DSRV Signs MOU with Ethiopian State-Owned Enterprise: "Blockchain-Based Financial and Public Services Cooperation"

DSRV has signed a memorandum of understanding (MOU) with Pythaverse, an Ethiopian state-owned enterprise, to collaborate on blockchain-based financial and public services.

Jung Hoseong, head of DSRV's Global Business Office, and Rahel Abraham, deputy director and COO of Pythaverse, pose for a commemorative photo at a signing ceremony for a memorandum of understanding held at Pythaverse's headquarters on the 26th (local time). DSRV

According to DSRV on October 29, Pythaverse is a digital public infrastructure (DPI) specialist that originated with Ethiopia's national digital ID program and was launched as a state-owned enterprise in 2026. Under Ethiopian Investment Holdings (EIH), the country's sovereign wealth fund and strategic investment institution, it is expanding a range of identity verification methods based on open-source decentralized identifiers (DIDs), including electronic know-your-customer (eKYC), as well as digital wallets and e-government services.

The two companies plan to establish a joint working group to define specific areas for technical and business cooperation under the agreement. These include upgrading PhaidaPass, a digital wallet, into a verifiable credentials (VC) wallet; jointly researching PhaidaChain, a blockchain infrastructure that links institution-specific digital credentials with PhaidaPass; jointly researching identity-based Web3 financial wallets and technical standards; and exploring public assistance models based on digital IDs, such as electronic vouchers. Financial service integrations will be expanded in stages, in line with the development of local institutions and regulatory frameworks.

DSRV is also in talks with the governments of other major African countries, including Côte d'Ivoire and Senegal, about adopting DPI. The company plans to expand joint DPI projects across Africa to meet each country's digital transformation needs.

Rahel Abraham, Deputy Director and Chief Operating Officer (COO) of Pythaverse, said, "National digital IDs become more valuable when they are connected to the financial and public services people use. Together with DSRV, we will use Phaida to develop a range of digital service models."

Jung Hoseong, head of DSRV's Global Business Division, said, "Demand is growing in several African countries to connect national digital IDs with financial and public services. We will actively support efforts to ensure that more people can benefit from technology by combining DSRV's technology with Pythaverse's national infrastructure."

This content was produced with the assistance of AI translation services.