10.9 C
London
Monday, April 15, 2024
HomeBankingFintech start-up Xalts grants Contour Network new lease of life with announced...

Fintech start-up Xalts grants Contour Network new lease of life with announced acquisition

Date:

  • Singapore-based startup Xalts is set to acquire Contour Network, which has operated a decentralized global trade finance network connecting businesses, partners, and financiers across supply chains.
  • Contour, backed by banks like ANZ, BNP Paribas, HSBC, and Standard Chartered, had announced it would wind down operations due to insufficient funding.
  • Xalts, founded in 2022, plans to leverage Contour’s assets to accelerate digitization in trade and supply chain finance.
  • The startup aims to create embedded solutions for trade and supply chain finance and build a platform that enables businesses to access digital solutions offered by banks, fintechs, and technology partners.

Related stories

ICYMI fintech funding round-up: Mimo, TransferGo, Smartpay, Adro and more

Mimo:Raised £15.5 million led by Northzone. Plans...

Pomelo Group names Steve Vickers as new CEO

New CEO Appointment:Pomelo Group, a payment infrastructure...

Former PayPal chief Dan Schulman joins Valor Capital as managing partner

New Appointment:Dan Schulman, former president and CEO...

Missouri’s Central Bank taps Personetics for AI-powered money management solution

Partnership Overview:Central Bank, headquartered in Missouri, USA,...

Bolt appoints interim CEO as Maju Kuruvilla departs

Leadership Change at Bolt:Maju Kuruvilla, who served...

Subscribe

- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from up to 5 devices at once

Latest stories

spot_img