Polytrade finances the world’s first Real world invoice using Crypto Liquidity
Polytrade Finance proudly announces to have financed the first-ever pool of real-world invoices with crypto liquidity.Polytrade’s lending protocol on Polygon allow SMEs to get unprecedented direct access to trade financing opportunities while offering attractive rewards to the investors of lending pools.
Polytrade collaborates with a Singapore based fintech company, Volofin to carry out first ever real world Invoice financing using crypto funds.The partnership between the two parties has kickstarted with funding of Volofin’s invoices to three global buyers based in USA, United Kingdom and New Zealand.
About POLYTRADE:
Established in 2014, Polytrade is a lending protocol that caters to the working capital needs of small and medium scale enterprises in developing economies, thereby helping them fulfill their orders to large global enterprises like IKEA, Walmart, Nike, etc. We have financed US$ 500 million worth of invoices in the real world. With an in-depth awareness of pain points and issues faced by SMEs, in 2021, we started developing a blockchain-based decentralized finance protocol that will harness the massive liquidity pool of the crypto world to meet the working capital needs of SMEs globally by tokenizing real-world invoices and bringing them on-chain into the Defi space. The protocol is launched its mainnet on 31st Jan 2022.
The untapped opportunity in trade finance is of the order of $ 1.7 trillion and by connecting buyers, suppliers, insurance service providers and investors through a seamless platform, Polytrade aims to transform and amplify global trade for healthy economic growth. Polytrade is also working on a Metaverse product that will enable enterprise-to-enterprise transactions in the Metaverse as the space continues to see an influx of consumer brands.
