Shyft, the global blockchain-based network that facilitates the secure sharing of attested and compliant data, has announced the signing of a Letter of Understanding (LOU) with Uulala, a social impact organization that aims to accelerate the financial inclusion of the under-banked. As part of this partnership, Uulala will become a strategic technology integrator on the Shyft Network.
“As we strive to help millions of underserved, underbanked and unbanked communities we partner with like-minded companies with a strong ethos to help those in need. When we look at our partnership with Shyft we are advocates of their strong KYC/AML model and their universal digital ID. The Shyft suite of tools complements our blockchain based credit scoring system as a complete solution for so many migrants and refugees we will be helping” stated Oscar Garcia — CEO of Uulala.
Together, the two are planning to leverage Shyft’s blockchain technology with Uulala’s expertise in consumer acquisition to support and accelerate the financial onboarding of millions of underbanked and unbanked individuals across the Americas. Uulala has created a decentralized peer-to-peer network to load cash into the digital economy. Users can send payments cross borders, pay their bills or top up their cell phone minutes all within the mobile app.
The fintech platform has attracted global partnerships with a number of organizations in order to impact the lives of the underserved, including the likes of Humanity 2.0 and Laudato Si’ Challenge to identify impediments to human progress and work collaboratively across sectors to remove them by sourcing and scaling bold and innovative solutions that are sustainable, empowering and ethical.
This partnership will expand a well-developed Shyft Network ecosystem of partners formed of organizations like Uulala, as well as governments, exchanges and other entities enabling the standardization of regulatory, compliance and due diligence mandates to build towards a more financially-inclusive future for everyone.
Uulala is a minority-owned corporation with the majority of shareholders being first or second generation Latin Americans. Uulala is a mission-driven organization to facilitate and accelerate the financial inclusion of the underbanked and unbanked population across the Americas. Uulala empowers the underbanked communities of the world through by providing financial tools for them to build credit, and elevate out of a cash-only environment.
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