Zeebu, a blockchain-based settlement platform, has unveiled the world’s first loyalty utility token for the Telecom Carrier Industry. The Zeebu token aims to revolutionize the global telecom carrier market by transforming cross-border transactions and improving profitability in the industry.
Telecom Carriers work alongside large telecom operators to provide global connectivity. Despite working with global partners to settle high transaction volume, the industry still has several other inefficiencies. These include remittance delays, forex crunches, the volatility of local currency against the USD, low margins, and high transaction fees.
To address these challenges, Zeebu has launched a loyalty utility token that offers a rewards program to both merchants and customers. The Zeebu token aims to reduce transaction costs, ensure faster settlements, and improve margins for telecom carriers. During the launch, the Founder and CEO of Zeebu, Raj Brahmbhatt, said:
“I am excited to work on a project that aims to solve significant inefficiencies in the telecom carrier industry by using the Zeebu token’s loyalty rewards program in order to improve margin retention and operational inefficiencies. This will disrupt the instant settlements by enabling anytime, anywhere transactions.”
Moreover, Zeebu intends to partner with over 100 carriers, leveraging its access and network. Co-founder and COO of Zeebu, Keshav Pandya, added, “Zeebu’s blockchain-based settlement platform and loyalty utility tokens are designed to bolster the profitability of the legacy telecom carrier industry, which comprises over 6000 players in a $120+ billion market.”
The Zeebu’s loyalty and utility token went live on the Ethereum mainnet on April 22, 2023, and will be completely unveiled at the ITW conference on May 14. Zeebu is currently accepting merchant onboarding requests through their waitlist, exclusively catering to players in the telecom carrier industry.
Nonetheless, Zeebu aims to extend its groundbreaking solutions to other B2B industries facing similar challenges with international remittance and lean margins.