Become a client

Jan 28, 2021 | News Releases

AXIchain partners with Western Union Business Solutions to streamline international payments

Technology company AXIchain has released an upgrade to its international commodity trading platform with a complementing strategic partnership with Western Union Business Solutions to underpin the financial integrity of its end-to-end digital supply chain. The new streamlined upgrade enables Australian producers to access international markets like never before.

AXIchain creates opportunities for direct product sales into international markets from your personal device by accessing buyers and sellers via a trusted application, encompassing digital traceability systems.  ‘Part of our mission is to support SMEs and regional Australia’said AXIchain CEO, Linda Woodford.

Incorporating remittance and payment options, AXIchain connects logistic solutions and is underpinned by a blockchain distributed ledger to track provenance and transactional data smart contract and authenticated data.

‘As part of our ongoing development, we’ve partnered with Western Union Business Solutions, a trusted partner in financial risk management and international payments to create the AXIpay payment infrastructure providing an “escrow” style remittance process linked to the AXIchain smart contract’, said Ms Woodford.

AXIchain’s payment solution - AXIpay - leverages Western Union’s leading global network and banking infrastructure enabling a seamless experience in the AXIchain system for buyers and sellers of Agricultural products.

The agri-business team at Western Union Business Solutions and AXIchain, support the Australian National Farmers Federation (NFF) plan to increase farmgate production to over $100bn by 2030.  This vision starts with enabling equal access to financial services for all business across the agri-supply chain. Partnering with AXIchain creates a platform that supports sustainable growth for those Australian businesses engaging in the agriculture supply chain.

‘AXIchain’s philosophy is aligned with Western Union Business Solutions, enabling international trade and helping global businesses be competitive is at the heart of what we do.  Our aim is to champion the industries and opportunities fuelling economic growth and recovery, and through our partnership with AXIchain, we are committed to our ongoing support to the Australian Agricultural Industry.  This comes at a time when a tidal wave of digital innovation is set to drive sustainable growth as distance becomes less relevant for trade in Australia’s second-largest employment industry.  We see the role of digital services as a key differentiator in post-pandemic recovery, and we are excited about the role this partnership can play in the Agri-business sector here in Australia’, said Sam Fitzpatrick, Head of APAC Global Payments.

‘We’re providing the Australian agricultural industry with an end-to-end digital supply chain to help maintain global competitiveness. Our mission is to make international trade safe and efficient and ensure Australia retains its excellent reputation as an export nation - providing safe, clean and natural food products in a rapidly changing trading environment’, concluded Ms Woodford.

For more information on the AXIchain end to end digital supply chain for commodity trading, please visit https://www.axichain.io/