- ZW Data and VCan FinTech aim to build an integrated cross-border e-commerce global payment and financing systems.
- The companies intends to assist e-commerce players to build on-chain data and provide a blockchain-enabled and interconnected system for supply chain, product information, and payment information.
China, July 7, 2021 /AlexaBlockchain/ – ZW Data Action Technologies today announced that it has signed a strategic cooperation agreement with VCan Fintech for blockchain-based cross-border e-commerce solutions.
ZW Data Action Technologies Inc.
Founded in 2003, ZW Data Action Technologies Inc. offers online advertising, precision marketing, data analytics and other value-added services for enterprise clients. ZW Data has steadily built its Internet business ecosystem in the last 18 years. It has accumulated marketing and transaction data for nearly 100 million users for precision digital marketing.
Vcan Fintech
Founded in 2016, Vcan Fintech provides global financing and payment solutions for cross-border e-commerce merchants. Its financial services include securities trading, asset management and financing loans, and offers products such as V-account, V-lend, and V-power. VCan is licensed to provide financial services, and has a license from the U.S. Financial Crime Enforcement Agency, and a license from the British Financial Industry Regulatory Authority. It currently has over 300 partners worldwide and supports services in more than 200 currencies.
ZW Data – VCan FinTech Partnership
ZW Data and VCan FinTech will start in-depth cooperation in three major aspects – business, operation, and technology. In business aspect, it will build data interfaces with VCan and integrate advertising and marketing business. In operation aspect, through VCan’s regulatory licenses in Hong Kong, the United States, the United Kingdom and other regions and countries, the companies expect to launch an integrated cross-border payment service platform to connect overseas banks, visa, UnionPay, international prepaid cards, Paypal and other financial service systems.
In technology aspect, both the companies aim to build a B2B cross-border payment platform backed by blockchain technology, and provide merchants with blockchain technology support, cross-border payment data analysis, solution consulting, industrial capital solutions, and multi-dimensional industrial interaction services.
The strategic cooperation was launched when China’s exports bounced back in the first quarter of 2021 and reached RMB 4.6 trillion with year-over-year increase of 38.7%, according to General Administration of Customs of the People’s Republic of China. Cross-border e-commerce in the first quarter increased by 69.3% based on the data from iiMedia. It is expected that in 2021 cross-border e-commerce transactions alone will reach RMB 12.7 trillion.
Handong Cheng, Chairman and Chief Executive Officer of ZW Data, said: “Under such a favorable background, we will seize the momentum with VCan and build an integrated cross-border e-commerce global payment and financing systems. We aim to assist e-commerce companies to build on-chain data and provide a blockchain-enabled and interconnected system for supply chain, product information, and payment information.”
