An increasing number of companies worldwide are using digital trade credits (DTC) for a host of investment, transactional and operational purposes.
There are strong incentives and benefits for businesses to use DTC to purchase goods used for commercial purposes, including vehicles and office supplies as well as Personal Expenditure.
BBX Group gives businesses the ability to gain new suppliers and customers by connecting with other businesses on their platform.
The use of DTC is equivalent to the use of fiat currency, therefore businesses using the BBX Group platform are exposed to an alternative payment method for the same goods and services they would otherwise pay for in cash.
This benefits a business, in particular SME as it enables them to trade in non cash based transactions, freeing up their fiat currency for other goods and services.
The Australian Taxation Office endorses the use of DTC and regards the currency with the same rules as fiat currency.
DTC can be used to purchase products of any size with businesses being able to purchase assets such as printers, artwork, commercial vehicles etc. all the while acting as a legitimate tax deduction in turn, reducing Taxable income and liabilities.
COVID-19 hasn’t impacted DTC credits on the BBX platform
Quite simply, the use of purchasing business assets using DTC include…
-The ability to source and purchase goods and services instantly without the waiting period dictated by the use of fiat currency.
-The ability to lodge business transactions in the same manner as fiat currency and have that recognised by the ATO (specific to businesses trading in Australia).
-The ability to utilise grants and funding provided by governing bodies across DTC transactions, making your dollars work better for you.
Transactions occur in DTC in order to encourage businesses to work together and trade resources for a mutually beneficial result.
By having instant approval on transactions, Funds are cleared instantly thus helping avoid bad debts!
