Technology company FPT Corporation and financial services firm SBI Holdings Inc have jointly invested $3 million in Vietnamese blockchain startup Utop, local English language daily news outlet Viet Nam News reported on April 19.
FPT Corporation and SBI Holdings Inc have reportedly signed a memorandum of understanding (MoU) to invest $3 million in joint venture Utop, a technology startup based on FPT’s enterprise blockchain platform dubbed akaChain. FPT Chairman Truong Gia Binh said that “the development of Industry 4.0 technologies has created breakthrough opportunities for businesses, mushrooming so many innovative business models. We call it digital transformation.”
SBI has previously invested in a number of ventures in the cryptocurrency sector, including its own exchange Vctrade, alongside a series of investments in businesses developing cryptocurrency infrastructure and services. The most difficult task for Viettel is choosing the most effective blockchain technology that can be applied in daily life,” the company’s deputy general director Ngo Vinh Quy said then.