Mercore executes UK’s first ‘digital Bill of Exchange’ transaction

Mercore, the global trade focused fintech group, today announced that it has executed a trade finance transaction utilising an electronic payment undertaking (ePU) structure (in digital bill of exchange format) working with one of its SME clients, Abercore, a UK based sugar trader and advisory firm.

This pilot transaction by Mercore was for an amount of circa €118k and is the first in a series of ‘digital bills of exchange’ transactions with greater size and frequency. The underlying transaction involved the sourcing of sugar by Abercore from Pantaleon in Nicaragua for onward supply to a UK based food manufacturer.

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