SINGAPORE, Nov 10 (Bernama-BUSINESS WIRE) -- ChainTrade, the Blockchain-based commodities exchange is turning its attention to institutional and crypto investors having closed the initial, public phase of its ICO.

With the US $2 trillion commodities markets in its sights, ChainTrade is looking to institutions for the lion’s share of its funding and now, following a successful public ICO, is entering talks with institutional crypto investors.

Designed to disrupt existing commodities markets, Chaintrade is the world’s first decentralized and fully accessible exchange for commodities and derivatives trading.

Designed to be trusted

“The commodities markets are made up of established exchanges that enable traders to buy and sell food and raw materials. ChainTrade is a powerful tool that not only makes commodities trading more efficient but which will democratize the markets by making them accessible to everyone,” said Vincent Jacques, CEO of ChainTrade.

“The more inclusive a market is, the more efficiently it’s able to operate. We’re deploying Blockchain technology specifically because it can shake up the commodities market by delivering greater efficiencies. This is because the ChainTrade model is built with trust at its core and so removes the need for costly middlemen.

“Our funding model places the emphasis on institutional crypto investors, including VCs and banks with an interest in Crypto such as Citibank, because many of them already take part in commodities trading and so understand the ways in which we can disrupt the current model.

“To date, we’ve been greatly encouraged in our discussions with institutional investors who clearly see the potential for ChainTrade to transform the commodities markets and usher in a new era of open-access, highly efficient and fully transparent trading.

“I work with a fantastically talented team and am pleased to say that we’re on target to reach the $10 million investment that will help us bring ChainTrade to market, starting with our beta launch in March next year.”

The team behind ChainTrade have already tasted success with the launch of ground-breaking technologies, having created Planorama, an AI startup that has brought image recognition to the retail sector and counts some of the world’s largest companies among its clients.