A leading fintech company for trade and trade finance collaborated with a Singapore-based company, launching a new logistics module, blockchain-enabled, expanding Kratos that will enable shipping stakeholders to easily collaborate and do business together.
Accordingly, Triterras Inc. joined forces with Seven Oceans to digitize key information to enable shipbrokers, operators, and shipowners to do business together—further with their commodity trading partners.
Representing the aim of digitalization in shipping, the module decreases the use of paper-and-email-based legacy systems, expedites the freight-contracting process, reduces transaction times for shipments, and helps the counterparties to better manage their assets and maximize decision-making.
Triterras Chairman and CEO Srinivas Koneru stated that through this module, the industry will make a leap towards a more digitalized commodity training, while adding that the partners expanded their Kratos platform to enable shipbrokers, operators and shipowners to arrange cross-border shipments in the same place where our commodity traders transact, secure financing and, with the logistics module, now manage their deliveries.
Concluding, the new logistics module upgrades Kratos by adding the aspect of global commodities business alongside the platform’s existing trading and finance modules.
