InvoiceMate Performs First Private Credit Transaction On XDC Network Blockchain Using TradeFinex Open Source Web3 Standards

In a major milestone, InvoiceMate has wrapped up a successful pilot initiative, showcasing the seamless tokenisation of an invoice using the XDC blockchain protocol. The project harnessed the power of TradeFinex’s open-source smart contract standards.

In a groundbreaking transaction, InvoiceMate showcased the potential of obtaining liquidity by tokenising a Real World Asset (RWA). Acting as the loan originator, InvoiceMate secured funds for client H & H International LLC through the tokenisation of essential documentation including the invoice. This streamlined process resulted in a cash flow of $FXD 100,000 (FXD) for a 60-day period. $FXD is a fully decentralised stablecoin soft pegged to US Dollars and overcollateralised with the $XDC token using the Fathom Protocol and primarily focused on for RWA DeFi use cases. The success underscores the efficiency and innovation of blockchain-powered financing in traditional finance.

InvoiceMate successfully achieved the following milestones: 

Converted a paper-based invoice into an electronic invoice. 
Tokenisation and fractionalisation of the electronic invoice.
Capital provisioning against the fractionalised electronic invoice for a 60-day period using FXD stablecoin.

Participants in the pilot included:

InvoiceMate: Loan Originator & Tech Facilitator
H & H International LLC: Client
Eclipton: Institutional Digital Asset Custodian
TradeFinex : Open Source Smart Contracts Standard Reshaping the Trade Finance and Private Credit Landscape

Solutions used in the pilot:

TradeFinex: Resource for open source Smart Contract standards for RWA focused in Private Credit Solutions
Blockchain Network: XDC Network is an Enterprise-Grade, Open-Source Blockchain Protocol.
$FXD: Stablecoin soft pegged to USD and overcollateralised using the $XDC token
Eclipton: Institutional Digital Asset Wallet to customise as well as on/off ramp for stablecoin FXD to USD and vice versa. 

This pilot transaction is an important milestone in the partnership between TradeFinex and InvoiceMate, a FinTech with a platform focused on Invoice Financing.

Muhammad Salman Anjum, CEO of InvoiceMate said, “This successful transaction represents the first step in our collaboration with TradeFinex using XDC Network. We are actively exploring the XDC Network as the blockchain…