- MineHub (MHUB) has launched its Trade Finance app to bring efficiency and security to commodity financiers
- The app connects borrowers and financiers via a secure communication channel that provides access to real-time transaction data sets
- Users can also verify compliance, the authenticity of key documents and improve control over key risk events
- MineHub is an open, enterprise-grade platform that connects parties involved in physical commodity transactions through a digitally integrated workflow
- MineHub (MHUB) is up by 20.44 per cent and is currently trading at $1.65 per share
MineHub (MHUB) has launched its Trade Finance app to bring efficiency and security to commodity financiers.
The app, integrated with the core MineHub platform, connects borrowers and financiers via a secure communication channel to request finance, as well as receive and share relevant information authenticated by third parties. It also provides access to real-time transaction data sets, simplifying administration, reducing errors and facilitating action if dictated by the market.
The origin and provenance of data are recorded in an immutable audit trail secured by blockchain technology. Users can verify compliance, the authenticity of key documents like inspection reports, invoices and warehouse receipts, and improve control over key risk events like collateral releases and assignments.
MineHub Trade Finance is the first in a series of network applications the company will be launching in the coming months to address the lack of liquidity across global commodities markets.
Arnoud Star Busmann, CEO of MineHub, stated,
“Having had multiple years of experience with the complexity and key risk drivers of commodity trade finance made this application the highest priority solution on our roadmap. The value proposition is very clear. Blockchain technology, and solutions like MineHub Trade Finance, are likely to forever change the ways of working in the commodity trade finance industry with a key goal to unlock access to essential working capital critical for the world economy.”
MineHub (MHUB) is up by 20.44 per cent and is currently trading at $1.65 per share as of 9:55 am ET.