The turnover of the Factorin block-platform exceeded $1 billion

The Factorin trade finance platform has processed 1.4 million transactions and generated over $1.1 billion in turnover, the platform said.

Factorin is aimed at solving problems of document circulation, as well as confidentiality and data security.

Retail chains are connected to the platform, as well as 37 banks and factoring organizations and hundreds of companies-suppliers. Over 665,000 deliveries have been funded through Factorin since its inception.

The platform’s clients include Russian retailers Magnet and Dixy.

It should be reminded that the Dixy Group of Companies and GPB-Factoring LLC started testing a block-platform for the automation of factoring operations in 2018.

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