Blockchain Startup FQX Adds James Courtenay To Its Boardbr>
Blockchain startup FQX has appointed James Courtenay to its board.
FQX is focused on enabling the transfer of funds through digital promissory notes on blockchain or distributed ledger technology (DLT) networks. According to FQX’s official website, complex traditional financing processes often “hinder companies in their growth.” These barriers have resulted in a global trade finance gap of more than $2 trillion. FQX claims that electronic promissory notes offer a remedy. Promissory notes are a widespread traditional financial instrument that enable companies and individuals to obtain finance on the basis of an unconditional promise to pay.
Based in Singapore, Courtenay previously served as head of international corporates at Standard Chartered’s investment bank. He has also worked for ABN Amro as the institution’s head of high-yield and leveraged finance and in senior management roles for Canadian Imperial Bank of Commerce in Europe.
The appointment came after FQX announced last year that it had processed two further financings for an unnamed Switzerland-based commodity trader (transaction was valued at $500,000).