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Trust Union, founded in 2018, is the first blockchain technology-based credit checking platform that facilitates consumer-to-consumer (C2C) personal lending. Trust Union reported 5 millions active users within less than a year since its establishment. It aims to facilitate direct money transaction between individuals, eliminating the need of a traditional intermediary (eg. Bank).

This lending platform empowers individual borrowers, especially those in developing countries, with easier access to low-interest, cross-border capital, as well as a complete control of their own credit records. Trust Union has started credit checking services in Vietnam, with partnership with Gmobile, a Vietnam telecomm company that has 5 million users. This enables individual users to build their own credit records on Trust Union’s platform.

Operations
Trust Union’s mobile application "Shell Planet” (Beike Xingqiu) enables personal lending transactions between individuals. Borrowers and lenders can create loan contracts on the mobile application. If the borrower fails to make payments on time, it would be on his record, and his credit rating would be downgraded. Thus, “Shell Planet” provides a reliable credit rating of an individual based on his personal profile, capability of fulfilling contracts, credit history, and interpersonal connections.

Trust Union plans to expand its customer base from individuals to institutional users, including banks, money lenders and mortgage brokers, once it has developed a data bank for individual.

Trust Union plans to issue 1 billion TUT tokens. The company currently has cooperation with two cryptocurrency exchange platforms:
 * CIEX
 * IDCM

Area Served
As of September 2018, Trust Union has been expanding its footprints into Southeast and East Asian markets, including Hong Kong, Japan, South Korea, Thailand, Cambodia, and Laos.

Partnerships

 * Vietnam’s 4th-largest telecom company, G Mobile
 * Vietnam’s TP Bank
 * Sconek, a Vietnam-based research institute affiliated with The University of New South Wales

Project Team

 * Chief Executive Officer (CEO): Markus Chan
 * Chief Technology Officer (CTO): Keith Yau
 * Chief Operating Officer (COO): Long Chao
 * Co-Founder: Stone Yu

Leaglity
Some countries, including China, have restricted the use and trade of cryptocurrencies. Nevertheless, the Chinese government demonstrates a positive attitude towards the blockchain technology. For instance, it has recently launched the “Blockchain Test Zone” in Hainan Free Trade Zone.