Yesterday Singapore based dltledgers announced that in the last 18 months it has processed more than $1 billion in trade finance on its blockchain trade platform. The company wants to “uberize” the trade finance model. It also recently secured a $2.5 million pre-Series A financing from Walden International.
One of the first high profile announcement came eight months ago. Singapore’s
DBS Bank said it was funding shipments for agribusiness company Agrocorp ($3 billion revenues) on the platform. In turn, Agrocorp was onboarding 4,500 Australian farmers onto the platform so supermarkets and restaurants could trace their products.
Standard Chartered also publicized that it had financed an Agrocorp shipment of chickpeas delivered from Australia to BSM Global in Bangladesh.
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