Tintra and The Future of Fintech
Fintech company Tintra PLC announced its plans in March to develop the world’s first built for purpose Web 3.0 banking platform to power the metaverse. This platform would be a financial and regulatory infrastructure built upon the technologies and concepts of the upcoming third generation of the internet, where websites and apps will be able to process information in a smart human-like way through technologies. This includes machine learning (ML), Big Data, and decentralised ledger technology (DLT), - making it the first bank capable of functioning operationally within the digital realm of the metaverse. This would enable financial and regulatory communication layers between currently siloed metaverse projects, as well as provide a bridge to off-chain, traditional regulatory, and financial systems. Following this announcement, the firm’s valuation has increased significantly, recently having announced share issue details of the latest receipt of a $2 million private funding round. Thus valuing the company in the private market at least at $100 million and attracting the attention of private investors including large private equity firms.
Tintra’s plans for a “borderless” approach are equally as impressive, with their aims to revolutionise the regulatory environment through end-to-end AI-driven technologies, making access to the global marketplace as seamless in Africa, Latin America or Asia as it is in Europe or the United States, democratising payments for emerging market economies. The fast growing firm has recently been granted approval to start trading in Mauritius, marking the beginning of its expansion across Africa. In delivering a decentralised technology platform, that democratises finance across the world, Tintra makes their work in the metaverse not only interesting for its implications within fintech, but also for its impacts on emerging market development. Utilising AI to remove human prejudice against emerging markets is certainly something that also seems to have caught the attention of the fintech world, with many eager to see its implementation.
Metaverse investments are still fairly novel, meaning that precise predictions on them at this stage is difficult. On Meta’s Q1 2022 earnings call CEO Mark Zuckerberg told shareholders that the company’s steep investments in XR and metaverse technologies should exponentially flourish within the next decade. This is naturally explained by the metaverse’s inevitable long term trajectory. Therefore, it will be compelling to see with time Tintra’s trailblazing plan for strategic growth and its breakthrough in finance, technology, and regulation.
By June-Seo Chung