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26 October 2020

Indian Trade Finance Startup Raises $3.7M in Token Sale Led by Arrington XRP - CoinDesk

Indian Trade Finance Startup Raises $3.7M in Token Sale Led by Arrington XRP - CoinDesk


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Persistence has built the back-end infrastructure for a trade finance system that will allow small and medium-sized buyers to more easily find financing for commodities purchased from sellers, traveling between the main trade hubs of Asia, places like Singapore, Hong Kong and Dubai, among others.

That platform was turned over to a third party that already has access to the trade finance industry.

Though only a testnet now, Aggarwal said that “$41 million worth of commodities have been tokenized on-chain, which also represents the transaction volume.”

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