Tradeshift launches first blockchain based end-to-end payment platform

The solution has been supported by more than a dozen major banks and card providers, including Santander, CreditEase, and HSBC. Plus, American Express and Tradeshift Go.

Tradeshift, a cloud-based business network has launched the first and only cloud platform 'Tradeshift Pay' to bring supply chain payments, supply chain finance, and blockchain-based early payments together into one unified solution.

The platform enables the users to use a single wallet to handle all your payments, end-to-end, across all channels, both regular and blockchain-based early payments in one platform in the cloud.

In a blog post, Christian Lanng, CEO of the company said, "with a platform that works both on and off blockchain, businesses can give smaller unbanked business and companies access to electronic payments and finance, anywhere in the world. And companies can get paid much faster–from an average of 30-45 days in EU and US down to a couple of days–helping address the USD 9 trillion supply chain liquidity problem."

The solution has been supported by more than a dozen major banks and card providers, including  Santander, CreditEase, and HSBC. Plus, American Express and Tradeshift Go.

As the market leader in accounts payable automation, e-invoicing, and global tax compliance solutions, Tradeshift brings a history of innovation to the growing B2B payments market, which is expected to reach USD .2 trillion globally by 2020, the blog added.