On Monday Farooq Siddiqi, former Global Head of Trade Finance at Standard Chartered, joined blockchain startup dltledgers as co-CEO alongside founder Samir Neji. After departing the bank, Siddiqi spent a year with inventory management startup Falcon and has also been an adviser to dltledgers for around a year.
While the major bank-backed trade finance consortia are still getting going, this scrappy startup, with only $2.5 million in funding to date, has managed to process more than SGD 3 billion ($2.22 billion) in trade transactions in its short life. We spoke to Siddiqi, who noted that dltledgers “has been able to punch above its weight significantly.”
However, the SGD 3 billion figure is lower than the numbers previously reported. More on that later. Having someone like Siddiqi at the top will help to professionalize these sorts of processes. Although sharing the CEO role with a startup founder is not a path for the faint-hearted.
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