STANDAGE Inc. (Head office: Minato-ku, Tokyo; President and Representative Director: Akinori Adachi; hereinafter “STANDAGE”) has raised a total of 150 million yen through a third-party allotment of new shares to Tokio Marine & Nichido (President: Shinichi Hirose, hereinafter “Tokio Marine & Nichido”) Fire Insurance Co and NTT DATA CORPORATION (President and Representative Director: Hiroshi Homma; hereinafter “NTT DATA”).

With this financing, STANDAGE closed its Series A round, bringing the total amount raised to approximately 470 million yen.

▶Background and Purpose of Fundraising

On December 27, 2021, STANDAGE announced that we will conduct a demonstration experiment to realize a new trade settlement mechanism that simultaneously exchanges digital currency (or crypto assets) for an electronic B/L (bill of lading) used in place of the cargo, together with Tokio Marine & Nichido, NTT Data, and TradeWallet Inc, aiming to be the first in the world to put it into practical use.
Tokio Marine & Nichido and NTT Data have invested in STANDAGE to accelerate efforts to commercialize this new trade settlement mechanism by the end of FY2023.
Through this capital and business alliance, we will further strengthen our collaboration to realize a new trade settlement mechanism and support safe and secure trade transactions between businesses.

The funds raised through the Series A round will be used to expand services, increase the number of personnel to strengthen development and operation systems, and strengthen marketing activities and sales promotion systems to expand the business of “DiGiTRAD,” a digital trading company service provided by STANDAGE that includes a new trade settlement mechanism and enables customers to completely entrust their trade.

 

▶Comments from the Underwriters

【Mr.Tetsunosuke Shintani, General Manager of Marine Business Department, Tokio Marine & Nichido Fire Insurance Co.】
The new initiative has social significance in that the rights to the cargo and the consideration for the cargo are exchanged at the same time, thereby ensuring simultaneous performance of claims and obligations, and realizing trade that is secure for both the seller and the buyer. We are convinced that the best option to realize this mechanism as a business is to partner with STANDAGE, which has a high level of expertise in both digital and trade.

【Mr. Shinji Setoriyama, General Manager, Digital Strategy Promotion Department, Financial Business Development Division, NTT DATA CORPORATION】
NTT DATA is taking on the challenge of creating new service models through technological collaboration with various venture companies as part of its open innovation efforts. This time, we had the opportunity to work on the realization of a new trade settlement mechanism using blockchain technology. We hope that this initiative will become a new social infrastructure for the digital age.

 

▶Comments from Akinori Adachi, Representative Director

The creation of new trade is a lifeline for Japan, and we must not only support existing trade but also expand trade to new markets that will grow in the future. Our mission at Standage is to use technology to bring trade business to areas where it has not been possible to do so in the past due to lack of infrastructure. By teaming up with Tokio Marine and NTT Data, two of Japan’s leading trading companies, STANDAGE will be able to provide even greater added value to its customers through its digital trading company service, “DiGiTRAD”, and build a next-generation infrastructure that will make trading more efficient.

 

▶About STANDAGE

Established in March 2017.
Established Nigeria office in December of the same year.
Expanding business to Kenya, South Africa, and Egypt in FY2021.
Provides “DiGiTRAD,” a complete trading service that can complete all trading operations, from matching buyers and sellers to settlement, finance, and cargo delivery.
Utilizing blockchain and crypto assets, it realizes safe, inexpensive, and prompt payment.
Having been selected for the “Subsidy for Technology Cooperation and Emerging Markets Development Project The project has been adopted by the Ministry of Economy, Trade and Industry for three consecutive years (2019, 2020, and 2021).
DiGiTRAD service official website: https://digitrad.world/

＜Contact us about this release＞
STANDAGE Corporation
tel: 03-6435-3371, fax: 03-6435-3372
President: Akinori Adachi, Vice President: Kenta Omori
E-mail: info@standage.co.jp