Tuesday, March 19, 2024
-Advertisement-
Reimagining Public Sector Analytics
Reimagining Public Sector Analytics
HomeNewsStartupsXinFin launches blockchain based TradeFinex platform with Assocham

XinFin launches blockchain based TradeFinex platform with Assocham

Follow Tech Observer on Google News

Singapore-based hybrid blockchain firm XinFin in association with Assocham has launched its marketplace platform, TradeFinex.

Google News

New Delhi: Singapore-based hybrid firm in association with has launched its marketplace platform, TradeFinex. As a part of this association, XinFin will extend its TradeFinex platform to Assocham's network of over 300 trade associations and 450,000 members to minimize inefficiencies in trade and finance. Powered by XDC Protocol, the launch of TradeFinex platform will enable peer-to-peer contracting between financiers, suppliers and beneficiaries thereby minimizing the role played by intermediaries. The hybrid nature of XinFin's blockchain technology implements a decentralized but secure transaction platform that can be used with existing laws of the land and payment rails or in an approved jurisdiction using underlying XDC tokens.

DS Rawat, Secretary General ASSOCHAM said, “The adoption of Blockchain Technology in India is at a nascent stage and therefore requires an enhanced level of understanding about its applications, ethical, legal, and regulatory issues.” Sameer Dharap, VP Blockchain Applications at XinFin said, “The launch of TradeFinex will allow beneficiaries to get their projects financed at globally competitive rates, while financiers can track the progress of their projects at real-time and suppliers can overcome problems like uncertainty and volatility of supply chain. This will not only increase transparency and overall efficiency but also help reduce the global financial and infrastructural deficit.”

All users of TradeFinex can drive bottom line benefits by using the blockchain based platform to escrow based smart contracts between beneficiaries, financiers and suppliers. The payment terms can be linked to customized smart contract milestones, triggered upon delivery of goods/services. The platform will partner will government bodies, export councils, banks and other players for a blockchain based ecosystem.

XinFin focuses towards enterprise use cases of blockchain technology using native token called XDC. TradeFinex helps buyers secure capital at globally competitive rates, gives suppliers visibility on global tenders and customer base and provides financiers real time visibility on their investments using Blockchain. Launched in 2017, XinFin has already expanded its client base across Singapore, India, USA, Europe and currently working on 10+ pilot projects across aviation, travel, banking, supply chain management among others.

Get the day's headlines from Tech Observer straight in your inbox

By subscribing you agree to our Privacy Policy, T&C and consent to receive newsletters and other important communications.
Sanjay Singh
Sanjay Singh
Sanjay Singh covers startups, consumer electronics and telecom for TechObserver.in
- Advertisement -
Reimagining Public Sector Analytics
Reimagining Public Sector Analytics
- Advertisement -Veeam
- Advertisement -Reimagining Public Sector Analytics
- Advertisement -ESDS SAP Hana

Subscribe to our Newsletter

83000+ Industry Leaders read it everyday

By subscribing you agree to our Privacy Policy, T&C and consent to receive newsletters and other important communications.
- Advertisement -

Microsoft, NVIDIA to enhance enterprise AI with key integrations across Azure

The partnership focuses on the inclusion of NVIDIA's latest generative AI and Omniverse technologies into Microsoft's Azure, Azure AI services, Microsoft Fabric, and Microsoft 365 offerings.

RELATED ARTICLES