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E-invoicing, SCF & E-procurement

Ideanomics enters cross-border trade finance agreement with NFTZ

Friday 11 January 2019 | 11:13 AM CET

US-based fintech Ideanomics has entered an agreement with Ningbo Free Trade Zone Cross-Border Supply Chain Management and Settlement Technology.

The main focus of the agreement is for the two companies to service cross-border supply chain management and trade finance services. Through this agreement, Ideanomics will have multiple revenue stream opportunities including a share of the fees in connection with the payment and settlement of up to RMB 500 million (USD 74 million) per day in the Ningbo Free Trade Zone.

According to the terms of the agreement, Ideanomics will provide client referral services, fintech service support for NFTZ Clearing Company's platform, including risk management technology through artificial intelligence (AI), blockchain-based supply chain management and finance, and other big data management technology platforms.

This includes Ideanomics blockchain finance and management platforms partners Bubi.cn and Jingtum, and the supply chain finance platform that is being created in partnership with Heying Fund Management, Cosco -Yuan Hai Fund Management, as was previously announced by Ideanomics.

More: Link
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