The partnership aims to enable the gradual Web3 integration and onboarding process for the millions of users in the Southeast Asian mobility industry, which MVL meticulously has grown over the past six years. The Web3 integration into the mobility industry, where general people’s lives are closely connected, is expected to significantly contribute to the accelerated adoption of cryptocurrencies in the region.
MVL is a group leading the Web3 transformation of the global mobility industry. For example, TADA, a ride-hailing service app that integrated the Mobility Incentive protocol, is widely used by millions in Southeast Asia, processing hundreds of thousands of trips and daily payment transactions. TADA has secured its position as the second-largest operator in the Singaporean market and further expanded its services to Cambodia, Vietnam, and Thailand.
Furthermore, ONiON Mobility — a manufacturer and seller of electric vehicles and bikes, is expanding its energy infrastructure across Southeast Asia. In acknowledgment of MVL’s tangible business and substantial potential, the company has attracted approximately 34 billion Korean Won in cumulative equity investments from major institutional investors such as ShinHan Bank (Finance) and CTR Group (Mobility).
The MVL Blockchain Protocol operates on a circular economy model, ensuring fair compensation for participants within the mobility ecosystem for their contributions through MVL Tokens. In addition, MVL is working on a real-world asset (RWA) project that provides reasonable vehicle loan products for drivers by leveraging real-world data such as drivers’ expertise and vehicle information, thereby generating additional value for the vehicle assets.
Moreover, MVL is set to implement a Buy & Lock-Up token economy, based on its robust mobility business. This approach aims to directly correlate the growth of the actual mobility business with the appreciation of MVL’s value.
DWF Labs is aligned with MVL’s transformative vision of the new mobility industry, including transparent compensation for mobility ecosystem contributors and maximizing the added value of real vehicles. Through DWF Labs’ extensive resources and network, this strategic partnership aims to grow the MVL ecosystem by enhancing the usability and fluidity of the MVL Token within real-world MVL mobility services.
James, Chief Innovation Officer at MVL Foundation emphasized that “With DWF Labs as a partner, the realization of MVL’s new Web3 mobility ecosystem will experience accelerated development. The collaboration aims to focus on the widespread utilization of MVL Tokens, establishing a systematic link between the growth of the tangible mobility business and MVL ecosystem.”
MVL remains committed to continuous innovation and self-imposed challenges within the mobility sector as one of the biggest industries in the world. Should you wish to find more information about the future potential of MVL’s mobility initiatives, please have a look at the MVL website and Gitbook.
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