TruckCoinSwap (TCS) is a fintech and freight-tech company utilizing a blockchain-integrated mobile app to provide fast and free freight receivables settlement to transportation companies. Moreover, TCS is listed on CrossTower in the U.S. and abroad in 80 countries, and is now also listed on Uniswap.

Chief technology officer Jake Centner explained:

“Centralized exchanges can work very well, and the team couldn’t be more proud of the relationships TCS has made. However, the TCS token must also have a decentralized exchange and non-custodial option in the ecosystem for transportation companies and holders. Uniswap has been the gold standard in this space.”

To that end, TCS has created a process and platform identical to how carriers are settling now, with one added step. A few days after uploading freight documents into the TCS mobile app, a push notification is sent and settlement is made available in the real-time U.S. dollar (USD) value of TCS tokens.

The carrier can then accept settlement via direct deposit from TCS. After receiving the balance in its crypto wallet, the carrier can immediately sell through its exchange market to regain USD liquidity. By taking settlement via TCS, and being able to sell in a matter of minutes, carriers avoid both factoring costs and crypto volatility.

By industry averages, TCS estimates every factoring freightliner can recapture a significant portion of its net revenue. In the supply chain, reducing operating costs makes transportation companies more solvent and applies downward pressure on freight rates. In time, the costs of goods and, more specifically, food prices, can decrease.

Regarding the company’s adoption, CEO Todd Ziegler shared:

“TCS already has truckers involved in the beta, and we were just approached by two more large strategics. One has 223 trucks. The second is one of the largest companies in the U.S. managing freight documents, with over 500,000 transportation users. It speaks volumes that these companies are already interested in integrating with TCS.”

(By SARAH JANSEN)