Emirates NBD to use LiquidX's network to sell commodities

Thursday 12 March 2020 11:17 CET | News

US-headquartered network for illiquid assets LiquidX has revealed that it has added Emirates NBD to its network.

Emirates NBD has performed its first transaction on the LiquidX platform. The banking and insurance service provider carried out an accounts receivables transaction with a trade finance customer during the final quarter of last year. Emirates NBD’s transaction on LiquidX reportedly involved a large Middle Eastern crude oil producer, which made the sale to a Singapore-based multinational commodity trader.

As noted on LiquidX’s official website, the company aims to “digitize, electronify, and streamline the issuance, trading and operations” of these multi-trillion-dollar asset classes.

Emirates NBD is a Dubai government-owned banking institution and one of the largest financial institutions in the Middle East in terms of total assets (appr. USD 136 billion).

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Keywords: Emirates NBD, LiquidX, LiquidX platform, financial institution, liquid commodities, trade finance, Singapore, United Arab Emirates, Dubai
Categories: Banking & Fintech
Countries: United Arab Emirates
This article is part of category

Banking & Fintech