InvoiceMate Celebrates Milestone with Successful Private Credit Pilot on XDC Network using TradeFinex Open Web3 Standard

[Dubai, DECEMBER 21, 2023] In a major milestone, InvoiceMate has wrapped up a successful pilot initiative, showcasing the seamless tokenisation of an invoice using the XDC blockchain protocol.The project harnessed the power of TradeFinex’s open source smart contract standards.

In a groundbreaking transaction, InvoiceMate showcased the potential of obtaining liquidity by tokenising a Real World Asset (RWA). Acting as the loan originator, InvoiceMate secured funds for client H & H International LLC through the tokenisation of essential documentation including the invoice. This streamlined process resulted in a cash flow of $FXD 100,000 (FXD) for a 60-day period. $FXD is a fully decentralised stablecoin softpegged to US Dollars and overcollateralised with the $XDC token using the Fathom Protocol and primarily focused on for RWA DeFi use cases. The success underscores blockchain-powered financing’s efficiency and innovation in traditional finance.

InvoiceMate successfully achieved the following milestones:

  • Converted a paper-based invoice into an electronic invoice.
  • Tokenisation and fractionalisation of the electronic invoice.
  • Capital provisioning against the fractionalised electronic invoice for a 60-day period using FXD stablecoin.

Participants in the pilot included:

  • InvoiceMate: Loan Originator & Tech Facilitator
  • H & H International LLC: Client
  • Eclipton: Institutional Digital Asset Custodian
  • TradeFinex : Open Source Smart Contracts Standard Reshaping the Trade Finance and Private Credit Landscape

Solutions used in the pilot:

  • Resource for open source Smart Contract standards for RWA focused in Private Credit Solutions
  • Blockchain Network : XDC Network is an Enterprise-Grade, Open-Source Blockchain Protocol.
  • $FXD: Stablecoin soft pegged to USD and overcollateralised using the $XDC token
  • Eclipton: Institutional Digital Asset Wallet to customise as well as on/off ramp for stablecoin FXD to USD and vice versa.

This pilot transaction is an important milestone in the partnership between TradeFinex and InvoiceMate, a FinTech with a platform focused on Invoice Financing.

Said Muhammad Salman Anjum, CEO of InvoiceMate, “This successful transaction represents the first step in our collaboration with TradeFinex using XDC Network. We are actively exploring the XDC Network as the blockchain protocol for future pilots within our invoice financing platform.”

“Deploying smart contracts powered by the XDC protocol allows us to address the MSMEs funding gap in trade finance. We look forward to scaling up Private Credit deal flow with like-minded partners and establishing standards within the RWA space using Powerful Smart contract Standards created by Tradefinex.” commented Chen Shanlong, Marketing and Partnerships Lead of XDC Network and TradeFinex.

Added Mahesh Kumar, CEO of Eclipton, “Eclipton’s core value is to bring more use cases to the blockchain and crypto industry, offering access to a wide range of financial instruments, including stocks, crypto, bank accounts, and cards, all in one place. The collaboration with XDC and Invoicemate further strengthens Eclipton’s commitment to expanding blockchain applications and fostering financial inclusion through innovative solutions.”

About InvoiceMate

InvoiceMate is the world’s first blockchain-based invoice management system, ensuring trust and efficiency at every stage of invoice processing. The blockchain and AI powered system ensure transparency across the whole invoice journey from invoice creation, approval, payment, and financing.

About TradeFinex

TradeFinex.org – An institutional grade ISO20022 compliant non-custodial protocol for Trade Finance built on standardization and built in liquidity of XDC Network via Fathom dollar (FXD).

TradeFinex ensures a truly open source and decentralized environment for originators, banks, institutions and users.

About XDC Network

The XDC Network is an open-source, carbon-neutral, enterprise-grade, EVM-compatible, Layer 1 blockchain, operational since 2019 focusing on Enterprise use cases such as Trade Finance, Payment and RWA tokenization. More details at: Xinfin.org

About Eclipton

Eclipton.com is a Digital Custodian and Exchange, forming a crucial part of the comprehensive cryptocurrency ecosystem designed to provide financial freedom through AI. Eclipton’s services encompass on and off-ramp solutions in over 8 countries and access to over 100,000 traditional instruments and crypto instruments. Eclipton’s payment gateway helps Web3 on and off-ramp with one-click integration, inbuilt risk management, and auto-settlement features.

Shopping Cart

Media Kit

    Data Protection

    Personal Data (“Data”) submitted for Media Kit (“Media Kit”), and/or collected in the form of first name, last name, email address and other contact details may be used for the purposes of inviting you to future events and for reaching out to you with content which may be of interest to you. For these purposes, The Digital Banker will share the Data with our associate companies (including event and content sponsors) to promote their products and services. You will also be automatically subscribed as a user on www.thedigitalbanker.com. If you would like to opt-out, email us at [email protected].

    By clicking Submit, you acknowledge that you consent/ have sufficient informed consent to the collection, use and disclosure of Data as set out above.

    The Digital Banker Summit

    Moving on from FTX: is 2023 the year of CBDCs?

    Indonesia, Jakarta

    Thailand, Bangkok

    Philippines, Manila

    Contact Us

      Data Protection

      The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

      Request Nomination Pack

        Data Protection

        The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

        Registration Form

          Data Protection

          The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

          Registration Form

            Data Protection

            The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

            Registration Form

              Data Protection

              The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

              Registration Form

                Data Protection

                The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

                Registration Form

                  Data Protection

                  The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

                  The world’s preeminent Private Banks and Wealth Managers are demonstrating a committed drive in innovation, advisory, new products and services to meet the sophisticated needs of their clients.

                  COVID-19
                  Amid economic activity revival on the back of the Covid-19 vaccine program, organisations moving from business continuity plans to stable working environments, together with the slightest improvement in unemployment numbers, forced the world to adjust to new realities. Coming to terms with the “new normal”, global investors are now on the look-out for attractive and stable investment opportunities.

                  Needs of Private Wealth customers and families worldwide have drastically changed due to the pandemic and banks have had to accelerate efforts to deploy a multi-channel service strategy and safeguard clients’ businesses and wealth against negative impacts of economic uncertainly.

                  The Global Private Banking Innovation Awards will recognise the world’s best private banks, wealth managers and asset managers that are championing innovation across advisory, service, products, customer experience and more.

                  Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. 

                  Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laborum.

                  Request Nomination Pack

                  Error: Contact form not found.