Parties and digital identity

Voy Finance provides a comprehensive solution that covers the entire trade finance ecosystem, enabling seamless transactions between various parties. The platform offers provisions to onboard the following key stakeholders.

To establish a secure and trustworthy environment within the Voy Finance trade finance ecosystem, each participating party is required to create their unique digital identity which is stored on blockchain.

Digital identity in trade finance enables seamless identification and authentication of participants during trade transactions, mitigating the risk of fraud and unauthorized access. By implementing strong digital identity protocols, Voy Finance strengthens the integrity of the ecosystem, enabling parties to confidently engage in trade activities while maintaining data privacy and security.

Voy Finance facilitates the onboarding of buyers and sellers who have undergone the Know Your Customer (KYC) process conducted by partnering banks. In the case of buyers seeking lending services, they approach the bank for financing options. For SMEs, banks redirect trade applications to Voy Finance, which leverages a DeFi platform to provide lending solutions. The onboarding of buyers and sellers is a collaborative effort between the banks and Voy Finance, wherein the banks provide the KYC details of the applicants. This collaboration ensures the creation of digital identities for all parties involved, enabling secure and trusted trade transactions within the Voy Finance ecosystem.

Financial Services Providers(FSP)

Voy Finance offers integration with financial institutions such as banks and alternative lenders. These institutions can participate in the trade finance ecosystem by providing financing options, issuing letters of credit, and facilitating secure payment settlements. Voy Finance also provides option for the FSP to participate in the Liquidity pool and stake tokens providing them additional rewards.

ESG scoring agencies or trusted validators, as parties onboarded to the Voy system, assess the trade based on these criteria and assign a score that is subsequently recorded on the blockchain.

Voy Finance facilitates the inclusion of logistics companies that play a crucial role in the movement and transportation of goods. These providers can offer their services, track shipments, and collaborate with other stakeholders to ensure smooth trade operations. Voy Finance onboards eBL validators to ensure the authenticity of the bill of ladding.

Regulators and Compliance Authorities

The platform accommodates the participation of regulatory bodies and compliance authorities. They can monitor trade activities, enforce regulatory requirements, and ensure adherence to compliance standards within the trade finance ecosystem.