MVL Chain
MVL Chain is a Singapore-based blockchain mobility ecosystem operating TADA ride-hailing, ONiON Mobility EV manufacturing, Clutch Wallet, and DeFi infrastructure across Southeast Asia. It serves individual riders, drivers, and token holders through a token-incentivized multi-sided platform.
- Company typePrivate
- Founded2018
- HeadquartersSingapore, Singapore
- Headcount11–50
- GTM typeB2B and B2C
- OfferingSoftware
What MVL Chain does
MVL Chain is a Singapore-headquartered blockchain mobility ecosystem founded in 2018 (also referred to in the short-description as 2012; the company history timeline and founding documents support 2018) operating through multiple wholly-owned subsidiaries: TADA for ride-hailing, ONiON Mobility for EV manufacturing and battery-swap infrastructure, Clutch Wallet for multi-chain crypto custody, and MVL Labs for blockchain infrastructure including MVL DePIN, MVL Fi, and MVL RWA (Musubi). The core technology stack runs on Ethereum and BNB Smart Chain, bridged via a LayerZero-based interoperability layer, with TON network integration for the TADA mini Telegram product. The DePIN architecture records real-world mobility data (vehicles, batteries, charging stations, ride-sharing services) on-chain, underpinning both the Mobility Incentive Protocol (rewarding drivers and passengers with MVL tokens proportional to contribution) and RWA tokenization of physical assets like the ONiON T1 electric three-wheeler.
Revenue is generated through four distinct streams: ride-hailing transactions on TADA (which operates a zero-commission driver model), EV hardware sales and battery-swap service revenue from ONiON Mobility in Cambodia, RWA/NFT sales under the Musubi franchise, and token economy activity including staking pools (BNB-bMVL LP, ETH-MVL LP, single staking), bridge fees (10,000 MVL per bridge transaction), and exchange listing utility. The go-to-market combines product-led growth through Clutch Wallet missions and TADA mini Telegram-based onboarding with community-led distribution across Telegram channels (English and Korean), Linktree hubs, and Snapshot-based DAO governance. Geographic footprint spans Singapore, Cambodia, and Vietnam at the core, with recent expansion into Bangkok (February 2024) and Hong Kong (November 2024), and a stated next target of South Korea. MVL tokens trade on HTX and MEXC exchanges with DEX liquidity via Uniswap (Ethereum) and Biswap (BNB Chain).
The business is privately held under MVL Foundation Pte. Ltd. with 11-50 employees. Total disclosed external equity funding is approximately $27.8M across four rounds from 2019 through April 2021, with investors including Central, TRIVE VC, SV Investment Corp, Shinhan Bank, and Samkee Automotive. In February 2024 the company launched a $10M Ecosystem Fund (allocated to ecosystem partners rather than operating capital) and completed its first Buyback Program under CEO and Founder Kay Woo. Revenue and ARR figures are not publicly disclosed; TADA was reported as on-track for EBITDA-positive in 2023.
MVL Chain firmographics
Firmographics- Name
- MVL Chain
- Legal name
- MVL Foundation Pte. Ltd.
- Website
- https://mvlchain.io
- Company type
- Private
- Founded year
- 2018
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- MVL Chain is a Singapore-based blockchain mobility ecosystem operating TADA ride-hailing, ONiON Mobility EV manufacturing, Clutch Wallet, and DeFi infrastructure across Southeast Asia. It serves individual riders, drivers, and token holders through a token-incentivized multi-sided platform.
- Ownership category
- akta.pro rank
MVL Chain industry classification
Industry- Product category
- Blockchain Mobility Ecosystem
- NAICS
- Taxi and Ridesharing Services (485310), Funds, Trusts, and Other Financial Vehicles (525)
- SIC
- Security & Commodity Brokers, Dealers, Exchanges & Services (6200)
- akta.pro primary industry
- Interoperability & Cross-Chain Infrastructure (Bridges, Messaging, Atomic Swaps) (FSAGAMAI)
- akta.pro secondary industries
- Liquidity Bridges & Cross-Chain Swaps (bridge aggregators, intent-based swaps) (FSAPAKAC), RWA Settlement, Transfer Agent & Lifecycle Management Infrastructure (FSADAEAN), Supply Chain & Inventory/Warehouse Receipt Tokenization (FSADAEAH), Cross-Chain Wallet & Asset Routing Infrastructure (FSADACAJ), Consortium Networks & Governance (network setup, onboarding, rules, node operations) (FSAPAIAB)
Keywords
Where MVL Chain is headquartered
LocationHeadquarters
- HQ city
- Singapore
- HQ country
- Singapore
- HQ region
- Asia
Offices1 record
Markets served
MVL Chain business model
Business model- GTM type
- B2B and B2C
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure, Supply Chain
Revenue model
- Ride-Hailing (TADA): TADA operates as a global ride-hailing platform in Southeast Asia with driver-friendly policies including zero commission. Revenue is generated from ride transactions and data services.
