Blockchain ride-hailing app Tada to integrate with Binance

Singapore-based Mass Vehicle Ledger (MVL) Foundation, the company behind the blockchain-based ride-hailing app Tada, has inked a partnership with global cryptocurrency exchange Binance.

MVL founder and CEO Kay Woo outside the startup’s office in Kampong Ubi, Singapore / Photo credit: MVL

With the tie-up, MVL will apply Binance’s BEP2 standard on the exchange’s mainnet, Binance Chain, making MVL tokens viable to launch on the blockchain. Some of the current MVL tokens in circulation, which are based on Ethereum’s ERC-20 standard, and existing MVL tokens used for Tada incentives are set to be swapped with MVL-BEP2 tokens.

Both companies also agreed to connect Trust Wallet, Binance’s mobile wallet, to Tada’s platform to support the use of MVL-BEP2 tokens and Binance’s own tokens for payments. In addition, Tada users will be able to pay and trade MVL tokens via Trust Wallet and Binance’s decentralized exchange once the Binance’s community approves Tada’s listing proposal.

“The integration with Binance Chain is expected to add more vitality to the Tada platform and MVL ecosystem,” said Kay Woo, CEO of MVL.

In May, MVL launched Tada in Phnom Penh City and announced a partnership with Cambodian mobile wallet and payment app Pi Pay to integrate the latter’s services into the Tada app.