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Opalesque Industry Update - Kimura Capital LLP, a London-based provider of trade finance credit for commodities, and Haycen Ltd, a B2B digital currency and payments business, announced a collaboration on digital trade finance solutions.
This partnership signifies Kimura's commitment to digital innovation in the multi trillion trade finance industry that is expected to increase over the coming decade. Kimura and Haycen aim to leverage digital currencies to enhance efficiency, reduce cost and expand sources of capital in this vital component of global trade flows. Through Haycen's secure digital currency solutions, Kimura aims to streamline capital usage, further strengthen cash flow control, and ultimately deliver higher returns to its investors. Backed by both Irish and UK governments, Haycen is at the forefront of developing institutional digital currency solutions for corporates and financial intermediaries. Introduction of digital currency trade finance products will start in Q4 after running live trials in collaboration with specific borrowers, Kimura's global ecosystem. Haycen's regulated products offer trade finance businesses a cost-effective way to hold and transact in digital currencies, simplifying B2B, cross border payments with modern infrastructure at a significantly lower transaction and deposit cost than traditional methods. Haycen also enables users to automate, track, govern and disburse digital payments and manage collateral. Kimura founder & CEO Kristofer Tremaine commented: "Our partnership with Haycen represents a transformative step towards integrating financial technology into our core business. This collaboration promises significant improvements in scale, volume, and distribution, propelling us beyond traditional processes. We chose Haycen after a thorough evaluation process, confident in their expertise and innovative solutions." Haycen founder & CEO Luke Sully commented: "We are thrilled to partner with Kimura Capital, a forward-thinking leader in trade finance. Our collaboration validates the potential of digital currencies to revolutionize lending processes. Haycen's ongoing product development goes beyond stablecoins, paving the way for a future powered by digital money."
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Industry Updates
Kimura Capital embraces digital trade finance with Haycen partnership
Wednesday, June 26, 2024
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