SophiaTX’s parent company, Switzerland’s Venaco Group, has secured a deal with South East Asia’s leading outsourcing accountancy services organization, Cheng & Co.

The strategic partnership will see the integration of the SophiaTX proprietary enterprise fintech platform into applications already widely used by the firm in their business-to-business and information technology projects. It will also see both Venaco and Cheng & Co co-operate further through the opening of two-way business and development advisory channels.

This may just be the break that the upstart blockchain has been waiting for: the SophiaTX platform and marketplace has been specifically tailored to extend those traditional applications used by large financial establishments, namely Customer Relationship Management and Enterprise Resource Planning suites.

Chief Executive Officer of Cheng & Co., Tom Wong, had this to say of what the deal means for their growth:

We have found a great partner in Venaco Group and we believe that by integrating our solutions with its innovative technology, we can create an even more compelling end-to-end value proposition for our clients.”

Cheng & Co is one of the largest home-grown accountancy firms in Malaysia, rapidly expanding worldwide through the acquisition of over twenty smaller firms over the last two decades. Considering such growth, other global operations could be watching the adoption of SophiaTX’s blockchain-based enterprise solution closely with an eye to incorporate the technology themselves as a means of competing.

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