Introduction to TradeEnabler (TE)

Herve Lacorne, CEO of Winstant Ltd, proudly announces the launch of TradeEnabler (TE), an innovative decentralized trade finance platform. This launch leverages World KYC and Trade Solutions Group technology, making trade finance more inclusive for SMEs and smaller financial institutions, while bringing blockchain transparency to the world of trade finance.

TE offers the opportunity to authenticate compliance of trade documents on-chain, ensuring adherence to the Model Law on Electronic Transferable Records (MLETR). MLETR, established by UNCITRAL, facilitates the legal use of electronic transferable records both domestically and across borders, promoting efficiency and legal certainty in digital transactions.

TE represents a significant evolution by migrating its Web 2.0 trade finance platform and World KYC's authentication technology to advise Letters of Credit on the XDC network. This transition to blockchain is a game-changer, especially for emerging countries where banks often lack the correspondent banking relationships necessary for SWIFT.

With TE, businesses can issue crypto-backed Letters of Credit directly. Banks with high credit risks or those in countries considered high-risk can rely on decentralized finance (DeFi) for confirmation or risk participation. This is where DeFi brings financial inclusion, enabling banks and businesses in challenging environments to access and participate in global trade finance.

In its next phase, TE will leverage artificial intelligence to facilitate the negotiation of Letters of Credit both online and on-chain. AI's capability to increase the speed, accuracy, and transparency of trade transactions will significantly enhance trade finance operations, streamlining the complex process of document examination.

The global trade community adheres to the Uniform Customs and Practice for Documentary Credits (UCP 600), which standardizes terms and practices in trade finance. However, the de-risking strategies of large banks pose a major challenge to the advising of credits, thereby hindering financial inclusion.

By integrating TE's Web 2.0 technology with DeFi and decentralized ledger technology, TradeEnabler empowers financial institutions of all sizes and origins to efficiently service their clients worldwide, addressing the critical need for enhanced financial inclusion.