• Days
  • Hours
  • Mins
  • Secs
  • Mon, 21 Oct 2019, 06:08 PM
  • All times are UTC
  • Edition:
    International
Copy link
Increase text size
Decrease text size
Link copied

Zilliqa teams up with Xfers to bring blockchain benefits to Southeast Asian businesses

Image Via Zilliqa (Twitter)

Tue, 18 Jun 2019, 10:05 am UTC

Public blockchain platform Zilliqa has announced its partnership with Xfers, a Singapore-based fintech startup, to explore the use of payment solutions powered by distributed ledger technology for over 500,000 users in Southeast Asia.

Founded in 2014, Xfers is the Monetary Authority of Singapore (MAS)-approved Widely Accepted Stored Value Facility (WA SVF). It boasts an extensive portfolio of clients in the fintech space including Southeast Asian peer-to-peer lending platforms Tunaikita and Julo as well as Payfazz, an agent-based financial platform in Indonesia.

Xfers currently offers open and interoperable application programming interfaces (APIs) and software development kits (SDKs) to its existing enterprise partners, in order to ensure that they can enter new markets with greater ease while complying with local regulations. It has processed over US$260 million across Singapore and Indonesia in 2018 alone.

Under the partnership, Xfers will leverage Zilliqa’s recently launched smart contract functionalities to drive greater efficiencies in cost, transparency, and security for users onboarding its payment platform.

Building the architecture of Xfers’ payment infrastructure on Zilliqa’s smart contracts layer will bring about new innovations to Xfers’ suite of enterprise solutions, which include support for payments, disbursements, regulatory compliance, a built-in digital wallet, and more, the release said.

“By partnering with Zilliqa, we hope to provide a cutting-edge solution that grants equal opportunities and cost-saving solutions for digital businesses looking to set-up in the region. As we enter the next phase of growth for financial innovation, only the most robust technological solutions will enable us to fully embrace the digital economy of the future,” Tianwei Liu, CEO and Co-founder of Xfers, said.

Zilliqa is an enterprise-grade blockchain platform renowned for use of sharding as on-chain solution to preserve decentralisation and enable greater scalability. To date, its blockchain is able to process 2,828 transactions per second.

Earlier this month, Zilliqa enabled smart contracts with a view to transforming existing business processes and driving efficiencies.

“One of the core ideological tenets spurred on by the decentralised finance movement is the promise of increased efficiencies and a trusted digital economy. Years on, blockchain has shown how it can solve some of the existing challenges in legacy financial infrastructure systems while delivering on these promises,” Zilliqa President Amrit Kumar said.

“We are excited to embark on this strategic partnership with Xfers as we enable greater usability, security, and scalability to a new and far-reaching use case in today’s financial services space”.

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $8,226.73 (+1.29%)
  • Ethereum (ETH) $174.19 (-0.49%)
  • XRP (XRP) $0.292400 (-0.04%)
  • Bitcoin Cash (BCH) $231.55 (+3.21%)
  • Litecoin (LTC) $54.65 (-0.33%)
  • Bitcoin (BTC) $8,226.73 (+1.29%)
Oct 21, 2019 (Monday)
11:50
Crypto Technicals: LTC/USD halts downside at strong trendline support, breakout above 21-EMA to confirm near-term upside
11:12
Crypto Technicals: XMR/USD edges above 21-EMA, technical bias turning bullish
07:57
Crypto Technicals: BCH/USD bounces off strong trendline support, break above 21-EMA (228.68) to see bullish continuation
06:18
Crypto Technicals: ETH/USD struggles to extend gains, finds stiff resistance at 179
04:55
Crypto Technicals: BTC/USD pauses upside at 21-EMA (8326), break above to buoy Bitcoin bulls
Oct 18, 2019 (Friday)
12:51
Telegram’s claim “Grams will not be security once TON Blockchain launches” is insufficient, argues SEC
11:51
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
11:51
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
11:23
US Senator comes out in support of Facebook’s crypto, finds hostility towards Libra “puzzling”
10:38
Crypto Technicals: BCH/USD tests trendline support (209), dip till 78.6% Fib (168.35) likely
10:13
IBM, Raw Seafoods partner to digitize scallops supply chain using blockchain
08:48
India’s Reliance Industries reveals blockchain plans for Bill of Lading and Letter of Credit transactions
07:48
Crypto Technicals: Ripple (XRP) erases most of previous session's gains, retrace below cloud dents further upside
07:22
Crypto exchange Upbit operator Dunamu to launch OTC trading platform for unlisted securities
06:52
Crypto Technicals: ETH/USD fails to extend recovery, resumes weakness, 167.50 (Oct 6 low) in sight
06:22
Stablecoin initiatives highlight shortcomings in cross-border payments: G7 Working Group
06:11
Crypto Technicals: LTC/USD extends choppy trade below 21-EMA, bias bearish
05:02
Crypto Technicals: BTC/USD confined to narrow range, bias bearish below 5-DMA (8132)
04:48
Telegram calls SEC’s emergency injunction “unreasonable”, argues gram tokens are not securities
Oct 17, 2019 (Thursday)
13:38
Bermuda to develop blockchain-based national ID system with Shyft and Perseid Network
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft