New Zealand’s ASB Bank has invested in early-stage blockchain company TradeWindow, according to reports.
TradeWindow is the developer of a trading platform based on blochchain technology. By utilizing the digital ledger tech, the company argues that it can boost cybersecurity and prevent fraud whilst making deals more accessible for the parties involved.
The company trialled its solutions last year with ASB Bank, according to Scoop Business. It’s on the back of this partnership that the bank decided to invest in the startup as the trial helped reduce costs and improve efficiencies.
It will use the money to invest and research in creating an even better product. The company also hinted that TradeWindow’s first commercial product may be released very soon.
The company has also signed partnerships with export documentation compliance company Prodoc and the Independent Verification Services. It is also in the process of acquiring these companies, according to Scoop Business.
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