- Token Economy & Staking: MVL generates value through its token ecosystem including staking services (BNB-bMVL LP, ETH-MVL LP, single staking), token bridge fees (10,000 MVL per bridge), and exchange listing utility.
- EV Vehicles & Infrastructure (ONiON Mobility): ONiON Mobility manufactures and operates battery-swap electric three-wheelers. Revenue from vehicle sales, battery swap services, and related energy infrastructure operations in Cambodia.
- RWA/NFT Sales (Musubi): MVL RWA offers NFT-based ownership of ONiON T1 vehicles, providing tokenized real-world asset investment opportunities.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Pay-as-you-go | TADA Ride Coupons available in denominations from $1 to $5, purchasable with MVP points in Clutch Shop |
| Usage-based | Pay-as-you-go | USDC Earn Vault on Ethereum network with in-app APY display |
| Usage-based | Pay-as-you-go | MVL Staking pools with dynamic APR - BNB-bMVL LP, ETH-MVL LP, bMVL Single, MVL Single |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels6 records
MVL Chain product offering
Product offeringCore offering
MVL Chain operates a blockchain-based mobility ecosystem that integrates ride-hailing (TADA), battery-swappable electric vehicles (ONiON Mobility), and Web3 infrastructure (MVL Blockchain, DePIN data network, MVL Fi staking/bridge, MVL RWA/Musubi NFT tokenization) connected through the MVL utility token and Clutch Wallet. Revenue is generated from ride transactions, EV sales and battery-swap services, token bridge fees, and DeFi staking activities.
Product overview
MVL Chain is a blockchain mobility ecosystem platform that operates as a unified portfolio of interconnected services rather than a single product. The core offerings include MVL Blockchain (infrastructure), TADA (ride-hailing service), ONiON Mobility (EV vehicles), and Clutch Wallet (multi-chain crypto wallet). Supporting infrastructure products include MVL DePIN (data collection network), MVL Fi (DeFi services), and MVL RWA/Musubi (real-world asset tokenization). Sub-products and features include TADA mini (Telegram booking), MVL Bridge (cross-chain), MVL Staking, and the Mobility Incentive Protocol. These products are interconnected through the token economy (MVL, bMVL, MVP points) and shared data infrastructure, enabling value sharing among ecosystem participants.
Differentiator
Problem solved
Functional benefit
Brands
- TADA: Global ride-hailing platform operating in Southeast Asian countries with driver-friendly policies including zero commission.
- ONiON Mobility
- Clutch Wallet
- MVL DePIN
- MVL Fi
- MVL RWA
Products and services
- TADA Global ride-hailing platform operating in Southeast Asia (Singapore, Cambodia, Vietnam) with driver-friendly policies including zero commission, allowing drivers and passengers to earn MVP token rewards.
- ONiON Mobility Electric vehicle brand producing battery-swappable EVs (T1 three-wheeler, X Series e-bike) and operating associated charging/swap infrastructure, primarily in Cambodia.
- Clutch Wallet Official MVL cryptocurrency wallet supporting Ethereum, BNB Smart Chain, Tezos, and Klaytn networks; features social-login signup, MVP point system (1:1 MVL backing), mission/reward quests, and a DApp browser.
- MVL DePIN Decentralized Physical Mobility Infrastructure Network that records real-time mobility data from vehicles, batteries, charging stations, and ride-sharing services on-chain, supporting new service development and RWA tokenization.
- MVL Fi DeFi product suite providing a token bridge service between ETH and BNB networks, staking services (LP and single), and USDC Earn vaults on Ethereum.
- MVL RWA (Musubi) Real-world asset tokenization initiative creating NFTs based on ONiON T1 electric three-wheelers, enabling fractional ownership and investment in real vehicles.
- TADA mini Telegram-based ride-hailing booking service enabling ride bookings through the @TADA_Ride_Bot, integrated with Tonkeeper and Telegram Wallet on the TON network.
Companies that use MVL Chain
Customer profileNamed customers2 records
Segments3 records
Ideal customer profiles3 records
MVL Chain technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration12 records
Feature6 records
MVL Chain partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered core.
- BiswapcoreDEX integration on BNB Chain for token swaps. Clutch Wallet connects to Biswap for swapping BNB, bMVL, BTCB, USDT, and BUSD tokens.
- UniswapcoreDEX integration on Ethereum for token swaps. Connected through Clutch Wallet for ETH and MVL token exchange.
- MetamaskcoreRecommended wallet for MVL Bridge and Staking services. Supports ETH and MVL token management.
- SnapshotcoreDecentralized voting system for MVL governance. MVL token holders on Ethereum and bMVL holders on BSC, plus DEMO NFT holders, can participate in governance proposals.
