With its headquarters located in GIFT City and operating under a license from the International Financial Services Authority in India (IFSCA), Vayana TradeXchange is a global marketplace that offers financial services for cross-border trade. It is a component of the Vayana Group, which runs the biggest domestic supply chain financing regulated network in India.

The United Arab Emirates (UAE), Singapore, India, and the United Kingdom (UK), which are at the forefront of the world's trade digitization, will be the partnership's initial priority countries. These nations have adopted laws that offer legal recognition to digital negotiable instruments (DNIs), enabling them to take the role of wet ink paper contracts. These laws are based on the UN's Model Law on Electronic Transferable Records (MLETR).

The legalization of digital assets is expected to revitalise the $17 trillion global supply chain financing business, which is expected to increase at a rate of 3% annually.

The Vayana Group has helped over 300,000 Indian businesses by facilitating loans worth over $30 billion. By enabling seamless cross-border working capital availability, Vayana TradeXchange transforms cross-border trade finance.

With its innovative technology, Arqit creates digital financial instruments that are distinct, transferable, and referenceable. These instruments have a wide range of commercial uses and help companies get closer to liquidity pools and enhance their cash flows. Arqit is a global leader in completing legal review and making them provably secure in order to meet with the new criteria.

Through this arrangement, importers may maximize their cash flows by obtaining financing from banking institutions all over the world, while exporters can use DNIs to easily access working capital against their trade receivables.

"We are delighted to partner with Arqit to help companies unlock their working capital using these highly secure digital negotiable instruments," stated Kalyan Basu, MD & CEO of Vayana TradeXchange. This cooperation gives businesses better access to investors and financiers who are willing to lend against receivables based on the negotiation of digital promissory notes and bills of exchange produced on TradeSecure. Export commerce from India alone is anticipated to surpass $2 trillion by 2030. With a safe, end-to-end digital journey, DNIs will provide asset owners with a great deal of freedom in terms of access to a sizable pool of reliable investors.
 

"The market for digital negotiable instruments is expected to exceed $4 trillion per annum," stated David Williams, the founder of Arqit. With this agreement, Arqit's innovative TradeSecure—the only DNI solution that satisfies the new laws and offers permanently verifiable security—combines with India's top cross-border supply chain finance platform. We can't wait to work with Vayana TradeXchange to expand this partnership."

The Commonwealth Enterprise and Investment Council Chairman, Lord Marland, declared: "The UK government has led the world in legislating to digitize trade finance." India is an important commercial partner, and I'm happy to see that Indian and British businesses are now dominating the global economy.