SINGAPORE / ACCESSWIRE / May 27, 2021 / The rampant adoption of DeFi has witnessed massive opportunities to transform the advanced technology space. The modern and emerging financial industry is today witnessing the convergence of commercial financing and DeFi. Platforms like Polytrade are key to the systematic application of blockchain technology by promoting commercial financing in the world of DeFi.
Polytrade plans to incorporate real-world assets into the crypto world, creating a seamless experience connecting buyers, sellers, insurers and investors. It focuses on providing real-world borrowers with free loan options with low interest rates and fast financing, so it adjusts to the overall experience of small lenders. Moving forward, it strives to build a complete stack lending protocol to boost the growth of small businesses by providing innovative solutions to the DeFi world. Making the most of blockchain technology, it aims to simplify fee financing for real-world borrowers by freeing up critical working capital; by providing liquidity and capital obtained from cryptographic natives.
With a mission to shape the future of commercial financing, Polytrade has successfully closed its funding rounds by raising $ 1.2 million from notable investors and industry leaders, including Sandeep Nailwal (Polygon), Master Ventures, Orion Protocol, AU21 Capital, Spark Digital Capital, LD Capital Limited, Icetea Labs, Momentum 6, Krypital Group, ROK Capital, Ramani Ramachandran (Router), Amesten Capital, Axia Ventures, Shima Capital and DaSheng Capital. The innovative idea has been aligned with the vision of investors to drive the widespread adoption of DeFi.
‘We are humiliated by the trust our investors have placed in us. With our extensive experience and stellar team, we are confident that this trust will not be lost. We also appreciate the push the community has been giving us to achieve more. The journey has just begun, we have more to go, ”said Piyush Gupta, CEO of PolyTrade.
With an experienced team working tirelessly to merge traditional and modern finance, Polytrade is constantly working to address the issues facing the commercial finance industry. One of the main problems is the $ 1.5 trillion gap between short-term credit supply and demand. Polytrade is targeting the whopping $ 7 trillion and US $ 1.5 trillion industry, which is still unaddressed due to various issues of conventional trade finance financing practices. Significant financial institutions, such as the World Economic Forum (WEF), the Asian Development Bank (AfDB) and others, have argued in favor of the prevailing problems and the lack of innovative solutions for them. The tedious processes of traditional banks, paper-based procedures, strict regulatory policies, banking regulations, fraudulent activities, and restrictions on transactions have made it possible for users to make an entire trip.
Redefining commercial financing through innovative solutions
Building on the Polygon network, Polytrade strives to fine-tune the entire experience of an average merchant related to the financing of dues. He is currently working to symbolize real-world assets that use blockchain technology to support the seamless transfer of assets to the chain. It is also actively working to create a liquidity pool and provide insurance-backed investments to cryptocurrencies by strengthening a security aspect to attract investors. Although cryptocurrencies are dynamic in nature, they aim to minimize risk to investors in relation to volatility. Through Polygon, Polytrade aims to bring scalability, low transaction costs and high performance to its ecosystem.
Sandeep Nailwal, COO of Polygon, believes that commercial financing is one of the indispensable aspects of the financial space.
“It is exciting to see POLYGON become the platform of choice not only for native cryptographic companies, but also for applications related to centuries-old commercial finance. The POLYTRADE team has a lot of experience in the invoicing business with 500 million invoices. of US dollars in the last 6 years. Getting this business working well in blockchain will be the push that both worlds need so much “
The platform is ready to develop this product and do marketing activities. As part of the initial stages of product creation, Polytrade has successfully closed funding rounds and secured strategic partnerships. The team has already released the white paper, launched the website, social platforms and initial documents advocating continuous progress on the product front.
As part of future milestones, the team will work on mobile application design, web interface, launch of a liquidity pool and execution of the first transaction.
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