Marketplace trading platform LiquidX is rolling out its Supply Chain Finance (SCF) program on its new web-based portal, the company said in a press release on Thursday (Dec. 19).
A global network for illiquid assets, LiquidX offers multiple trade finance and insurance products. The first SCF program will shine a light on LiquidX’s global onboarding and execution capabilities, same-day funding and “investor appetite within the high-yield credit market.”
Jim Toffey, CEO of LiquidX, said SCF adds to the company’s “growing suite of trade finance, working capital and insurance solutions. Clients can now transact across SCF, accounts receivable, inventory finance and trade credit insurance all in one place.”
The SCF platform operates on a cloud-based web portal and is a multi-funder working capital solution.
“LiquidX makes it seamless for customers to implement an SCF program: We help structure the program, handle the supplier onboarding and arrange the funding, all within weeks,” said Andrew Chu, head of product at LiquidX.
“The SCF program is a great complement to any existing working capital program – our comprehensive product suite allows us to meet all of a company’s working capital and trade finance needs through one technology platform,” he added.
LiquidX was founded in New York City in 2015 and has executed over $25 billion of trade volume since 2016. It is the largest electronic marketplace for the exchange of trade finance assets. The transaction-based marketplace offers “a transparent platform for tapping the capital markets to deliver the best price execution for trade finance assets,” its website indicated. The marketplace is open to large corporations, banks, asset managers, hedge funds, insurers and family offices to trade risk and to invest in the trade finance asset class.
In August, LiquidX announced its collaboration with a traditional bank in Asia, the Singapore-based DBS Bank. Their partnership pulls DBS onto the LiquidX network to connect its own business customers with access to trade financing solutions and products. At the same time, LiquidX announced the opening of an office in Singapore, where it will headquarter its operations in Asia.