- London based Infinity Maritime partners with institutional grade provider and market leader VALK .
- Builds the first platform on R3’s Corda to provide alternative finance on marine assets through digitization.
- The platform focuses on creating a sustainable fleet via the purchase and upgrade of modern vessels.
Infinity Maritime enthusiastically accepts the marine ecosystem by digitizing environmentally friendly vessels and enabling trading on a banking grade marketplace solution, powered by VALK, built on R3’s Corda, Finextra reports.
Creation of sustainable finance
Infinity by enabling fractional ownership of cargo ships, such as dry bulk carriers, tankers and container ships, will be the first platform to provide alternative finance. The platform aims at creating secondary markets for investors by fully regulated exchange of tradeable asset- backed Meta units.
By being the first ever alternative finance provider on marine assets build on Corda, it reinforces its position in the industry as the leading institutional digital platform for shipping assets.
Insights on Corda
Corda is developed on R3 an enterprise grade blockchain platform, who leads the largest blockchain ecosystem of more than 350 participants, including more than 40 global investment banks.
It offers a digital, fully automated, concentrated on one single, secure and easy to use platform giving Infinity its own primary and secondary private marketplace and access to a wide ecosystem of exchanges and banks.
“We are delighted to work with Infinity in creating the first institutional and banking grade Ship Financing platform. Infinity have strong roots and experience in finance and shipping but a vision and a plan that is bringing tangible and revolutionary financing and trading solutions for the industry. By powering several top-class financial institutions in Europe and supporting hundreds of millions of transactions already, we want to bring our technology experience and support to Infinity and enable them to achieve their objectives. There are already many opportunities that we want to help them take advantage of by connecting with Corda’s vibrant user base and exchanges we are close to. Infinity are innovators and pioneers and they will shape industry trends and establish new standards of deal making and fundraising in shipping and probably other asset classes down the line and we are here to give them ” state VALK founders Antoine Loth and Elie Azzi.
Andrew Graham, Chairman, Infinity Maritime said, “Now is the right time to try and launch the first digitised finance proposition for the maritime industry. The concept is now much better understood, and access to finance in the maritime sector has become much harder to secure. In recent years the sector has seen a dramatic reduction in the number of banks offering ship finance, prompting a real need for a new financing approach. We believe a sustainable focus is now an imperative for the sector to thrive and Infinity can help deliver this with Meta Unit financed fleets.”
VALK’s solution aims at providing Infinity clients and investors with a better and secure user experience that only digital banks or slick e-trading platforms have today while allowing for fractional asset ownership, enabling a secondary market for previously illiquid holdings.
Did you subscribe for our daily newsletter?
It’s Free! Click here to Subscribe!
Source: Finextra News
