Both organisations dedicated to tackling the high cost of capital and slow payment cycles for suppliers and brands through blockchain technology
London, UK — 17 September 2018 — Sweetbridge Alliance Network, the worldwide organization driving liquidity and transparency for global supply chain networks, today announces it has added InstaSupply, known for digitizing and financing supply chains for mid-sized businesses using blockchain, to its Network and named it an official reseller of Sweetbridge protocol technologies.
Through this collaboration, Sweetbridge’s liquidity protocol will provide low-cost access to capital for the InstaSupply customer base of mid-sized (companies averaging roughly USD $30M to $2B annual revenue) buyers and suppliers located around the world. As a reseller of the≈InstaSupply can instantly settle supplier invoices, enhancing its current solution.
The cloud-based InstaSupply service, which currently serves thousands of businesses and settles over tens of millions a year in transactions, can now call on Sweetbridge protocols to offer companies and their suppliers access to low-cost capital with better terms and better responsiveness and functionality that is currently available through traditional banking resources for trade finance.
Lee Pruitt, CEO of InstaSupply, said:
Sweetbridge’s blockchain liquidity protocol enables us to offer the most competitive supply chain finance solution to SME businesses. This is a massive differentiator compared to traditional financial institutions and incumbent technologies, and is a game-changer for us and the suppliers we work with.
Over the course of the past few months, I got to know the team at Sweetbridge extremely well and we discovered clear synergies for our technologies. Based upon our shared vision for faster, fairer and more liquid supply chains, we felt it made perfect sense to work together and form an alliance of this kind.”
Scott Nelson, Chairman & Founder of Sweetbridge, said:
Given Lee’s impressive history in business supply chains and InstaSupply’s extensive network of business customers, Sweetbridge’s liquidity protocol was a logical fit for those organisations looking to be paid instantly on better terms. We are looking forward to finding a better way for these supply chain SMEs to transact, and more importantly, for delivering a business model for the future”.
The two parties will leverage the complementary relationships of the Sweetbridge Alliance Network of leading blockchain technologies. This includes the membership and support of the Accord Project, providing programmatic legal contract functionality to support blockchain smart contracts, and Mattereum, a legal-technical interface for blockchain agreements and dispute resolution on the network.
The Sweetbridge network is set up to fuse the power of blockchain technology with real-world value transfer to unlock significant GDP growth. Anchored by a set of protocols, its product stack solves fundamental problems hampering commerce today: reconciling the legal, accounting, payment and identity of all parties, providing real-time audited financial results and building a trusted network that is never out of sync. For more information, follow Sweetbridge on Twitter at @sweetbridgeinc or visit https://sweetbridge.com.
InstaSupply is a software company that digitizes business supply chains for mid-market businesses worldwide. InstaSupply connects B2B supply chains together online in one place to provide greater automation, better business intelligence, and bring clarity to processes traditionally managed offline. For more information visit https://instasupply.com.
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