TraXion Powers Cooperative’s Blockchain-backed Digital Wallet
Seamanpreneurs Consumers Cooperative (SEACOOP) is TraXion’s first client contract after investing in SeaPay Wallet, a white-labeled “bank-in-wallet” blockchain solution. The agreement was signed during the Seafarers & OFW Business Expo on 23 March 2018 at the SMX Convention Center, MOA Complex in Pasay City, Philippines.
This is a milestone as it is the first client contract signed ahead of TraXion’s token generation event in May 2018.
The SeaPay Wallet will be developed for SEACOOP members and is powered by TraXion. Its blockchain-enabled system gives users a simplified yet secure access to financial services. Traxion tokens will be used for membership, insurance, payments, and investment discounts for seafarers and their families.
The cooperative is composed of Filipino seaman-preneurs and advocates who pool their resources to participate in businesses so as to generate multiple income streams. For the years 2018–2019, SEACOOP is raising P100 million for its Business Portfolio and Investing Plan.
Behind this cooperative is the Seaman Entrepreneurs Advocacy Center Inc., a non-stock, non-profit organization created to educate Filipino seafarers, overseas Filipino workers, and their families on financial literacy, develop their business acumen, and support their quest for entrepreneurship.