freight

The conflict in the Middle East has led to disruptions in shipping through the Strait of Hormuz, causing global shipping costs to soar dramatically, and the war risk insurance premiums for vessels have risen rapidly.In addition, shipping companies also need to consider freight rates. Industry insiders indicate that freight rates have already increased by 11 to 12 times. The costs of insurance and detours are being passed on, continuously impacting global trade and supply chain security.

According to The Block, transportation trade finance provider TCS Blockchain has announced the integration of PayPal USD (PYUSD) to provide same-day financing and on-chain settlement for freight invoices.Truck drivers can exchange invoices for TCS tokens, which can then be converted into PYUSD stablecoins, thereby avoiding the 30-180 day payment terms and over 30% revenue loss associated with traditional factoring companies. The company claims that this solution can reduce costs by 90%, with an expected annual processing volume exceeding $1 billion by 2026.

ChainCatcher news, according to GlobeNewswire, Freight Technologies (Nasdaq: FRGT) announced that it has signed an agreement with an institutional investor to raise up to $20 million through convertible bonds for the purchase of the official Trump meme coin, TRUMP.According to the financing agreement, Freight Technologies plans to issue convertible bond notes totaling $1 million in the first round of financing, with the possibility of an additional $19 million in funding under specific conditions.It is reported that the company has previously purchased FET tokens worth approximately $8 million.

ChainCatcher news, according to Jinshi Data, the CNBC reported that on the 11th local time, the U.S. Customs and Border Protection issued an alert informing users that its system for exempting freight duties was experiencing a malfunction.According to reports, the latest alert issued by the agency indicated that the malfunction lasted for more than 10 hours and has now been restored. The affected freight includes all trade goods from countries currently under the 90-day tariff suspension period implemented by the Trump administration.