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Volvo Group tests in-house cryptocurrency for global supply-chain transactions

Volvo Group tests in-house cryptocurrency for global supply-chain transactions

An internal concept uses a closed blockchain to streamline supplier transactions, traceability and compliance recordkeeping, but Volvo has not announced any public launch or large-scale deployment.

Fact Check
Multiple consistent reports (U.Today, bloomingbit, Binance Square) confirm that Volvo Group, through Ivan Branco (head of information management, AI and analytics for logistics in Belgium), is assessing a proprietary cryptocurrency and closed blockchain for supplier and transport transactions. Branco is quoted framing this as driven by commercial/business necessity rather than technology experimentation, matching the claim. Search results independently corroborate Branco's role and a Cardano Foundation interview as the originating source. The primary interview source itself (Cardano Foundation / YouTube) could not be fully opened, so full primary validation is incomplete, keeping confidence at medium.
Summary

Volvo Group has tested a proprietary cryptocurrency inside a closed blockchain network as part of an internal project aimed at simplifying transactions with material and transport suppliers. The experiment, discussed by Ivan Branco, Head of Information Management, AI and Analytics at Volvo Group, focused on a shared system for Volvo and selected counterparties rather than a publicly traded digital asset. The project remains exploratory, with no timeline for deployment across Volvo’s global operations. Volvo is also studying blockchain for supply-chain records, product traceability and compliance needs, including tracking component origins as goods move through multiple suppliers and preparing for wider use of Digital Product Passports in Europe. The latest test builds on earlier Volvo-linked blockchain work on cobalt traceability with Circulor in 2019 and later related adoption at Polestar. Branco also pointed to obstacles to broader enterprise blockchain use, including integration with existing systems, scalability, maintenance and limited understanding of the technology inside companies.

Terms & Concepts
  • closed blockchain: A private blockchain network that allows only approved participants to access and use the shared ledger.
  • Digital Product Passports: Digital records intended to track product information such as origin, materials and lifecycle data across supply chains.
  • traceability: The ability to track the origin and movement of materials or components through different stages of a supply chain.