The Factorin blockchain platform for trade finance processed 1.4 million transactions, and its turnover exceeded $1.1 billion, according to representatives of the platform.
Factorin aims to address document workflow issues, as well as data confidentiality and security.
Retail networks, as well as 37 banks and factoring organizations, and hundreds of supplier companies are connected to the platform. Over its lifetime, Factorin has financed more than 665 thousand deliveries.
Among the platform’s clients are Russian retailers Magnit and Dixy.
The Dixy Group and GPB-Factoring LLC began testing the blockchain platform to automate factoring operations in 2018.
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