Grupin Expands Global Business Through Philippine Fintech Company

Blockchain specialist company Groopin recently announced on the 18th that it has secured a blockchain-based payment remittance service network by acquiring the Philippine fintech company Surge Mobile Access (SMA) through a stock exchange method, and is officially entering the global fintech business.

According to Groopin, SMA was established to help unbanked Filipinos conduct financial transactions easily and conveniently, and is well known in the Philippines as a fintech company providing embedded finance to businesses. Embedded finance refers to the method of integrating financial functions into non-financial services that already have customers.

Through the acquisition of SMA, Groopin plans to offer various services including utility bill payments, donations, international remittances, agency banking services, bill payments, and QR code-based payment services.

Additionally, to provide fast and affordable remittance services in the Philippines, Groopin plans to further enhance and newly launch the OTC platform called Surge Direct Express (SDX), developed by SMA, through the Groopin Chain. Furthermore, SMA has secured a fast and affordable remittance network by partnering with DA5, Inc., the largest remittance specialist in the Philippines licensed by the Bangko Sentral ng Pilipinas (BSP), enabling Groopin to expand its services into blockchain-based international remittance operations.

Moreover, SMA has signed a customer linkage and wallet service agreement with Binance, the largest virtual asset exchange, through which Groopin plans to carry out various collaborations with Binance in the future.

This content was produced with the assistance of AI translation services.