27 September 2021 – Tradeteq partnered with Singapore-based eXchange inFinite's XDC Network to complete the first trade finance-based non-fungible token (NFT) transaction to offer tokenised trade finance products to institutional investors. The proposition utilised XDC Network's enterprise grade blockchain technology to transform trade finance assets into NFTs. Institutional investors are able to buy and sell these tokens, which represent the value of an off-chain asset, and this gives token holders legal entitlement to an asset or package of assets. This transaction sets the standard for all future NFT-based and tokenised trade finance transactions. Additional originators are expected to join the platform over the coming weeks, given the growing appetite among banks and institutional investors to add digital assets to their portfolios.
Re-disseminated from Tradeteq