NTT Digital collaborates with Amazon and StraitsX to showcase tokenized accounts payable use case
NTT Digital, with Amazon and StraitsX, has showcased a pioneering use case for tokenizing accounts payable, utilizing “scramberry WALLET…
NTT Digital, with Amazon and StraitsX, has showcased a pioneering use case for tokenizing accounts payable, utilizing “scramberry WALLET SUITE,” a digital wallet solution for businesses. This demonstration was featured at Amazon’s booth during the Singapore Fintech Festival (SFF).
The demonstration app allowed festival participants, roleplaying as Small and Midsize Enterprises (SME) owners, to receive payable tokens in their “scramberry WALLET SUITE” and trade them on a simulated exchange at the Amazon booth. Financing the tokens on the exchange enables SMEs to receive upfront capital in XSGD, a Singapore dollar-backed stablecoin issued by StraitsX, wrapped as Purpose Bound Money.
Normally, SMEs face varying payment terms from 7 to 90 days as a seller on online marketplaces, or as a supplier to large corporate buyers. If this use case is realized, SMEs will be able to shorten the payment period by selling tokenized payables.
This demonstration aims to gather insights and learnings to develop a potential industry solution that could enable corporate buyers, marketplaces, and SMEs to access more accessible lending and borrowing options through tokenized assets.
The “scramberry WALLET SUITE,” which has been available to corporate customers since September 2024, has been updated on November 1, 2024, to support overseas users. Additionally, starting from the same day, it became possible to develop it as a browser application, and the wallet function can be readily incorporated into web services and smartphone native applications.
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