- 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.
