Today
Accenture announced a minority investment in
TradeIX, the developer behind the
Marco Polo blockchain trade finance platform, and the consultant will also become the preferred integration partner. The trade finance network has more than 30 member firms, including Mastercard and numerous global banks such as Bank of America, Commerzbank, ING, and Standard Chartered.
It’s been 18 months since Dublin-based TradeIX announced a $16 million
Series A led by ING Ventures. The firm was started by CEO Robert Barnes, who previously founded supply chain finance company PrimeRevenue.
Marco Polo is a little different from some of the other trade finance consortia because a pure startup like TradeIX is the network operator. In contrast, the other groups have incorporated as bank joint ventures.
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