Market Watch

SKYBIT Uses Blockchain To Improve Standards of Living for the Financially Excluded in Southeast Asia

Singapore, 16 Aug 2021, ZEX PR WIRE, SKYBIT International, a social enterprise based in Singapore, aims to use blockchain to improve standards of living for everyone, particularly the unbanked populations in Southeast Asian nations which accounts for 73% of the population or 470 million people. Singapore is known as the Smart Nation due to government initiatives to harness Blockchain, Artificial Intelligence, Internet of Things, Virtual and Augmented Reality and Big Data to create tech-enabled solutions. Singapore also has established itself as a world-class leader within the fintech industry, approximately 40% of startups in the region are from the FinTech sector.

Brief overview

Founded in 2015, SKYBIT’s solution uses digital assets that can flow freely online,  regardless of country borders. These digital assets allow for the transfer of monetary value easier, faster, securely and cheaply, creating new opportunities for Southeast Asians. In line with advocating financial inclusion, SKYBIT’s products and services are aligned with Singapore’s national development plans and the United Nation’s sustainable development goals (SDGs).

SKYBIT’s digital asset exchange allows users to convert between various digital assets and fiat currency, acting as one of SKYBIT’s core blockchain services ecosystem that will give rise to other innovative companies in the future. Other services like an international payment processor, advertising platform, payment button API, and NFT marketplace will enable SKYBIT to create income-generating opportunities for many different types of people and contribute to the growth of the emerging blockchain industry across Southeast Asia.

SKYBIT has issued a token that will be used as payment and rewards for the various services in SKYBIT’s ecosystem, such as to pay for trading fees on the digital asset exchange, for merchant fees or generated invoices on the payment processor, or for purchasing non-fungible tokens on the NFT marketplace. A SKYBIT Wallet app will also natively prioritize support for the SKYBIT token so that it can easily be used in SKYBIT’s various services.

International growth

SKYBIT has implemented a strategic marketing campaign that will attract global users, followed by the implementation of a global ambassador program to create brand awareness in various countries around the world. SKYBIT has a global marketing team as well as external service providers to ensure that the brand eventually becomes a household name. SKYBIT has formed strategic partnerships with key industry players around the globe, and additional partners will be onboarded as the business develops.

Since 2018, SKYBIT has been raising funds from angel investors, enabling the business to develop the platform, find the right talent and acquire the right resources. SKYBIT is conducting a public token sale to raise additional funds which will assist further development, turning the company’s vision into reality whilst delivering a greater, positive social impact to a global community that would benefit from SKYBIT’s products and services.

SKYBIT’s token sale on the ProBit Global exchange kickstarted on 12th August 2021 with a number of rounds in which SKYBIT tokens will be sold in limited quantities and at discounted prices. The token price is expected to gradually increase as token usage and liquidity increase. SKYBIT plans to list on several reputable, established centralized and decentralized exchanges.

SKYBIT management has been active with various events and media, and this has raised awareness of SKYBIT among both the industry and the public. In 2020 SKYBIT’s CEO and CTO were invited to New York to be interviewed at the Nasdaq exchange. During this time many key partnerships and relationships were established that will undoubtedly assist to drive SKYBIT to new heights into the future.

To keep up to date with SKYBIT’s progress you can follow them on Twitter or join their Telegram channel: 

Media Contact:
Daryl Naidoo, CMO

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