Acudeen expands presence to Australia

ACUDEEN Technologies is expanding its presence to Australia through a partnership with First Growth Funds, a publicly listed firm in Australia.

The partnership would enable the accelerated growth of the AssetChain Ecosystem being developed on top of its current Acudeen platform, which has facilitated more than $ 6 million ( P320.6 million) worth of transactions in the Philippines as of to date, the homegrown financial service startup said in a statement.

Under the collaboration, First Growth Funds will help Acudeen in facilitating, distributing, and developing the ACU tokens.

First Growth Funds is an investment firm which manages a portfolio of investments such as companies listed on the Australian Stock Exchange (ASX), as well as those seeking investment ahead of an initial public offering ( IPO) and initial coin offering ( ICO).

Acudeen also said it is now in discussions with relevant parties to establish the company in other emerging markets in Southeast and Central Asia. It added that its expansion to Myanmar and Singapore has enabled them to cater to more markets using the blockchain- based structure currently under development.

The firm’s next step will be holding more roadshows worldwide to raise awareness, onboard competent developers, and forge more tie-ups with relevant collaborators, Acudeen Chief Executive Officer Jordan Magellan Fetalino 3rd said.

“The token will be listed on mid- level tier exchanges within the next few months. Once it has enough volume, we will be able to see the token on larger higher volume exchanges. In the meantime, our primary focus as an organization is to develop and deliver an excellent product which will exceed all expectations once we release the beta in Q3 of 2019,” Fetalino said.

Earlier in June, Acudeen announced its partnership with private equity firm Anthem Asia to help fill the credit gap in Myanmar.

JORDEENE B. LAGARE