Union Fintech’s new project aims to integrate crypto with TradFi
Singapore-headquartered fintech major Union Fintech on Tuesday, 18 February 2025, announced the launch of Union Chain, a blockchain platform powered by ZKsync technology. The company aims to make online transactions faster, cheaper and secure with this solution.
Union Chain unites top centralised crypto exchanges (CEXs) and licenced real-world asset tokenisation leaders with top blockchain technology to build, issue, distribute, and complete transactions on one blockchain. The platform is set to open new markets and use cases for digital assets and tokenised financial products, targeting both crypto enthusiasts and the next generation of users who have not yet tapped into the world of digital finance.
The project is expected to solve what has kept TradFi and crypto apart, including fragmentation, regulatory hurdles, and interoperability issues. By using ZKsync technology, Union Chain facilitates seamless, fast, and cost-effective transactions that work across both CEXs and traditional financial systems, according to the company’s statement. It aims to do so while ensuring that transactions are more secure compared to traditional blockchain solutions. Whereas, integrating various leading CEXs like Coins.ph, Coinhako, Indodax, and Coins.co.th, will help ensure that its users can easily convert and trade their digital assets across various platforms.
Strategic partnerships with CEXs and tokenised platforms across South Asia like Coins.ph, Coinhako, Indodax, Coins.co.th, InvestaX, and IXSwap will help provide the necessary infrastructure and regulatory compliance for Union Chain to operate smoothly in the region.
The platform’s key offerings
By providing on/off-ramps, local stablecoins, and leveraging regional licenses, Union Chain will be offering a comprehensive solution that aims to simplify the process of integrating TradFi with Crypto. This would help create a more accessible and efficient environment for users on both sides of the financial ecosystem.
One of the key features of the project is tokenisation of Real World Assets (RWA). The aim is to ensure a seamless transition for TradFi companies looking to adopt blockchain technology. Another focus is improving payments and remittance services in the region and supporting enterprise adoption across Southeast Asia.
The project will be led by Wei Zhou as the chairman, and Junde Yu as CEO. Wei Zhou is currently the CEO of Coins.ph, and former CFO of Binance. Yu was formerly the vice president at Cobo VP.
