Blockchain Startup LC Lite Names Duncan Klein As Head Of Funding

LC Lite, the newly launched blockchain platform for letters of credit, has appointed Duncan Klein as head of funding.

Klein has experience in the financial services industry across eBusiness, sales and trading, operations and project management roles for JP Morgan, BondIT and MarketAxess. At JP Morgan, Klein launched the company’s transition management business in Asia, with responsibility for the growth of sales, revenue and profitability, securing new markets and developing product management.

As head of funding at LC LITE, Klein will lead a new alternative investment asset class based on digitized trade finance purchase orders to institutional and accredited investors in Asia and EMEA. Klein is also a seed investor of Singapore-based invoice finance provider Incomlend.

“Duncan has a great reputation in Singapore and important expertise in facilitating the growth of both global companies and start-ups,” said Dimitri Kouchnirenko, co-founder of LC LITE. “We’re really pleased to have him join LC LITE, adding his extensive experience and knowledge to the senior management team.”

LC Lite was launched last month by Incomlend to connect trade parties directly via a digital solution for cross-border trade transactions requiring LCs, a guarantee for payments made to a specified person under specified conditions. The platform enable trade parties to transfer, track and validate transactional documents directly between one another, replacing traditional banking intermediaries and Interbank (SWIFT) messaging systems.