UAE’s National Pulse Invests in Singapore’s Aleta Planet
The investment is set to support Aleta Planet’s expansion into the UAE, Middle East, and Africa.
UAE-based strategic management company National Pulse has invested in Aleta Planet, a Singapore-based payments solutions provider. Financial details of the investment were not disclosed.[1]
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The investment is set to support Aleta Planet’s expansion into the UAE, Middle East, and Africa.
Aleta Planet plans to establish a joint venture with National Pulse to focus on business-to-business cross-border transactions, initially targeting the agricultural and logistics sectors in the Middle East.
Founded in 2014, Aleta Planet facilitates global payments, including through China’s UnionPay platform, and processes approximately $2 billion in cross-border payments annually.
The company also provides the AP-1 virtual card for QR code and contactless payments via UnionPay, benefiting both tourists and local SMEs in Singapore with faster and cheaper transactions.
In addition, Aleta Planet developed a blockchain-based platform called Global Tracer in collaboration with Singapore-based blockchain company DiMuto, which verifies the condition of perishable goods and facilitates cross-border payments between suppliers and retailers.