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Industry roundup: 29 January

OANDA and Currencycloud partner on cross-border payment solution for North American corporates

OANDA has partnered with Currencycloud to launch an international money transfer service to companies in North America. Called OANDA FX Payments, the solution has been made possible through a joint collaboration with Shift Connect.

OANDA FX Payments enables corporate clients to make cross-border payments in 35 currencies through an online platform. The solution is designed to help companies reduce the cost of international transactions while hedging their currency risk and protecting their bottom line.

The partnership combines OANDA's expertise in foreign exchange with Currencycloud's payment technology and Shift Connect's customer support to offer an international money transfer solution for businesses, large or small.

The service is available to corporate clients through OANDA Business Information and Services Inc. The firm also offers a range of FX data services including an exchange rate API that provides access to daily averages, spot and forward rates, central bank exchange rates and tick-level data for more than 38,000 currency pairs, and over 200 currencies, commodities, and precious metals.


Ledgermatic launches digital asset management service for treasurers

The team behind Custody Digital has announced the launch of Ledgermatic, which is described as a push to modernise corporate treasury solutions. The Ledgermatic tools will integrate with existing banking and ERP software to allow users to manage traditional and digital assets together and to unlock liquidity from both types of assets through one portal. It is designed to help financial organisations future-proof their corporate treasury services, in order to remain compliant and profitable.

Built on confidential computing technology produced by IBM Cloud Hyper Protect, the Ledgermatic digital asset platform aims to provide the highest levels of security and compliance to safely connect CFOs and treasurers to a set of digital-asset-denominated financial products and risk management tools. Underpinning the service is Ledgermatic’s own 'Confidential Key Construction' (CKC), which preserves non-repudiation and embeds governance and controls into all key shares to guarantee provable decision making.

“As the world moves towards a token economy, finance teams are faced with an opportunity to modernise their business today so they can safely integrate digital assets tomorrow," said Luke Sully, CEO at Ledgermatic. "We are excited to be developing Ledgermatic’s suite of treasury technologies to enable enterprises and financial institutions to take advantage of this exciting new era with low risk and high control.”


Bolero and Incomlend target the trade finance gap

Bolero International has announced a joint project with global invoice marketplace Incomlend. The project will expand Bolero’s reach, combining its ePresentation and electronic Bill of Lading technology with Incomlend’s model of supply chain finance to help close the ever-widening trade finance gap.

Together, the two companies aim to simplify and streamline cash against documents transactions, using digitisation to enable fast, secure transfer of electronic (title) documents over the Bolero platform and more rapid payment. The process is designed to eradicate the delays and errors associated with paper documents and reduce vulnerability to forgery and fraud. With access to Incomlend’s supply chain finance resources, small and medium-sized companies will have access to a non-bank trade finance provider.

Incomlend clients using the service will have access to a digitised process that employs Bolero’s electronic bill of lading (eBL) as a negotiable document in cross-border trade transactions. The eBL is tied to supporting documentation such as certificates of origin, invoices and packing lists. Incomlend will act as the trusted party between sellers and buyers to enable payments to be affected and electronic documents to be exchanged by Incomlend against agreed instructions.

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