Blockchain Innovators For
We are building the world’s first open platform powered by blockchain and distributed ledger technology. The best way to describe TradeIX is as a ‘Network of Networks’ for global trade finance. It is the most connected and secured platform infrastructure for banks, asset managers, B2B networks and value-added service providers.
Who we are?
Our award-winning company is driving change in facilitating the flow of goods, money, and credit in global trade.
Blockchain technology is the catalyst for a new wave of solutions. It addresses critical challenges in trade finance, reforming the antiquated methods of sharing and storing data. The new solutions we have created are changing the way the $8 trillion trade finance market is managed. We are at the cutting edge, revolutionising financial services. It is challenging work that we believe and take pride in.
At our core – we are problem solvers; innovating, experimenting, and moving at a fast pace. TradeIX is a learning organisation with a growth mindset. As such, we are always looking for ways to improve our product and ourselves. Our company culture is grounded in an environment of innovation, collaboration and celebration.
TradeIX has been nominated as a finalist for the ‘Blockchain Innovator of the Year’ award by Lendit Fintech.
Some of the leading organisations in the world rely on TradeIX. These include R3, SAP Ariba, AIG, Standard Chartered Bank, and many other institutions.
“By using this blockchain-enabled platform, clients are able to benefit from the extended ecosystem that trade finance brings, but with a reduction in friction and cost and an improvement in speed and transparency.” – Marilyn Blattner-Hoyle, Head of Supply Chain and Trade Finance at AIG.
We are a member of the Linux Foundation and partner of the two key blockchain protocol providers IBM and R3.
Solving Challenges Using Blockchain
The convergence of technology and finance allows us the opportunity to transform and rewire the world’s trade infrastructure. Blockchain technologies enhance the basic services that are essential in trade finance. Blockchain utilises a decentralised, digitalised and distributed ledger model. It is probably best known as the underlying technology that maintains the transaction ledger for Bitcoin transactions and other cryptocurrencies. Blockchain is more secure and robust compared to the proprietary, centralised models, currently in use.
Addressing Pain Points
Using blockchain technologies we can radically upgrade financial processes and cut down on operational inefficiencies. For example, there is the potential for cost savings of 70% on business operations and 30-50% on compliance.
Today’s trade finance solutions:
- Depend on third-party intermediaries to secure and protect transactions
- Require coordination between multiple agencies to reduce risk and accommodate the demands of each side of the trade
- Are prone to delays and errors that cost both money and time
- Have no single source of truth for reconciliation if there is a discrepancy.
Our company is addressing these pain points. There are many benefits of utilising blockchain technology in trade finance:
“Heavy paper processing across complex supply chain processes are a significant burden to businesses. The industry has been looking for solutions to simplify and digitise trade, making supply chain ripe for the benefits of blockchain technology.” – Connie Leung, Senior Director, Financial Services Business Lead – Asia, Microsoft.
The First Blockchain-Enabled Trade Finance Transaction
In 2017, we implemented the first blockchain-enabled trade finance transaction. See our blockchain case study on the trade finance solutions our company created for a Fortune 500 logistics company.
A blockchain diagram detailing the first blockchain-enabled trade finance transaction.
TradeIX has operations in the UK, and the US managed by a team of experts and thought-leaders in the financial technology and trade finance industry.
Our team’s many years of experience working in trade finance with numerous commercial banks and application providers led to the creation of TradeIX. We realised that trade finance operated on an inefficient and costly ‘old world’ model and needed more efficient solutions.
The team is the strong foundation of the company and the driving force for positive changes to an entire industry. Blockchain is the future, and we are only beginning to discover the applications for blockchain technology.
In 2017, TradeIX was selected as the technology platform for the Marco Polo project. A joint undertaking by R3, TradeIX, and many of the world’s foremost financial institutions including BNP, ING, Natwest, Barclays, Natixis, Commerzbank, Wells Fargo, and ING.
The Marco Polo platform is an example of a consortium blockchain and dedicated to the rewiring of open-account trade infrastructure. The platform consists of powerful trade finance solutions, APIs and developer tools, and an open technology infrastructure powered by Corda distributed ledger technology.