Blockchain firm Jia records $2M in microfinance originations in the Philippines, Kenya

Blockchain startup Jia has achieved a significant milestone by recording more than $2 million in microfinance originations. The platform, which operates in the Philippines and Kenya, serves over 2,000 small business owners and aims to provide fair financing options to bridge the $5 trillion credit gap faced by microenterprises in emerging markets. Jia’s success in reaching this milestone within a span of 11 months since its launch demonstrates the tangible impact it is making in the lives of entrepreneurs. The company utilizes blockchain technology, including the Celo and Polygon blockchains, to ensure transparency, security, and efficiency in its microfinancing model. SMEs, which account for 90% of businesses and over 50% of employment globally, often struggle with access to finance, making it a major obstacle to their growth. Jia’s use of blockchain aims to empower small businesses by providing a secure and transparent financial history. Customers of Jia, such as Jimsen Iguan in the Philippines and Francis Njoroge in Kenya, have shared positive experiences, highlighting the platform’s better payment terms and impact on their business growth.