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Polytrade launches blockchain platform for MSMEs

February 01, 2022

Polytrade launches blockchain platform for MSMEs

Polytrade finance on Monday announced the launch of its fully functional blockchain platform ‘Mainnet’ to give working capital to small and medium enterprises (SMEs) in reality using crypto liquidity.

The launch of Polytrade Mainnet is a huge advance as it would bridle tremendous liquidity in the crypto world to directly uphold private companies across the globe, making a certifiable use of the cryptocurrency, the decentralized finance (DeFi) stage said in a release.

Referring to industry information, it said the neglected requests of turning out capital for SMEs in India adjust to more than ₹2,200 crores.

The launch of Polytrade Mainnet has opened up a valuable wellspring of financing for these SMEs by making a blockchain-based decentralized protocol, Polytrade said.

“Since the beginning of its tasks, Polytrade has effectively figured out how to back over ₹3,700 crores worth of solicitations starting around 2014 and the launch of Mainnet will further spur the availability of accounts to the SMEs,” it said.

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