Business
Kimura Capital Finances First Live Metals Shipments on the MineHub Platform
Vancouver, British Columbia--(Newsfile Corp. - November 30, 2021) - MineHub Technologies Inc....
About this update from Minehub Technologies, Inc.
[{"type":"text","content":"Kimura Capital Finances First Live Metals Shipments on the MineHub PlatformVancouver, British Columbia--(Newsfile Corp. - November 30, 2021) - MineHub Technologies Inc. (TSXV: MHUB) (OTCQB: MHUBF) (\"MineHub\" or the \"Company\") is pleased to announce that the MineHub Trade Finance application has been used by Kimura Capital and their client PY Commodities to finance three consecutive shipments of silver concentrate from Peru to China.Kimura Capital is a leading alternative financier for physical commodity markets, and provides working capital solutions to large corporates as well as medium-size traders that are active in trading metals, energy and agricultural commodities. Minehub and Kimura have a shared vision on the importance of digitalisation and blockchain technology for bringing efficiency, transparency and security to commodity trade finance. This vision has now been realised in the form of the first live use of the MineHub Trade Finance application.Kristofer Tremaine, Founder and CIO at Kimura said: \"Demand for trade finance solutions is increasing while many commodity banks are exiting the sector, and traders are busting their credit limits with the banks that are still there. More and more parties are looking for alternative sources of working capital from firms like ours to keep their business going. We have tremendous opportunities for growing our book but need to be smart about it. Digitalisation and blockchain-based transparency are of fundamental importance to our ability to grow our asset base faster than our headcount whilst reducing risk. Our partnership with MineHub delivers exactly on that strategy, and we have started the roll-out of the MineHub solution across our portfolio of borrowers and commodities over the next period.\" Arnoud Star Busmann, CEO at MineHub said: \"Working with Kimura Capital is a great example of our general approach to develop with industry for industry. The Kimura team has been instrumental in helping us develop, refine and validate our Trade Finance solution. PY Commodities is very much representative of the type of commodity trading houses we would like and expect to sign up to MineHub as we roll out the platform and the Trade Finance application to more corporates and liquidity providers.\"Henry Procter, Managing Director at PY Commodities said: \"We recognise the value of tec...