Fintech company Hijro (formerly Fluent) has partnered with technology firm SAP Ariba, which will act as inventory provider of trade assets to Hijro’s blockchain-based network.
The partnership also opens Hijro’s Trade Finance Beta application to SAP’s suppliers in the US.
“A partnership with SAP Ariba means connectivity into one of the most powerful business networks in the world,” says Lamar Wilson, CEO of Hijro. “By connecting this network to the asset distribution network, the first suppliers will have access to working capital through the Hijro Beta. Hijro’s API [application program interface] will be utilised to tokenise and register digital versions of trade assets originated within the Ariba procurement platform.”
“Our platform will allow purchase and distribution of these assets by a network of funders,” he adds.
Applications and solutions built on the Hijro network include a multi-bank, multi-lender asset distribution network, flexible working capital solutions for businesses, and a suite of APIs allowing integrations to existing trade platforms and business networks.
Hijro is currently accepting more suppliers’ applications to sell trade assets to a network of funders through Trade Finance Beta.