Bezant, a blockchain based solutions company, is partnering with Korea’s largest prepaid card distributor, Korea Prepaid Card to tap into the projected $3 trillion prepaid card industry.
According to an official statement from the Bezant team, the partnership is set to enhance the capabilities of prepaid cards products and services by integrating blockchain based solutions. The two companies are aiming at the $10 billion prepaid card market in Korea with plans to extend globally on the way.
Since completing the fastest initial coin offering in Asia – raising $126 million in less than an hour – Bezant has witnessed gradual growth in number of partners and value. The company recently announced in its Q2 2019 report the launch of a peer to peer lending system and the listing of its BZNT token on Binance decentralized exchange (DEX).
In April this year, the project became the first Blockchain as a Service (BaaS) to launch on the Hyperledger Fabric blockchain platform. Since, the company has partnered with a number of South Korean and Thailand firms including Hanjudo, a South Korean fintech, Thailand’s Nova Learning, Chequer, a South Korean database management company, and Transwiz, a Thai peer-to-peer lender.
The BZNT token is however struggling to find its feet as it reached its lowest price since the ICO on August 13th trading at $0.012 USD. The token ranks 316th on the Coinmarketcap listings with a total market cap of $8.3 million USD.
Korea Prepaid Card is the largest shareholder in the market providing fully integrated solutions in “issuing prepaid cards, distribute/top up, and offer payments/settlement” for various payment methods. Furthermore, the company provides services for some of the top companies in the world including the distribution of Google Play gift cards in Korea.
In an announcement on August 9, the company announced the launch 2nd Airdrop event that will distribute 1,000,000 BZNT tokens to enhance community participation.