Vancouver, B.C., May 24, 2022. MineHub Technologies Inc. (TSXV: MHUB, OTCQB: MHUBF) (“MineHub” or the “Company”) and TradeGo Pte Ltd (“TradeGo”) are pleased to announce they have recently entered into a strategic cooperation agreement. The collaboration will focus on the application of blockchain technology in international bulk commodity chains, including cross-platform integration, business model exploration and alignment and developing new use cases for cross border trade with China.
TradeGo is China’s leading blockchain-based commodity trading platform, and is owned by corporations like Petrochina, Sinochem, Macquarie, Bank of China, COSCO and Saudi Aramco. The platform provides efficient, safe and reliable solutions for digital trade finance, like electronic bills of lading and warehouse receipts for clients in commodity supply chains across the sectors of energy, chemistry and metals within China.
Arnoud Star Busmann, CEO at MineHub Technologies said “I am very pleased with this collaboration with TradeGo, after being connected to the team since early 2020. We have a shared mission with strong synergy opportunities for our users in providing digital highways for trade in and out of China. Blockchain is enabling technology for cross-border supply chain digitalisation and TradeGo is one of the most advanced Chinese companies in that field.”
The TradeGo and MineHub platforms combined, as the leading blockchain trade service platforms in their respective regions, will provide users of both parties with richer usage scenarios and a smoother user experience. By connecting the platforms, MineHub users get access to digital trade solutions from Chinese logistics and trade finance service providers connected to TradeGo. Vice versa, TradeGo service providers can connect their digital trade services to cross-border trade flows orchestrated on MineHub. Through this cooperation, each platform can provide more value through digital transformation to a larger ecosystem.
Jason Yu, CEO of TradeGo said “I believe that our cooperation will enable us to better serve our clients in Asia for commodity trade, especially for iron ore trade. For privacy protection, we provide secure data storage resolution to our clients, using similar underlying technology for both platforms.”
In the international trade of bulk commodities, the supply chain is long and there are many participants. This inter-regional platform cooperation will help the development of the digital industry ecosystem, expand the offering of both parties, and more effectively serve the intercompany collaboration of enterprise users in the cross-border trade with China.
MineHub is an open, enterprise-grade platform for digital trade, bringing efficiency, security and responsibility to mining and metals supply chains. MineHub connects the many parties involved in a physical commodity transaction in a digitally integrated workflow, operating on the basis of shared information secured by a global enterprise blockchain network. Users of MineHub are in full control of their supply chains, enabling them to optimize their use of resources, respond better and faster to customer needs and have confidence in the resilience, security and compliance of their operations.
TradeGo is jointly set up by Sinochem Energy, PetroChina International, Macquarie CGM, COSCO Shipping Energy, Bank of China, Saudi Aramco Energy Ventures, China Construction Bank, China Merchants Energy Shipping, Mitsui and Wanxiang Blockchain. This commodity blockchain alliance builds a digital service platform for international trade in commodities based on blockchain technology to help customers in energy, chemical, metal and other commodity industries expand and innovate their businesses, and gradually recreate an industrial value ecosystem.
Arnoud Star Busmann
CEO, MineHub Technologies Inc.
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