Powerbridge Technologies, a multinational provider of technology solutions (Nasdaq: PBTS), is setting a new trajectory with the announcement of a strategic joint venture, leading to the establishment of Agro Digital Fintech Co., Ltd. This new fintech venture is centered on the agricultural and livestock farming sectors, leveraging asset digitization to create a dynamic digital financial ecosystem that aligns with China’s Rural Revitalization Initiative.
China’s Rural Revitalization Initiative is a comprehensive development plan aiming to stimulate economic growth, elevate living standards, and address the multifaceted challenges in the country’s rural regions. These challenges include poverty alleviation, infrastructure development, agricultural modernization, promoting rural entrepreneurship, and improving social services. The Initiative has a pivotal role in mitigating the socioeconomic disparities between rural and urban areas, fostering sustainable agriculture, and boosting the overall welfare of rural communities. The market potential fostered by this Initiative is projected to reach an impressive 4.5 trillion U.S. dollars by 2025.
Agro Digital has harnessed cutting-edge technologies – including the Internet of Things (IoT), blockchain, AI, and big data – to create a fintech platform that catalyzes the digital transformation of the agriculture and livestock industries. This innovative platform facilitates the digital encapsulation of production and transaction processes, leveraging data to help customers enhance their financial profiles and access credit and financial services. Furthermore, this platform provides financial institutions and funders an in-depth understanding of customer businesses, enabling them to make precise risk assessments and deliver tailored financial services.
Stewart Lor, CEO of Powerbridge Technologies, expressed his enthusiasm for the new venture, saying, “We are thrilled to launch Agro Digital, taking advantage of the enormous market opportunities brought by the Initiative in the coming years. Through advanced technologies and the promotion of financial inclusion, Agro Digital aims to empower rural communities and endorse sustainable agricultural practices. We are confident that Agro Digital will significantly contribute to our overall growth and deliver value to our partners and investors.”