The challenge
Mercore, a fintech group founded in 2021, set out to tackle persistent inefficiencies in global trade. As both a technology provider and a new non-bank lender, they saw how traditional, paper-based trade documentation slowed down transactions, limited liquidity, and created friction for businesses seeking fast access to working capital.
Mercore’s co-founder, Anthony Wadsworth, explains: “We were seeing that there were various challenges in the trade space. From our analysis of the market, Enigio’s trace:original was the only true open solution to go digital.”
The solution
By adopting trace:original, Mercore gained the ability to generate digital negotiable instruments (DNIs) and other original trade documents. Unlike closed platforms, only the creating party needs to be onboarded — making it simple to issue documents while enabling all other participants to transact freely without registration.
This flexibility meant Mercore could quickly establish a node, issue DNIs, and extend the benefits directly to their clients. Transactions became faster, safer, and easier to distribute.
The impact
Mercore has already completed a series of landmark transactions using Enigio’s technology:
- The first digital bill of exchange issued and funded by a non-bank lender.
- Multiple “Four-Corner” transactions — the first of their kind — where DNIs were exchanged between financial institutions, exporters, and importers.
- A pioneering secondary market deal with Lloyds Bank, showing how digital documentation can dramatically reduce completion times and unlock greater liquidity.
- Launched a turnkey solution using trace:original for Mercore customers — quick to set up, portal-based, and ready to use without heavy IT integration
As Anthony Wadsworth notes, the benefits extend across the chain:
“The quicker we execute as financiers, the longer opportunity we get to charge interest and earn money. And for corporates, the sooner they get access to working capital — and can put that to use to generate more revenue. It’s beneficial for everyone.”
Looking ahead
For Mercore, the focus now is on scaling adoption and building market confidence through more live deals, more partners, and more funding institutions joining in.
Enigio’s Executive Director, Alex Waites, reflects on the collaboration:
“The successful use of digital negotiable instruments in the secondary market is particularly exciting. It highlights the growing maturity of digital trade finance and the tangible benefits of faster, more secure processes that unlock greater liquidity.”
With Enigio’s open solution at its core, Mercore is demonstrating how trade can be financed digitally — today.
LEARN MORE
- Mercore + Enigio: A turnkey digital trade finance solution for financial institutions and their clients
- Digital bills of exchange in action: Lloyds and Mercore complete multiple live transactions
- Mercore, together with Tradeable, complete their first digital bill of exchange transaction in Africa supporting trade between Kenya and Belgium
- Join Lloyds Bank, JP Morgan, Mercore and Enigio for the ICC C4DTI Digital Trade Conference and Awards
- Mercore completed the UK’s first digital Bill of Exchange transaction, providing finance into the UK SME sector and supporting sugar trade with Nicaragua using Enigio’s trace:original