SINGAPORE (Oct 15): Cross-border logistics is notoriously competitive and highly expensive, setting high barriers for small start-ups that want to enter the game. Singapore-headquartered Global Parcel Network, or ParcelX, wants to change that.

The company is launching a blockchain-based logistics platform, which runs on its own cryptocurrency, for cross-border parcel deliveries across Asia. It will leverage on the business of an associate company in Shanghai, Wuyao E-Commerce, which matches parcel delivery requests with logistics companies across borders, among other things.

ParcelX counts Rakuten, eBay and LG as customers. Its logistics partners include Alibaba Group Holding’s Cainiao and Shenzhen Stock Exchange-listed Yunda Holdings.

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