Arqit Quantum Inc. (Nasdaq: ARQQ, ARQQW) (Arqit), and Vayana
TradeXchange announce a partnership to use Arqit’s TradeSecure™
digital negotiable instrument technology to transform international
supply chains.
Vayana TradeXchange is a global marketplace
facilitating the financing of cross-border trade, headquartered in
GIFT City and operating under license from the International
Financial Services Authority in India (IFSCA). It is part of the
Vayana Group which operates India’s largest regulated network for
domestic supply chain finance.
The initial focus for the partnership will be
India, Singapore, the United Arab Emirates (UAE) and the United
Kingdom (UK), nations that are global leaders in the digitalisation
of trade. These countries have embraced legislation based on the
UN’s Model Law on Electronic Transferable Records (MLETR) that
gives legal recognition to digital negotiable instruments (DNIs)
allowing them to replace wet ink paper contracts.
The global supply chain finance market is
estimated at $17 trillion growing at 3% per annum and stands to be
re-energised by the reform in legalising digital assets.
Vayana Group has facilitated over $30bn of
financing, serving over 300,000 enterprises in India. Vayana
TradeXchange revolutionises cross-border trade finance by making
working capital available seamlessly across geographies.
Arqit's first-of-its-kind technology delivers
unique, referenceable and transferable digital finance instruments
that have broad commercial application and enable businesses to get
closer to pools of available liquidity and improve their cash
flows. Arqit is a world leader in complying with the new standards,
by completed legal review, and in making them provably secure.
This partnership enables exporters to use DNIs
to get easy access to working capital against their trade
receivables, whilst importers can optimise their cashflows by
accessing funding from financial institutions across the globe.
Kalyan Basu, MD & CEO, Vayana
TradeXchange said:
“We are delighted to partner with Arqit to help
companies unlock their working capital using these highly secure
digital negotiable instruments. With export trade from India alone
expected to reach $2 trillion by 2030, this partnership offers
businesses easier access to investors/financiers who are willing to
lend against receivables based on the negotiation of digital
promissory notes and bills of exchange minted on TradeSecure. DNIs
will offer immense flexibility to the asset owners in terms of
access to a large pool of credible investors with a secure
end-to-end digital journey.”
David Williams, Founder of Arqit said:
“The market for digital negotiable instruments
is expected to exceed $4 trillion per annum. This partnership is a
fusion of India’s leading cross-border supply chain finance
platform with Arqit’s groundbreaking TradeSecure which is the only
DNI solution that complies with the new laws and delivers permanent
provable security. We are excited to take this collaboration to a
high scale with Vayana TradeXchange.”
Lord Marland, Chairman of the
Commonwealth Enterprise and Investment Council said:
“The UK government has led the World in
legislating to digitise trade finance. India is a crucial trading
partner and I am delighted to see British and Indian companies
leading the world as a result.“
About Arqit
Arqit Quantum Inc. (Nasdaq: ARQQ, ARQQW) (Arqit)
supplies a unique encryption software service which makes the
communications links of any networked device, cloud machine or data
at rest secure against both current and future forms of attack on
encryption – even from a quantum computer. Compatible with NSA CSfC
Components and meeting the demands of NSA CSfC Symmetric Key
Management Requirements Annexe 1.2. and RFC 8784, Arqit’s Symmetric
Key Agreement Platform uses a lightweight software agent that
allows end point devices to create encryption keys locally in
partnership with any number of other devices. The keys are
computationally secure and facilitate Zero Trust Network Access. It
can create limitless volumes of keys with any group size and
refresh rate and can regulate the secure entrance and exit of a
device in a group. The agent is lightweight and will thus run on
the smallest of end point devices. The product sits within a
growing portfolio of granted patents. It also works in a standards
compliant manner which does not oblige customers to make a
disruptive rip and replace of their technology. Arqit is winner of
two GSMA Global Mobile Awards, The Best Mobile Security Solution
and The CTO Choice Award for Outstanding Mobile Technology, at
Mobile World Congress 2024, recognised for groundbreaking
innovation at the 2023 Institution of Engineering and Technology
Awards and winner of the National Cyber Awards’ Innovation in Cyber
Award and the Cyber Security Awards’ Cyber Security Software
Company of the Year Award. Arqit is ISO 27001 Standard certified.
www.arqit.uk
About Arqit TradeSecure™
Arqit TradeSecure™ enables the creation,
safekeeping and secure transfer of Digital Negotiable Instruments
(DNIs). DNIs are a globally recognised paper trade finance
instruments: e.g. Promissory Notes & Bills of Exchange. As a
result of recent legislation DNIs now have the same legal standing
as paper instruments and will be an integral part of 21st century
corporate working capital solutions including supply chain and
invoice finance.
