Wed, 17 Jul 2019

Ireland-headquartered trade finance company eyes expansion

Conor Trindle
17 Mar 2019, 06:10 GMT+10

LONDON, UK - Yet another global tech company is expanding its headquarters in Dublin.

It was announced on Friday that trade finance technology platform generator TradeIX is expanding and will add seventy new jobs in areas such as engineering, sales, customer service and product development.

The Minister for Finance Paschal Donohoe made the announcement while on a visit to London. 

TradeIX is a growing, global company founded in 2016, by experts in trade finance, blockchain technology and enterprise software. The company says it 'challenges the status quo of today's siloed and manual-intensive trade finance solutions, by bringing innovation to banks and their corporate clients.' 

In 2017, TradeIX was selected as the technology platform for the Marco Polo Network, a joint undertaking by R3, TradeIX, and many of the world's foremost financial institutions including BNP Paribas, ING, Commerzbank, LBBW, Anglo-Gulf Trade Bank, NatWest, Natixis and SMBC.  

The company is supported by the Irish Government through IDA Ireland. 

"TradeIX is an award-winning, fast-growing technology platform provider and as such is a welcome addition to Ireland's growing FinTech community. This location decision underscores the attractiveness of Ireland for investment in highly-skilled, knowledge intensive areas of activity," Donohoe said Friday. 

"TradeIX established its global headquarters in Dublin with over 35% of its workforce based in the Irish capital," TradeIX Founder and CEO Robert Barnes said Friday.

"We are building the world's first distributed trade finance platform powered by Corda blockchain technology, and the Irish operation plays a pivotal role in developing and scaling the company's solutions", he said. 

Welcoming the announcement, Martin Shanahan, CEO IDA Ireland said "Ireland's global reputation as a blockchain centre of excellence, attracting international companies to make use of Ireland's well-developed technological and research sectors, is strengthened by TradeIX's decision to expand in Dublin." 

In addition to its headquarters in Dublin, TradeIX has offices in London, Kettering and Singapore, and operations in Germany and the U.S.

(Pictured left to right: Ian O'Hora, IDA Ireland, Richard Tynan TradeIX, Paschal Donohoe, Ireland's Minister for Finance).

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