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Fasset taps Ethereum to boost sustainable infrastructure

Fasset Founder and CEO Mohammad Raafi Hossain says they want to create a blockchain-based ecosystem for the efficient financing of sustainable infrastructure.
Fasset Founder and CEO Mohammad Raafi Hossain says they want to create a blockchain-based ecosystem for the efficient financing of sustainable infrastructure.

UK-headquartered fintech company Fasset has launched the world’s first comprehensive operating system dedicated to the ethical financing of sustainable infrastructure on the Ethereum blockchain.

Inspired by the United Nations Sustainable Development Goals, Fasset hopes to expedite the construction of sustainable infrastructure while providing safe, secure, and yielding investments to a broader investor base. This is in response to increasingly pronounced climate degradation and a clear lack of capital entering the sustainable infrastructure sector — estimated by the World Economic Forum to be moving towards a US$15 trillion deficit by 2040. 

“With climate change expected to cost the world economy US$7.9 trillion by 2050, impacting lives and communities, the need for sustainable infrastructure has never been more urgent. In addition, the COVID-19 pandemic has placed the global economy at a standstill with massive job losses and markets tumbling around the world. The most direct and effective way to accelerate the production of large-scale sustainable infrastructure projects — and, in turn, create sustainable jobs for the global economy — is through hard asset tokenization and the democratizing access to these investments. We believe that there is, today, an unprecedented opportunity to equalize the global economy while creating sustainable jobs and fighting climate change — and the time to seize it is now,” said Mohammad Raafi Hossain, Fasset Founder and CEO and former Technology Advisor to the United Arab Emirates Prime Minister’s Office, in a press statement.

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Technology

Bonds.PH app makes bond investing easy for unbanked

Union Bank of the Philippines President and CEO Edwin R. Bautista says the Bonds.PH mobile app will benefit every Filipino.
Union Bank of the Philippines President and CEO Edwin R. Bautista says the Bonds.PH mobile app will benefit every Filipino.

Have you ever thought of investing in retail treasury bonds? Now the Bonds.PH mobile app makes it easy for every Filipino, even the unbanked, to do so for as low as US$100.

The Philippine Bureau of the Treasury (BTr) is the first in Asia to launch an app for the distribution of retail treasury bonds enabled by Distributed Ledger Technology (DLT).

“The launch of Bonds.PH paves the way for all Filipinos, particularly the unbanked, to easily and affordably invest in the BTr’s newest retail treasury bond, RTB-24 or the Progreso Bonds. The mobile app presents a compelling opportunity for all to invest and help the Republic raise funds for economic recovery and COVID-19 response,” Philippine National Treasurer Rosalia V. De Leon said in a press statement.

The launch was made possible in partnership with Union Bank of the Philippines (UnionBank) and Philippine Digital Asset Exchange (PDAX).

“This is the first retail treasury bond issuance to leverage on blockchain technology in Asia, and likely the world. The Philippines is ready to lead the way into the future and tech up the nation with innovative, inclusive opportunities, powered by emerging technologies, for the benefit of all Filipinos,” said UnionBank President and CEO Edwin R. Bautista.

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Technology

TrueMoney supports sari-sari stores via Dagdag Puhunan

Sari-sari store owner Amy Garcia is thankful that TrueMoney is giving her convenient access to essential food and non-food products.
Sari-sari store owner Amy Garcia is thankful that TrueMoney is giving her convenient access to essential food and non-food products.

Amy Garcia, a sari-sari store owner for more than two decades, is one of the many beneficiaries of the low touch economy innovations of the award-winning Dagdag Puhunan program of TrueMoney Philippines.

“In these extraordinary times, TrueMoney Philippines accepts the challenge of helping the simple Filipino sari-sari store owner to thrive and survive,” TrueMoney Philippines CEO and Country Managing Director Eugene Go told Digital Life Asia.

TrueMoney, a payments and remittance network, has rolled out Dagdag Puhunan for the benefit of local communities amid the COVID-19 pandemic. In partnership with Unilever, it enables cashless payment for the purchase of essential food and non-food products.

“The sari-sari store is now more important than ever to supply the basic needs of the neighborhood given the mobility constraints and health safety precautions that everyone needs to observe in this time of the pandemic. While online groceries are now gaining popularity, a large number of consumers will most likely spend the money for delivery fees on their basic necessities instead,” TrueMoney Loans Business Unit Head Rocio-An Rentuza said.