Following a successful Token Sale run in June, ACU Token, the utility token of Acudeen Technologies, Pte. Ltd., will officially have its first listing on the BTCEXA Exchange on Friday, August 24, 2018.
BTCEXA is an accredited member of the EXA (Exchange Alliance), featuring a clearing system which effectively ensures that all transactions are secured and encrypted with a dedicated team that is on standby 24/7 to provide stability in their operations.
ACU will initially open with one trading pair (ACU/USDT). As a gesture of appreciation for the Acudeen Community, a special registration code (Valid from August 20 onwards) will be provided which grants users 0% trading fees for trades made on ACU to USDT and vice versa, effective until December 31, 2018.
Based in Singapore, Acudeen is one of the most successful startups in the region. Launching in its first market, Philippines, it has facilitated over $6,000,000 worth of invoice receivable transactions in the span of less than two years, growing from a team of three to over 50+ employees regionally and just recently completed their expansion to Myanmar under the KyoPay brand with its join venture partner Anthem Asia. Acudeen is backed by known investor groups like 500 startups, and Philippine industry leaders like Jean Henri Lhullier (Cebuana Lhullier) and Januario Jesus “JJ” Atencio
(former CEO of 8990 Holdings). The company has been founded by Founder Institute (Silicon Valley incubator program) alumni Mario Jordan ‘Magellan’ Fetalino III and Mario Salazar back in 2016 when they saw the opportunity to bridge the multibillion (USD) credit gap for SMEs in Southeast Asia.
Acudeen’s natural progression is to scale up to providing its services to the rest of the ASEAN region, enabling SMEs to accelerate the growth of their businesses by utilizing the marketplace to list, sell, and liquidate their pending invoices. The ACU Tokens serve as the native utility tokens for the AssetChain Platform, Acudeen’s blockchain network for Movable Assets, which will be the catalyst to create a regional ecosystem that invoice sellers and funders can fully trust and rely on.
Heralded as one of the forerunners of Financial Inclusion in
Emerging Markets in Asia, the company has taken a leap forward by integrating blockchain capabilities into their current model in order to cater to the needs of the global market. Using the Stellar Platform, transactions may occur between individuals from different countries at a fraction of the cost and time it takes as compared to current available methods of remittance. This means that movable assets such as inventory, trademark, warehouse receipts, physical products and the like — not just invoices, upon completion of the whole blockchain network development, can now be listed and sold on the Acudeen Platform.
Through this initiative, small to medium sized enterprise owners will see faster growth by providing accessible financing to these business at rates cheaper than traditional SME financing and without the need for hard collaterals like real estate.
The listing of ACU on this exchange is the first of many. Currently,
the Acudeen team is working closely with their development partners at IBM Singapore, brainstorming and strategizing the best way to deliver a quality product come Q3 in 2019. First Growth Funds Ltd. (FGF) is the official facilitation partner of Acudeen Technologies.
AUX:FGF is a publicly listed company in Australia that has agreed to assist in the distribution and usage of the ACU Tokens ensuring that the overall progression in the market is in line with Acudeen’s vision of developing a blockchain network where movable assets can be listed and sold, thereby creating a trustworthy and robust environment for SMEs and funders to transact especially in emerging markets where financing is inaccessible and expensive.