TradeGo Completes the World’s First Stablecoin-Based eBL Financing in International Trade

Singapore, September 17, 2025

JOC Australia Pty Ltd (“JOC”) has successfully completed the world’s first stablecoin-based eBL financing transaction based in international trade through the TradeGo platform. The transaction marks a breakthrough in validating the feasibility of stablecoin settlements in real-world cross-border trade scenarios and sets a new milestone for the digital transformation of global trade finance.

A New Gateway to a US$30 Trillion Market

Originally emerging from the crypto ecosystem, stablecoins are now reshaping the global cross-border payment landscape. While they have gained adoption in digital-native sectors such as e-commerce, where transactions are inherently digitalized, these represent only around 11% of total cross-border trade. The remaining 89%—comprising bulk commodities and containerized goods shipped by sea—remains largely offline, relying on paper-based documents and fragmented data systems.

With the ongoing digitalization of international trade, it is expected that by 2030, the key trade documents will be fully electronic, led by electronic Bills of Lading (eBLs). This shift opens the door for stablecoins to enter the mainstream US$30 trillion trade finance market.

Business Overview

On 15 September, as a container of frozen beef departed the Port of Melbourne bound for Laem Chabang, Thailand, an innovative financing transaction was executed on the TradeGo platform.

Freight Solutions, an Australian logistics company, issued an original electronic Bill of Lading (eBL) to JOC via TradeGo, replacing the traditional paper-based issuance and courier process. JOC then locked the eBL into a smart contract and initiated a financing request. Upon triggering the contract conditions, ownership of the eBL was transferred to the financier’s account, while the corresponding stablecoin loan was instantly credited to JOC’s account.

A month later, upon cargo arrival, JOC repaid the loan in stablecoins and redeemed the eBL. The buyer made the final payment and took delivery, completing a fully digital, blockchain-verified cycle of stablecoin-based eBL pledging transactions.

Users’ Comments

Henry Huang, Head of JOC Australia

“Using electronic bill of lading and stablecoin for in-transit financing proved significantly more efficient and cost-effective than traditional methods. By recording every document and transfer on-chain and making them fully traceable, blockchain provided transparency and certainty, giving us greater peace of mind throughout the transaction. We’re committed to embracing stablecoins in future cross-border transactions, and this milestone marks a significant advance in digitizing supply chain finance for Australia’s meat export industry.”

Kane Wang, Business Director, Freight Solutions

“Issuing original eBLs on TradeGo platform completely replaced the old paper process. From issuance to circulation and redemption, every step happened online. The efficiency gain across all stages was tremendous. We’ll continue to deepen our collaboration with TradeGo to digitalize more of our operations.”

Breakthrough Achievements

First On-Chain Interaction Between eBL and Stablecoin
The eBL, as a digital proof of title, became a native on-chain asset capable of direct interaction with stablecoins—establishing an integrated, verifiable link between ownership and funds.

First On-Chain Pledge Financing and Redemption of eBL
Through smart contracts, ownership rights, loan disbursement and redemption were executed automatically, creating a new model for in-transit cargo financing.

Real-Time Compliance Data Synchronization
Trade, payment, and logistics data were matched automatically on-chain, enabling instant settlement and significantly lowering KYC/KYT and compliance costs.

TradePay: Trade Finance Solution of Dual-Engine Based on eBL + Stablecoin

KYC: vLEI-Based Digital Identity Verification
TradePay adopts the vLEI digital identity standard developed by GLEIF, enabling verifiable and interoperable corporate, managerial, and representative credentials on-chain—eliminating redundant KYC across platforms.

KYB: eBL-Centric Digital Document System
All trade documents, including eBLs, are generated and verified on-chain with full legal equivalence to paper originals. eBLs can be issued, endorsed, transferred, and locked digitally, ensuring single ownership and preventing double financing.

Aggregated Web3 Payment and Stablecoin Financing Channels
TradePay connects multi-currency, multi-issuer compliant stablecoin rails with licensed payment institutions and exchanges to provide 24/7 clearing and settlement. Each loan, repayment, and document status is synchronized on-chain for real-time AML/KYT traceability.

From Proof of Concept to Scalable Adoption

The successful completion of this transaction demonstrates TradeGo’s pioneering capability to validate the compliance and feasibility of stablecoins in real maritime trade environments. Moving forward, TradeGo will further enhance the TradePay ecosystem:

Ecosystem Partnerships and Scale Deployment
Collaborate with more stablecoin issuers, Web3 payment providers, and global trade enterprises to expand real-world use cases, increase transaction volume, and provide efficient, low-cost financial rails backed by auditable compliance data.

Empowering Digital Supervision
By synchronizing on-chain trade and payment data, TradeGo enables regulators to verify transaction authenticity and improve transparency in cross-border trade flows.

Regulatory Collaboration and Standardization
Work with global regulators to explore new frameworks for stablecoin payment oversight and digital trade standardization.

Looking ahead, TradeGo will remain committed to its vision — Payment-as-Settlement. Financing-as-Disbursement, Compliance-by-Design. By deeply integrating compliant stablecoins into global trade workflows, TradeGo aims to unlock the real-world value of Web3 technologies across the US$30 trillion international trade market.