The global trade finance sector, historically reliant on paper-based practices, is facing growing inefficiencies in today's fast-paced, environmentally-conscious world. The demand for digitalization has become pressing, highlighted by the United Nations Commission on International Trade Law's introduction of the Model Law on Electronic Transferable Records in 2017. It aims to transition from paper-based to electronic trade documentation while maintaining legal validity and global recognition.
Yodaplus has launched DocuTrade, an innovative digital documentation solution aligned with MLETR principles. DocuTrade streamlines trade operations, ensuring that digital documents hold the same legal weight as paper ones. It provides a secure and efficient trade environment, allowing businesses to focus on growth.
Nilesh Pathak, BU Head of Blockchain at Yodaplus, emphasizes bridging tradition and the future in trade finance. Leading jurisdictions, including Bahrain, Singapore, and the Abu Dhabi Global Market, have embraced MLETR, with countries like the UK, Germany, and France following suit.
Yodaplus DocuTrade redefines trade finance for the modern era, prioritizing innovation, security, and efficiency. It serves as an essential asset for businesses, banks, and trade finance stakeholders worldwide.
Headquartered in Mumbai, Yodaplus is an esteemed IT service firm led by Vishrut Srivastava, specializing in digital transformation, trade finance digitization and AI. Their cutting-edge tech solutions reach clients globally.