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Tradeshift Offers to Support the Frozen Supply Chain Finances in Denmark
Summary: Tradeshift proposes a solution to immediately unfreeze financial flows in the supply chain to the Danish government. The strike of the COVID-19 pandemic has caused many companies to postpone payments and store cash, which freezes supply chain finances and jeopardizes the survival of small and medium-sized enterprises.
Tradeshift proposes a solution to immediately unfreeze financial flows in the supply chain to the Danish government. The strike of the COVID-19 pandemic has caused many companies to postpone payments and store cash, which freezes supply chain finances and jeopardizes the survival of small and medium-sized enterprises.
Tradeshift offers to provide 385 billion DKK ($55 billion) worth of additional credit lines to 250 of the biggest exporters in Denmark to motivate them to pay their suppliers promptly, per CoinDesk. The company is asking for 1.5 billion DKK ($217 million) from the government of Denmark to compensate for the cost of interest.
Tradeshift is a cloud-based B2B business network for supply chain payments. The company moved its headquarters from Copenhagen, Denmark, to San Francisco in 2012.
By Yiran Dai
Tags: Denmark,supply chain,Tradeshift
Link: Tradeshift Offers to Support the Frozen Supply Chain Finances in Denmark [Copy]
