SpaceChain and SpaceBelt Team Up to Foster Digital Asset Storage and Payment Services Growth in the New Space Economy

Partnership aimed at developing uniquely combined space-based services that will broaden customer base and address the market need for ultra-secure digital asset storage and payment services

SINGAPORE, Sept. 27, 2022 /PRNewswire/ -- SpaceChain today announced the signing of a Memorandum of Understanding (MOU) with SpaceBelt to collaborate and jointly enable services that combine SpaceBelt's patented space-based cloud data storage capabilities with SpaceChain's blockchain-integrated satellite infrastructure and open source standard, fostering a robust market for space-based digital asset storage and payment services in the New Space Economy.

Under the agreement, SpaceBelt will offer SpaceBelt™ Data Security as a Service (DSaaS), a space-based service that incorporates multi-tenant, secure cloud storage with global managed network services, to support SpaceChain's vision for developing space-based digital asset management with data storage capacity and ultra-secure global managed network services.

In addition, both companies will collaborate to integrate, launch and operate constellations of satellites embedded with SpaceChain Operating System (SpaceChain OS) to enable a multi-tenant platform-as-a-service (PaaS) for supporting mobile and enterprise applications developed by third parties.

The partnership is aimed at developing uniquely combined space-based services that will broaden the customer base and address the market need for ultra-secure digital asset storage and payment services.

"The collaboration between SpaceChain and SpaceBelt is a best-of-breed partnership that will propel both companies to the next chapter of growth and excellence," said Evan Slattery, Business Development Manager at SpaceChain. "We look forward to accelerating our joint services and formulating go-to-market strategies to help democratize access to space and shape a global environment of innovation and connectivity."

"Working in partnership with SpaceChain will enable SpaceBelt to bring its deep capability in space-based cloud storage and managed network services to more innovators and leading enterprises looking to take advantage of the promises of the space economy," said Kok Rie Ooi, Managing Director of SpaceBelt. "Both companies will integrate resources and know-how across commercial and technical fields to create truly unique offerings that will accelerate growth and development in the space industry."

According to Space Foundation, the space economy grew at the fastest annual rate in years since 2014 to reach US$469 billion in 2021. Total output by the world's governments and corporations in the realm of rockets, satellites and more expanded by 9 percent year-over-year. The space economy is expected to weather market volatility and macroeconomic pressures to continue growing this year.

About SpaceChain

Founded in late 2017, SpaceChain established the first satellite platform to provide secure custody, transact digital assets, deploy smart contracts, and facilitate Decentralized Finance Infrastructure ("DFI") on space nodes. SpaceChain aims to bring advanced security and global access, integrating software defined payloads to progress blockchain applications in orbit. SpaceChain currently has live network nodes operating on satellites and aboard the International Space Station (ISS). SpaceChain has demonstrated commercial and deployment success for delivering space missions and is now ready to capture high growth and high value. For more information, visit www.spacechain.com.

About SpaceBelt

SpaceBelt Data Security as a Service (DSaaS) is the world's first planned cloud infrastructure and data storage service based in space. SpaceBelt seeks to revolutionize the way data can be securely transferred and stored by using its patented SpaceBelt architecture utilizing GEO satellites between the customer's enterprise locations and the SpaceBelt LEO network. SpaceBelt's space infrastructure is totally separated from the terrestrial landlines and internet. This provides the strongest security possible by offering global isolation from the terrestrial infrastructure of an enterprise or government organization's high value, highly sensitive, mission-critical data assets. Visit www.spacebelt.com.

SOURCE SpaceChain