Tradeshift to cut cross-border B2B payments costs
Tradeshift, a San Francisco based cloud payments and platform for supply chain payments, is reducing its cross-border transaction fees by utilising the public Ethereum blockchain. Currently, Tradeshift has two million firms on its platform.
“We have taken an accepted invoice and tokenized it on Ethereum. On the due day, a smart contract automatically swaps the tokenized invoice for the eMoney that is on-chain,” said Gert Sylvest, co-founder of Tradeshift and GM of Tradeshift Frontiers.
The company says it is utilizing the blockchain tech to cut down the cost of payments.