The trade finance ecosystem remains an opaque and fragmented industry heavily dominated by paper processing and multiple participants along the transaction lifecycle. The antiquated processes burden all of the companies involved—banks, importers and exporters, insurers, export credit agencies and various service providers. With rising costs and operational risk, the industry has been seeking solutions to simplify, better manage, and digitize trade, making it ripe for the benefits of blockchain technology.
Data provenance is visible and verified by all counterparties
Platform standardization across trade finance and trade credit insurance solutions unlocks opportunities to do business in new markets across the globe
Leverage Corda Network to connect with similar trade finance business networks across R3’s ecosystem, facilitating new partnerships, uncovering new liquidity pools and finding new trading hubs
Smart contracts allow legal representation of trade documents for execution of global trade transactions
Regulatory compliance is simplified through real time auditing in the business logic flow
Access to the largest networks of carriers, freight forwarders, inspection agents, chambers of commerce and other trade facilitators, in partnership with Bolero and essDOCS
Hot on the heels of completing live trade finance transactions on the Marco Polo network in April 2019, we have licensed Corda Enterprise to support the next steps on our journey. The ability to host nodes behind corporate firewalls, combined with the additional deployment and support services build on the platform’s strength in delivering interoperability, security and privacy and will help to scale up the network as the ecosystem grows.
At CryptoBLK, we are constantly striving to make transactions safer, smarter and faster for everyone in the supply chain financing. This is why we chose to develop our trade finance solution on Corda, opening up seamless connectivity across multiple trade networks.
Founder and CEO, CryptoBLK
According to World Bank estimates, more than 70% of MSMEs in Asia, Africa and emerging markets lack access to credit. We, at Kratos Innovation Labs, trust R3’s Corda as our preferred platform to bring a true decentralized credit access to MSMEs.
Founder and CEO, Kratos Innovation Labs
A supply chain solution, enabling manufacturers and producers to prove the authenticity of their products across variety of industries, including agriculture and automotive
The world’s first fully integrated procure-to-pay on Corda, introducing efficiency to the supply chain management process, with invoice and PO financing
Digiledge’s invoice discounting platform offers invoicing, supply chain finance and dealer financing, with integration to legacy credit scoring services and ERP
A borrower and lender market on a shared distributed ledger
Monetago’s invoice fingerprinting solution to mitigate the risk of duplicate financing and authenticate invoices against goods and services tax
A communications platform designed specifically for the physical commodities industry. Producers, consumers and traders can meet to exchange information, negotiate contracts and conclude business
The open platform for documentary trade. Voltron enables the end-to-end processing of a letter of credit, enabling faster settlements, reduced complexity and paperwork through a simplified, single channel
X-DeFraud prevents fraud by storing all the supporting documents in a trading cycle in an encrypted format on a tamper proof blockchain platform
Siam Commercial Bank’s supply chain management platform -Blockchain for Procure-to-Pay (B2P) – powered by Corda Enterprise – is poised to revolutionize the efficiency of global trade. It is the world’s first fully integrated blockchain solution for Procure-to-Pay.
R3 is working with CryptoBLK, HSBC and multiple other banks and corporations to revolutionize and revitalize trade finance letters of credit, using the power of the Corda blockchain platform.