WOLOT Announces Benefit.X as New Addition to the TOOL Ecosystem

SINGAPORE, April 1, 2021 /PRNewswire/ -- Singapore WOLOT Foundation today announced a strategic partnership with Benefit.X as a new addition to the TOOL ecosystem that is developing international services based on blockchain and exploring expansion across Asia countries. Backed by Singapore WOLOT Foundation, TOOL is a matured ecosystem well-established in the China market and is now looking into expansion across Asia countries to create more use cases and to realize the potential of the OLO token. Benefit.X specializes in digitalizing human capital management and has been providing payroll and insurance services serving more than 8,000 registered active companies and 50,000 individuals across Southeast Asia.

"Benefit.X's decision to join the WOLOT ecosystem signifies the importance of the TOOL blockchain platform in helping SMEs worldwide adopt blockchain technology to break through existing barriers and expand into new markets. We are excited to partner with Benefit.X to bring better services to their global customers," said Ben Chan, Chairman of Singapore WOLOT Foundation.

"Joining WOLOT ecosystem is a huge boost to our customers and partners as we will be able to use TOOL blockchain platform for our mutual benefits. As Benefit.X expands across the regions, our partnership with WOLOT will continue to deepen the use of blockchain technologies in our solutions," said Keith Lim, CEO of Benefit.X.

This new addition of blockchain projects to the ecosystem signals the beginning of revolutionizing how SMEs go-digital not just in Singapore, but also regionally across Asia countries by riding the hot trend of Decentralized Finance (DeFi) as the new digital economy.

Beginning of 2021, Bitcoin has become one of the most popular means storing value, a.k.a digital-gold. With TOOL's upcoming official launch this year in the Asia markets, users can expect the release of the CBS mobile application available in both Android and iOS. CBS (Community Business System) allows SMEs to accurately attract and convert customers at the lowest possible cost, while being able to utilize data analytic systems to constantly improve their business and product offerings. Moving forward, Singapore WOLOT Foundation welcomes more blockchain-related projects to collaborate and come on board to join the ecosystem to incubate and grow while contributing value at both users and businesses level.

About Singapore WOLOT Foundation
WOLOT Foundation is a non-profit organization that creates a self-governed business ecosystem to help all Small and Medium Enterprises (SMEs) worldwide to achieve a low-cost effective means of digital upgrading and user acquisition. Since then, it has launched multiple projects (such as IBGS, BDE, OLO-Swap, and CBS) enhancing and providing benefits to both businesses and users within the ecosystem. For more information, please visit: http://www.wolot.io/#/main_en  

About Benefit.X
Benefit.X is a digital human capital management platform with full HRM features that helps companies to automate HR functions while offering an employee wallet that gives employees control of their benefits management, as well as personal insurance. For more information, please visit: www.benefitx.exchange

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Ben Chan, Chairman of Singapore WOLOT Foundation (right), Keith Lim, CEO of Benefit.X (left).
MOU Signing Ceremony between Singapore WOLOT Foundation and Benefit.X.

SOURCE Singapore WOLOT Foundation, Benefit.X