(MENAFN- EIN Presswire)
Yeh Group Family of companies
Textile Leader Establishes Cryptocurrency Transactions in Response to Medical Textile Supply Chain Bottleneck
BANGKOK, THAILAND, February 7, 2021 /EINPresswire.com / -- Penn Asia, one of the Yeh Group Family of companies, today announced that it is integrating digital assets called 7Plus Coin into its supply chain. 7Plus Coin was developed for payment and goods tracking for seamless transactions across the Yeh Group of companies. Penn Asia anticipates that the Coin will be embraced by hundreds of global pharmacies, private clinics and hospitals companies working in the healthcare space.
'By integrating 7Plus Coin digital assets into the supply chain for Medical textiles, Yeh Group will ensure product integrity through the transparency provided by blockchain,' said CEO and Founder Mr. Jimmy Yeh. 'The opportunity to use cryptocurrency among sellers, buyers and mediators makes it easier to do business, which streamlines the supply chain. Our end users will be assured of product integrity, necessary for medically approved PPE gowns, medical masks, textile washable reusable gloves and many more related medical textile products.'
7PLUS Coin is an ERC-20 utility token built on the Ethereum blockchain. It has a total supply of 200 million tokens and is set at $0.1 per SV7 coin during private and public sales, respectively. The token symbol is represented as SV7. To keep the supply chain moving, Penn Asia's 7Plus Coin digital asset will serve as an easy utility token tool for transactions, payments and tracking of The Yeh Company's textile and apparel products.
Mr. Yeh added, 'Given that blockchain operates a distributed ledger technology, this will allow for payments and essential tracking of medical products.'
In recent years, the digital asset market has gained global momentum, which is achieved through frictionless money transfers, seamless electronic payments and disruptive digital asset savings and lending programs. Currently, the digital asset market has an estimated global trading volume of $500 billion. The market is expected to continue growing exponentially, with trading volumes soon to reach trillions of dollars. In addition, the market is also becoming more legitimized. Case in point, Elon Musk recently and enthusiastically backed Bitcoin, declaring his support and confirming that the cryptocurrency is on the verge of broad acceptance. The increasing clarity of digital asset products and services is the reason 7Plus Coin has introduced SV7.
The COVID-19 pandemic has revealed ongoing and significant supply chain issues. Every day, multiple entities simultaneously need medical textile products. 7Plus Coin, through The Yeh Group and Penn Asia, is designed to be part of the solution to manufacture, supply and track medical textiles to support the healthcare system and all who need protection.
Penn Asia has developed safe medical apparel and guarantee the integrity of all their textile products for essential medical use with waterless Drydye technology to help with water pollution. The company has manufactured fabrics for nearly all major intimate apparel brands for the Asian, European and North American markets. Major customers include Victoria's Secret, Wacoal, Adidas, Triumph and Mizuno. The Yeh Group of companies is globally managed by its CEO, Mr. Jimmy Yeh. The Yeh group is well known for is innovation, entrepreneurial drive and commitment to sustainability, with over 1,000 employees worldwide—back by strong experience for last 30 years and on 40 acres of land near Samuth Sakhorn in Thailand, with Paid up Capital of around $17 million.
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