SBI Sumishin Net Bank Logo (CNW Group/DLT Labs Inc)
DLT Labs Inc Logo (CNW Group/DLT Labs Inc)
- Next generation, blockchain-centric supply chain financing partnership launched by SBI Sumishin Net Bank and DLT Labs in Japan
- Partnership to deliver first end-to-end supply chain financing network in Japan using DLT Labs' proven enterprise blockchain development platform
TORONTO, April 8, 2021 /PRNewswire/ -SBI Sumishin Net Bank, Ltd. (SSNB), Japan's No. 1 digital bank, and DLT Labs Japan Incorporated (DLT Labs), a wholly-owned subsidiary of DLT Global Inc., have entered into an agreement to jointly offer a blockchain-centric supply chain financing network across Japan, with wide application to industrial and banking partners, as well as directly to clients. The supply chain financing network will be powered by DLT Labs' award-winning blockchain development platform and will provide end-to-end supply chain financing that is seamlessly integrated with clients' supply chains.
DLT Labs' blockchain-centric network comprises the largest industrial-grade blockchain network in production to date globally and is the national standard for freight management and payments at Walmart Canada.
A select group of Tier 1 retailers and carriers in Japan have been invited to pilot the supply chain financing network starting in Q2 2021. Shortly thereafter, the network will be fully commercialized and made available across Japan. This digital transformation and process automation is anticipated to enable all network participants to experience the same significant competitive advantage obtained by other network users internationally, including new revenue streams from on-demand financial services and material operational savings for all participants.