Shyft Network
Published in

Shyft Network

Shyft, Uulala and KABN announce blockchain POC to facilitate the onboarding of the global unbanked community

Barbados / Mexico / Gibraltar May 13, 2019 Shyft Network Inc. (Shyft), the credentials verification network that provides a protocol for instant trust generation and portability, today announced that it has partnered with financial service companies KABN Network KABN (Gibraltar) Limited (KABN) and Uulala Inc. (Uulala) to build a proof-of-concept (POC) for onboarding the unbanked community through state of the art digital channels with a goal of efficient financial inclusion.

This first-of-its-kind POC will be initially launched as a pilot in Mexico, for the unbanked community. Traditionally excluded from emerging markets due to non-existing credit histories or bank accounts, these individuals will be provided with a comprehensive, verified identity, financial services, and digital currency solutions.

Shyft, KABN, and Uulala will act in concert with each other, allowing the free flow of technology and complementary services which will be available via their various platforms. The onboarding flow for clients is done through the Uulala mobile application providing the unbanked access to financial services including building an international blockchain based credit profile to qualify for microfinancing. KABN will be leveraging their proprietary biometric, blockchain based, , identity verification and digital currencies-to-fiat Visa card transaction program services while using Shyft’s blockchain protocol for scalable and secure data sharing and its attestation layer for credentials validation.

“Shyft is being built and designed around addressing real needs and problems. For us, it’s important to keep a user-centric privacy-focused approach to build better standards for digital identity and we see this POC as the first step towards building a more inclusive financial future for all” says Bruce Silcoff, CEO of Shyft International.

For more information, please contact:

For Shyft: Bruce Silcoff, CEO

For Uulala: Matthew Loughran, CMO

For KABN: Ben Kessler, CEO

About Shyft Network

Shyft is building a general purpose proof of sender protocol for instant trust generation and portability, for any definition of a sender, designed to integrate across organizations and governments with expertise in identity verification. Shyft is a credentials verification platform. Learn more at

About Uulala

Focused on empowering the underbanked community by helping them save money, control their finances across borders and build a blockchain based credit score. Our mission is focused on bringing the cash-based community into the formal economy through our fintech solution. Our proprietary financial services platform empowers individuals through financial inclusion. Learn more at

About KABN

KABN, an integrated financial service platform offering neo banking type solutions, has received approval by Visa to launch its crypto-linked card and banking wallet program. KABN has partnered with Transact Payments Ltd, a European e-money institution and Principal Member of Visa, global processor GPS and platform technology provider Pannovate to launch the program in the UK and subsequently the EEA in the 2nd quarter of the year. Learn more at

Branded the Pegasus Flyte Visa card, the KABN card program offers an “on/off ramp” conversion process for a variety of cryptocurrencies to fiat together with multi-currency fiat transactions. Cardholders will be able to use their Pegasus Flyte Visa cards to spend in-store, online, and at ATMs wherever Visa is accepted globally.

The Pegasus Flyte program will also offer a robust loyalty and customer engagement platform. The anchor of the program is KABN ID, a Blockchain and biometrically-based, “Always On” validation and verification process. This patent-pending, GDPR compliant process allows for efficient and frictionless customer acquisition and onboarding.

Except for historical matters contained herein, statements made in this press release are forward-looking statements. Without limiting the generality of the foregoing, words such as “may”, “will”, “to”, “plan”, “expect”, “believe”, “anticipate”, “intend”, “could”, “would”, “estimate”, or “continue”, or the negative other variations thereof or comparable terminology are intended to identify forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause each company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Also, forward-looking statements represent each company’s management’s beliefs and assumptions only as of the date hereof. Except as required by law, the companies named herein assume no obligation to update these forward-looking statements publicly, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.



News and insights on powering trust on the blockchain and economies of trust

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store