Blockchain Startup OXIO Receives Investment From TransferTobr>
OXIO was founded in March of this year to help mobile subscribers and devices around the world pay less for data and stay connected so that they can be consistently active participants in the global digital economy. It provides an open exchange and protocol on top of the blockchain, orchestrating supply and demand so that actors in the mobile connectivity chain can operate more efficiently.
Founded in 2005, TransferTo operates a global digital value services network offering safe, reliable and more accessible mobile value services for emerging markets. Its B2B cross-border network interconnects financial institutions and digital financial service providers globally to facilitate real-time international mobile top-ups and money transfers to and from emerging markets.
The investment will provide TransferTo with access to OXIO’s technology and marketplace to buy and sell mobile Internet data and deliver greater value to its network partners. The partnership will also allow TransferTo to create a more sustainable solution to increase its technology capabilities to improve the way they sell and use mobile data. OXIO will have a direct connection to TransferTo’s vast network of global carrier partners with the aim to help fill their connectivity needs. In addition, Bruno Premartin, TransferTo’s Chief Technology Officer, will become a Technical Advisor to OXIO.
Peter De Caluwe, CEO of TransferTo, said that their investment in OXIO will help to further accelerate their transformation and put them in a better position to execute their strategy and mission to provide forward-thinking and sustainable digital value solutions to their network partners – and support their wider goal to connect people globally.
“The technology and operational acumen of the OXIO team will be a welcome addition to our company, and through this investment, we look forward to developing our technology and product capabilities,” De Caluwe said.
Nicolas Girard, CEO of OXIO, said that this investment provides the perfect fit for both companies as they are able to leverage off each other’s strengths to deliver smarter mobile solutions to connect people worldwide.
“TransferTo is already a global leader in digital value services and have the backing of an impressive management team, innovative technology solutions and a solid partner portfolio,” Girard said.
Earlier this year, TransferTo integrated the Stellar blockchain to enable a more seamless and efficient settlement method between its network partners. At the time, Aik-Boon Tan, Chief Customer Officer at TransferTo, said that the integration enables their partners to better serve both the migrant workers sending money home and their families receiving it