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- Arqit Quantum (NASDAQ:ARQQ) (ARQQW) and cross-border trade finance platform Vayana TradeXchange Wednesday announced a partnership to use Arqit’s TradeSecure digital negotiable instrument technology, with initial focus in India, Singapore, United Arab Emirates, and the United Kingdom.
- Vayana Group, which operates India’s largest regulated network for domestic supply chain finance, has facilitated over $30bn of financing, serving over 300,000 enterprises in India.
- The partnership aims to enable exporters to use digital negotiable instruments (DNIs) to get easy access to working capital against their trade receivables, whilst importers can optimise their cashflows by accessing funding from financial institutions across the globe.
“With export trade from India alone expected to reach $2 trillion by 2030, this partnership offers businesses easier access to investors/financiers who are willing to lend against receivables based on the negotiation of digital promissory notes and bills of exchange minted on TradeSecure,” Kalyan Basu, MD & CEO of Vayana TradeXchange said.
- Source: Press Release