TADA, a blockchain-based application by Singapore firm MVL Foundation, was launched in Phnom Penh, Cambodia on Wednesday.
MVL signed a memorandum of understanding with Pi Pay, a digital wallet and lifestyle application based in Cambodia. Pi Pay and Alipay will be integrated onto the TADA application in Cambodia to allow for seamless cashless transactions.
"This collaboration with TADA is another step forward for us as the growth of ride-hailing is encouraging more and more Cambodians to adopt cashless payments in the digital era," said Tomas Pokorny, CEO of Pi Pay.
MVL will also work with TVS Motor Company, a tuk-tuk manufacturer in Cambodia, to allow drivers to buy tuk-tuks to register with TADA. A partnership with Shinhan Bank will give drivers access to loans.
There is also a potential partnership with mobility services firm Global Mobility Services (GMS) for driver training.
TADA is powered by blockchain technology, where key mobility data such as transactions, movements, accidents and maintenance of people and vehicles are recorded and connected in a single MVL ecosystem. The ride-hailing service is present in Singapore, Vietnam and Cambodia with more than 30,000 drivers and 230,000 users.