Blockchain-based Trade Finance Protocol PolyTrade Raises $1.2 M Funding

Blockchain-based Trade Finance Protocol PolyTrade Raises $1.2 M Funding

[PRESS RELEASE – Please Read Disclaimer]

The rampant DeFi adoption has witnessed massive opportunities to transform the fin-tech space. The emerging modern financial industry is today witnessing convergence of trade finance and DeFi. Platforms such as Polytrade are instrumental in the systematic application of blockchain technology by promoting trade finance in the world of DeFi.

Polytrade envisions bringing real-world assets to the crypto world, thus creating a seamless experience by connecting buyers, sellers, insurers, & investors. It is focused towards providing real world borrowers with seamless lending options with low interest rates and swift financing, hence fine-tuning the overall experience of small lenders.

With the mission to shape the future of trade finance, Polytrade has successfully closed its funding rounds raising $1.2 Million from notable investors including Sandeep Nailwal (Polygon), Master Ventures, Orion Protocol, AU21 Capital, Spark Digital Capital, LD Capital Limited, Icetea Labs, Momentum 6, Krypital Group, ROK Capital, Ramani Ramachandran (Router), Amesten Capital, Axia Ventures, Shima Capital, and DaSheng Capital.

“We are humbled by the trust our investors have put in us. With our vast experience & stellar team we are confident that this trust is not misplaced. We also thank the drive that the community has been giving us to achieve more” said Piyush Gupta, CEO of PolyTrade.

Redefining Trade Finance through innovative solutions

Building on the Polygon Network, Polytrade is striving towards fine-tuning the entire experience of an average trader relating to receivables financing. Through Polygon, Polytrade aims to bring scalability, low- transactions costs and high throughput in its ecosystem.

Sandeep Nailwal, COO at Polygon said,

“ It’s exciting to see POLYGON  becoming  the chosen platform not just for crypto native ventures, but also for centuries old Trade finance related applications. POLYTRADE team is well experienced in invoice factoring business with 500 million USD under their belt in the last 6 years. Getting this well running business on blockchain will be the much needed push that both the worlds need.“

The platform is all geared up with this product development and marketing activities. As a part of the initial stages, the team has already released whitepaper, launched the website, social platforms and initial documents.

As a part of future milestones, the team will be working on designing the mobile applications, web interface, launch of liquidity pool and executing first transaction.

Find out more about Polytrade:

Website | Discussion Chat | Announcements | Medium | Twitter


Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

GIPHY App Key not set. Please check settings

What do you think?

How DeFi lending can restructure older financial systems

Here’s why Alchemy’s NFT TOYs are a valuable item to collect, play and trade

Mixed Views on ADA Price After Crypto Crash

Mixed Views on ADA Price After Crypto Crash