BNY Mellon uses blockchain to digitize working capital in trade finance –

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By using Marco Polo, BNY Mellon will not only provide financing to suppliers, but will also have real-time visibility into trade finance instruments and their status, such as purchase orders and invoices. This is relevant because real-time visibility speeds up trade finance workflows. More than just the financing for suppliers and buyers On the blockchain, the moment when both parties agree that a transaction’s terms are correct, the trade confirms in real-time. This means both parties have:

payables financing
receivables discounting Through its participation in the Marco Polo Network, BNY Mellon believes it will be able more efficiently to provide and improve liquidity to international supply chains. It will seek to make available supply chain finance solutions to suppliers shipping goods and services to their buyers around the world – including:

The Marco Polo Network is a consortium of approximately 45 banks that already offer an open software platform for trade, payments and working capital financing to banks, corporates and other market participants. Marco Polo’s platform is a cloud-based blockchain-powered network that allows the seamless, secure and fast exchange of trade data assets in a multi-channel environment. BNY Mellon and Marco Polo

Digitisation delivers particularly pronounced efficiencies for large buyers such as big box retailers that may issue tens of thousands of purchase orders each day and that previously had to rely on an antiquated paper and email-based workflow to secure trade financing. Enterprise Times: what does this mean Digitization and the multi-channel Marco Polo network also has the potential to open up the development of a liquid secondary market in trade finance. This would be where a trade instrument already subject to financing become saleable to an alternative liquidity provider consortium member. This would act to free up still more capacity for additional working capital.

When this happens, improved (and faster) delivery of working capital to finance trade happens. In turn, this releases liquidity for finance providers like BNY Mellon. confirmed the data in the trade documents
checked, matched and confirmed this.

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