Almost since the dawn of civilization, there has been trade finance. The roots of early forms of trade finance, can be dated as early as the beginning of modern civilization, more than a thousand years ago. The current trade finance market is substantial, with $8 trillion currently financed and a further potential $40 trillion on corporate balance sheets. Trade finance has been provided primarily by financial institutions, unchanged for years, with many manual processes based on old-legacy systems that are expensive and costly to update.
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