Transatlantic Shipment of Metals Financed via FQX eNote

Published 

Zurich – FQX announces another set of successful transactions via eNote, or electronic promissory note. The eNotes with a total value of more than USD 500’000 were used by a Swiss commodity trader to finance a transatlantic metal shipment. The transaction was facilitated using sensor and tracking devices by the Swiss supply chain management service provider ARVIEM.

  • Every eNote is securely registered on the Swiss Trust Chain by Swisscom and Swiss Post and signed with qualified electronic signatures
  • Financing trade with eNotes has the potential to ease the pressure on the increasing global trade finance gap of over USD 2 trillion
  • The eNote, using an ISIN, provides attractive and easily transferable investment opportunities to investors

Complex traditional financing processes often hinder companies in their growth. These barriers contribute to a global trade finance gap of over $2 trillion. Electronic promissory notes offer a remedy. Promissory notes are a widespread traditional financial instrument that enable companies and individuals to obtain finance on the basis of an unconditional promise to pay. In electronic form, as eNotes, they offer unprecedented flexibility and efficiency in trade and corporate finance. By storing the eNote on the Swiss Trust Chain of Swisscom and Swiss Post, transactions are fully digital and fraud risk is minimised. Liquidity flows directly to the companies that need financing without the need to involve other intermediaries.

FQX announces two further successful financings via eNote for a total of more than USD 500’000. The two electronic promissory notes were used to finance transatlantic metal shipments by a Swiss commodity trader. A private investment firm financed the transaction and generated an attractive return. No bank was involved in the financing of this transaction. “Electronic promissory notes make liquidity available where it is needed for businesses, while also offering attractive investment opportunities for financial institutions,” says Frank Wendt, FQX Chief Executive Officer. “Each eNote issued via FQX is assigned an ISIN number, making it easily transferable to other investors,” he added.

Each eNote is stored and recorded on the Swiss Trust Chain, a banking-grade DLT-system maintained by Swisscom and the Swiss Post. The integrated qualified electronic signatures used to securely issue and transfer the eNotes on the FQX platform are provided by Swisscom Trust Services.

Roland Cortivo, Head of DLT Infrastructure at Swisscom, comments: “Innovation and trust are at the heart of Swisscom. We are proud to support FQX with our leading electronic signature and DLT infrastructure to support the issuance and transfer of an eNote. This transatlantic delivery versus payment proves why blockchain technology is the key to fully digital business processes.”

The transaction was furthermore facilitated using an ARVIEM tracking and sensor device, allowing for a track and trace functionality which serves to reduce transaction risk. Arviem’s technology provided real-time information to all parties involved in the transaction on the location of the goods also reporting on door openings, intrusions, temperature, container damage and shocks.

“At Arviem we believe in the digitisation of the complete supply chain from eBills of Lading to electronic delivery notes. Our IoT enabled technology serves as the layer between physical cargo and the digital environment of DLT technology connecting specific cargo to financial transactions from container doors closing to doors opening. This provides assurances to allow all the parties in the supply chain to grow their business with confidence” – says Stefan Reidy, CEO of Arviem.

Most recent episodes

£15 Billion Stimulus Pumped into UK Economy to Ward Off Recession Fears

Welcome to the latest edition of Liquidity Link Live, your exclusive market analysis provided by Northern Trust Asset Management, one of the world’s largest cash managers. Tune in each month to discover the very latest insights on the UK, Eurozone and US markets. This edition was recorded on the 7th June...

04:44

Advantage Treasury

Eleanor Hill is joined in the virtual TreasuryCast studio by Nicolas Cailly and Philippe Penichou (Societe Generale) to look at treasury trend predictions for the remainder of 2022, with a particular focus on virtual accounts. In this deep dive into current and future treasury priorities, our guests...

24:22

40th Annual New York Cash Exchange: What Can Treasurers Expect?

Ahead of the 40th annual New York Cash Exchange, two of TMANY's distinguished board members, David Miller and Timothy T. Hesler, CTP, provide TMI CEO, Robin Page, with a quickfire rundown of what attendees can expect from this year’s conference. Our guests share their aspirations for the event, explain...

09:58

Expectation-Beating Inflation Prints Ratchet Up Pressure on Monetary Policy

Welcome to the third edition of Liquidity Link Live, your exclusive market analysis provided by Northern Trust Asset Management, one of the world’s largest cash managers. Tune in each month to discover the very latest insights on the UK, Eurozone and US markets. This edition was recorded on the 9th May...

04:48

Making the Sustainable Transition: A Roadmap to ESG in Treasury

Over the last 18 months, Societe Generale has experienced a steady increase in requests from their corporate clients to integrate ESG features in treasury management.  Louis-David Rouyer, Philippe Pougeard, and Emmanuelle Petelle (Societe Generale) provide TMI's Eleanor Hill with a whistlestop run...

22:24

Lift Off for Fed Rate Rises

Welcome to the latest edition of Liquidity Link Live, your exclusive market analysis provided by Northern Trust Asset Management, one of the world’s largest cash managers. Tune in each month to discover the very latest insights on the UK, Eurozone and US markets. This edition was recorded on the 5th of...

04:58

Treasury in 2022 and Beyond

Industry experts Bob Stark (Kyriba) and Sebastian di Paola (PwC) join TMI's Editor, Eleanor Hill, to explore the very latest treasury trends - and to discuss how smart treasurers can get ahead of th...

43:21

How BearingPoint Harnessed Data-Driven Forecasting with CashAnalytics and SAP

Listen back to our recent forecasting masterclass, where Group Treasurer Eveline Stam, and Conor Deegan (CashAnalytics) provided TMI's Eleanor Hill with a comprehensive overview of how consultancy firm BearingPoint achieved company-wide cash forecasting nirvana by combining specialist solutions from...

37:14

The 3 T’s of The Future: Tech, Treasury, and Transformation

Over the past two years, an increasingly dynamic environment has not only accelerated technology development – from quantum computing to blockchain technology, and even the metaverse – but also technology adoption, bridging colleagues and breaking down silos in a remote work world. In this podcast,...

44:02

Monetary Policy Continues to Drive Markets as Ukraine Invasion Weighs on March Meetings

Welcome to the second edition of Liquidity Link Live, your exclusive market analysis provided by Northern Trust Asset Management, one of the world’s largest cash managers. Tune in each month to discover the very latest insights on the UK, Eurozone and US markets. This edition was recorded on the 3rd of...

05:25