LONDON, January 29, 2018 /PRNewswire/ --
On Friday 26th January 2018, ModulTrade a blockchain-based B2B global trade platform and Yangting Internet Technology, an investment vehicle for Alibaba, announced a strategic partnership to support SME customers using the Alibaba experience.
The agreement opens the door for Alibaba customer base to access new markets and find new partners through the ModulTrade Platform (MTP). ModulTrade operates an order matching, payment and tracking system, using smart contracts on the ethereum blockchain. The system provides transparency and payment certainty without the need for letters of credit or bank guarantees.
The MTP has been designed for use by SMEs and is fully scalable across desktop, tablet and mobile devices and empowers businesses to create, join and manage supply chains knowing that counterparty risk has been removed through the use of the ModulTrade token - the MTRc.
Market participants conduct all business using the MTRc token, which acts to provide proof of funds and support trust across the ecosystem. The use of tokens to support trade and trade finance flows is a significant innovation within the fintech sector and as a result, the agreement is likely to gain greater traction both in Asia and Europe.
Alibaba and ModulTrade will collaborate to support the process of education on the platform and the use of the token, will open a dedicated office in China in Q2 2018, expanding the ModulTrade network of offices in Singapore, Russia and the UK.
ModulTrade are currently concluding a token sale as part of their wider go to market strategy.
The ModulTrade team aims to foster the next commercial revolution in trade finance, with the new concept in developed in MIT during 2016-17. ModulTrade will run off a smart contract Blockchain-based eco system, bringing together a comprehensive range of services for the full B2B trade cycle. Operating globally, the platform will allow for cross-border trade for emerging markets and micro, small and medium enterprises. The product will be accessible online and through smartphones, allowing complex trades to run in real-time, increasing efficiencies and lowering businesses overall costs.
About ModulTrade's Founders
Evgeny Kaplin, CEO
Russian-born Evgeny has 17-years experience in trade finance and payments business and during his career, successfully launched and run highly-profitable global trade finance platforms at leading European banks. Evgeny has a global reach, having worked in key financial hubs, including Singapore, Geneva and London. He has fulfilled successful roles at top financial institutions including Cargill, Sberbank, McKinsey and Gazprom. Evgeny brings his extensive knowledge of the financial trade industry and business acumen.
Jean Chaanine, COO
Jean brings his 25 years of experience in technology and having adopted senior management and strategic roles in the banking sector, provides operational direction to the team. He has delivered projects at UBS, Credit Agricole Corporate Investment Banking, Sodexo, French ministry of finance and Banque de France. The French national, with his entrepreneurial flair, is also Co-founder of a digital concierge platform and an IoT services focussed business.
Karthikeyan Kaliyaperumal, CTO
Karthikeyan has developed his career in Technology Strategy and Product Management during the 20 years since he began working in the sector. His experience working at fortune 500 companies including Aramark, Charles Schwab, Nielsen, brings sound and knowledgeable expertise in building supply chain, finance and marketing platforms. He has also managed global technology teams across Europe, Asia, LATAM and the US. Born in India, Karthikeyan now lives in the USA and provides the technical nous to the ModulTrade project.
Co-founder / Business development
17 years in corporate banking and investments with deep experience in Lending, Project & Structured finance. Executive positions in top banking institutions - Sberbank, Alfa-bank, Gazprombank.
Marco Rosso, Product development
Marco completes the ModulTrade team, providing consultancy in financial risk. He has 17-years experience in the EMEA financial services and banking, and has set up new business structures, developed cost of risk optimization models. He has consulted at the big four, including Ernst & Young.
Alexei Katrich, Co-founder
Alexei is a consultant in FinTech, InsurTech and Blockchain, and has over 20 years of professional IT and banking experience, with a deep and excellent knowledge in banking transformation, product development and information security. During his career, Alexei has held executive roles at IBM, UNISYS, ING, Intesa Sanpaolo, Deutsche Bank and Sberbank.
About ModulTrade's Governance
ModulTrade takes the safeguarding of all participants in the token sale seriously. Security is one of ModulTrade's core principles, with the team taking several steps to provide the best possible governance of the token sale and protection of the platform technology. ModulTrade is working with professional and experienced financial consultants, applying best practice procedures to ensure a structured token sale. All steps have been taken to protect the participant, through implementing independent audits, validation of the ModulTrade proposition and a secure wallet controlled and protected by an independent qualified entity.
Understanding the risks of cyber hacks, ModulTrade is enforcing full cyber security across all ModulTrade online channels. An independent auditor has been recruited to ensure protection and participants' funds are not jeopardised. In the event of a security breach, ModulTrade, with the help of cyber security experts and communications team, will inform participants of such and provide clear instructions.