Shiptek Solutions signs deals for its XLOG platform
FOREIGN investors and partners are forming a beeline to Shiptek Solutions Corp.’s XLOG, the world’s first fully integrated blockchain-based end-to-end shipping and logistics platform, only a few months after its official launch.
Recently, Shiptek Solutions founder and CEO Eugenio Ynion, Jr. announced the signing of partnership deals with Future Greens Commercial Broker, a primary digital platforms solutions provider in the MENA (Middle East and North Africa) region, and Quadd Solutions (Pvt) Ltd., a Sri-Lanka-based pioneer in self-service solutions for sophisticated modern lifestyle. Another company from Malaysia also signed an agency agreement with Shiptek.
“The signing of these partnership deals with investors from the MENA region, and Sri Lanka is a testament to the growing recognition of the global community of the services of XLOG,” Mr. Ynion said. “Already, the global shipping and logistics industries are looking at XLOG to move cargos anywhere in the world seamlessly using the latest in blockchain technology.”
The XLOG platform is 100% developed in the Philippines, leveraging the latest technologies for a seamless experience. It creates a complete documentation of door-to-door shipment from the country of origin to country of destination. It also provides instant access to both historical and current shipments.
According to Joey Union, XLOG’s chief operations officer, XLOG aims to help shipping companies and shippers (exporters/importers) realize savings and operational efficiency by directly connecting them with service providers in the global logistics industry.
“Because all XLOG data will be uploaded on the blockchain, it is nearly impossible to tamper with or manipulate information, making the system ideal in preventing shady transactions,” he said.
In May, Shiptek Solutions inked an investment deal with UBX, the fintech subsidiary of lending giant UnionBank of the Philippines (UBP). The partnership with UBX allows Shiptek to enjoy the credit facility network of UBP, while at the same time fusing their shared expertise in one ecosystem where logistics and finance create value-laden experiences and conveniences for stakeholders.
“We are making great strides in the shipping and logistics industries. We are hoping to expand the access of micro, small and medium enterprises (MSMEs) to participate in the global economy,” Mr. Ynion said. “The signing of agreements with groups from the MENA region and Sri Lanka is a step closer to achieving that goal.”
Mr. Union said XLOG would provide the spark for growth for MSMEs by giving them the right tool to broaden their network, while at the same time giving them access to useful and affordable financial products and services that meet their needs.