Today in B2B Payments: 2 Firms Deploy Blockchain-Powered Solutions

B2B payments, blockchain, Stablecorp, treasury management

Today in B2B payments, Stablecorp is beta-testing a treasury management platform powered by blockchain technology, while Byline Bank has signed with Tassat Group to use its blockchain-based TassatPay to enable real-time payments. Plus, Liberis raised about $154 million to expand its small business funding platform. 

Stablecorp Beta Launches Blockchain-Based Treasury Management Platform

Stablecorp, a Canadian blockchain technology company, has announced the beta launch of a personal and commercial payments and treasury management platform that is powered by blockchain infrastructure.

Through the Grapes Finance platform, Canadian individuals and businesses will be able to access foreign exchange (FX), payment and yield analytics solutions through one portal, built on blockchain rails and using both fiat and digital assets. 

Chicago-Based Byline Bank Adopts TassatPay for Real-Time Payments 

Chicago-based Byline Bank has signed with Tassat Group to use the blockchain-based platform TassatPay to give the bank’s B2B customers access to real-time payments at any time, with no limits on transaction size or volume.

“Transactions are meant to be conducted around-the-clock, and Byline Bank is our newest partner to witness the power of real-time payments,” Tassat Chairman and CEO Kevin R. Greene said in a press release.

Liberis Raises $154M to Expand Small Business Funding Platform 

Liberis, a London-based embedded business finance platform, has secured £140 million (roughly $154 million) in financing to expand its funding program for small- to medium-sized businesses (SMBs).

The company said in a press release that its platform applies machine learning to understand a customer’s risk profile and the maximum funding available to them, allowing for higher volumes of origination. 

Amazon, Lendistry Expand Small Business Lending Program 

Amazon is expanding the Amazon Community Lending program that was launched as a pilot last year in partnership with Lendistry, a minority-led community development financial institution.

The new goal is to loan more than $150 million in the next three years to SMBs that sell on the Amazon store in the United States. 

Community Banks Get SMB Leg Up With FinTech Lending Platform 

Ranqx aims to fix what ails millions of small- to medium-sized businesses (SMBs) seeking faster access to capital from banks and other lenders across the globe. The company began helping to democratize finance in New Zealand in 2014 and announced last month that it has formally launched operations in North America.

“We’re only a small country, and we’ve always been looking to the U.S.,” Ranqx CEO Dave Lewis told PYMNTS’ Karen Webster in a recent interview. 

Startup CFOs Must Balance Rapid Growth Against Short-Term Needs 

A chief financial officer (CFO) of a fast-growth startup must be adaptable and comfortable with “constant transformation,” SoSafe CFO Felix Fichtl told PYMNTS in a recent interview.

Fichtl said his role involves juggling all the challenges that come with growth: “Additional complexity, change requirements [and added] compliance burdens.” 

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