The Russian company delivered to Turkey wheat with bitcoin

The Russian company Prime Shipping Foundation from Rostov-on-don made a deal with the Turkish city of Samsun, which delivered 3000 tons of wheat paid for in bitcoin. To hedge the risks of the transaction were used for bitcoin futures platform CME Group.

«The deal was part of the pilot testing of the payment system based on the blockchain Prime Shipping Foundation,» – said the head of the company Ivan Vikulov.

Prime Shipping Foundation, a partner based in Gibraltar company Quorum Capital Ltd. and ship broker Interchart LLC, have used the technology of the blockchain, because «it allows you to immediately process payments and convert their cryptocurrency into Fiat currency». The group also plans to launch its own digital currency in mid-2018.

«We are trying to develop an international payment system that will be easier and faster, available today, – said Vikulov. – As far as we know, this is the first deal in freight forwarding industry, done at the cryptocurrency».

Prime Shipping Foundation intends to obtain a banking license in Gibraltar is one of the most bitcoin-friendly jurisdictions – according to the city, it will accelerate and will simplify the converting cryptocurrency to Fiat money.

The statement of the Prime Shipping Foundation was made shortly after one of the largest food suppliers — Louis Dreyfus announced the conclusion of the first trade agreement in agricultural products using blockchain. Trading house with 166 years of history have applied this technology to sell a cargo of U.S. soybeans to a Chinese company Shandong Bohi Industry.

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