Dubai, January 9, 2024 – Zeebu, the Web3 Neobank for telecoms, is delighted to share the successful global trial of its platform. This trial involved more than 80 telecom businesses worldwide and surpassed half a billion in settlement volume, marking a significant milestone in the telecom carrier industry. While this achievement represents a small step as an internal alpha test, it also serves as a significant enabler for the future utility of the platform.
The trial witnessed payments between all continents, settled within a mere 3–7 minutes. This major advancement extends the speed and transparency of Zeebu’s unified payment interface deeper into the telecom settlement process, bringing Zeebu one step closer to reaching a wider set of ultimate beneficiaries around the world.
Zeebu has crafted a platform that leverages the power of blockchain technology and smart contracts. With its unified payments infrastructure and the ZBU loyalty token, Zeebu’s platform can bypass intermediaries and navigate the complexities that often hamper traditional cross-border infrastructure.
Currently, over 320 users are utilizing Zeebu’s real-time settlement services. The advantages of Zeebu’s platform encompass seamless invoicing, real-time payments, 24×7 availability, immediate access to funds, immutable transaction records, real-time tracking, and reporting of all settlements and balances. These features can aid in streamlining business operations, enhancing transparency, and improving financial management.
The results of the internal Alpha test include the following findings:
- Transactions on the Zeebu platform in the last month totaled $193 Million, with nearly 2089 invoices settled.
- Invoices from across the globe, without any geographical and regulatory constraints, were settled in minutes, a process that previously took up to 15 days.
- Telecom businesses observed notable changes and savings in time and expenditure, which used to be part of their traditional settlement process.
- The challenges of dispute resolution were effectively addressed thanks to smart contract automation, eliminating the chances of error from the process.
- The entire settlement of invoices was processed end-to-end within a single interface.
“As telecom carriers join the Zeebu ecosystem, they are experiencing the benefits of real-time payments,” says Raj Brahmbhatt, Founder and CEO of Zeebu. “Surpassing 500 million settlement volume signifies the accelerating growth and demand of Zeebu. It also marks a significant shift in the telecom industry, moving from traditional centralized systems to a more efficient, secure, and transparent decentralized model.” Building on this, Keshav Pandya, the Co-founder and COO of Zeebu, added, “We are witnessing a greater openness in industries to embrace innovative technologies that can enhance their business operations and drive growth”
The successful trial and promising results underscore Zeebu’s commitment to innovation and vision to redefine telecom through blockchain. This marks a significant stride in Zeebu’s journey, acting as a catalyst for the prospective functionality of the platform.
Zeebu is a Web3 Neobank dedicated to transforming the settlement experience for telecom businesses. With its ability to process transactions swiftly and securely worldwide, it is revolutionizing the way telecom carriers transact. Zeebu introduces a unified telecom payment infrastructure for seamless cross-border transactions and aims to address the prevalent challenges in the telecom’s finance layer, particularly in invoice settlements. Zeebu is committed to enhancing efficiency, promoting transparency, and fostering trust. The $ZBU loyalty token is designed to facilitate seamless global transactions and rewards users for successful settlements, incentivizing participation in the Zeebu ecosystem.
By upholding the fundamental ethos of decentralization, Zeebu is carving out the future of B2B dealings, driven by the $ZBU Loyalty Token.