TheHive Project, Gosocket Partner For Crypto-Powered Trade Finance

Nearly a year after launching its cryptocurrency-powered trade finance platform, TheHive Project is expanding its services to corporate payers through a partnership with Gosocket. The HiveProject recently announced on its website that it will be working with the B2B social networking company to develop a joint platform that links Gosocket users to invoice financing solutions offered by TheHive Project. The platform is slated to go live in the third quarter of this year, the firm said.

Furthermore, TheHive Project announced its Initial Coin Offering (ICO) selling HVN tokens, which can be used to pay for transaction fees when small businesses on the Gosocket platform need invoice financing.

“This is, by far, the biggest business deal we have ever struck,” TheHive Project said on its blog. “And now that we have expanded our reach beyond our European go-to markets, we have the foundations in place to be a truly global invoice financing solution to be reckoned with.”

The company noted that 500 million invoices are “ready to be financed” across 12 countries in Latin America, where Gosocket’s presence is largest. Gosocket already offers an invoice financing solution to its SMB users, processing an average of $200 million in factoring volume a month, TheHive Project said.

TheHive Project will merge its blockchain solution and the HVN token with Anticipos, the payment solution used by Gosocket to facilitate invoice financing.

Gosocket CEO Mario Fernández said in a statement, “After 15 years delivering eInvoicing solutions and with commercial operations in 12 countries throughout Latin America, as an open network based on the exchange of eInvoices between suppliers and buyers, Gosocket has been developing some disruptive concepts, including proactive financial services for SMEs. And our partnership with TheHive Project brings what we believe will probably be the next step in the digitalization of financial services — the usage of cryptocurrencies.”