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TraXion seeks to promote greater financial inclusion in the region by offering an easy, cheap, quick, reliable and efficient “one-stop shop” TraXion wallet app for un- and under-banked consumers to access basic financial services.
TraXion is well-positioned to become one of the key leaders offering digital banking services in Southeast Asia because:
TraXion utilizes blockchain and Hyperledger Fabric technology which allows it to effectively tackle most of the major concerns associated with incumbent financial services platforms serving the unbanked – ie. high transaction costs, operational inefficiencies, mistrust of the financial system, and lack of transparency.
TraXion is developing a “universal banking model” which provides a suite of services aimed at appealing to unbanked consumers, who tend to have an array of financial needs but may be deterred by the prospect of using several different platforms to perform different functions. This differentiates TraXion from most other known traditional, digital as well as blockchain-enabled players who generally specialize in one or two products. In our view, this feature plugs an unmet demand in the market and may be the critical ingredient that can enable TraXion to successfully capture its target market where its peers have not been able to.
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