ShardLab and StoreHub Develop Blockchain Payment System in Southeast Asia

ShardLab announced on the 24th that it will make a strategic investment in StoreHub, a payment platform in Southeast Asia, and establish a joint venture to develop a blockchain payment and rewards system based on a network of 20,000 merchant locations. This joint venture marks the first application of blockchain-based financial technology in actual commerce, planning to introduce stablecoin payments and personalized rewards to validate the experiences of consumers and merchants. Southeast Asia is experiencing rapid growth in the digital payment market due to its young population and high mobile usage rates, with StoreHub operating over 20,000 merchant locations across four countries and processing more than 200 million transactions annually. The two companies plan to expand their services based on a proven business model, with specific business plans to be disclosed in line with the service launch timeline. The representative of StoreHub emphasized that blockchain technology will contribute to increasing merchant revenues, while the representative of ShardLab stated that they aim to create tangible value through this partnership.

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