CIC launches blockchain-powered global physical commodities e-trading platform

(FinTech Innovation) – Commodities Intelligence Centre (CIC) has launched Singapore’s first physical commodity B2B e-trading platform, together with its key industry partners ZALL SMARTCOMM (ZALL, a major B2B player in China), GeTS (Global eTrade Services) Asia Pte Ltd., a subsidiary of CrimsonLogic (a provider of eGovernment products and services, based in Singapore), and Singapore Exchange Limited (SGX). CIC is a one-stop global trading platform built on blockchain technology that aims to provide commodity traders around the world access to a range of services from transaction matching, one-click customs clearance, to supply chain financing and payment term options, as well as greater pooling of resources for both buyers and sellers. CIC trades in an extensive portfolio of products for which it has long-term and short-term business targets, including Oil & Petroleum, Chemical & Plastic, as well as Ferrous & Non-Ferrous Metals, and Agriculture Products. Since its trial operation in July, CIC has nearly reached a turnover of US$200 million – covering markets including China, Switzerland, Australia, India, Malaysia, and other countries within Asia – which includes successfully completing a Chinese silk reel transaction to India, as well as the import of a batch of UAE PVP materials into China. Powered by… continue reading

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Source: CTRM Center

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