Blockchain Firm Jia Records $2M in Microfinance Originations in the Philippines, Kenya

Source: CoinGeek

Jia, a blockchain-based microfinance firm, announced it had crossed $2 million in originations. The company said more than 2,000 small business owners use the platform in the Philippines and Kenya.

Zach Marks, co-founder and CEO of Jia, told CoinGeek that this development represents the tangible impact the company is making in the lives of small businesses in emerging markets. "It is a major milestone for Jia in our journey to expand financial access in emerging markets," Marks said. "Of course, $2 million is just the beginning. We have a long way to go to close the $5 trillion credit gap for small businesses and microenterprises in emerging markets who are held back from growing and serving their communities because of a lack of fair financing options."