Russian blockchain trade finance platform Factorin recently passed 31 billion rubles ($439 million) in processed transactions, a CNews report said.
The figure was processed within a year of Factorin’s June 2019 launch. It transacted more than $100 million in April after the COVID-19 crisis accelerated digital channels.
“The (COVID-19) crisis creates both challenges and opportunities. Factorin, with the help of 28 banks, helps companies take advantage of these opportunities — buyers can delay payment for several weeks or months, but suppliers receive money in a couple of hours,” said Andrey Macklin, Co-founder of Factorin.
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