Infibeam and Primechain team up for blockchain invoicing platform

Monday 22 April 2019 13:42 CET | News

India-based Infibeam and Pune-based blockchain startup Primechain Technologies have started collaborating to develop a cross-border blockchain invoicing platform for the global trade finance.

Global trades involves the exchange of all the goods, capital and service across some of the international borders, this the global trade finance needs to be much more protected against the unique risks of international trade, currency fluctuations, issues of the nonpayment, political instability and creditworthiness.

To address the growing demand of the real-time scenario of the cross border and domestic trade payments, Infibeam Avenues and Primechain Technologies have also collaborated. According to world trade organizations, the market for trade finance is also estimated to be of more than USD 12 trillion.

The Primechain technology & API stack for the blockchain will exclusively run on the Infibeam state of the art integrated Data Center infrastructure along with the LinuxOne platform at the Gandhinagar International Financial Tech City. The platform will also support the multiple blockchain frameworks which include the hyper ledger, hyper ledger fabric and multichain.

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Keywords: Infibeam, Primechain, cross-border, invoicing, trade finance, payments
Countries: World