Skuchain to develop blockchain solutions for global trade finance marketbr>
Skuchain announced that they are developing solutions to address the 18 trillion dollar global trade finance market that still relies on paper documentation for most processes.
Skuchain has development projects under way with multiple international banks, and is supported by investors including Amino Capital, Digital Currency Group, and Fenbushi Capital.
“The Skuchain team and blockchain-enabled product is well-positioned to transform the trade finance space and DCG is thrilled to back such an ambitious effort,” said Digital Currency Group CEO Barry Silbert.
“Collaborative Commerce is the future of global trade. Skuchain’s blockchain technology will help trading partners work better together, and unlock faster and cheaper financing for businesses of all size,” said Skuchain co-founder and CEO Sriram Srinivasan.
Skuchain is a startup based in Mountain View CA, that builds blockchain based products for B2B Trade and supply chain finance.