Emirates NBD, the largest bank in Dubai, has made an equity investment in Geneva-based trade finance and treasury network Komgo.
Emirates NBD’s Innovation Fund, the Bank’s corporate venture fund, made the strategic equity investment. The fund, which was established earlier this year, aims to bring together the regional know-how and agility of fintech firms with the digital ambitions and technological innovations of the Bank.
komgo is a JP Morgan’s Quorum-based network and Blockchain-based platform for trade financing. The company currently states that it has 10,000 enterprise users worldwide and processes daily transactions worth USD 1 billion.