Markets
Treasure Global’s ZCITY will launch its own Virtual Mobile
NEW YORK and KUALA LUMPUR, Malaysia, May 20, 2024 (GLOBE NEWSWIRE) — Treasure Global Inc (NASDAQ: TGL) (“Treasure Global” or the “Company”), a provider of innovative technology solutions, proudly announces a potential strategic collaboration between its subsidiary, ZCITY, and a leading telecommunications company. This partnership aims to introduce an innovative artificial intelligence (“AI”) powered crypto mining service integrated with ZCITY’s new mobile virtual network operator (“MVNO”) offerings, creating a powerful new revenue stream for Treasure Global.
Revolutionizing the Telecom Industry with AI Crypto Mining
In this game-changing collaboration, the leading telecommunications company, leveraging ZCITY’s advanced technology, will support the integration of AI-driven crypto mining capabilities into ZCITY’s MVNO services. This initiative will allow users to explore digital assets in an integrated way while using their mobile services, representing a fusion of telecommunications and blockchain technology. This exclusive white label solution will be branded ZCITY, ensuring a significant market presence and competitive advantage.
Key benefits of collaboration
This partnership opens up a lucrative new revenue stream for Treasure Global, capitalizing on synergies between telecommunications and blockchain technology. Using state-of-the-art AI algorithms, the integrated service optimizes crypto mining processes, providing an efficient and profitable operation for users. By combining the vast international reach of a leading telecommunications company with the growing crypto market, this initiative taps into a huge market opportunity with significant growth potential.
Building Blockchain Success
Treasure Global’s expansion into MVNO services with AI-powered crypto mining builds on the company’s recent win as an exclusive AI Blockchain wallet partner on Telegram, marking a significant milestone in the blockchain industry. Originating from a Polish-licensed blockchain company, this AI Blockchain wallet revolutionizes decentralized transactions by allowing users to seamlessly perform transfers, deposits, currency swaps, cross-chain operations and staking through an easy-to-use one-button app on Telegram. By building on this success and venturing into MVNO services, Treasure Global reaffirms its commitment to blockchain technology and its potential to drive future growth. This strategic move further solidifies Treasure Global’s position as an innovative leader in the blockchain industry.
Strategic Growth and Innovation
“Treasure Global and ZCITY are at the forefront of technology innovation, fusing telecommunications with blockchain to create unprecedented value for our partners and customers. This AI-powered crypto mining service, integrated with ZCITY’s MVNO offerings, sets a new benchmark in the industry and positions us for substantial growth in the dynamic telecom and crypto markets,” said Sam Teo, CEO of Treasure Global.
Revenue projection
With a current user base of 2.69 million, Treasure Global is ready to expand its business model into a more competent and profitable model, leveraging its existing users to drive future growth. As of now, Treasure Global has 20,000 active users and projects that number to grow to 100,000 in the next 12 months. This anticipated growth reflects a fivefold increase in monthly revenue, reaching $2 million and achieving substantial annual growth of $25 million. We are committed to enhancing the user experience and delivering exceptional value. Treasure Global’s Board of Directors approved a strategic plan to expand into a more advanced and profitable business model. This initiative aims to capitalize on Treasure Global’s robust user base and improve its market position. Treasure Global is confident that this strategic shift will unlock new opportunities and drive sustained growth for the Company as it embarks on this new phase of growth.
Industry Projection
According to Persistence Market Research, the global mobile virtual network operator market is expected to expand at a compound annual growth rate of 7.8%, increasing from a value of US$79.8 billion in 2023 to US$135 billion by the end of 2030. The MVNO market has been on a trajectory of continuous expansion, driven by factors such as increased demand for affordable mobile services, market saturation and the need for differentiated offerings. ¹
¹https://finance.yahoo.com/news/mobile-virtual-network-operator-market-090000461.html.
About Treasure Global Inc:
Treasure Global is a Malaysian solutions provider that develops innovative technology platforms. Treasure Global has developed two technology solutions: the ZCITY App, a unique digital ecosystem that transforms and simplifies the electronic payment experience for consumers while enabling them to earn rewards; and TAZTE, a digital food and beverage management system that offers merchants a complete, automated solution to digitize their businesses. Treasure Global also serves as the master franchisor in Southeast Asia for popular restaurant chains while providing the TAZTE solution. As of May 5, 2024, ZCITY has more than 2,699,216 registered users.
For more information please visit https://treasureglobal.co/.
Forward-looking statements:
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements are characterized by future or conditional verbs such as “may,” “will,” “expect,” “intend,” “anticipate,” “believe,” “estimate” and “continue” or similar words. It is important to carefully consider statements containing these words as they discuss future expectations and plans, project future results of operations or financial condition or present other forward-looking information. Forward-looking statements are not guarantees of future performance; are based on certain assumptions and are subject to numerous known and unknown risks and uncertainties, many of which are beyond the Company’s control. These risks and uncertainties are detailed in the Risk Factors section of the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2023 and in subsequent filings with the Securities and Exchange Commission (“SEC”). Copies of these documents are available on the SEC website, www.sec.gov. Because forward-looking statements cannot be predicted or quantified, actual results could differ materially from those expressed or implied by such statements. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
For more information, please contact:
Contact with investors
ir_us@treasuregroup.co
Media contact
Sue Chuah, Marketing Director
Treasury Global Inc.
sue@treasuregroup.co