What is trace:original? What is the digital envelope?

At the BAFT (Bankers Association for Finance and Trade) Global Annual Meeting in Washington, DC, Trade Treasury Payments (TTP) caught up with Patrik Zekkar, CEO of Enigio, to discuss the company’s recent innovations in digital trade documentation.

Enigio’s flagship product, trace:original, is already known for its ability to create tamper-proof digital documents with full legal equivalence to paper. But in response to user demand, the company has now launched a new offering: the digital envelope.

Zekkar said, “The background to why we created an envelope was on the request from our customers and users of trace:original. They want to have a container to collect all the documents into a set and send to the receiving party or parties.”

Much like its paper-based namesake, the digital envelope allows for secure packaging and transmission of trade documents. However, it also introduces new functionality that would be impossible with physical delivery. Users can extract, replace, or add documents to a package, creating a flexible and auditable process that supports real-time updates.

Zekkar said, “trace:original’s envelope is more or less a digital FedEx with, of course, much faster, cheaper and more secure delivery. It provides traceability, audit trail, but also the ability to get the instant acknowledgement or receipt and opening of the envelope.”

With new legislation in the United States, specifically the anticipated adoption of UCC Article 12 in New York, digital trade documents are likely to gain further traction. The US joins a growing list of jurisdictions, including the UK, France, and Singapore, that have taken legal steps to enable electronic original documents in trade.

Zekkar said, “I expect it to have quite a considerable impact on the flexibility of law selection. The US is a big trade economy, and therefore, that flexibility will drive adoption.”

For many, digitalisation represents both a tactical response and a long-term strategy amidst a trade environment marked by uncertainty, new tariffs, and rising costs

Zekkar said, “We are facing turbulence, uncertainty, and volatility, but we also have the cure, and digitalisation is a key element here. If we come together, something good may come out of this.”

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