08 July 2019

World Token Issuing Alliance (WTIA) Partners with MEDSIS’ to Support The Argentinian Trade Union, SUPOFEPRA to Provide a New Financial Ecosystem Built on Block Chain using Stable Coin

Seoul, South Korea — WTIA (The World Token Issuing Alliance) announce a new partnership with Medsis International, a U.S. based Identity management and financial services company. This partnership is responsible for identifying, registering, and banking more than 6.8 million individuals that belong to SUPOFEPRA (a Union dedicated to providing services to individuals in the merchant and trade industry) throughout the country.

This contract with SUPOFEPRA was done with the express intent of using technology to register each union member with biometrics and block chain based ID management. Once Registered, the monthly Union dues and payment services required for the daily operations of each union member would be digitized using a mobile banking platform that would link to a payment card and could be accessible through any of the newly setup biometric portals or participating banks or agencies.

This move to the adaptation of a new digital currency is expected to result in large-scale job creation in Argentina.


From the left side of the photo : VisionTech Lim Hui Jie (SG), WTIA Keun Young Kim (KOREA), Representative of Medsis Dax Cabrera (USA), RijndlPay Mitish (INDIA)

The collaboration on the SUPOFEPRA contract is based on it being one of the first of its kind where a government backed contract will provide those newly banked individuals the tools and access to participate in this proprietary crypto currency (Stable Coin) and global banking platform. “Maxwell”, Medsis’ Cryptocurrency is one area where WTIA plays a significant role in this collaboration. WTIA’s expertise in the field of cryptocurrency and blockchain have positioned them to launch their own, regulated exchange with an ability to lower transactional costs of the merchants, while improving the speed, efficiency and accuracy of transactions. WTIA’s platform also has the ability to complete transactions under 1 second and is able to scale to more than 20,000 transactions per second, which is leaps and bounds ahead of the competition.

WTIA Chairman, Keun Young Kim highlighted the potential impact of this move, "With the issuance of this Stable coin, about 15% of the total population of 45 million people in Argentina will be able to use it conveniently without the need for a physical bank account.”

Dax Cabrera, CEO, Medsis said "We will expand the partnership to Brazil, Chile, Paraguay, Peru, Uruguay, Mexico and other members of Latin American Free Trade Association (LAFTA). It is part of our global vision of SMART JOB CREATION

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About WTIA -
WTIA is a Worldwide Alliance of some of the best projects and use cases powered by blockchain, backed by international investors, stakeholders and advisors with having worldwide business network and being engaged in a lot of valuable projects in accordance with the principles of mutual benefit.

About MEDSIS -
MEDSIS is an Identity Management and Big Data company that is currently working on a project with the Argentinian Labor Union, which has one of the first government blockchain contract formalized for MEDSIS.