Singapore – February 13, 2025 – Union Fintech, a Fintech company headquartered in Singapore, today announced the launch of Union Chain, a blockchain platform powered by ZKsync technology and supported by leading regulated exchanges and licensed Real World Assets (RWA) Tokenization platforms in Southeast Asia including Coinhako, Indodax, Coins.ph, Coins.co.th, InvestaX, and IXSwap.
Union Chain is a ZK Chain 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 transact on one chain. 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 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.
ZKsync Technology & The Elastic Network, A New Era For Blockchain Utility
This strategic initiative represents a significant milestone in the evolution of blockchain technology. By integrating Union Chain’s regulated infrastructure with ZKsync’s scalability and security, this initiative is poised to transform the landscapes of both web3 and TradFi, delivering unmatched compliance, reach, and technological sophistication.
Leading regulated crypto exchanges in Southeast Asia choosing to leverage ZKsync technology further demonstrates that the Elastic Network is the key ecosystem for entities looking to tokenize assets. The ZK Stack infrastructure enables financial institutions to tokenize and issue compliant RWAs through the Union Chain. Similarly, by incorporating top regulated exchanges and issuers onto the chain, Union Chain will facilitate the flow of crypto liquidity and yield into TradFi through enhanced distribution, packaging, and fiat capabilities, giving institutions access to lower transaction costs, more sources of liquidity, and higher yields through trusted on/off-ramps.
Wei, Chairman of Union Chain and CEO of Coins.PH, stated:"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, commented, “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.”
Julian, CEO of InvestaX & IX Swap, stated:"Union Chain is delivering what no other protocol has achieved - an institutional-grade RWA Layer 2 on Ethereum, seamlessly connecting millions of crypto users with regulated financial infrastructure. This ecosystem enables fiat-to-stablecoin conversion and direct investment into RWA tokens across six regulated platforms while simultaneously bridging crypto liquidity and yield into TradFi markets. By providing RWAs to crypto exchange users and unlocking new capital flows for traditional finance, Union Chain establishes the full lifecycle for RWA issuance, investment, and trading. With compliance at its core, every partner involved is a licensed entity, ensuring trust and accessibility for both institutional and retail investors."
William, CTO of Indodax, stated:"“Union Chain is a major step forward for Indonesia and Southeast Asia’s digital economy. As part of the founding team, we see a huge opportunity to leverage blockchain technology, DeFi, and tokenization to solve real financial challenges in emerging markets. By enabling secure and transparent RWA-based lending and funding solutions, we are making SME financing more accessible, helping businesses grow and thrive. At the same time, we are revolutionizing remittance services, ensuring faster, more cost-effective, and seamless cross-border transactions. This initiative bridges the gap between traditional finance and digital assets, creating new financial opportunities for millions across Indonesia and Southeast Asia.”
About Union Chain
Union Chain is a groundbreaking Layer 2 blockchain that bridges the worlds of crypto and traditional finance (Tradfi) by uniting top-regulated companies with top Blockchain companies to build, issue, distribute, and transact on one chain. 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.
For more information or media inquiries, please contact: press@unionchain.io
About ZKsync
ZKsync is the pioneering zero-knowledge technology powering the next generation of builders with unlimited scale. Secured by mathematics and designed for native interoperability, ZKsync enables an elastic, ever-expanding network of customizable chains. Deeply rooted in its mission to promote personal freedom for all, ZKsync technology puts digital property within everyone's reach.
For more information about ZKsync, visit http://enterprise.zksync.io.
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