YOVO is a global mobile phone network built on the blockchain.
YOVO will be based on the Stellar blockchain, the fastest protocol for building financial products that connect people everywhere.
With YOVO you can earn crypto and spend crypto on mobile service - with 500+ mobile network partners in over 130 countries at launch, increasing to more than 200 countries in the next 12 months. YOVO operates SIM and virtual SIM-based networks.
The alpha release of YOVO GO, a global product to manage and pay for mobile service using cryptocurrency, will be released in June.
YOVO has chosen Malta as its global headquarters which will be home to 30 team members at opening, with €20m of investment.
Richard Skaife, CEO & Co-founder of YOVO, commented:
"The world’s most innovative mobile network is proud to call Malta, the global leader in blockchain, its home.
We shall serve millions of digital money customers with mobile service from our Malta HQ and be an active part of the broader blockchain community that’s growing daily on blockchain island.
We are particularly grateful for the support of the Maltese Government through Junior Minister for Financial Services, Digital Economy and Innovation Silvio Schembri as we launch YOVO"
Junior Minister for Financial Services, Digital Economy and Innovation Silvio Schembri expressed his satisfaction over YOVO’s decision:
"This news comes at perfect timing. Just today, the 3 bills Malta Digital Innovation Authority Bill, Innovation Technological Arrangements Bill and Virtual Financial Assets Bill are now at the 2nd reading stage in Parliament and we look forward to enact them into law. It is evident that operators within this field are looking for legal certainty and that is what we, as a Government, intend to do." said Schembri.
Silvio Schembri referred to the statistics published today by 99Bitcoin which provides information on the technological aspect of Bitcoin, has put Malta in first place as the friendliest country in the blockchain sphere, above countries such as Switzerland and Germany. 99Bitcoin said that there’s bright outlook for cryptocurrencies in Malta while mentioning the vision to make Malta a trailblazer in this industry.
"I thank YOVO for putting their trust in our country, for creating new jobs in this field and for their commitment and input in making Malta The Blockchain Island" said Schembri.