Belgian blockchain startup SettleMint launches operations in India

SettleMint, a Belgium-based enterprise blockchain firm, has announced the launch of its operations in India.

Founded in 2016 by Matthew Van Niekerk and Roderik van der Veer, SettleMint is a blockchain-platform-as-a-service company that aims to make it easy for organizations to build business solutions with blockchain. It already has offices in Belgium, United Arab Emirates, Saudi Arabia, and Singapore.

Some of its clients include Carrefour Belgium, Islamic Development Bank, tZERO, Standard Chartered, and many others.

SettleMint’s operations in India will be headed by Shazad Fatmi, Express Computer reported. Commenting on the company’s expansion, SettleMint CEO Matthew Van Niekerk said:

“We are delighted to begin our journey in India, which is currently a hotbed of blockchain technology activity. Keeping in line with the incredible adoptation pace of blockchain technology world over, India as well stands to benefit from blockchain as a key technology to realise Honourable Prime Minister’s vision of becoming a $5 trillion economy.”

He added that the platform significantly reduces the complexities associated with blockchain technology, helping organisations to transform a business idea into a working blockchain application “from 12-18 months to at most a few weeks.”

As per the report, SettleMint is developing more than 35 fully functioning blockchain applications and researched over 500 known use cases. Its patented technology ‘Mint’ covers 85 percent of blockchain use cases and reduces the time to market for developers. It allows integrating blockchain technologies into an application in just three hours.

“With various industries looking to adopt the technology in India, our focus would initially be on Banking and Finance, followed by industries such as healthcare, retail, logistics, insurance, micro finance institutes (MFIs) and government services,” added Niekerk.

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