Crypto News 

Tradeshift Launches Blockchain-Powered B2B Payments

“Supply chain management company Tradeshift is heightening its presence in the B2B payments space through the launch of Tradeshift Pay and is introducing a blockchain-powered early payments service as part of the new offering” reports pymnts.com. A press release on Monday (May 21) said the company is rolling out its cloud-based supply chain payments, supply chain finance and early payments offering into an integrated solution. Biz2Credit launched its app in the Tradeshift platform for buyers and suppliers to seek capital and finance their trade operations.Tradeshift Pay aims to unlock working capital…

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China-style state-led growth won’t work in Africa, former Nigeria finance minister warns

“But as ties continue to strengthen, a former Nigerian finance minister has warned that Beijing-style economic governance will not work for Africa” writes Pius Utomi Ekpei for cnbc.com. “China has been very helpful,” particularly with building much-needed infrastructure in Africa, Ngozi Okonjo-Iweala, a two-time former finance minister in Nigeria, told CNBC on Wednesday.But while less economically advanced countries may wish to emulate China’s economic success, the Chinese approach of state-led development would prove unsuccessful for the majority of Africa, she said. “In most African countries, it has been shown that…

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The House Financial Services Committee will investigate Fannie Mae over a report that one of executives has been lobbying to get the bailed-out mortgage giant out of the government’s hands, chairman Jeb Hensarling said Friday.

“Asked for comment, a representative for Fannie Mae said that the company does not lobby and has not advocated for any specific housing finance reform” writes Ap Photo Manuel for washingtonexaminer.com. Congress has failed to advance reforms to the housing finance system, though, of the Trump administration pursuing action on its own to resolve their status.Under the terms of the 2008 bailout for the company, it is not supposed to engage in political advocacy. Source: washingtonexaminer.com Share This:

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Crypto News 

Infosys Finacle Tests Trade Finance Platform With Indian Banks

“Infosys Finacle first announced its blockchain trade finance solution for banks last year after 11 banks participated in trials” reports pymnts.com. Together, the entities have formed a network to pilot Finacle Trade Connect, the firm’s trade finance process management tool for lenders.In a press release, Infosys Finacle said it has successfully launched India Trade Connect, a trade network developed with Axis Bank, ICICI Bank, Induslnd Bank, Kotak Mahindra Bank, RBL Bank, South India Bank and Yes Bank.Seven banks in India have struck an agreement to collaborate with digital banking service…

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Markets News 

Cash Flow Bottlenecks Drive Supply Chains Toward Factoring

“Adding a factoring solution into the mix means addressing yet another point of financial friction for this piece of the supply chain, Kropp said” reports pymnts.com. Trade finance has evolved into an expansive market that combines supply chain finance, invoice finance and factoring, reverse factoring and a slew of other products – all aimed at ensuring that cash flows more easily through supply chains.With such a wide opportunity for financiers to meet demand in global supply chains, and with cash flow management an ongoing headache for supply chain participants, it’s…

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Crypto News 

India’s Infosys sets up blockchain-based trade finance network with seven banks

“MUMBAI (Reuters) – India’s Infosys Ltd has formed a blockchain-based trade finance network in partnership with seven private-sector banks, to raise efficiency in the banking sector and strengthen its product offerings” writes Midwest Communications Inc for 95kqds.com. India’s second-biggest software services exporter, whose Finacle software is used by the majority of Indian banks, is also in talks to sign up more domestic and foreign banks to the network, a senior company executive told Reuters on Wednesday. Sanat Rao, chief business officer at Finacle, said banks currently testing the blockchain-based trade…

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The Finance 202: The president’s decision draws bipartisan backlash

“The Trump administration is increasingly preoccupied with its efforts to reach a peace deal with North Korea and avoid a trade war with China” writes Covering Financial Services for washingtonpost.com. Stephen Colbert on President Trump’s defense of efforts to help Chinese telecom giant ZTE: An auto exhibition in Saudi Arabia is giving women a chance to learn about finance and take cars for trial spins:.  Source: washingtonpost.com Share This:

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Citi Inks $100 Million Trade Finance Deal With Asian Development Bank

“Global financial institution Citi is expanding its existing partnership with the Asian Development Bank (ADB) to share risk in trade finance transactions, reports in The Financial said Friday (May 11)” reports pymnts.com. The ADB’s Trade Finance Program reached a deal worth $100 million with Citi that sees the financial institutions (FIs) sharing risk on trade finance transactions in an effort to bolster support for trade and access to finance across Asia. “ADB’s continuing partnership with Citi will help to address the funding needs of small and medium-sized enterprises for trade…

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