TradeAssets, the first institutional trade finance e-marketplace of its kind, has grown to a robust global network of 115 member banks and is approaching 4 billion dollars in posted transactions. The member institutions are based mainly in Asia, Middle East and Africa and growing in Europe and the Americas.

An ecosystem of financial institutions, TradeAssets is positively contributing towards closing the growing global trade finance gap through an open, inclusive marketplace connected by technology, which enables members in emerging markets to interact online with larger institutions and gain access to affordable trade finance and liquidity in order to support their customers and keep supply chains open.

As TradeAssets members derive the benefits of transacting online on a global scale, Tech continues to change the future of trade. TradeAssets earlier launched its Mobile App to enable its member banks to access the portal 24/7 on their mobile and other handheld devices. The App will maximize usage by providing secure, uninterrupted portal access to users. Also, as TradeAssets looks to become the primary channel through which bank risk assets are originated and distributed globally, it recently launched ‘TA Corporates’.

Lakshmanan Sankaran, Co-founder & CEO, says: “In order to create new opportunities for our growing, core customer base of financial institutions, we are constantly enhancing the TradeAssets value proposition and in line with this objective, we recently launched ‘TA Corporates’, where membership is by invitation only and reserved for select, strategic non-FI entities, residing on a separate ledger from the FI clients”.

Since the first two members joined this module from Europe and the US, they have created interesting and diverse deal opportunities for member banks by posting large values in international transactions by way of LC Confirmations, Invoice Purchases, Bill Discountings, etc, originating mainly from Africa and the Middle East.

Sumit K Roy, Co-founder & CMO, says: “While continuing to increase the TradeAssets member base, we are implementing our product roadmap by broadening our membership to more entities, thereby diversifying the portfolio of available assets and creating an attractive proposition for members of this global e-Marketplace”.

Earlier this year, TradeAssets was also seen as a winner of the ICC UAE Digital Challenge held at the Dubai Chamber of Commerce during the Global Trade Facilitation Summit attended by 380 bankers, global multilaterals and trade industry specialists. The main criteria for the award was global impact and industry acceptance. TradeAssets’ theme was “Building the Bridge”, ie, how to reduce the US$ 3.5 trillion trade finance gap through institutional financial inclusion.

About TradeAssets

The TradeAssets e-marketplace was launched by Fintech Innovations International DMCC based in the UAE prior to the pandemic and is transitioning the financial industry from the current manual process of buying and selling of Trade Finance assets to a more efficient process, thereby improving connectivity and profitability.

For more information please visit www.tradeassets.online or email us at info@fiiglobal.com or vaishali@outsourcedmarketing.co