SGX-listed OIO Holdings Limited is pleased to announce its entry into the Indonesian market with a Memorandum of Understanding with PT. Infiniti Teknologi Indonesia.
FREMONT, CA: Providing blockchain consulting and development services to potential customers in Indonesia through a partnership with PT. Infiniti Teknologi Indonesia, to promote and implement bespoke blockchain solutions for various industries in Indonesia. SGX-listed OIO Holdings Limited is pleased to announce its entry into the Indonesian market with a Memorandum of Understanding with PT. Infiniti Teknologi Indonesia.
Beneath the MOU, OIO will cooperate with Infiniti to enable the companies throughout various Indonesian industries planning to adopt the blockchain-based technology in their business operations, with the prime focus of unlocking new growth areas and addressing the operational inefficiencies. The MOU is fruitful for two years from 2 October 2020, unless mutually agreed between the parties for early termination or further extensions.
Background to the Partnership
OIO strives to be one of the leading providers of cost-effective and innovative solutions on the basis of blockchain to further fuel the growth of enterprises in Asia. Partnering with Vietnam-based Infinity Blockchain Group ("IBG"), OIO presently markets consultancy and software development services for enterprises seeking to adopt easy-to-use and highly cost-effective blockchain solutions for various industries - like, shipping, logistics, construction, and others. OIO's vision is to help the enterprise customers solve their real-world issues by providing them with an appropriately customized blockchain solution.
Headquartered in Singapore, and a leading global blockchain cluster places OIO in a strategic position to access the increasing demand for enterprise blockchain solutions. According to a market intelligence firm, the Asia-Pacific region accounts for approximately 19.3 percent of global blockchain spending. Even after the accounting for COVID-19 related spending slowdowns, IDC expects the blockchain spending to grow at a five-year Compound Annual Growth Rate of 55.3 percent for the Asia Pacific region (ex-Japan) 57.1 percent worldwide - with global spend estimated to reach $14.4 billion by 2023.