Cebuana Lhuillier is getting started with its digital transformation as the company has recently acquired a stake in the Fintech company SCI Ventures. Satoshi Citadel Industries (SCI) is a Filipino-led blockchain and digital asset platform that is backed by Kakao Talk, Korea’s largest messaging app.
Cebuana Lhuillier is currently the largest non-bank financial services provider in the Philippines with 2,500 branches nationwide which can also be an advantage for SCI’s blockchain solutions and services. Cebuana Lhuillier also has 4000 domestic partners and one million combined physical and virtual touchpoints worldwide.
P.J. Lhuillier Inc. (PJLI) is the parent company of Cebuana Lhuillier and they’ve invested an undisclosed amount to acquire a stake in the local fintech firm, SCI, as part of its bid to enter the digital financial services market.