TransferTo, a cross-border mobile payments network that topped $800 million in the first six months of this year, has invested in blockchain firm OXIO. According to a release, OXIO operates a mobile internet exchange and uses blockchain technologies to power fast and affordable mobile internet access for billions of users worldwide. TransferTo says it will leverage OXIOs exchange network to deliver “more sustainable and cost-effective solutions across the its digital value services portfolio.”
The OXIO platform is described as providing 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. It is estimated there are over 5 billion mobile users today with poor or insufficient data connections.
TransferTo’s partnership with OXIO will enable TransferTo access to their marketplace where they can buy and sell mobile data. OXIO will have a direct connection to TransferTo’s network of global carrier partners with the aim to help fill their connectivity needs.
TransferTo CEO, Peter De Caluwe said their investment in OXIO will help to further accelerate our 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.”
OXIO CEO, Nicolas Girard called the partnership a perfect fit for both companies.