Mphasis, Bitfury to accelerate digital transformation in global trade

Thursday 30 May 2019 13:48 CET | News

India based IT company Mphasis and asset manager Bitfury have teamed to enable instant settlement of trade transactions.

The partnership is meant to also reduce reliance on complex FX infrastructures, and increase flexibility in liquidity management. The new technology will be interoperable; functioning across all types of procure-to-pay networks, distribution platforms and trade finance consortia.

The partnership builds on deep, complementary expertise, strong portfolios of next-generation financial services platforms; and a common vision to create a more open, efficient and inclusive trade ecosystem.

Founded in 2011, Bitfury is a security and infrastructure provider for the Bitcoin Blockchain. In addition to securing the Bitcoin Blockchain, Bitfury also designs and produces hardware that keeps cryptocurrencies and blockchains secure, including custom semiconductor chips and mobile datacenters. Bitfury also provides an advanced analytics platform Crystal Blockchain, and an open-source Lightning Network, LightningPeach.

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Keywords: Mphasis, BitFury, partnership, tokenization, trade finance, global trade, trade transaction, digital transformation, India, Asia, APAC
Countries: World