Cross-border physical commodity trading platform
Binkabi is developing a decentralised, cross-border physical commodity trading platform that leverages blockchain technology.
core innovation, Barter Block, empowers developing countries to trade
securely and cheaply with each other in their local currencies
See proof of payment from
buyers before shipping
See pre-shipment inspection
and bill of lading before initiating payment
Secured by the blockchain
Secured by the blockchain through
our Barter Block innovation
Pay on success
Only pay transaction fees on success of trade.
Real FX rates
Real FX rates.
No hidden charges.
Digital trades enable efficient work flow management and cost savings.
Power the whole trading network
Trade directly and globally, improving profits, reducing uncertainties and unjustified quality claims.
Smaller farmers can benefit from market information to negotiate higher prices and competitive financing from banks.
Save FX costs
the best deal directly with exporters. When the deal is done and goods
are accepted, pay in local currencies at real exchange rates. Goods are
subject to pre-shipment inspection so quality is ensured.
Negotiate the best deal directly with importers. See proof of payment
from importers before shipping. Get paid once the goods are accepted by
importers. Reach new buyers in another part of the world.
Better serve the SME segment, the core engine of economic growth.
Increase deposits from SMEs, provide financing and insurance solutions
based on trading histories that were never before possible.
Lower barrier to entry
Smaller tradable quantities (e.g. in units of containers), secure
payment and product quality assurance, and help smaller players to enter
direct import/export markets, increasing competition and lowering
Block reduces the use of US$ in trade payment, reducing pressure on
local currencies. Users are incentivized to find profitable trades in
specific corridors and in doing so automatically balance trade flows.
new customers who are trading on the platform. Work with Binkabi to
digitise shipping documentation, bills of lading to streamline
processes. Optimise shipping schedules to save costs for all involved.
Save time and cost
trade is highly manual as well as fraud and error prone. Trade
digitisation, immutability and the traceability of the blockchain reduce
wasted time and costs due to paper trails, disputes and frauds. All
parties share the same transaction record.
The world's first smart bartering protocol on the blockchain
key innovation, Barter Block™, allows bilateral trades to be settled in
local currencies, saving FX costs and increasing profits in
international trade. Barter Block™ is the world's first smart bartering
protocol on the blockchain.
Opposite trades are blocked
together for the purpose of settlement. Barter Block™ could be formed
pre- or post-trade, between one export trade and one import trade or
many export trades and many importer trades provided that within a
country, trades net down to near zero and their settlement dates are
close together. The chart above shows four different scenarios of Barter
Barter blocks could be formed by a netting algorithm
(computer will make recommendations to parties based on open orders) or
manually by parties involved in a trade upon receiving an incentive by
the Binkabi platform.
The performance of individual trades are
enhanced by the blockchain and there are no interdependence among the
trades within a Barter Block. If for some reason, a trade within a
Barter Block doesn't complete our platform will automatically find
another replacement trade so as the net FX exposure is minimised.