Instimatch Partners Algorand to Disrupt the Payment Space With Blockchain
Deutsche Bank Securities Services is reportedly partnering with a fast rising FinTech company- Hashstacs Pte Ltd (STACS) to explore a proof-of-concept (POC) in the area of carrying out technical and practical feasibility of digital assets. This joint operation is aimed to improve liquidity, interoperability, cross-border connectivity, smart contract templates as well as supporting its sustainability-themed digital bonds of the POC.
The leading European bank- Deutsche Bank Securities Services and the Singaporean based FinTech development company- STACS were awarded the Proof-of-Concept (“POC”) grant on the 29th of October 2020. This grant is part of the on-going Financial Sector Technology and Innovation (FSTI) scheme operating under the Financial Sector Development Fund which is being administered by the Monetary Authority of Singapore (MAS).
Deutsche Bank Securities Services will fund the development, the experiment and other technical projects while STACS will focus on capital markets functionalities, such as the trade lifecycle management of bonds, Environmental, exchange-traded derivatives (ETD), structured products, Social, and Governance (ESG) Fintech.
Jeslyn Tan, who is the Global Head of Product Management, Securities Services at Deutsche Bank said, her organization is proud to partner with STACS on the project- MAS FSTI scheme. She went further to mention the role(s) investors need to play, in managing their digital assets and ensure settlement finality with the support of her bank’s institutional infrastructure. She reiterated the need to have an integrated platform that could meet the expectations of cross-border issuer-investor needs in Singapore and the entire globe.
Benjamin Soh, Managing Director at STACS in his remark, thrilled at this joint venture partnership with Deutsche Bank. He sees this transformative technological project as something that will empower the world markets sustainability and connectivity. He further underpinned the importance of this project and the role of STACS in repositioning Singapore to lead the world’s financial network and hub for innovation and technological transformation.
STACS had shown its commitment in advancing the FinTech industry, having recently collaborated with the Swiss private bank EFG on “Project Nathan– Smart Structured Products. STACS co-developed this blockchain platform that could enhance and simplify the processes of structured products.
Just recently also, STACS partnered with the Malaysia’s stock exchange –Bursa to complete a project called “pilot blockchain proof of concept”.
Based on the technical indicators and market sentiment, here are potential scenarios for Bitcoin’s price over the next five days:
Bitcoin remains in a “bull cycle” despite a month of sideways of price action and a lack of strength to reclaim $100,000 psychological level.
Bitcoin (BTC) hit an all-time high above $100,000 earlier this week, a long-awaited milestone for crypto history.
South Korea’s Financial Services Commission (FSC) made a press conference on January 18, 2021 where it unveiled its blueprint for 2021.According to the regulatory body, the key area to focus is to promote financial innovation through the advancement of open banking development and adoption.
February 18, 2021 11:13 am
A paper by the EU Blockchain Observatory and Forum says that, Estonia, Switzerland, Cyprus and Malta have the most advanced blockchain ecosystems in Europe. These countries could boost of having well-developed startup scenes and high friendly regulatory system.
February 18, 2021 11:13 am
Visa has announced its partnership with First Boulevard -a digital native Neobank, focusing on creating business opportunity for the black community. This is the first API project of its new suite of crypto APIs and this will help customers to purchase, trade and be in custody of their digital assets.
February 18, 2021 11:13 am
that NFT industry grew by 299% in 2020, with total transactions worth more than $250m. According to the report, the active wallets transacting NFT grew by 97% from 112,731 in 2019 to 222,179 in 2020.
February 18, 2021 8:46 am
On January 18, 2021, a well-known Consultancy firm-KPMG, during a conference tagged,” 2020 KPMG China 50 Leading Fintech List and Report Conference” released its yearly selection of China top 50 FinTech companies. This year’s event featured 100 companies to showcase the sector’s fast-changing landscape and growth.
February 8, 2021 10:18 am
