Tesoro Enterprises, announced that Singapore-based Cyberbeat, a leading digital payments and financial technologies company led by veteran digital payment industry executives of the Asia Pacific region has made a strategic investment into HUMBL, LLC.
The cash investment is consummate with a new partnership in which Cyberbeat gains the non-exclusive rights to sell, distribute and deploy HUMBL and HUMBL Hubs technologies into key verticals in the Asia Pacific in calendar year 2021 and beyond.
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Cyberbeat’s digital payment platform is uniquely positioned to address a vast Asia Pacific based clientele that fits with the key verticals of HUMBL, including: banks, financial services, telecom companies and national payment institutions.
HUMBL is a provider of the HUMBL® mobile wallet and HUMBL Hubs® merchant services software which is being developed to accommodate the migration by governments to digital forms of their national currency, as well as key functions like cross-border remittance, foreign exchange, bill payment and lending products from smartphones.
The strategic partnership enables HUMBL to explore sales and installation expansions through Cyberbeat into operating markets such as Singapore, Myanmar, Nepal, India, Vietnam and the Pacific Islands, reflecting over a 1.5 billion consumer and merchant opportunity.
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Cyberbeat executives have had a proven track record of implementing and offering digital and traditional payment solutions of US-based partners such as Visa, Mastercard and American Express into the Asia Pacific and Pan-India markets.
“We have seen a number of technology cycles over the decades at Cyberbeat. The national migrations to digital forms of ID’s, money, payments and financial services products is the most exciting one yet, and we believe the HUMBL brand will achieve mass penetration in this region, given its flexible technology solutions and architecture,” stated Cyberbeat CEO, Rajan S. Narayan.
“We view this opportunity to establish this global relationship with a proven winner in the Asia Pacific region a significant achievement for HUMBL in the coming year. The Cyberbeat team has helped Fortune 500 brands expand their footprint into this region for decades, and we hope to be a part of that legacy during this next digital transformation cycle,” said Karen Garcia, VP Major Accounts for HUMBL.
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