Zeebu, the Web3 Neobank, Processes Over $1 Billion in Invoice Settlements

Zeebu, the Web3 Neobank tailor-made for the telecom carrier industry, announced processing over $1 billion in invoice settlement on its platform. The platform's journey to this milestone has been marked by relentless innovation at the crossroads of blockchain technology and financial services, redefining the settlement processes in the telecom sector.

Coming on the heels of its successful alpha trials, which saw half a billion dollars processed in transactions, and the launch of its PSP version 4.0 product update featuring governance enhancements and new platform capabilities, Zeebu has demonstrated remarkable growth and scalability.

In just seven months following the debut of its on-chain settlement platform, Zeebu swiftly advanced from settling nearly 5,000 invoices totaling over $500 million to surpassing the $1 billion threshold, marking a new era of scalability and efficiency for the platform.

As a global frontrunner in blockchain-based telecom settlements, Zeebu has garnered significant attention for its instant payment and settlement solution, which addresses the telecom carrier industry's need for seamless settlement experiences and drives the adoption of blockchain technology for real-world applications.

Zeebu's innovative platform has transformed the settlement process for telecom merchants and carriers, reducing invoice settlement times from 7-15 days to a mere 3-7 minutes. This efficiency leap is achieved through the elimination of intermediaries and the adoption of smart contract technology for invoice automation.

At the core of Zeebu's offerings is the ZBU Token, a strategic tool designed to enable global transactions and introduce a loyalty program that rewards ecosystem participants for every transaction. This tokenization strategy has effectively tackled common hurdles such as high transaction fees, remittance delays, and the complexities of currency conversion.

"The telecom industry's embrace of blockchain settlements underscores the strength of our product offerings. Our commitment to building robust and adaptable financial solutions positions us perfectly to capitalize on this growing market opportunity," explained Keshav Pandya, Zeebu’s Co-Founder and COO.

With hundreds of telecom carriers and businesses now leveraging Zeebu's network, the platform is set for continued growth and deeper market penetration. Zeebu's vision for the future includes expanding its adoption, enhancing its ecosystem services, and transitioning towards a decentralized, community-governed payment ecosystem.

“Zeebu is a trailblazer in rejuvenating the telecom industry's settlement layer, fulfilling the market's demand for faster access to funds. Our partnership with Zeebu positions us at the forefront of adopting blockchain-powered, efficient payment and settlement solutions. This translates to streamlining our finance operations and allowing us to focus on growth and expansion,” said Jernej Kenda, CEO of Novatel, a proud Zeebu platform partner.

Raj Brahmbhatt, Founder and CEO of Zeebu, reflected on the achievement, stating, “The increasing interest from telecom businesses in blockchain-based settlements affirms our expertise and commitment to delivering exceptional user experiences and customized financial solutions. We are well-prepared to cater to the expanding demands of this evolving market.”

"The growing traction of blockchain settlements among telecom companies validates our focus on customer experience and innovation in financial solutions. We're excited to leverage our expertise to address the needs of this dynamic market," said Raghav Hunasgi, Zeebu’s Co-Founder and CMO.

As Zeebu celebrates this significant milestone, it also looks ahead to a promising 2024, with plans to further extend its platform capabilities, add new streams of value creation, and evolve into a leading decentralized payment ecosystem for the telecom industry.

For more information about Zeebu and its innovative platform, visit https://www.zeebu.com/.

About Zeebu

Zeebu is a cutting-edge payments and settlement platform designed for the telecom carrier industry, leveraging blockchain technology to enable integrated finance solutions.

By creating a decentralized and transparent ecosystem for voice traffic exchange, Zeebu addresses the traditional challenges of inefficiencies, opaqueness, and trust issues in the telecom wholesale voice industry.

With its rapid settlement times, elimination of intermediaries, and loyalty token rewards, Zeebu is setting new standards for efficiency, cost-effectiveness, and transparency in telecom settlements.

You can learn more about Zeebu by reading our Whitepaper, available here.