BOSTON--(BUSINESS WIRE)--Airfox, a financial services company providing the unbanked and underbanked in emerging markets with access to capital, today announced the expansion of its technology partnership with Pareteum Corporation (NYSE MKT: TEUM), a rapidly growing Cloud Communications Platform company. Airfox will now provide hundreds of companies in Pareteum’s cloud communication platform with access to its AirToken mobile payments and microloan technology.
Airfox and Pareteum initially partnered in February 2017 to help mobile operators make data access more affordable through the Airfox Mobility Platform. Airfox later launched AirToken, an Ethereum-based digital utility token that facilities the transfer of mobile airtime and currency, payments for goods and services, and enables a peer-to-peer microlending program—all with minimal friction and fees. The expanded partnership enables Pareteum to offer Airfox’s new, revolutionary AirToken technology to its clients.
Airfox’s blockchain technology will enable MVNOs and smart city companies in Pareteum’s network to seamlessly provide unbanked and underbanked consumers with access to financing solutions via their mobile phones. In addition, unbanked individuals will be able to access Airfox’s revolutionary credit scoring technology, which leverages a user’s mobile profile to assess their risk profile without the need for traditional credit bureaus.
“Airfox’s mission is to expand mobile capital and financial services for the billions of unbanked and underbanked consumers in emerging markets,” said Victor Santos, CEO and Founder at Airfox. “Airfox’s enhanced partnership with Pareteum accelerates our timeline and enables MVNOs on the Pareteum cloud communications platform to deliver microloans and financial services with the AirToken blockchain technology. We believe we can help Pareteum deliver more value to their clients with our product offerings and enable MVNOs to generate new revenue streams in emerging markets.”
“The blockchain will revolutionize many industries with solutions that include decentralized and efficient payments, e-wallets, smart contracts, financing, and settlement guarantees,” said Vic Bozzo, CEO at Pareteum. “By expanding our partnership with Airfox, Pareteum is excited to provide this cutting-edge blockchain technology to MVNOs and mobile services providers throughout the world. These product enhancements further establish Pareteum as a leading innovator in cloud communications and strengthen our 2018 product roadmap.”
With Airfox’s unique, blockchain-powered personal finance app (available later this quarter), and the company’s partnerships with leading organizations like Pareteum, billions of people in emerging markets will be able to break out of the poverty cycle their families have been living in for years.
Airfox’s mission is to provide emerging markets with access to capital and financial services. Through a mobile app, unbanked and underbanked consumers are able to make everyday purchases using their smartphone. Airfox is also building a peer-to-peer network that will connect lenders around the world to borrowers in developing countries using AirTokens (AIR), an ERC-20 token built on top of the Ethereum blockchain. Airfox has offices in Boston, São Paulo, and San Francisco. For more information, visit www.airfox.io.
The mission of Pareteum Corporation (NYSE American: TEUM) is to connect “every person and everything”. Organizations use Pareteum to energize their growth and profitability through cloud communication services and complete turnkey solutions featuring relevant content, applications, and connectivity worldwide. Our platform services partners (technologies integrated into our cloud) include: HPE, IBM, Sonus, Oracle, Microsoft, and other world class technology providers. All of the relevant customer acquired value is derived from Pareteum’s award winning software, developed and enhanced for many years. By harnessing the value of communications, Pareteum serves retail, enterprise and IoT customers. Pareteum currently has offices in New York, Sao Paulo, Madrid, Barcelona, Bahrain and the Netherlands. For more information please visit: www.pareteum.com.