Third-largest construction machinery manufacturer in the world, XCMG Construction Machinery Co., Ltd. (000425.SZ), has partnered with Singapore-based blockchain and fintech firm Zen Spark Technology Pte Ltd and Conflux, a renowned blockchain network, to explore the international applications of blockchain and Web3 technologies.

Announced via an official press release on Monday, the three companies have come together to leverage their unique strengths and create new use cases for blockchain, utilizing XCMG’s extensive global network, Conflux’s innovative technology, and Zen Spark’s expertise in fintech.

XCMG, Conflux, and Zen Spark Aim to Explore New Frontiers in the Global Market

Notably, the partnership’s announcement comes at a time when the adoption of blockchain technology continues to grow across various industries. The use of blockchain in supply chain management and logistics, for instance, has been increasingly popular, and the partnership between XCMG, Conflux, and Zen Spark Technology Pte Ltd aims to explore new frontiers in the global market.

The three companies have expressed their commitment to driving innovation in blockchain and Web3 technology and using them to create unique solutions that will benefit their customers and clients worldwide.

With XCMG being the third largest construction machinery manufacturer globally, the partnership is expected to produce numerous innovative solutions in the construction industry. The collaboration is expected to enable the development of new blockchain applications that leverage the unique strengths of each partner, with the ultimate goal of unlocking the potential of Web3 technology and exploring new use cases in various markets.

XCMG’s Vice President of Machinery and General Manager of the Import and Export Company, Liu Jiansen, expressed enthusiasm for the partnership with Conflux and Zen Spark Technology Pte Ltd, stating that it opens up new opportunities in global markets. The partnership represents a significant milestone in the advancement of blockchain technology and its application in traditional industries. As the world continues to become more interconnected, the utilization of blockchain and Web3 technology to drive innovation and explore new business models has become increasingly important.

Furthermore, XCMG has made a big announcement at the Las Vegas CONEXPO-CON/AGG trade show by revealing their Metaverse Ambassador, Bored Ape Yacht Club NFT #3489 (BAYC #3489), which marks the company’s entry into Web3. The move comes as XCMG continues to explore new opportunities in the blockchain and web3 space. In addition to this, XCMG and Conflux plan to jointly issue their first NFT collection for overseas markets soon.

XCMG is excited to leverage its partnership with Conflux and Zen Spark Technology Pte Ltd, tapping into their expertise in distributed ledger technology and fintech to bring innovative solutions to the global market. The partnership’s progress will be closely watched by industry experts and investors as the three companies explore new opportunities and drive innovation in the global market.