Blockchain-based ride-hailing platform TADA is preparing to launch in New York City as part of its international expansion strategy.
The company uses blockchain technology and smart contracts to connect drivers and riders directly without a traditional intermediary.
TADA co-founder Kay Woo said the model improves transparency, boosts driver earnings and reduces costs for passengers.
We don’t work as an intermediary. We are becoming the software for both (drivers and riders) and while they’re using our network, they just need to simply pay a small fee.
Woo said.
Founded in Singapore in 2018, TADA was created by South Korean entrepreneurs Kay Woo and Jay Han.
The platform is known for its zero-commission structure, charging drivers a flat software fee rather than a percentage cut.
Drivers typically pay between $0.78 and $0.92 per ride instead of commission-based fees.
TADA secured 11.1% of Singapore’s ride-hailing market share in 2022, according to Measurable AI data.
The company generated $19.8 million in revenue by October 2024, rising from $15.7 million in 2023.
TADA expanded into Cambodia and Vietnam in 2019 before entering Thailand and Hong Kong in 2024.