January 31, 2022 - 3 min read
SupraOracles is excited to announce its partnership with Polytrade, a pioneer in bringing secure, insurance-backed real-world assets to the crypto realm. Polytrade is a decentralized blockchain technology that intends to change receivables finance and link buyers, sellers, insurers, and investors for a smoother trading experience. Polytrade fills the holes in traditional receivables financing by providing access to untapped crypto liquidity, where everyone benefits when they participate.
The most secure kind of trade financing is that in which open account trade invoices are insured and allocated to a platform for collection when they become due. Polytrade offers exporters with early liquidity and investors/lenders with a secure short-term liquid asset. Polytrade will connect credit providers and SMEs together on a single platform to facilitate effective receivable financing.
Polytrade introduces secure and insurance-backed real-world assets to the crypto world. It will provide real-world borrowers access to low-interest, quick funding from crypto lenders in order to free up essential business money. Polytrade fills holes in traditional receivables financing by gaining access to untapped crypto liquidity through off-balance-sheet lending. Polytrade will rate the strength of the companies’ invoices, etc., using data from rating agencies to determine risk and solvency. Polytrade requires data to evaluate the borrowing and KYC sides and offers 100% on-chain finance solutions, financing solutions for cryptocurrency startups (credit ratings will be one of the criteria), and specific transactions on the metaverse.
Polytrade is built on Polygon, but it is also considering expanding into Hecochain (owned by Huobi). SupraOracles and Polytrade may establish cross-chain bridges for play to earn NFTs as a result of this collaboration. SupraOracles will assist in bringing off-chain data (credit ratings, trading data, etc.) into the blockchain. They aim to provide funding solutions to crypto businesses and particular transactions on the metaverse, and they want to develop a whole campaign around it. This is where the public relations efforts should be directed.
Piyush Gupta, Founder of Polytrade, commented:
“SupraOracles supplies us with sophisticated Oracle toolkits that can help us obtain speedy funding from crypto lenders in order to free up essential operational money. Nothing thrills me more than cooperating with a project that will provide even more detail, accuracy, and transparency to crypto market data.”
Joshua D. Tobkin, CEO and Co-founder of SupraOracles, commented:
“Polytrade enables crypto investors to safely invest their crypto assets in real-world commercial use cases. We are excited to be working on a project that will create a borderless financial infrastructure that will allow crypto investors to access real-world assets.”
SupraOracles bridges the gap between traditional financial markets and the Web 3.0 world. Their goal is to empower the developer community by offering a robust cross-chain oracle. SupraOracles connects real-world data to public and private chains, empowering interoperable smart contracts that secure financial markets’ future. It also provides developers with a toolkit for developing, deploying, and managing data applications with greater performance, agility, and robustness.
Polytrade is a decentralized blockchain technology that intends to change receivables finance and link buyers, sellers, insurers, and investors for a seamless trading experience. Polytrade is also developing a metaverse product centered on metaverse trades and economies, which will be a fully on-chain digital native trade finance solution.
The worldwide DeFi industry is valued at trillions of dollars, with a considerable amount of total wealth locked in it every day. Polytrade will tap into the crypto world’s vast liquidity pool by tokenizing real-world invoices and moving them on-chain into the DeFi sector.
Polytrade provides crypto investors with tokenizing real-world invoices, a harnessing crypto liquidity pool, and safe insured investment choices.
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