Yesterday, Singapore-based Global eTrade Services (GeTS) announced a partnership with blockchain firm Shuttle One to integrate the former’s financing and supply chain platform with Shuttle One’s payments solution ecosystem.
GeTS is the partly government-owned logistics and supply chain management firm that developed the CALISTA platform for digital cross border trade. The solution already uses the GeTS Open Trade Blockchain (OTB), which allows stakeholders to store and share trade documents securely.
Meanwhile, Shuttle One has developed a blockchain-based cross-border remittance platform. It offers reduced transfer fees of 3% with near-instant settlement. It claims to have 1.2 million ecommerce merchants and 11,000 SMEs using its platform. Based in Singapore, it has a significant user base in Indonesia.
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