Fluent, a financial operating network built on blockchain technology, is rebranding to Hijro [/ˈhīdrō/] and has announced the Hijro Trade Asset Marketplace built on distributed ledger technology (DLT).

“Hijro is the financial operating network for global trade powered by distributed ledger technology, Hijro was designed to streamline and automate settlement, reduce fraud risk, and break down costly data silos in the $4 trillion open-account trade market”, the description reads.

The company said that the rebranding represents a refocus, particularly its goal to become the connected network or global “waterway” powering trade finance. The Hijro rebrand includes a new website at hijro.com allowing businesses, banks, lenders, and trade platforms to request access to working capital solutions, to become a funder on the Trade Asset Marketplace, and to join the Hijro network as a partner.

“The vast majority of the world’s prosperous cities are connected to waterways that have provided unrestricted access to goods, technology, and new ideas for thousands of years,” said Lamar Wilson, CEO. “I chose the name Hijro to be representative of the waterways that support global trade, connecting siloed, antiquated IT systems and financial services to reduce friction between banks, businesses, and non-bank lenders who join our network.”

The company further explains that the Trade Asset Marketplace is at the core of the Hijro Network and represents a robust multi-bank, multi-lender marketplace for trade assets. It leverages DLT to drive security, automation, and efficiency in origination, distribution, tracking, settlement, and reconciliation of trade assets, with a focus on open-account trade. The Hijro Trade Asset Marketplace provides access to a global network of businesses, banks, and liquidity providers who power working capital solutions built on the Hijro Network.

The Hijro team will continue to build on the foundation laid over the past two years which included a $2.5 million seed round.