First cross-border digital marketplace goes live in the UAE: UAE-based holding company GlobalX Group has launched Tradex, the UAE’s first digital B2B cross-border, trade-dedicated marketplace with an initial investment of AED 1 bn, according to statements here and here. The marketplace was developed in partnership with Iraq’s Qi Card.

The platform will debut its operations with a UAE-Iraq trade corridor — a market earmarked to reach some AED 243 bn by the end of the decade.

The platform is designed to ease export and import processes, simplify payments, and tighten compliance across international markets. It aligns with the Emirates’ larger plans to support innovative ventures, which aim to strengthen regional and international commerce, Dubai Customs Director General Abdulla Mohammed Busenad said.

Tags: