The largest port in Oman, the Port of Salalah, has joined the blockchain shipping platform TradeLens, in an effort to transform into a more digital friendly enterprise, according to a report Wednesday (Jan. 8) by Coindesk.
TradeLens will let companies in the supply chain share data about cargoes and other information in real time along the permissioned blockchain. The port is also partnering with other organizations to digitize other aspects of its daily operations, and it looks at TradeLens as a way to help bring further transparency into its shipping process.
“Adopting and incorporating blockchain technology into all aspects of the supply chain will not only enhance the attractiveness of Salalah for [ecosystem] companies but also support the development of new business models that can further leverage the geographical location of Salalah,” said Mark Hardiman, CEO of the Port of Salalah.
TradeLens was launched in 2018 and has more than 100 participants. The port recently handled four million shipping containers in a year, which breaks its own record.
In other crypto news, cryptocurrency exchange Binance has added a slew of fiat funding options, according to Coindesk. The Malta-based exchange will allow for faster payments for customers who pay with the British pound, as well.
The company has partnered with fiat-to-crypto company Banxa, a move that lets customers use Australian dollars and euros right from the Binance website.
The company also supports deposits in Thai baht, through a team up with Satang Corp. It also has gateways for Polish zloty and Swedish krona.
“We believe fiat will co-exist with crypto for a long time to come,” Binance CEO Changpeng “CZ” Zhao said in an announcement. “More than 99.9 percent of the global money supply is still in fiat and we need to continue building bridges to enable easier flow into crypto.”
Eventually, Binance wants to add support for “all 180 fiat currencies” this year. The company currently supports 21 currencies.