Vietnam tech company Society Pass acquires Singapore-based MVNO Gorilla Networks 

VIETNAM tech company Society Pass (SoPa) has acquired Gorilla Networks, a Singapore-based mobile virtual network operator (MVNO).

SoPa plans to incorporate Gorilla Networks’ blockchain and Web3 technology onto the rest of its ecosystem, and expects the latter’s technology can help drive customer retention for merchants and create innovative revenue models, it said in a statement on Monday (Jun 6).

Gorilla Networks is a Web3-enabled MVNO that offers contract-free, on-demand mobile service as non-fungible tokens (NFTs). Its users can convert unused mobile data into digital assets through its proprietary blockchain-based SwitchBack feature, which can then be redeemed for e-vouchers to offset future bills or for other value-added services.

SoPa founder, chairman and chief executive Dennis Nguyen said that the group will leverage Gorilla Networks’ technology to “enable the new meta-economy” for its portfolio companies, which includes Vietnamese luxury e-commerce platform Leflair and Vietnamese online restaurant delivery service Handycart.

Gorilla Networks has network coverage in over 160 countries and offers mobile communication services such as local calls, international roaming, data, and SMS texting.

Currently marketing to the region’s business and leisure travellers, Gorilla Networks aims to expand its MVNO services offering to Vietnam, Thailand and Malaysia over the next 12 months.

Founder and chief executive officer of Gorilla Networks Xanne Leo said that Gorilla is currently transitioning existing Web2 telco services onto the Web3 economy by tokenising mobile data as digital assets.

The MVNO had previously digitised eSIMS, data plans, and mobile numbers as NFTs, which influenced how their users purchase, interact and experience mobile services.

“By joining forces with SoPa’s extensive ecosystem and large user base in South-east Asia, we are thrilled about the combined marketing capabilities we will now bring collectively to our partners and customers,” Leo said.

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SoPa operates multiple e-commerce platforms across its key markets in South-east Asia, with plans to launch a loyalty platform in coming months. It also builds proprietary IT architecture to support its consumers, merchants and acquisitions, such as a specialised point-of-sale technology solution for small and medium-sized enterprises.