Mercore completes the UK’s first ‘digital Bill of Exchange’ transaction
Monday, February 20, 2023
Mercore, the global trade focused fintech group, today announced that it has executed a trade finance transaction utilising an electronic payment undertaking (ePU) structure (in digital bill of exchange format) working with one of its SME clients, Abercore, a UK based sugar trader and advisory firm. This pilot transaction by Mercore was for an amount of circa €118k and is the first in a series of ‘digital bills of exchange’ transactions with greater size and frequency. The underlying transaction involved the sourcing of sugar by Abercore from Pantaleon in Nicaragua for onward supply to a UK based food manufacturer.Click here to connect to the source of this storyClick here for more News and Views
As I browse the web researching various topics concerning the EU and UK sugar markets, I've been bookmarking interesting weblinks. Some of these are news clippings, some are links to official documents, and some are interesting data sources.