Swych, a digital gifting platform, has announced the launch of a blockchain-based gifting platform aimed at eliminating the fees and other friction points linked to cross-border gifting.
Swych gifting network provides person-to-person or business-to-consumer gifting services across borders. The company boasts of instant digital gifting transactions with zero processing fees. The Swych gifts can be redeemed and spent at any retailer aligned with Swych network thereby addressing the challenges faced in sending cross-border gifts.
Deepak Jain, CEO and founder of Swych, has said that in this digitally connected world, sending cross-border gifts has still been stagnant with very few seamless options. The shipping hurdles and delays create a lot of customer dissatisfaction. He has claimed that Swych’s blockchain-based platform will give a boost to the growth of gifting market by removing the need for any associated fees or foreign exchange conversions.