.jpg)
ProMEX, a Hong Kong-based online platform to trade physical commodities, launches today its trading platform with China’s most famous national liquor Moutai as its first product. This marks also the first and only online platform globally to discover prices and trade liquor in a transparent and efficient manner. Moutai is known not only for its elegant soy flavour, but also its potential as a store of value. The product has a great global following with an annual consumption of about three million bottles ex- mainland China at an estimated value of US$ 1.5 billion.
ProMEX delivers an end-to-end digital experience in physical commodity trading. The platform provides direct, real-time trading without intermediaries or clearing houses and eliminates settlement risk for its users. This shortened settlement cycle also reduces counterparty risks.
“We are very excited about this historic day. ProMEX brings simplicity and efficiency to trading commodities, all from an intuitive mobile application. Following today’s opening, users can buy, hold, sell, make or take delivery in Moutai, without having to organize logistics or set up a storage facility. Users can simply download the app from their preferred app store to join the platform,” said Mark Ho, Co-Founder & CEO of ProMEX.
The platform, regulated by Hong Kong’s Customs and Excise Department, will also develop other physical commodities including “green” products to promote sustainability among the relevant industry users. It is built for growth with new product listings and geographical expansion as well as scalability into demographics not yet involved in the commodity trade.
