September 2018 in Singapore TransferTo invests in OXIO to fuel growth and technology innovation
- OXIO operates a mobile internet exchange and use blockchain technologies to power fast and affordable mobile internet access for billions of users worldwide.
- TransferTo operates a B2B network which interconnects telecommunication providers and digital financial service providers globally.
- TransferTo will leverage OXIO’s exchange network to deliver more sustainable and cost-effective solutions across the its digital value services portfolio.
Today there are more than 5 billion mobile subscribers around the world, but only about 30% are able to stay consistently connected with enough data to satisfy their needs. Mobile data is expensive for most buyers and the friction in acquiring data access is often substantial. OXIO provides a mobile internet exchange that leverages on blockchain technologies to ensure users are always connected, and pay less for mobile data, all while helping carrier networks run more efficiently.
This business partnership 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. Through this, TransferTo will be able to create a more sustainable solution to increase its technology capabilities to improve the way we sell and use mobile data. In a similar fashion, OXIO will have a direct connection to TransferTo’s vast network of global carrier partners with the aim to help fill their connectivity needs.
TransferTo CEO, Peter De Caluwe said: “Our investment in OXIO will help to further accelerate our transformation and put us in a better position to execute our strategy and mission to provide forward-thinking and sustainable digital value solutions to our network partners – and support our 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.”
“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,” commented OXIO CEO, Nicolas Girard. This investment provides the perfect fit for both companies as we are able to leverage off each other’s strengths to deliver smarter mobile solutions to connect people worldwide.”
In addition to the investment, TransferTo’s Chief Technology Officer, Bruno Premartin, will become a Technical Advisor to OXIO.