Ideanomics to provide digital financial solutions for Ningbo Free Trade Zone
Ideanomics has entered into an agreement with Ningbo Free Trade Zone Cross-Border Supply Chain Management and Settlement Technology to service cross-border supply chain management and trade finance services. The Ningbo Free Trade Zone services the Port of Ningbo-Zhoushan, the first port to handle 1 billion tons in cargo throughput in a calendar year. Ideanomics will have multiple revenue stream opportunities including a share of the fees in connection with the payment and settlement of up to RMB500M, or $74M, per day in the Ningbo Free Trade Zone. Ideanomics will provide client referral services, fintech service support for NFTZ Clearing Company's platform, and other big data management technology platforms. Together with NFTZ, Ideanomics will conduct in-depth collaboration in cross-border supply chain management and payment and settlement business in areas.