SYDNEY, AUSTRALIA: nChain, a leader in Web3 and enterprise blockchain technology and the developer of the BSV Protocol, will make a $11.1 million investment into TradeWindow.
The $11.1m investment will see nChain provide TradeWindow with:
• A cash payment of $2.4 million
• Software engineering resources from nChain’s 200-strong global engineering team to the value of $3.9 million
• Licensed technology and intellectual property to the value of $4.8 million
The $8.7 million in market-ready product and services will reduce ramp-up periods and mitigate execution risk for shareholders.
The deal would also see nChain become a distribution partner for TradeWindow on an exclusive basis for the United Kingdom and Scandinavia, leveraging nChain’s expertise in B2B software sales and an extensive network spanning exports, shipping, banking, and government. nChain would join TradeWindow’s existing sales agency network covering Southeast Asia and North America.
The partnership would also assist TradeWindow in gaining access to the United Kingdom, where digital trade is experiencing increased momentum.
Under the heads of agreement, nChain would have the right to be represented by one additional director to the board of TradeWindow.
TradeWindow CEO AJ Smith said: “This compelling partnership would provide TradeWindow with what it needs – additional funding, access to additional expert developers and already built product. The partnership would be complementary – building on TradeWindow’s existing strengths and significantly increasing what we would be able to deliver to our customers.”
“Through the partnership outlined in the heads of agreement, TradeWindow would access various components of cutting-edge technology, under numerous nChain patents that could immediately be utilised into our platform. Further, the availability of resources to TradeWindow would reduce the need for TradeWindow to build this technology thereby reducing cost and time to market.”
“The heads of agreement envisages a long-term partnership that brings both the funding and additional high-quality capability needed to accelerate TradeWindow’s global ambitions. Through new pools of resources, and leading web3 technology and speed, TradeWindow will be in an even stronger position to compete globally.”
“We have been observing the UK market and the timing is right with the backdrop of new free trade agreements and legislation change enabling the adoption of digital trade. Having a partner of nChain’s calibre would provide us with the confidence we can become a major player in this part of the world.”
nChain Group CEO, Christen-Ager Hanssen, said: “nChain is focused on powering software solutions that have maximum social impact. TradeWindow is joining us on our journey to a Web3 powered economy. They recognise the potential of our technology and are moving from Hyperledger to BSV.”
In addition, TradeWindow remains in discussions with other strategic investors and continues to explore alternative funding sources.
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