{"id":18970,"date":"2022-06-05T16:11:29","date_gmt":"2022-06-05T16:11:29","guid":{"rendered":"http:\/\/egrowonline.com\/?p=18970"},"modified":"2022-06-05T16:11:29","modified_gmt":"2022-06-05T16:11:29","slug":"banks-prepare-to-liquidate-irish-blockchain-venture-independent-ie-says","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=18970","title":{"rendered":"Banks prepare to liquidate Irish blockchain venture, Independent.ie says"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<div class=\"articleIAB\">\n<div class=\"d-flex d-print-none flex-column justify-content-center\">\n<p><small>advertisement<\/small><\/p>\n<div class=\"mobileView\" style=\"margin: 0 auto 30px auto;width: 100%;text-align: center\"><a target=\"_blank\" href=\"https:\/\/nexo.io\/earn-crypto?utm_source=theblock&amp;utm_medium=fixed&amp;utm_campaign=theblock_display_ad_earn_jun22\" rel=\"sponsored noopener\"><img decoding=\"async\" src=\"https:\/\/www.tbstat.com\/wp\/uploads\/2022\/06\/display-ad-450x450-2.jpg\" style=\"width:100%;max-width:300px\" \/> <span \/><\/a><\/div>\n<\/div>\n<\/div>\n<div>\n<p>We.trade, a Dublin-based blockchain company established and co-owned by 12 banks, is calling in a liquidator, <a target=\"_blank\" href=\"https:\/\/www.independent.ie\/business\/irish\/major-banks-start-winding-up-irish-blockchain-venture-41718365.html\" rel=\"noopener\">The Independent.ie<\/a> reported today.<\/p>\n<p>The joint venture of banks including HSBC, Deutsche Bank and KBC, along with IBM, has called for a creditors\u2019 meeting next week, where a liquidator from PwC may be appointed, the report said. We.trade is seeking to be wound up under the Companies Act, according to a meeting notice.<\/p>\n<p>We.trade, which was established in 2017 to develop a platform for trade finance, has been loss-making, the report said. Its latest accounts, for 2020, show losses of about 8 million euro ($8.6 million).<\/p>\n<p>In 2021 the company raised 5.5 million euro from investors, according to the <a target=\"_blank\" href=\"https:\/\/www.gtreview.com\/news\/fintech\/blockchain-platform-we-trade-refills-its-coffers-ceo-departs\/\" rel=\"noopener\">Global Trade Review<\/a>.<\/p>\n<p>A person familiar with the company\u2019s operations said that it has been unable to secure more funding, The Independent.ie reported, adding that employees were recently informed of the move to appoint a liquidator.<\/p>\n<\/div>\n<section class=\"articles bg-grey-lightest color-outer-space py-5 d-print-none\" data-v-68c34900=\"\">\n<h2 class=\"font-headline font-size-14 text-center sectionTitle\" data-v-68c34900=\"\">\nTrending Stories<br \/>\n<\/h2>\n<\/section>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.theblockcrypto.com\/linked\/150204\/banks-prepare-to-liquidate-irish-blockchain-venture-independent-ie-says\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>advertisement We.trade, a Dublin-based blockchain company established and co-owned by 12 banks, is calling in a liquidator, The Independent.ie reported today. The joint venture of banks including HSBC, Deutsche Bank and KBC, along with IBM, has called for a creditors\u2019 meeting next week, where a liquidator from PwC may be appointed, the report said. We.trade [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":18971,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[38],"tags":[1253,73,8752,5647,8751,1683,1675],"class_list":["post-18970","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-banks","tag-blockchain","tag-independentie","tag-irish","tag-liquidate","tag-prepare","tag-venture"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/06\/Yearly-Blockchain-Funding-Wrap-Up-image.png","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/18970","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=18970"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/18970\/revisions"}],"predecessor-version":[{"id":18972,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/18970\/revisions\/18972"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/18971"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=18970"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=18970"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=18970"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}