Dubai-Based Zeebu Hits $1 Billion in Web3 Settlement Transactions

Dubai-Based Zeebu Hits $1 Billion in Web3 Settlement Transactions

Zeebu, a Dubai-based Web3 payments platform, celebrates surpassing $1 billion in transaction volume within the first quarter, highlighting rapid scalability and efficiency.

This accomplishment highlights Zeebu’s major influence on the sector and sets new standards for productivity and creativity in the telecom space.

Zeebu has shown impressive growth and scalability following the conclusion of its successful alpha trials, in which half a billion dollars worth of transactions were processed, and the release of its PSP version 4.0 product update, which included governance improvements and new platform capabilities.

Zeebu surpasses the $1 billion threshold

The company’s press release stated that in just seven months following the debut of its on-chain settlement platform, Zeebu swiftly advanced from settling nearly 5,000 invoices totaling over $500 million to surpassing the $1 billion threshold, marking a new era of scalability and efficiency for the platform.

With its offering centered around the ZBU token, intended to facilitate international transactions, and offering a loyalty program that rewards ecosystem participants for each transaction, Zeebu, a telecom company with headquarters in Dubai, focuses on the telecom market. Zeebu token was launched in 2023.

Additionally, Keshav Pandya, Zeebu’s co-founder and chief operating officer, said that the telecom industry’s embrace of blockchain settlements underscores the strength of their product offerings. According to him, their commitment to building robust and adaptable financial solutions positions us perfectly to capitalize on this growing market opportunity,” said Keshav Pandya, Zeebu’s co-founder and chief operating officer. 

Zeebu’s network adoption

Hundreds of telecom carriers and companies are currently using Zeebu’s network, so the platform is positioned for future expansion and increased market share. In the future, Zeebu wants to become more widely used, improve its ecosystem services, and move towards a decentralized, community-governed payment ecosystem.

However, Jernej Kenda, CEO of Novatel, a Zeebu platform partner, said 

“Zeebu is a trailblazer in rejuvenating the telecom industry’s settlement layer, fulfilling the market’s demand for faster access to funds. Our partnership with Zeebu positions us at the forefront of adopting blockchain-powered, efficient payment and settlement solutions. This translates to streamlining our finance operations and allowing us to focus on growth and expansion,”

Also, Raj Brahmbhatt, Founder and CEO of Zeebu, pondered the accomplishment and said that they are committed to providing outstanding user experiences and tailored financial solutions, and the growing interest from telecom companies in blockchain-based settlements validates this. He added that they are ready to meet the growing needs of this changing industry.

Furthermore, the co-founder and chief marketing officer of Zeebu, Raghav Hunasgi, stated that the increasing adoption of blockchain settlements by telecommunications companies confirms the value of their emphasis on client satisfaction and financial solution innovation.  He added that they are thrilled to use their experience to meet the needs of this dynamic market.

Looking forward, Zeebu CEO Raj Brahmbhatt was optimistic about the promising year 2024. Intending to become a premier decentralized payment ecosystem for the telecom sector, Zeebu intends to expand the capabilities of its platform and add new avenues for value creation. The platform’s primary focus areas continue to be innovation, customer experience, and meeting the market’s changing demands.

RELATED TOPICS: blockchain, web3, Zeebu
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