Distichain and SECDEX partner on digital custody and payment services
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Distichain and SECDEX partner on digital custody and payment services 17 August 2020London Reporter: Rebecca Delaney
Image: Mister Dreamer/ Adobe Stock
Distichain has partnered with SECDEX Digital Custodian for integrated digital custody services and blockchain-based payment technologies.
As the first regulated operational digital custodian in the Middle East and Africa, SECDEX is authorised and regulated by the Seychelles Financial Service Authority.
The integrated Distichain B2B trading platform and SECDEX services solution set has gone live via the GMEX Fusion suite of centralised and blockchain distributed ledger technology.
The platform features a secure digital wallet and banking services, as well as digital custody and escrow financial institute licenses.
Both buyers and sellers connected to Distichain’s trade engine will be able to transact large amounts in a secure environment. Verified buyers will pay for goods instantly by payment transfers on agreed due dates.
Hirander Misra, chairman of SECDEX Group, commented: “We are delighted that SECDEX Digital Custodian has partnered with Distichain to digitally improve the efficiency of B2B global trade between buyers and sellers.”
“As a result of the COVID-19 pandemic, the need for smart e-commerce marketplace solutions, which facilitate ease and certainty of trading through enhanced digital automation, lower costs and trust, is greater than ever before.”
Haisam Jamal, co-founder and CEO of Distichain, added: “Our partnership with SECDEX allows Distichain-empowered marketplaces to deliver digital custody and transaction settlement solutions in real time and from within the platform.”
“Since trading, supply chain and banking participate in each transaction under a unified and impartial set of rules, Distichain’s B2B e-commerce truly secures, simplifies and empowers global trade for small and medium enterprises. Our intention is to even the playing field for companies to trade in a trusted environment and based on the unbiased merit of their offering.”
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Image: Mister Dreamer/ Adobe Stock 