Vietnam blockchain startup Utop raises US$3M from two large corporates

Blockchain-based startup has received backing from Vietnamese firm FPT Corporation and Japanese financial services company SBI Holdings, as reported by TokenPost. Just last week, both companies signed a memorandum of understanding (MoU) to invest US$3 million into Utop.

Not only an investor, FPT also provided its enterprise blockchain akaChain to be implemented in Utop’s .

Utop aims to bridge the loyalty point program among merchants by making it easy for users to collect and redeem loyalty points at retailers within the same network.

Utop believes this approach will help small to grow faster because they are enabled to link their reward programs with each other to reduce costs and ensure data , as well as enhances customer experiences

“This platform has been tested in FPT’s minimum viable ecosystem as well as sectors such as , , and finance since last December,” explained Pham Nguyen Vu, co-founder, and director of Utop.

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