TradeSecure improves business performance for
everybody in the supply chain by:
-
Freeing up working capital for Buyers to pass on to their
Suppliers,
-
Allowing businesses to improve cash flow,
-
Driving down costs across the entire supply chain,
-
Generating a direct bottom line contribution for Buyers,
-
Providing end to end data transparency and a full transaction audit
trail,
-
Making it easier for a range of Investors to provide much needed
working capital finance,
-
Increasing security and reducing operational risk.
Arqit’s quantum-safe encryption technology
provides a robust security solution, which harnesses our
military-grade data encryption expertise. Secured by symmetric
digital keys and notarised on a quantum-secure ledger, DNIs can be
created, transferred and stored in a fully auditable and secure
manner throughout their lifecycle. tradesecure.arqit.uk
About Vayana TradeXchange
Vayana TradeXchange is a leading global cross
border trade finance platform that operates under license from
International Financial Services Centres Authority (IFSCA), GIFT
City, India’s first global financial center. As a wholly owned
subsidiary of Vayana, India's largest supply chain finance fintech,
VTX provides an auction-based marketplace connecting exporters and
importers, enabling access to cross-border trade finance products.
VTX's solutions help businesses effectively manage trade
receivables and payables, enhancing cash flow management for
businesses on a global scale. The platform has successfully
onboarded prominent financial institutions such as the State Bank
of India, India Factoring, VoloFin, and Drip Capital as financiers.
Additionally, VTX is actively engaged in expanding its financier
network and aims to onboard an additional 15 financiers by the end
of FY 2024.
Media relations
enquiries:Arqit: pr@arqit.uk
Vayana: hitesh@vayana.comWebsite:
https://vayanatradexchange.com/
Investor relations
enquiries:Arqit:
investorrelations@arqit.ukGateway:
arqit@gateway-grp.com
Caution About Forward-Looking Statements
This communication includes forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. All statements, other than statements of
historical facts, may be forward-looking statements. These
forward-looking statements are based on Arqit’s expectations and
beliefs concerning future events and involve risks and
uncertainties that may cause actual results to differ materially
from current expectations. These factors are difficult to predict
accurately and may be beyond Arqit’s control. Forward-looking
statements in this communication or elsewhere speak only as of the
date made. New uncertainties and risks arise from time to time, and
it is impossible for Arqit to predict these events or how they may
affect it. Except as required by law, Arqit does not have any duty
to, and does not intend to, update or revise the forward-looking
statements in this communication or elsewhere after the date this
communication is issued. In light of these risks and uncertainties,
investors should keep in mind that results, events or developments
discussed in any forward-looking statement made in this
communication may not occur. Uncertainties and risk factors that
could affect Arqit’s future performance and cause results to differ
from the forward-looking statements in this release include, but
are not limited to: (i) the outcome of any legal proceedings that
may be instituted against the Arqit, (ii) the ability to maintain
the listing of Arqit’s securities on a national securities
exchange, (iii) changes in the competitive and regulated industries
in which Arqit operates, variations in operating performance across
competitors and changes in laws and regulations affecting Arqit’s
business, (iv) the ability to implement business plans, forecasts,
and other expectations, and identify and realise additional
opportunities, (v) the potential inability of Arqit to successfully
deliver its operational technology, (vi) the risk of interruption
or failure of Arqit’s information technology and communications
system, (vii) the enforceability of Arqit’s intellectual property,
and (viii) other risks and uncertainties set forth in the sections
entitled “Risk Factors” and “Cautionary Note Regarding
Forward-Looking Statements” in Arqit’s annual report on Form 20-F
(the “Form 20-F”), filed with the U.S. Securities and Exchange
Commission (the “SEC”) on 21 November 2023 and in subsequent
filings with the SEC. While the list of factors discussed above and
in the Form 20-F and other SEC filings are considered
representative, no such list should be considered to be a complete
statement of all potential risks and uncertainties. Unlisted
factors may present significant additional obstacles to the
realisation of forward-looking statements.
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