Far EasTone, Foxconn Ventures, and SoftBank Invest in TBCASoft, a Blockchain Technology Company, to Accelerate Product and Business Development

Barcelona and Sunnyvale, February 22, 2019 – TBCASoft, Inc. (“TBCASoft”), the leading cross-carrier blockchain technology company building the world’s largest telecom blockchain platform, today announced the completion of its Series A financing round with participation from Far EasTone Telecommunications Co., Ltd. (“Far EasTone”), Foxconn Ventures (“Foxconn”), and SoftBank Corp. (“SoftBank”). This investment will enable TBCASoft to accelerate product development and expand its global business development efforts.

The Series A financing follows two strong years for TBCASoft, which was founded in September 2016 and recently launched two foundation application frameworks—CCIS and CCPS—running on its Cross-Carrier Blockchain Platform. The Cross-Carrier Identification System (CCIS) enables identification and authentication services, while the Cross-Carrier Payment System (CCPS) supports transactions such as mobile wallet payments, remittances, and digital account top-ups. These services are offered through the Carrier Blockchain Study Group (“CBSG”) Consortium, the world’s leading telecom blockchain consortium.

Ling Wu, Founder and CEO of TBCASoft and Co-Chairman of the CBSG Consortium, said:

“TBCASoft aims to build a high-performance, secure Cross-Carrier Blockchain Platform and value-added services together with global telecom operators. With the strategic support from Far EasTone, Foxconn Ventures, and SoftBank as our Series A investors, TBCASoft is not only funded to deliver its services and expand globally, but also to accelerate the growth of its IP portfolio.”

The CBSG Consortium is the leading telecom blockchain consortium. It was launched in September 2017 to jointly develop an innovative blockchain platform designed specifically for telecom carriers, led by U.S.-based TBCASoft and Japan-based SoftBank, with Sprint Corp. (U.S.) and Far EasTone (Taiwan) as founding members. CBSG aims to provide telecom members and their customers with services such as secure global digital payments, clearing and settlement, personal authentication, IoT applications, and more—leveraging blockchain technology.

Chee Ching, President of Far EasTone, said:

“Far EasTone has proactively worked to advance new technologies and innovations. As a founding member of the CBSG Consortium, we are proud to help build the world’s leading cross-carrier blockchain platform. Investing in TBCASoft will further accelerate the development of the cross-carrier blockchain ecosystem, enabling services such as secure clearing and settlement, personal authentication, IoT applications, and more. This platform will enable payment and data exchange to be more precise, safe, and efficient in virtual environments.”

Fang-Ming Lu, Corporate Executive Vice President of Hon Hai Precision Ind. Co., Ltd., commented:

“Foxconn Technology Group will collaborate with TBCASoft to explore blockchain technology and applications through this investment. Blockchain’s decentralized nature, combined with its potential integration into IoT, telecom services, and cybersecurity, can provide alternative and improved solutions for our customers.”

Ken Miyauchi, President and CEO of SoftBank Corp., added:

“Blockchain technology is disruptive and will enable fundamental breakthroughs across many dimensions of the telecom industry. SoftBank recognizes the importance of the Cross-Carrier Blockchain Platform vision, and we are pleased to see its strong progress.”