JMVL Supports Growth in Developing Countries Through Vehicle Investment
JMVL Co., Ltd. (Headquarters: Chiyoda-ku, Tokyo, CEO: Kay Woo, hereinafter referred to as “the Company”) has launched “MUSUBI,” a blockchain-based mobility finance platform, and has begun offering vehicle lease investment products for corporate clients in Japan. Additionally, the limited pre-sale of electric tricycles, which commenced in November 2024, has sold out within the same year.
The investor from the limited pre-sale (left) and the Cambodian driver operating the investment vehicle (right) at the ONiON Mega Station (in Phnom Penh).
“MUSUBI” is a platform that focuses on vehicles as tangible investment assets. Various rights associated with individual vehicle lease contracts are tokenized as NFTs in a tamper-proof format and provided to investors. This allows for digital management of various information and enables partial rights to be divided and freely traded on the blockchain.
The 18 electric tricycles (electric tuk-tuks, manufactured in Cambodia), which were made available for limited pre-sale to corporate clients in Japan starting in November 2024, received inquiries from a wide range of businesses, from major corporations to small startups, and sold out by the end of 2024. These vehicles are being used by local drivers in Cambodia for ride-hailing services, generating returns for investors while contributing to job creation in developing countries, improving drivers’ living standards, and providing residents with clean and convenient transportation options.
The Company, along with “MUSUBI,” is creating social and economic impact as a concrete example of promoting financial inclusion in developing countries and supporting the transition to environmentally friendly transportation through sustainable mobility solutions.
We will continue offering lease investment products for electric tuk-tuks to corporate clients in Japan. Additionally, we will announce new “MUSUBI”-related products currently in development as soon as they are ready for sale.
Overview of the Pre-Sale of Overseas Vehicle Lease Investment Products Utilizing MUSUBI
In this limited pre-sale, corporate clients purchased electric tuk-tuks for ride-hailing services. These vehicles are leased by investors to ONiON, a vehicle operations company in Cambodia, and then sub-leased to drivers who operate them for the ride-hailing service “TADA,” providing transportation for local residents.
By reflecting these contractual relationships on the blockchain through the MUSUBI platform, the rights of corporate clients as vehicle owners and lessors are represented as multiple NFTs in a secure and tamper-proof form. These NFTs are stored in wallets managed by each corporate client.
The vehicle operations in Cambodia are managed by ONiON, which handles sub-leasing operations as well as essential management tasks such as online monitoring and vehicle maintenance. Since 2021, ONiON has been manufacturing and selling electric tuk-tuks, as well as operating battery charging stations and maintenance facilities. Additionally, both ONiON and the local company that operates the ride-hailing service “TADA” are part of the same MVL Group as the Company.
By digitizing various rights related to vehicles, it has become possible to offer services that support investments in leasing businesses. These services include providing NFT holders with access to real-time data such as the vehicle’s location, battery status, and ride-hailing operational metrics, as well as enabling online payment requests for lease fees and the securitization of future lease receivables on the blockchain. These innovations, made possible by blockchain technology, are gaining attention from major corporations as a foundational element for the mobility ecosystems of the future.
Advantages of the Vehicle Leasing Business Through the MUSUBI Platform
Investors who become vehicle owners can expect returns equivalent to an annual yield of approximately 5% to 10% over a lease period of 2 or 3 years. The generated lease fees can be received in U.S. dollars, which are widely circulated in Cambodia, or in Bitcoin, a cryptocurrency that has been attracting attention. Data from the operators managing the vehicles and the ride-hailing service revenues, which serve as the source of lease payments, are linked to the MUSUBI platform and can be accessed at any time. This ensures transparency and reliability in vehicle investments.
The sales price of the electric tuk-tuks handled this time is $4,700 for a new vehicle. While this may not be particularly expensive for investors in Japan, for local drivers with different income levels, it can sometimes amount to more than their annual income.
Through vehicle leasing via MUSUBI, ride-hailing drivers can access electric tuk-tuks, which are more fuel-efficient and have lower maintenance costs compared to conventional engine vehicles, without worrying about upfront costs. This not only provides a reliable means of transportation for people but also helps improve the livelihoods of ride-hailing drivers.
Roles of MVL Group Companies
The ride-hailing platform “TADA,” which matches passengers and drivers over 100,000 times daily.
The MVL Group, to which the Company belongs, has been promoting the use of blockchain in the mobility sector since 2018, focusing primarily on Southeast Asia. Headquartered in Singapore, MVL Group operates businesses including ride-hailing platform, electric tuk-tuk manufacturing and sales, and cryptocurrency-related services in countries such as Vietnam, Cambodia, Thailand, and Hong Kong, while accumulating various data on the blockchain.
As a member of the MVL Group, the Company was established in Japan with a team of members well-versed in various industries to provide mobility finance services and ride-hailing services domestically.
ONiON, the company that manufactures the vehicles purchased by investors and manages their operation and leasing locally, is Cambodia’s first electric vehicle manufacturer with a proven track record. ONiON vehicles are equipped with systems that allow real-time monitoring of location and battery status, enabling the collection and optimization of operational data for the TADA ride-hailing business. In emergencies, such as vehicle theft, the vehicle’s motor can be safely stopped remotely before recovery. Additionally, at ONiON Stations located throughout Cambodia, dedicated operators perform battery exchanges and maintenance on brought-in vehicles, supporting their efficient operation.
Similarly, TADA, a subsidiary of the MVL Group, has been extensively expanding its ride-hailing business across Southeast Asian countries since its establishment in 2018. It also provides safe and efficient ride-matching services for drivers using ONiON-manufactured electric tuk-tuks in Cambodia. Data collected from the TADA ride-hailing platform is visualized on the “MUSUBI” platform as driver activity and usage information, bringing transparency and trust to vehicle owners’ leasing businesses.
The Company’s vision
Through blockchain-based vehicle leasing programs, we aim to provide safe, transparent and impactful investment opportunities for our clients while shaping the future of global mobility. By driving innovation in mobility, we strive to foster economic development in various regions and contribute to building a sustainable society.
Next Batch Sale Information
Application Method: Please contact us directly.
Details: Visit our website at https://musubi.fi.
About JMVL Co., Ltd.
Company Name: JMVL Co., Ltd.
Business Overview: Import and sales of electric three-wheelers
Establishment: March 2024
Headquarters: Gran Tokyo South Tower, 11F, Marunouchi 1-9-2, Chiyoda-ku, Tokyo
Representative: Kay Woo
Website: https://musubi.fi
MVL Group
MVL Chain (Singapore)
TADA (Singapore)
ONiON Mobility (Cambodia)
Customer Inquiries About Services
JMVL Co., Ltd.
Customer Support: Naruse
Email: support@musubi.fi
Media Inquiries for Interviews
JMVL Co., Ltd.
Public Relations: Nishimura
Email: support@musubi.fi
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