US-based fintech startup has rebranded as Hijro and announced the Hijro Trade Asset Marketplace-built blockchain technology. The rebranding also represents a shift in focus for the company, emphasizing its goal of becoming the connected network or global ‘waterway’ powering trade finance.
“The vast majority of the world’s prosperous cities are connected to waterways that have provided unrestricted access to goods, technology, and new ideas for thousands of years,” said Lamar Wilson, CEO. “I chose the name Hijro to be representative of the waterways that support global trade, connecting siloed, antiquated IT systems and financial services to reduce friction between banks, businesses, and non-bank lenders who join our network.”
At the core of the Hijro Network is the Trade Asset Marketplace, a robust multi-bank, multi-lender marketplace for trade assets. It leverages distributed ledger technology to drive security, automation, and efficiency in origination, distribution, tracking, settlement, and reconciliation of trade assets, with a focus on open-account trade. The Hijro Trade Asset Marketplace provides access to a global network of businesses, banks, and liquidity providers who power working capital solutions built on the Hijro Network.
The Hijro rebrand also includes a new website allowing businesses, banks, lenders, and trade platforms to request access to working capital solutions, to become a funder on the Trade Asset Marketplace, and to join the network as a partner.