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Mongolian e-commerce paving the way for the digital Silk Road

Intelmind, a leading technology group and a venture capital incubator in Mongolia, has announced its plans to introduce its e-commerce technology services to the Central Asia market through its subsidiary Cody as part of its ongoing international expansion. The Ulaanbaatar-based company recently signed a strategic partnership with Chinese e-commerce giant Alibaba Group to bring millions of Chinese products to Mongolian consumers.

Cody’s system facilitates seamless cross-border transactions and enables its clients to build a modern-day digital Silk Road with advanced e-commerce capabilities. This collaboration highlights the significant strides Intelmind is making in connecting markets and enhancing digital trade routes.

Cody, a thriving start-up since 2019, has been recognized as one of Fly Asia’s Top 50 technology companies, an EBRD Star Venture, and made it to the Astana Hub’s Silkway Accelerator program.

Cody’s technology has been successfully deployed in Uzbekistan with fully integrations with local banks, payment service providers, and logistics companies. In Mongolia, over major trade and service providers rely on Cody’s system, serving 1.8 million people, or half of the country’s population, on daily basis. Over the past four years, this initiative has retained $10 million within the local market that would have otherwise been spent abroad.

Intelmind and Cody are committed to further expanding their presence in the Central Asian region. To discover more about Cody’s technology in Uzbekistan, visit www.tut.uz. For more information about Cody, visit www.cody.mn.

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