Investment to fuel growth and technology innovation
There are more than five billion mobile subscribers around the world, but only 30% are able to stay connected with enough data. Mobile data is expensive and the friction in acquiring data access is often substantial. To attempt to tackle this TransferTo, has announced its investment into OXIO to bolster its portfolio and technology capabilities across the digital value services business.
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, stated: “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.”
Nicolas Girard, OXIO CEO, added: “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. 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.
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