Pelago Labs announced on March 25 that it has leveraged integration with Stellar to build a crypto-enabled supply chain finance platform. The solution symbolizes and fractionates the accounts receivable of certified buyers to create smaller, supplier-specific representations.
Vancouver-based Pelago Labs claimed that the integration with Stellar was aimed at developing a crypto-enabled supply chain finance platform that unlocks pre-entertainment liquidity for its suppliers. This solution allows suppliers to secure the working capital they need, supported by buyer credits, to improve cash flow efficiency.
According to Pelago Labs, suppliers can resolve funds accessed through USDC’s platform through Stellar’s platform through Polyflow’s liquidity pool-based payment channel. Funds can be settled in local currency through off-ramps via certified providers. Pelago’s supply chain finance platform also integrates on-chain KYC systems built with Polyflow and enterprise-grade wallets.
Pelago streamlines supply chain financing through great integration
The Pelago Labs team released a press release Tuesday, revealing that Pelago is leveraging Stellar’s smart contract platform to build a supply chain finance platform. These digital certificates allow suppliers to secure the working capital they need. Supported by buyer credit, ensuring seamless order fulfillment without direct contact with the ultimate buyer.
“The power of blockchain technology to transform the Future of Finance was fully exhibited on Pelago’s Crypto-enabled supply chain finance platform,” said Denelle Dixon, CEO and Executive Director of Stellar Development Foundation. She added that it will provide small and medium-sized businesses with access to unlocked economic opportunities for chain liquidity in chains that promote adoption. The Pelago team explained that suppliers will be able to resolve funds accessed from USDC’s platform through Stellar’s platform through Polyflow’s liquidity pool-based payment channel.
“This innovative solution demonstrates the practical utility of stellar networks and USDCs in promoting real-world working capital financing.
~Raymond QU, co-founder of PolyFlow
Raymond Qu added that smart Stellar’s contract Enabling the ability to efficiently scale and handle complex business models. These attributes have become tools for building smart contracts on Stellar and Pelago’s supply chain finance solutions.
Creditors deploy USDC credit facility of more than $1 million to Pelago SCF
Last month, suppliers of two Perago supply chain finance platforms were successfully completed It’s secured A $1,000,000 USDC on-chain loan from Stellar Network creditor Trusta Labs, powered by Polyflow’s PAYFI protocol. The Pelago team has acknowledged that Pelago SCF will directly help two suppliers overcome cash flow issues by providing access to working capital. These suppliers utilized on-chain credit to secure funds prior to buyer payments, making sure operations were not stopped and financial flows remained stable.
The Pelago Labs team also revealed that they are committed to transforming supply chain finance by providing crypto-assisted loans to real-world businesses. Through Pelago SCF, creditors can deploy digital assets to support small and medium-sized businesses (small and medium-sized businesses), while suppliers can use their funds without traditional banking barriers.
The Pelago Labs team also said Stellar’s Pelago SCF platform will provide suppliers with equal access to the global financial system at a low cost. A great network allows digital assets to be traded while integrating with traditional economies.
