Tukki App launches in Sri Lanka: New era of financial inclusion

Friday, 6 December 2024 00:06 - - {{hitsCtrl.values.hits}}

User indicating the ease of transactions

SWIC Digital Gateway AG, a Swiss blockchain-based start-up founded by serial entrepreneur Stefan Bucher, announces the launch of its innovative financial app, Tukki, in Sri Lanka. As the first B2C product from SWIC Digital, Tukki is a user-friendly mobile app designed to provide long-term investment and savings opportunities to retail investors in emerging markets. Tukki aims to make a diverse basket of well-regulated financial instruments available to retail investors in emerging markets.

Bridging the gap between traditional and digital finance and with over 1 billion potential investors who have limited access to banking and professional investment opportunities, Tukki aims to democratise finance by offering secure, professional investment options accessible to everyone.

Retail investors in emerging markets often face high minimum investment amounts, expensive transaction fees, and limited access to financial products in stable currencies. Tukki addresses these issues by offering an easy automated onboarding process, charging no additional transaction fees, allowing the investor to make small investments, and providing access to professionally-managed investment portfolios through a blockchain –based platform. Users can invest directly in financial assets or create savings goals with a risk-adjusted investment strategy, making investing simple and secure.

Solving challenges for fund providers:

On the fund provider side, high client acquisition costs and limited geographical distribution often hinder access to small investors. Tukki offers a solution by reducing acquisition costs and providing direct contact with end clients through its platform. Fund providers can now reach new markets and investor types, including younger, well-educated customers, without the traditional high costs and slow processes associated with onboarding new clients.

SWIC Digital has partnered with several industry leaders to support the launch and operation of Tukki, including CoreLedger AG, one of the biggest blockchain technology providers in Switzerland; ACP Asset Management, a prominent asset management firm in Sri Lanka; Seylan Bank; and KPMG.

Market potential and pilot country:

Sri Lanka, with a significant portion of its population unbanked and rapidly increasing adoption of digital transactions, serves as the perfect pilot country for Tukki. The Central Bank of Sri Lanka has granted SWIC the necessary regulatory approval, ensuring compliance and security for users.

With Tukki, SWIC Digital Gateway AG aims to bridge the gap between traditional and digital finance, promoting financial inclusion and economic development. By providing accessible and affordable financial services, Tukki empowers individuals to participate in the formal economy, fostering a more equitable and prosperous

society.

As Tukki launches in Sri Lanka, SWIC Digital Gateway AG is preparing to expand to other emerging markets, aiming to become the go-to platform for savings and investment in these regions with its mission to transform global finance.

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