Singapore-based ride-hailing app TADA enters Vietnam

TADA, the blockchain-based ride-hailing app based in Singapore, launched in Vietnam on Monday - less than a week after opening in Cambodia.

Ho Chi Minh City marks the third South-east Asian market for TADA's parent, South Korean startup Mass Vehicle Ledger (MVL), which moved out of East Asia when it entered Singapore in 2018.

The company had earlier said, when it launched the TADA service in Phnom Penh on Jan 16, that Vietnam and Malaysia would be its next ports of call in the region. It also aims to bring Cambodian tuk-tuk drivers on board the platform in February.

Other goals include the launch of a wallet app in the first half of 2019, as well as a rent-a-car and chauffeur service platform and data-sharing partnerships with other companies by year-end, according to the MVL website.

Four-year-old MVL bills TADA as a zero-commission app that uses blockchain technology to store records such as payments and vehicle maintenance. It said that it has had more than 27,000 drivers and 200,000 users in Singapore since launch.