Tradeshift slashed cross-border transaction fees – EthexBet

Tradeshift platform managed to cut cross-border transactions fees significantly using Ethereum blockchain.

Last year, Tradeshift start-up managed to raise $250 million in the E Series funding cycle, which was conducted by Goldman Sachs and the Public Sector Pension Board (PSP Investments). As a result, the total financing of Tradeshift exceeded 400 million dollars. The company presents the values of invoices as receipts between buyers and sellers and then translates them into another form of paper fiat currency.

These token debt receipts are called flow tokens, important for traditional financial institutions that earn on cross-border payments. The basic idea is to do for supply chain management and trade finance what Libra wants to do for its potential customers with wallets and stable coins.

Tradeshift representatives say that they slashed the cost of cross-border transactions between buyers and suppliers using a platform based on Ethereum blockchain.

“Obviously a blockchain really doesn’t care about whether or not that is [a] cross-border or domestic transfer, so the settlement cost is going to be the same.”

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