TradeCard, the online payment and settlement platform that presents itself as a web-based alternative to conventional documentary credits, has announced further inroads in some of its target Asian markets.

Japanese opening

September is scheduled as the month in which TradeCard Japan K.K. will be officially open for business. The Tokyo-based joint venture formalises TradeCard's entry into the Japanese market where it will target corporates for business.

For its entry in the Japanese market TradeCard has secured the support of some high profile investors and joint venture partners, including Mitsubishi Corporation, Mitsui & Co, Ltd. and Warburg Pincus.

Financing first

TradeCard has also announced its first-ever domestic transaction for a US-based trader. The deal was also the first TradeCard transaction financed by a bank for a company outside its home country. Taiwan-based Bank SinoPac through its offices in Taipei and Los Angeles arranged financing for the US trader.

In another recently struck deal, Jardine Logistics have agreed to offer freight forwarding and physical supply chain services for shipments out of Hong Kong to TradeCard users.

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