An upcoming public blockchain platform named Zilliqa has announced today that it will be partnering with a Singapore-based stored value facility called Xfers in order to drive much more efficiency in the business sector of the ASEAN region.
The partnership will be mostly targeting the distribution of ledger technology in order to facilitate faster payment solutions for more than half a million users in the Southeast Asian region.
Xfers will contribute its financial inclusion and fintech knowledge to the partnership by supplying relevant tools in order to support Zilliqa’s compliance with local regulatory standards. Xfers is quite knowledgable about the P2P lending industry in the region as it owns several of them in Indonesia.
Xfers left a comment on the partnership, mentioning how important it is to cater to the Southeast Asian market when it comes to fintech and the blockchain as the most of the region’s population is not using any forms of financial services, in fat almost 70% of the population is simply unbanked.
By tapping into such a large market, not only do Xfers and Zilliqa finds themselves in a lucrative situation, but also at a pre-disposed location for implementing growth and value in terms of digital finance for the future.
Zilliqa’s main value is in its abilities to facilitate much larger scalability in the blockchain sphere, currently reaching as much as 3000 transactions within one second.
Considering the 600 million potential customer base in the region, the platform will indeed be dependant on the blockchain’s performance in terms of transaction and confirmation speed.