Credit Insurance Firm Partners With Blockchain Startup Fluent

Pete Rizzo
Oct 24, 2016 at 22:49 UTC
Updated Oct 24, 2016 at 22:53 UTC

Fluent has partnered with credit insurance provider and Allianz subsidiary Euler Hermes.

Announced today, the blockchain startup used its speaking slot at Money2020 to formally unveil the partnership, as well as demonstrate how users of its trade finance platform can fund trades, settle payments and access receivables.

More ambitious than some distributed ledger projects, Fluent has built its own blockchain technology and business-to-business marketplace for trade finance called the Fluent Trade Asset Marketplace. With the news, Fluent will now leverage its new partner’s API to deliver credit insurance within that solution.

CEO Lamar Wilson told the audience:

“If anyone knows about trade finance, you know this will help us create working capital solutions anywhere in the world.”

The announcement comes amid heightened interest in how distributed ledger solutions could come to revolutionize global trade, though these trials are showing signs of moving toward real markets.

Most recently, Commonwealth Bank and Wells Fargo announced they had successfully used a blockchain to facilitate an exchange between a cotton buyer and seller, while Barclays and its incubator startup Wave completed a similar transaction for $100,000 worth of goods in September.

Image via Pete Rizzo for CoinDesk

Disclosure: CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake in Fluent.