XinFin Presenting inFactor.io to BPIFrance (French Public Investment Bank) in Singapore.
Team XinFin Presented, XinFin Hybrid Blockchain & inFactor.io ( Invoice Factoring ) for Financial institutions globally on 17 Jan 2019 in Singapore.
Atul Khekade, Co-Founder and Wing Puah, Project Coordinator of XinFin presented XinFin Hybrid Blockchain and inFactor.io, a standardized Dapp for financial institutions globally on 17 January 2019 in Singapore.
Team XinFin presented the product Invoice factoring and enabling access to liquidity from global financiers through a peer-to-peer network to the senior most management of BPI France (A $60 Billion EUR Public Investment Bank owned by France Government).
The target market is 450 Million SMEs, 100,000,000 accredited Financiers, 100,000 Financial institutions, 10,000 Corporate and Government Institutions. The annual market size might be approximately USD 5 Trillion.
Atul Khekade, Co-Founder of XinFin expressed his experience about the meeting.
“It was pleasure to present the hybrid architecture of XinFin Network that allows public trust network & law of the land compliant privacy data channels to relay limited set of data and transactions on XinFin Public Network.
Also presented inFactor.io, a testnet PoC level global framework for Invoice factoring or financial instruments discounting that lets buyers, sellers and financiers, share invoices, convert them into digital assets and enable financing using XDC Protocol as a channel for relaying standardised Data and liquidity between fiat currencies.
Next step will be to Invite BPIFrance to conduct live transactions in Sandbox Limit of 100,000 USD or EUR authorized by ADGM on inFactor.io built on XDC Protocol.”
About BPI France
BPIFrance, the public investment bank, supports companies, from the start up to the listing on the stock market, of the credit to equity. Privileged interlocutor, BPIFrance offers in each region financing or investment solutions adapted to each stage of the life of companies.
BPIFrance is a citizen bank with a code of ethics and an anti-corruption policy. BPIFrance is a partner bank for entrepreneurs and supports them on a long-term basis to support their growth and competitiveness. The teams are at the heart of the regions, throughout the country, through more than 53 regional sites.
About inFactor.io
inFactor.io is an open standards framework for managing Invoices, orders between buyers and sellers and getting access to liquidity from global financiers through a peer to peer network. inFactor.io is built on ISO20022 based standards and can interact with data from any system in enterprise or banking and financial systems environment.
The Hybrid network architecture of XinFin allows the enterprises and institutions to host sensitive data in a private network and only relay relevant information of it on the XinFin public network.
XDC Protocol enables the data from invoices to be standardised and shared over ISO20022 format for Invoices yet giving it an immutability and verification through cryptographic hashes.
Link : https://www.iso20022.org/trade_services_messages.page
XDC Protocol also allows buyers, sellers and financiers to quickly swap between any FIAT currency using XDC Protocol as a relay bridge thereby enabling instant liquidity and counterparty risk mitigation.
For More information, visit : inFactor.io
XinFin community welcomes Collaborators and global institutions to be part of the Consortium Network.
For more details : https://www.tradefinex.org/publicv/consortium
XinFin is a decentralized Blockchain platform that runs smart contracts and provide cross-chain interoperability, and is fully EVM compatible. Learn more about XinFin in the video below.
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