Blockchain News
FPT Corporation along with SBI Holdings Invest $3 Million in Vietnamese Startup Utop
Technology firm FPT Corporation and fiscal services company SBI Holdings Inc have collectively invested $3 million in Vietnamese blockchain startup Utop, local English language daily news outlet Viet Nam News reported on April 19.
FPT Corporation and SBI Holdings Inc have allegedly signed a memorandum of understanding (MoU) to spend $3 million in joint venture Utop, a tech startup according to FPT's venture blockchain system dubbed akaChain. Utop was made to obtain and redeem loyalty points in retailers inside precisely the exact same network.
The undertaking will supposedly enable tiny companies registered on the community to reduce prices and protected data throughout the akaChain platform.
FPT Chairman Truong Gia Binh explained that “the development of Industry 4.0 technologies has created breakthrough opportunities for businesses, mushrooming so many innovative business models. We call it digital transformation.”
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SBI has invested in several ventures in the cryptocurrency industry, including its exchange Vctrade, along with a set of investments in companies developing cryptocurrency infrastructure and solutions.
Last October, SBI and Ripple's XRP-powered payments program, MoneyTap, went reside due to account holders at chosen Japanese banks. At the moment, the program meant to incorporate a consortium of 61 associations, representing over 80% of all Japan's banking resources, in its own services.
That exact same month, the evolution and invention wing of Vietnam's biggest telecommunications operator Viettel Group, the Viettel Enterprise Solutions Corporation, establish a target to become Vietnam's top blockchain technology supplier in five decades.
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“Blockchain is an unlimited ecosystem. The most difficult task for Viettel is choosing the most effective blockchain technology that can be applied in daily life,” that the organization's deputy general manager Ngo Vinh Quy explained then.
