Zeebu is a neobank focused on providing a blockchain-based platform that enables telecom carriers to settle invoices and remittances. Leveraging cryptocurrency, we spoke to Dr. Raghavendra Hunasagi during the World Blockchain Summit in Dubai.
Zeebu’s solution addresses the significant challenges that telecom carriers face when using traditional banking and wire transfers for settlements, which can result in delays of up to 72 hours. To improve this process, Zeebu offers a platform that leverages cryptocurrency, with an initial focus on USDT, allowing for near-instant, on-chain settlements. This means that telecom carriers can easily transact with each other, significantly reducing settlement times and simplifying fund transfers.
Zeebu’s solution has already gained traction in the market, with 100 telecom carriers onboarded and commitments for transactions worth $1.8billion.
Zeebu’s success has not gone unnoticed in the investment community, as the company has secured $25million from anchor investor Bunkai Ventures, led by HPs Cary Ox, and has a drawdown facility with LDA Capital for $400million. Additionally, Zeebu is in the process of raising another $40million in funding to further fuel its growth.
Setting itself apart from the crowd
Despite the saturation of the financial technology market, Dr. Hunasagi believes that opportunities for technological disruption are still abundant. He emphasises the importance of staying focused on Zeebu’s core mission as a neobank for telecom carriers, distinguishing the company from broader neobanks and international remittance services. The telecom carrier industry, with annual settlements of $120billion in a $1.2trillion industry, presents a substantial growth opportunity for Zeebu.
What sets Zeebu apart is its deflationary token model, where each transaction results in the burning of tokens, gradually reducing the token supply. With a finite supply of five billion tokens and no plans for further minting, this model creates a unique and sustainable approach to serving the telecom carrier industry.
Dr. Hunasagi’s journey, from successful startups to academia and now the innovative world of Zeebu, underscores his commitment to making a lasting impact on the financial and telecommunications sectors. His vision for the future of Zeebu and the telecom carrier industry is built on a foundation of technological disruption and a unique token model. This sets the stage for promising growth and development in the years to come.
