Temasek’s Trustana launches partnership with OneConnect 

The collaboration aims to accelerate cross-border commerce between Singapore and China.

Temasek’s curated cross-border business-to-business marketplace, Trustana, has launched a partnership with technology-as-a-service platform provider OneConnect Financial Technology (Singapore) Co. Pte. Ltd. to boost digital cross-border trade between Singapore and China.

Under this collaboration, Trustana will integrate OneSME, a digital cross-border trade platform, into its marketplace. Building on Trustana’s cross-border trade expertise and OneConnect’s core competencies in architecting technology solutions, curating, and operating an extensive network of ecosystems in China, the collaboration will enable small and medium-sized enterprises (SMEs) in Singapore and ASEAN to access a larger pool of buyers in China, seize international trade opportunities, and benefit from value-added services on Trustana’s platform.

The OneSME platform was established as a joint initiative by OneConnect and the Infocomm Media Development Authority (IMDA) to enable SMEs in Singapore to trade and transact securely across borders while leveraging an ecosystem of services in the digital economy. Close to 300 SMEs in Singapore and China have come on board OneSME since it was launched in September 2020.

With a curated marketplace and fulfillment offerings initially focused on the F&B sector, Trustana’s platform enables buyers and sellers to transact with greater trust and confidence. As a result of the collaboration, SMEs in Southeast Asia will be able to buy and sell their products directly to pre-screened buyers and suppliers in China who show keen interest, boosting the chances of a match.

Additionally, the collaboration will allow SMEs to have access to a buyer base of four million Chinese SMEs via OneConnect’s YiQiYe, a one-stop SME ecosystem that provides financing, insurance and cash management solutions to SMEs in China. 

Trustana will also integrate with the Guangxi Open Finance Platform, a cross-border digital financial services platform led by Guangxi district government, and jointly built and operated by OneConnect and Digital Guangxi Group to promote collaborations between governments, institutions and enterprises. 

Headquartered in Singapore, Trustana has aided over 2,000 F&B buyers and suppliers in building new cross-border business connections across China and Southeast Asia within a year of launching. Trustana provides end-to-end trade support services including cross-border payments, transaction fulfillment, and shipping and logistics services.