Marco Polo Network

About Marco Polo Network

Established in 2016 by a team of seasoned financial and technology professionals, including Robert Barnes and Alain B. Zemmour, TradeIX aimed to modernize the trade finance sector. The founders brought extensive experience from their time at organizations like SWIFT and financial institutions, recognizing the inefficiencies and paper-based nature of the industry. Their goal was to build a more connected and transparent trade finance ecosystem.

The company's core offering was the Marco Polo Network, a distributed platform built on Corda blockchain technology. This network was designed to facilitate secure and efficient trade and supply chain finance transactions. It connected financial institutions, their corporate clients, and B2B networks, enabling them to exchange trade data and assets in real-time. The platform provided applications for managing receivables finance, payables finance, and other trade finance instruments. By digitizing the entire process, from purchase order to payment, the network sought to reduce operational friction, mitigate risks, and improve working capital for all participants.

The business model centered on providing a platform-as-a-service to banks and their corporate customers. Financial institutions would use the network to offer enhanced trade finance solutions, while corporations could access financing and manage their supply chain more effectively. Despite its ambitious vision and technological underpinnings, the company encountered significant challenges. In 2022, TradeIX, the entity behind the Marco Polo Network, filed for administration in the UK after a major funding round fell through. Following this, the company's assets, including its technology, were acquired by a new entity called Kanexa, which appears to be continuing the mission under new leadership.