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PALO ALTO, Calif.— SwiftPass, a leading mobile payments service provider in Asia, and Wallyt, a Hong Kong based Fintech that provides international mobile payments and open banking solutions, announced today that they will integrate their solutions with Findora. Findora is a blockchain network that leverages zero-knowledge proof technology to ensure privacy for financial transactions while remaining auditable. Findora supports confidential transaction processing, verification and asset issuance for any cryptocurrency or financial asset, such as equities, derivatives, debt and cash.
“Among its peers, Findora has a unique approach to financial systems, with a balance between transparency and privacy for building a large-scale transaction network. We are excited to partner with Findora and, together, provide more Fintech solutions,” said CEO of Wallyt, Tong Liu.
Wallyt’s global presence and SwiftPass’ expansive platform and user base are ideally suited for Findora’s confidential ledger. The use of Findora is expected to provide enhanced data safety and privacy for the financial institutions and other clients they serve.
“Findora Development Foundation is excited to partner with two dynamic platforms in Wallyt and SwiftPass, in the constantly evolving Fintech and payments sector. The Findora blockchain’s unique approach to combining cryptography and blockchain will help Wallyt and SwiftPass achieve both confidentiality and auditability,” said F.I.R.S.T. Director of Findora Foundation, Paul Sherer. “
Findora is a blockchain protocol founded in 2017 by John Powers, the former CEO of Stanford University’s $25 billion endowment fund. At the core of the Findora blockchain protocol is a confidential ledger that supports encrypted transaction processing, verification, and asset issuance.
Wallyt is a Hong Kong-based FinTech company dedicated to providing mobile payment and open banking solutions. The company provides banks with scenario-specified Fintech solutions, equipping banks with extensive tech-capabilities against rising FinTech competitors. Wallyt now serves more than 100 banks and financial institutions in over 50 countries and areas.
Founded in 2013, SwiftPass is the leading mobile payment service provider in China. The company partners with more than 200 banks and non-banking financial institutions globally with mobile payment solutions, covering over 30 million merchants. SwiftPass processes more than 40 million payment transactions daily, with an annual transaction value of more than 150 billion USD.
In 2017, SwiftPass merged with Huafon Microfibre (300180.SZ) and became the first listed company in China’s mobile payment industry.