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FPT Corporation and financial services firm SBI Holdings Inc. jointly invested $ 3 million in Vietnamese start-up blockchain Utop, local English-language news daily Viet Nam News reported on April 19. .
FPT Corporation and SBI Holdings Inc. have signed a memorandum of understanding providing for the investment of $ 3 million in joint venture Utop, a technology start-up based on FPT's business blockchain platform, akaChain. Utop is designed to earn and redeem loyalty points at merchants in the same network.
The project is expected to allow small businesses on the network to reduce costs and secure data via the akaChain platform. FPT President Truong Gia Binh said, "The development of industry 4.0 technologies has created revolutionary opportunities for businesses, multiplying the number of innovative business models. We call this the digital transformation. "
SBI has already invested in several companies in the cryptocurrency sector, including its own Vctrade stock market, alongside a series of investments in companies developing cryptocurrency infrastructure and services.
Last October, MoneyTap, the payment application optimized by XRP from Ripple and Ripple, was put online for account holders in some Japanese banks. At the time, the application aimed to include in its service a consortium of 61 institutions representing more than 80% of all banking badets in Japan.
In the same month, Viettel Enterprise Solutions Corporation, Vietnam's largest telecommunications and development arm, set itself the goal of becoming, in five years, the first supplier of blockchain technology in Vietnam. "Blockchain is an unlimited ecosystem. The most difficult task for Viettel is to choose the most effective blockchain technology that can be applied on a daily basis, "said Ngo Vinh Quy, deputy general manager of the company.
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