MITHRIL SYSTEMS
Mithril Systems is building a cross-border trade settlement platform that releases payment based on verified shipment facts rather than documents or signatures. The system holds funds off its own balance sheet on blockchain, releasing them only when machine-readable trade conditions agreed by both parties are met. Settlement operates under English law, leveraging the Electronic Trade Documents Act 2023 for legal parity between digital and paper documents.
- Financial Technology
- Blockchain & Cryptocurrency
- Software Only
Funding
Founders
Founder details are not available yet.
Product
Problem
Around US$2.5 trillion of sound cross-border trade goes unfinanced each year because the system prices trust by standing—balance sheet size, credit rating, or bank reach—rather than the substance of the trade itself. Smaller, newer, or geographically disadvantaged firms face rejection rates near 41 percent, even when the underlying trade is perfectly good. Every existing instrument—letters of credit, insurance, escrow—protects against some risk but not the risk that sits in the trade itself.
Solution
Mithril settles cross-border trades by releasing payment based on the proven completion of the trade, not on a signature or document. It is neither a payment rail nor a lender; instead, it holds funds off its own balance sheet on blockchain, ensuring money can only be paid to the seller once the trade is verified or returned to the buyer. The platform lets counterparties define what a completed trade looks like and holds both sides to that definition. Settlement operates under English law, which now grants electronic trade documents the same legal standing as paper ones, enabling digital settlement to attach to real trade documents. The structure is designed so that buyer and seller agree on the standard before the goods move, and what the machine reading cannot cover is named at the outset and priced by the parties.
Target Audience
Primary customers are small and mid-sized exporters and importers engaged in cross-border trade who face financing rejections due to limited balance sheets or credit history, as well as their trading counterparties seeking reliable settlement.
Features
- Blockchain-based fund custody that keeps money off Mithril's balance sheet, payable only on trade verification or return
- Trade-defined release conditions, allowing counterparties to specify what constitutes a completed trade
- Settlement under English law, leveraging the Electronic Trade Documents Act 2023 for legal parity between digital and paper documents
- No reliance on credit ratings, balance sheets, or intermediary vouching for trade execution
- Machine-readable shipment facts form the release trigger, not documents or signatures
- Architecture designed for a pilot programme with selected counterparties, with no live trades yet