Commerzbank and Landesbank Baden-Württemberg (LBBW) have recently – for the first time – successfully executed the necessary data transfers to complete two commercial transactions via blockchain-based trade finance network Marco Polo.
“The transaction proves that blockchain technology offers our clients state-of-the-art financing for trade transactions,” says Nikolaus Giesbert, divisional board member for Trade Finance & Cash Management at Commerzbank. “We see a valuable opportunity here to work together to develop and bring to the market innovative trade finance solutions.”
News of the transaction was covered by: Banking Technology, Bitcoin Exchange Guide, BlockTribune, CMTFile, Coin Speaker, Coin Telegraph, CoinDesk, Der Treasurer, Disruption Banking, Financialit, FinExtra, Fintech Finance, FinTech Futures, Global Treasurer, Global Trade Review, Ledger Insight, The Paypers, TokenPost, Trade Finance Global, TRF News, TXF, TXF tracker (behind paywall), & Yahoo
Christopher Ash, the Managing Director of ExWorks Capital UK describes how trade finance in the Middle East is at an inflexion point. As the discipline innovates and evolves, it becomes a tool to help businesses grow, rather than being a heavy weight in the firm’s debt repayment schedule. There’s still much to be done but also much to gain. Ash outlines some exciting developments that are driving change throughout the region.
Read the full article here
Of the private capital multilateral lenders have mobilised, only 3% has been invested in low-income countries. This is according to new research by S&P Global Ratings.
The lacking capital is due to the higher underlying investment risks in emerging markets – such as political and regulatory uncertainty, currency exchange risks, and policies that are less clearly defined. S&P Global Ratings believes that a combination of credit enhancements and private-sector catalysation could help to offset the financing gap.
Following Moorgate’s outreach, the news was covered by Infrastructure Investor. To read the full article, click here (please note that the article is behind a paywall)
A recent Infrastructure Investor article assessing investment opportunities in Latin America featured S&P Global Ratings’ research into the development of Colombia’s road network. The rating agency believes that the 4G road network, which began development in 2013, has made “significant progress under the current administration”.
To read the full article, click here (please note that the article is behind a paywall)
As the appetite for foreign direct investment (FDI) in Africa intensifies, currency illiquidity and volatility stand as potential barriers to growth. In an article for The Global Treasurer, David Bee, Head of Global Markets at Crown Agents Bank, explores how new, innovative technologies – such as EMpowerFX – can begin to offset Africa’s currency concerns.
Please click here to read the full article.
S&P Global Ratings has placed Autostrade per I’Italia SpA (ASPI) – as well as parent company Atlantia – on Creditwatch negative following the tragic collapse of the Morandi bridge, Genoa. The placement, which is not itself a rating action, reflects the potential termination of ASPI’s concession agreement with the Italian government, and potential litigation action.
Following Moorgate’s outreach, InfraNews, Partnerships Bulletin, AlacraStore, and Reuters covered the news.
Falcon Bridging Finance Limited has announced that it has selected Brightstar Financial to act as its latest financial intermediary.
Under the terms of the partnership, Brightstar will add Falcon Bridging to their lender panel, providing partners and clients access to their complete product range.
Outdated payment systems, regulation, evolving consumer needs and promising fintech initiatives are all driving the demand for enhanced transaction capabilities. As a result, banks are increasingly adopting real-time payments to address evolving needs. In a commentary article for TMI, Carl Slabicki, Director, Immediate Payments, BNY Mellon Treasury Services, discusses how the real-time landscape is gaining traction, the implementation of the real-time payments (RTP) initiative in the US, and how banks and the wider industry can make enhanced, real-time payments a global reality.
To read the full article, please click here.
In an article for the World Bank, David Bee, Head of Global Markets at Crown Agents Bank, explains that the answer to solving Africa’s currency illiquidity problems can be found in innovative, online trading technologies.
Please click here to read the full article.
Tradeteq, the trade finance distribution platform, recently announced it has raised US$ 6.3 mn of equity investment in seed extension funding round, led by ADV. The financing will be used for the expansion of Tradeteq’s platform, and for the release of new applications and data services. Several of Tradeteq’s existing investors also participated in the seed extension round.
“We started Tradeteq with the vision to make trade finance investable and to establish trade finance as an alternative asset class. This funding is a significant milestone for Tradeteq as it will allow us to aggressively expand our sales and marketing efforts as well as broaden and expedite product development,” says Christoph Gugelmann, co-founder and CEO of Tradeteq.
To read coverage of this news in the specialist press, please go here: 10ztalk, AMRank, Biz Dailies, Crowd Fund Insider, Fin SMEs, Finance Digest, Financial IT, Finextra, Fintech Finance, Fintech Futures (Banking Technology), Fintech Insight, Fintech Roundup, Global Trade Review, London Tech Watch, Pitchbook, Tech EU, TechTalkEurope, The Paypers, TXF News, Venture Canvas.