Copy link
Increase text size
Decrease text size
Link copied

Bezant enters $10B prepaid market with Korea Prepaid Card investment

Tue, 13 Aug 2019, 06:28 am UTC

Korean Prepaid Card has invested in Singapore-based Bezant, in a bid to introduce new products and services to cater to the global payments market.

As per an announcement, the latest move will help Bezant launch real-world use-cases that will expand and incorporate blockchain in prepaid cards products.

Korea Prepaid Market, which is the leader in the country’s $10 billion prepaid industry, offers integrated services solutions to “issue prepaid cards, distribute/top-up, and offer payments/settlements” for various prepaid payment methods, including gift cards and vouchers. It is also the official distributor of Google Play gift cards and provides service for an online/offline integrated easy payment system called Mobile Pop.

As reported by CoinDesk, Bezant has been providing Blockchain-as-a-Service (BaaS) using Hyperledger Fabric technology since April. It also has its own cryptocurrency, dubbed as BZNT. The company has inked several partnerships deals with other companies, including South Korean fintech Hanjudo, Thailand’s Nova Learning, database management firm Chequer, and peer-to-peer lender Transwiz.

The terms of the partnership were not disclosed; however, both companies aim to capture the global prepaid market, which is expected to grow by up to $2.37 trillion by 2022.

Meanwhile, peer-to-peer bitcoin marketplace Paxful announced its partnership with crypto service provider The White Company in June to launch a prepaid service that will allow traders to exchange bitcoin into prepaid cards in multiple currencies.

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
  • Bitcoin (BTC) $7,269.74 (+0.15%)
  • Ethereum (ETH) $144.71 (-0.34%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $212.14 (+1.89%)
  • Litecoin (LTC) $44.52 (+0.94%)
  • Bitcoin (BTC) $7,269.74 (+0.15%)
Dec 13, 2019 (Friday)
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
Crypto Technicals: BCH/USD edges above 5-DMA, near-term upside likely on break above 20-DMA (211.74)
Terra launches stablecoin-powered payments service in Mongolia
Crypto Technicals: Ripple (XRP) edges higher from session lows at 0.2154, 'Hammer' at lows raises scope for minor gains
Korean cybersecurity firm partners with R3 for digital asset management and MPC technology
SEC charges Shopin’ founder with orchestrating ICO fraud; Accused deactivates social media, Telegram account
Crypto exchange Kraken looking for operations director to helm ‘special-purpose depository institution’
Twitter looks to blockchain to decentralize social media
Crypto Technicals: LTC/USD flashes signs of recovery, 'Dragonfly Doji' and 'Bullish Divergence' could support minor upside
ING bank developing custody project for digital assets: Report
Basel Committee on Banking Supervision mulls designing global prudential standard for crypto-assets
Franklin Templeton leads blockchain-based social impact platform’s funding round
Crypto Technicals: BTC/USD breaks above 50H MA, 'Bullish Divergence' could support further gains
TokenSoft submits transfer agent filing to the SEC; Decision to arrive in 30 days
Crypto Technicals: ETH/USD recovery lacks traction, upside capped at 5-DMA
Glencore joins Responsible Sourcing Blockchain Network for tracing cobalt
Grant Thornton releases second report on Cryptopia liquidation; Pulls back nearly $5M from various sources
Chainalysis launches compliance solution for Bitfinex amidst class-action lawsuit
Dec 12, 2019 (Thursday)
Binance launches Latin American fiat gateway; adds new fiat payment options
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.