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SmartPesa rolls out ICO for credit scoring data solution

Monday 25 June 2018 | 10:00 AM CET

SmartPesa, a Singapore-based fintech company, has announced the launch of a Token Sale (ICO) for its new blockchain network SmartPesa Credible.

The network is built using blockchain technology to provide Know Your Customer (KYC) information, self-declared business data and cash flow statistics on a transparent, distributed and auditable platform. This merchant-controlled data can now be shared with lenders, insurers and financial services organisations in search of SMEs. SMEs and merchants manage their own credit and use tokens for data verification and generation services, pledge tokens as loan collateral, and sell tokens to investors using the SmartPesa CryptoATM.

The new blockchain aims to address the increasing funding gap for small and medium-sized enterprises (SMEs) in emerging markets by unlocking the value of inconsistent business credit data. With a presence in five emerging market countries and powering transactions for over 8,000 SMEs, SmartPesa provides Mobile Applications and POS terminals to accept different modes of electronic payments. This allows merchants accept various payment methods in the fragmented developing markets.

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