HomeNewsroomNews Detail

MioTech Collaborates with BIS, Linklogis, Standard Chartered, and RD Technologies to Launch 'Project Dynamo' for Digital Trade Tokens in Trade Finance

MioTech Team2023-06-08

MioTech Linklogis BIS Innovation Hub

MioTech is pleased to announce its participation in 'Project Dynamo', a groundbreaking initiative that aims to revolutionize the trade finance industry and improve access to financing for small and medium-sized enterprises (SMEs). This collaborative project, led by the Bank of International Settlements Innovation Hub (BIS Innovation Hub), brings together industry leaders such as Linklogis, Standard Chartered, RD Technologies, and MioTech to develop and deploy a pioneering prototype platform leveraging Digital Trade Tokens (DTTs) for programmable payments.

MioTech's contribution is centered around its expertise in sustainable technology, providing comprehensive ESG assessments to all transactions on the platform. By integrating its advanced capabilities in risk management, trade, and carbon data analytics, MioTech ensures that sustainability is at the forefront of every transaction.

The successful trial of 'Project Dynamo', as highlighted in BIS’s recent report 'Catalysing Innovation for SME Growth', demonstrates an innovative and compliant application of decentralized financial technology in the trade finance industry, with a strong focus on ESG considerations. Through the utilization of blockchain and smart contract technology, the platform enables the creation of DTTs that incorporate ESG criteria into programmable payments. This ensures that sustainability and responsible business practices are embedded into decision-making as financing opportunities for SMEs expand.

With MioTech’s ESG and climate technologies coupled with a deep understanding of the global trade landscape, Jason Tu, Founder and CEO of MioTech, expressed his positive outlook, stating: "we are thrilled to be a part of 'Project Dynamo' where we can fuse sustainability and innovation with responsible finance practices. Technologies will play a crucial role in developing green solutions for SMEs and large corporates alike. The goal is to create a more resilient and environmentally conscious business ecosystem that leaves a lesser carbon footprint.”

This collaborative effort not only signifies a significant advancement in fostering responsible innovation within the financial sector but also serves as a valuable resource for central banks, policymakers, standards-setting organizations, and future-facing corporates.

MioTech is committed to driving technological empowerment and product innovation. By actively exploring the digital asset market, MioTech aims to create new avenues for funding and to expand financing opportunities for SMEs worldwide while championing ESG and contributing to a more sustainable and inclusive future.

About MioTech

MioTech uses artificial intelligence to solve the sustainability, climate change, carbon emissions reduction, and social responsibility challenges faced by financial institutions, corporations, governments and individuals. Its comprehensive coverage of ESG data helps financial institutions make the right decisions in green finance and responsible investments. Its software helps corporations manage ESG reporting, improve energy efficiency, track and reduce carbon emissions. Its app builds green-conscious communities and promotes low-carbon lifestyles among individuals.

Founded in Hong Kong, MioTech also has offices in Shanghai, Beijing, and Singapore. Its world-renowned investors include ZhenFund, Horizons Ventures, TOM Group, Moody's, HSBC, Guotai Junan International, GIC, and J.P. Morgan Asset Management.

Press inquiries: [email protected]

For more information, please visit https://www.miotech.com