Micro, Small and Medium Enterprises (MSMEs) are one of the strongest drivers of economic development, innovation and employment.
However, access to finance is frequently identified as a critical barrier to growth for MSMEs.
Creating opportunities for MSMEs in emerging markets is a key way to advance economic development and reduce poverty.
The BBX Group is enabling and encouraging the growth and development of MSMEs through its trade mark business to business trusted transaction trading portal for the purchase and sale of goods and services.
Members of the BBX group make purchases for operation expenditures, using a settlement unit DTC (Digital Trade Credit) or sell goods and services on the trade portal.
The BBX System unlocks invoice settlement on day one by digitalising and tokenisation of trade credits from buyers to the sellers.
The DTC (Digital Trade Credits) are settlement units for the transaction, enabling businesses to have access to finance, removing the barrier of growth by providing an alternative currency in which they can use to trade.
BBX members use BBX tokenized trade credits (DTC) as the settlement units in buying and selling transactions on the BBX Trade portal.
DTC are given as a line of credit for all BBX members when they first set up an account on BBX, immediately providing access to finance that would otherwise be a barrier for trade for MSMEs.
Unlike other alternative currencies, DTC has an equivalent value as the in-country currency, with zero interest rate for negative balances and positive balances.
Members are encouraged to make purchases with DTC from BBX members, to manage expenditure and overheads.
The BBX group gives businesses the ability to gain new customers and suppliers by networking with other businesses on their platform, taking businesses from local appeal to developing global appeal.
Settlement and payment in DTC is instantaneous, and thus removes bad debts in accounts.
As it stands, 131 million MSMEs in developing countries have unmet financing needs, with an estimated value of $4.5 trillion.
By unlocking invoice settlement on day one the BBX group are encouraging businesses, and giving them the opportunity for further growth, increasing their international appeal.
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