Vayana Network begins operations of its ITFS platform VTX

Vayana TradeXchange, the International Trade Financing Services (ITFS) platform facilitating cross-border commerce finance beneath the supervision of the International Financial Services Centres Authority (IFSCA), GIFT City, introduced the completion and disbursement of its first set of export financing transactions. 

Vayana TradeXchange (VTX) is constructed and operated by Vayana (IFSC) Pvt. Ltd., a 100% subsidiary of Vayana Network, the biggest Supply Chain Finance platform in India. 

The first set of transactions on VTX have been financed by VoloFin, a world fintech firm providing bill and provide chain finance options to SME companies. 

The first cross-border transaction between an Indian Exporter and the USA Buyer was efficiently financed on VTX by VoloFin.

VTX, the auction-based digital platform, will facilitate the financing of worldwide commerce flows by introducing numerous commerce financing merchandise at aggressive phrases.

This will assist exporters and importers in India and throughout the globe to transform their receivables into money or acquire financing for funds of imports of items & companies. 

Through this platform, exporters and importers will acquire well timed entry to commerce finance seamlessly throughout geographies, opening avenues to new enterprise alternatives. The charges are found via a clear bidding mechanism, with funds out there within the forex of commerce.

VTX has already onboarded State Bank of India, Yes Bank, India Factoring, VoloFin and Drip Capital as financiers and is envisaging to onboard one other 10 financiers quickly. 

The platform is seeing rather a lot of early traction with greater than 10 exporters/importers at numerous levels of registration on the platform. Commenting on the success of the primary transaction on VTX, Ram Iyer, Founder and CEO of Vayana Network, mentioned, “We are delighted to commence the first transaction on Vayana TradeXchange, and bring to the market innovative solutions to facilitate cross-border trade finance.” 

Mr. Kalyan Basu, MD & CEO, Vayana TradeXchange, mentioned, “It gives us great pleasure to announce the successful initiation and completion of the first set of export financing transactions on the Vayana TradeXchange platform. We are glad to welcome the first participants and believe this marks the beginning of a pathbreaking journey in global trade. The platform is one of its kind implemented and operationalized across the globe. It has immense potential in terms of capability, innovation and reach to be the go-to platform for digitised cross-border trade finance in the days to come. We are aiming to do over USD 100 million worth of transactions in the first quarter of operation after successful completion of ‘sandbox’.” 

Mr. Mohit Agarwal, Co-founder & CEO, VoloFin, mentioned, “We look forward to a successful collaboration with VTX, this partnership will enable quick and easy access of finance to SMEs. With VoloFin’s next-gen platform and wider global coverage combined with VTX’s large network in India, we hope to benefit a large number of SMEs and help their business grow.” 

About Vayana TradeXchange: Vayana TradeXchange is a digital commerce finance platform that connects financiers, importers, and exporters from all around the world to make sure working capital is on the market seamlessly, at charges found via a clear bidding mechanism. 

It is owned and operated by Vayana (IFSC) Pvt. Ltd., a wholly-owned subsidiary of Vayana Network. Vayana is India’s largest commerce finance platform with over USD 12 billion in commerce flows to greater than 2,00,000 enterprises throughout 1000+ provide chains. 

With its proprietary expertise, Vayana has processed over 3 million transactions, with the community as we speak spanning 600 cities and 1450+ pin codes in India and extends to twenty international locations throughout the globe. Vayana can also be India’s largest GSP (GST Suvidha Provider), facilitating GST, E-Way invoice and E-invoicing for quite a few corporates and lakhs of SMEs.

Vayana TradeXchange is among the many new era International Trade Finance Services (ITFS) platform regulated by the rules issued by International Financial Services Centres Authority (IFSCA), GIFT City. Buyers, sellers and financiers can register with VTX by visiting.

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