Singapore-based fintech platform 129Knots has joined forces with Green Link Digital Bank to launch a program seeking to improve the bunker industry’s access to credit.

The new global embedded finance program will use 129Knots’s origination-to-distribution platform to allow eligible borrowers across the global marine fuel sector to access working capital financing lines, the companies said in an emailed statement on Friday.

Over time, the two firms intend to expand the partnership to include financial products including stablecoin-based settlements and programmable payment instruments.

“The marine fuel industry has long relied on fragmented financing and informal credit, limiting transparency and scale,” Vikash Dhanuka, founder and group CEO of 129Knots, said in the statement.

“Together with GLDB, we are enabling capital to move seamlessly across this value chain.

“This partnership solves the perennial problem of credit accessibility in the marine fuel industry.

“It also marks the first step toward filling a multibillion-dollar gap by building a new asset class that brings structure and scalable opportunity to every participant.”

129Knots was launched in February with a $10 million investment led by bunker firm Sing Fuels and a $500 million deal pipeline.

The firm was incubated and launched under the Singapore Economic Development Board (EDB) Corporate Venture Launchpad programme, which supports companies with venture creation and startup partnerships from Singapore.