Scale indicators4 records
Recent moves6 records
Expansion highlights6 records
MVL Chain competitors and assessment
Company assessmentDirect peers
- DIMO: DIMO is a DePIN network that collects and tokenizes vehicle telemetry data, directly comparable to MVL's DePIN mobility data layer. Both projects aim to monetize real-world vehicle data on-chain and reward contributors with tokens, making them direct competitors in the vehicle-data DePIN category.
- Helium: Helium is the canonical DePIN network, using token incentives to crowdsource physical infrastructure deployment. MVL applies a similar DePIN framework to mobility infrastructure (vehicles, batteries, charging stations), making Helium the closest architectural peer.
Emerging players
- Hivemapper: Hivemapper is a DePIN mapping network that rewards contributors with tokens for mapping road data. While focused on mapping rather than ride-hailing, it shares MVL's DePIN architecture for mobility-related real-world data and token-incentivized contributor model.
- Render Network: Render is a DePIN network that tokenizes GPU compute capacity, sharing structural similarity with MVL's tokenized mobility infrastructure. Both projects monetize underutilized physical resources (compute vs. vehicles) via token incentives and on-chain settlement.
- io.net: io.net is a DePIN network aggregating distributed GPU compute, comparable to MVL as a DePIN ecosystem with a utility token and contributor rewards. The technical focus differs but the DePIN economic model and target user (token-incentivized contributors of physical resources) overlaps.
- Gogoro: Gogoro is a battery-swap electric two-wheeler operator with extensive swap-station infrastructure in Taiwan and Southeast Asia. ONiON Mobility operates a comparable battery-swap EV model focused on Cambodian three-wheelers, making Gogoro the closest direct peer for the hardware business.
Broad incumbents
- Grab: Grab is the dominant ride-hailing, delivery, and fintech super-app across Southeast Asia. TADA directly competes with Grab in Singapore, Cambodia, and Vietnam, though Grab operates a much broader mobility and financial services portfolio.
- Gojek: Gojek is a major Southeast Asian ride-hailing and super-app incumbent. TADA competes with Gojek across its operating geographies, with Gojek offering a wider suite of services including payments and food delivery.
- Chainlink: Chainlink is the dominant blockchain oracle and data infrastructure provider. MVL's DePIN collects and verifies real-world mobility data on-chain, intersecting with Chainlink's broader mission of connecting blockchains to off-chain data, though Chainlink serves as broader infrastructure rather than a mobility-specific peer.
Others
- Ocean Protocol: Ocean Protocol is a blockchain-based data marketplace that allows tokenized data exchange. While not a direct competitor, Ocean is comparable as a token-incentivized data economy, sharing MVL's vision of monetizing data contributions via on-chain mechanisms.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
MVL Chain social profiles
Digital presenceMVL Chain financial estimates
Financial estimateRevenue estimate
Valuation estimate
MVL Chain leadership team
Management profileNumber of profiles
Profiles2 records
MVL Chain subsidiaries and ownership
Company hierarchySubsidiaries3 records
MVL Chain funding detail
Funding detailFunding overview
Funding rounds4 records
Investors7 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
MVL Chain M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about MVL Chain
What does MVL Chain do?
MVL Chain operates a blockchain-based mobility ecosystem that integrates ride-hailing (TADA), battery-swappable electric vehicles (ONiON Mobility), and Web3 infrastructure (MVL Blockchain, DePIN data network, MVL Fi staking/bridge, MVL RWA/Musubi NFT tokenization) connected through the MVL utility token and Clutch Wallet. Revenue is generated from ride transactions, EV sales and battery-swap services, token bridge fees, and DeFi staking activities.
Is MVL Chain a public or private company?
MVL Chain is a private company. It is classified as venture growth investor backed and is currently operating.
When was MVL Chain founded?
MVL Chain was founded in 2018. It employs 11 to 50 people.
Where is MVL Chain based?
MVL Chain is headquartered in Singapore, Singapore, in the Asia region.
How does MVL Chain make money?
Four revenue lines are on record. Ride-Hailing (TADA) is the primary driver. The others are token Economy & Staking, EV Vehicles & Infrastructure (ONiON Mobility) and RWA/NFT Sales (Musubi).
Who are MVL Chain's main competitors?
Direct peers on record are DIMO and Helium. Emerging players are Hivemapper, Render Network, io.net and Gogoro. Broad incumbents are Grab, Gojek and Chainlink. Ocean Protocol is listed as an others.
Does MVL Chain have an API?
No public API is recorded for MVL Chain.
What industry is MVL Chain in?
MVL Chain's product category is Blockchain Mobility Ecosystem. Its primary akta.pro industry code is FSAGAMAI, Interoperability & Cross-Chain Infrastructure (Bridges, Messaging, Atomic Swaps), with a secondary code of FSAPAKAC, Liquidity Bridges & Cross-Chain Swaps (bridge aggregators, intent-based swaps). Its NAICS code is 485310 and its SIC code is 6200.