Geneva, Switzerland and Charleston, US, 5th of February 2025
Covantis is enhancing its value proposition with the launch of Covantis eBL powered by Secro, a solution that empowers companies to issue and exchange electronic bills of lading (eBL) alongside other electronic documents, and supports real-time collaboration between all stakeholders, connecting exporters, charterers, buyers, agents, vessel owners and banks in a secure ecosystem.
Covantis clients can now use electronic documents in the execution of contracts therefore speeding up the presentation process, reducing the risk of fraud and need of Letters of Indemnity, while improving efficiency for all parties involved in the trade.
This new documents presentation solution complements Covantis existing proposition that digitalizes the agri bulk commodities execution process by encompassing the creation, exchange, review and automated checking of shipping documents.
“As the legal framework evolved with UK law recognizing electronic documents, many Phytosanitary Certificates, Quality Certificates, and Certificates of Origin transitioned to digital formats. With many authorities now accepting electronic and digital documents for customs clearance, we partnered with Secro to introduce the Covantis eBL solution to the agri industry. We are confident that through this partnership we will once and for all make the change from paper to electronic a reality for the agri industry.
We made this choice based on Secro’s technology fit, straight forward and efficient legal approach to eBLs, speed of delivery and capacity to adapt to market needs, and also the team’s expertise. We are confident that through this partnership we will once and for all make the change from paper to electronic a reality for the Agri industry noted Petya Sechanova, CEO, Covantis SA”
“With Covantis, we have the ideal partner, sharing core values such as customer focus, a relentless drive for innovation, and deep industry expertise”, said Michele, Co-Founder and CEO of Secro Inc. “The result of our strategic alignment is a solution that delivers significant benefits to clients—enhancing operational efficiency through Covantis workflows and improving trade finance performance with Secro’s tokenized eBL. There is nothing like this in the trading and fintech space: our unique joint value proposition opens new horizons for the agri industry.”
About Covantis
Covantis is an advanced platform revolutionizing post-trade execution workflows that’s transforming how the world moves agricultural commodities. Founded by leading global trading companies in the agricultural sector, Covantis connects the industry on a single digital platform to streamline trade execution for grains, oilseeds, byproducts, sugar and vegetable oils.
The platform is used by over 55 global and regional forward-thinking agri trading firms, no matter the size – small or large. The company is trusted by players throughout the supply chain, including trading companies, exporters, FOB sellers, charterers and CFR buyers. It’s also used daily by surveyors, agents and others in the wider agri commodity ecosystem.
About Secro Inc
Secro lowers the cost and risk of commodity trading by digitizing documents of title in a compliant, robust, and user-friendly way. Exporters, importers, traders, logistics service providers, and financial institutions collaborate on Secro’s digital platform to create, manage, and exchange legally binding, globally recognized digital negotiable instruments, such as e-bills of lading.
Dozens of leading organizations across the oil and energy, agriculture, fertilizer, and chemical sectors trust Secro and its proprietary tokenization technology to eliminate trade friction, accelerate cash cycles, and enhance equity returns. Secro also offers shipowners and port agents a collaborative digital solution to streamline the documentary needs of charterers.
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