Vayana TradeXchange has announced a groundbreaking partnership with Arqit Quantum, also known as Arqit. This collaboration is set to harness Arqit’s TradeSecure™ digital negotiable instrument technology to revolutionise international supply chains.
The essence of this partnership is rooted in the transformation of trade finance, particularly focusing on the digitalisation of trade across key global markets, including India, Singapore, the United Arab Emirates (UAE), and the United Kingdom (UK). These countries, at the forefront of adopting digital trade laws based on the UN’s Model Law on Electronic Transferable Records (MLETR), present a fertile ground for deploying digital negotiable instruments (DNIs) to replace traditional paper-based contracts.
Vayana TradeXchange is a global marketplace that simplifies the financing of cross-border trade. As part of the Vayana Group, it benefits from being linked to India’s largest regulated network for domestic supply chain finance. Vayana Group’s achievements include facilitating over $30bn of financing for more than 300,000 enterprises, demonstrating its substantial impact on the trade finance sector.
Arqit, on the other hand, brings to the table its pioneering technology, TradeSecure™, which provides unique, secure, and transferable digital finance instruments. These tools are designed to bridge businesses closer to liquidity pools, enhancing their cash flows. Arqit’s compliance with new digital asset standards and its provable security measures position it as a leader in the field.
This partnership aims to enable exporters and importers to leverage DNIs, thus gaining easier access to working capital and optimising cash flows by tapping into financial institutions globally.
Vayana TradeXchange CEO Kalyan Basu said, “We are delighted to partner with Arqit to help companies unlock their working capital using these highly secure digital negotiable instruments.
“With export trade from India alone expected to reach $2trn by 2030, this partnership offers businesses easier access to investors/financiers who are willing to lend against receivables based on the negotiation of digital promissory notes and bills of exchange minted on TradeSecure. DNIs will offer immense flexibility to the asset owners in terms of access to a large pool of credible investors with a secure end-to-end digital journey.”
David Williams, Founder of Arqit, added, “The market for digital negotiable instruments is expected to exceed $4 trillion per annum. This partnership is a fusion of India’s leading cross-border supply chain finance platform with Arqit’s groundbreaking TradeSecure which is the only DNI solution that complies with the new laws and delivers permanent provable security. We are excited to take this collaboration to a high scale with Vayana TradeXchange.”
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