Sweetbridge Alliance Network has added InstaSupply, a financing supply chain provicer for mid-sized businesses using blockchain, to its Network and named it an official reseller of Sweetbridge protocol technologies.
Sweetbridge says that through this collaboration their liquidity protocol will provide low-cost access to capital for the InstaSupply customer base of mid-sized (companies averaging roughly USD $30M to $2B annual revenue) buyers and suppliers located around the world. As a reseller of the Sweetbridge Liquidity Protocol, InstaSupply can instantly settle supplier invoices.
The InstaSupply service, which is said to currently serve thousands of businesses and settling tens of millions a year in transactions, can now call on Sweetbridge protocols to offer companies and their suppliers access to capital that is said to be superior to traditional banking resources for trade finance.
“Sweetbridge’s blockchain liquidity protocol enables us to offer the most competitive supply chain finance solution to SME businesses. This is a massive differentiator compared to traditional financial institutions and incumbent technologies, and is a game-changer for us and the suppliers we work with, stated Lee Pruitt, CEO of InstaSupply. “Over the course of the past few months, I got to know the team at Sweetbridge extremely well and we discovered clear synergies for our technologies. Based upon our shared vision for faster, fairer and more liquid supply chains, we felt it made perfect sense to work together and form an alliance of this kind.”
Scott Nelson, Chairman & founder of Sweetbridge, said that his company’s liquidity protocol was a logical fit for organisations looking to be paid instantly on better terms.
“We are looking forward to finding a better way for these supply chain SMEs to transact, and more importantly, for delivering a business model for the future”.
The two parties said they will leverage the complementary relationships of the Sweetbridge Alliance Network of leading blockchain technologies.
