Union Chain is a new blockchain platform that makes online transactions faster, cheaper, and secure. This was recently launched by Union Fintech, a fintech company headquartered in Singapore, and the technology itself is powered by ZKsync.
The project is supported by leading regulated crypto exchanges and licensed Real World Assets (RWA) Tokenization platforms in Southeast Asia including Coins.ph, Coinhako, Indodax, Coins.co.th, InvestaX, and IXSwap.
Union Chain is designed to bridge the worlds of Crypto and Traditional Finance (TradFi) by uniting top centralized crypto exchanges (CEXs) and licensed real-world asset tokenization leaders with top Blockchain technology to build, issue, distribute, and complete transactions on one blockchain. This opens up new markets and use cases for digital assets and tokenized financial products to cater to crypto natives and the next billion crypto users.
Union Chain will be led by Wei Zhou, Chairman of Union Chain, CEO of Coins.ph, Co-Founder and CEO of Coins.xyz, and former CFO of Binance, and Junde Yu as CEO, formerly VP at Cobo VP, and MD/GM at Data.ai.
Union Chain: Bridging TradFi and Crypto
Union Chain was created to bridge TradFi and Crypto, solving fragmentation, regulatory hurdles, and interoperability issues. Leveraging regional licenses, on/off-ramps, local stablecoins, and the reach of exchanges, Union offers toolkits for licensing, fiat integration, and distribution, enabling seamless interaction between the two worlds. This opens up markets and use cases between TradFi and Crypto.
Key verticals of Union Chain’s testnet would include:
RWA: By leveraging the licenses and expertise of InvestaX (CMS, RMO) and the regulated CEXs, Union goes beyond the typical tokenization platform to provide a full stack of RWA solutions with services across structuring, issuance, tokenization, distribution, and fiat on/off ramps to ensure a seamless experience for TradFi companies bridging into Crypto.
Payments/Remittance: Providing access to the on/off-ramps and local stablecoins of Indodax (Indonesia), Coins.ph (Philippines), Coinhako (Singapore), and Coins.th (Thailand), Union Chain offers faster, cost-effective remittance solutions tailored for Southeast Asia.
Regional enterprise adoption: Equipped with regional licenses, expertise, user access, and support teams, Union is best positioned to provide regulated blockchain solutions with locally licensed and compliant frameworks to scale adoption for the SEA market and, subsequently, the broader Asian market.
Broad Market Access: Developers on Union gain access to >20M KYC’ed users in a total addressable market of 600M users. Union is also planning to work with additional CEXs in the future.
Wei, Chairman of Union Chain and CEO of Coins.PH, said: "We are excited to work with ZKsync’s cutting-edge ZK technology and the top-regulated exchanges in Asia to bring crypto liquidity and innovation to the world, setting new standards for compliance and user safety.
Alex Gluchowski, Co-Inventor of ZKsync, said: “The integration of ZKsync with Union Chain marks a pivotal moment in the evolution of blockchain technology. Combining ZKsync’s scalability and security with Union Chain’s regulated infrastructure is another large step in bridging the gap between crypto and traditional finance while also shaping the future of global finance. This initiative is a testament to the potential of blockchain to drive innovation, unlock new opportunities, and serve millions of users worldwide. ZKsync has established itself as one of the premier infrastructures for those looking to tokenize assets, and the launch of Union Chain is a further testament to that fact.”