FPT Corporation, SBI Holdings Inks $3mln MoU With Vietnam Blockchain Firm Utop
Technology company FPT Corporation and SBI Holdings Inc. collectively made investments to the tune of $3 million in Vietnamese blockchain tech company Utop. FPT Corporation and SBI Holdings Inc. have supposedly inked a Memorandum of Understanding (MoU) to invest $3 million in the partner firm Utop, a tech start -up based on the FPT’s enterprise level blockchain platform named akaChain.
Utop is structured to receive and redeem loyalty points at vendors in the same ecosystem.
The project supposedly allows small firms enrolled on the network to cut costs and safeguard data via the akaChain platform.
Regarding the path breaking innovations seen in the past few years, FPT Chairman Truong Gia Binh said 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.”
SBI has earlier made an investment in a multitude of cryptocurrency ventures, such as its own Vctrade exchange, alongside a sequence of investments in enterprises creating cryptocurrency framework and facilities. SBI and Ripple’s XRP-powered payment app, MoneyTap, goes live for account holders at chosen Japanese banks last October. Meanwhile, the app aimed to be made up of an association of 61 organizations, mirroring over 80% of all banking assets in Japan.
Again in that month, Viettel Enterprise Solutions Corporation, Viettel’s largest telecommunications operator, announced its aim to turn into Vietnam’s prominent blockchain technology company in five years. “Blockchain’s a boundless ecosystem. The most difficult task for Viettel is to choose the most effective blockchain technology that can be applied in daily life, “said deputy general manager Ngo Vinh Quy.