Cake DeFi consolidates global R&D for digital assets and blockchain technologies in Singapore by DailyCoin

Cake DeFia Singapore-based fintech firm, on September 13 announced the launch of its global R&D center, Birthday research. The new hub will be located in Singapore and will focus on developing best-in-class blockchain and digital asset technologies through open source blockchain research and development.

Investing 50 million dollars
Cake DeFi has committed to investing $50 million in R&D over the next 4 years to develop new products and innovations for fintech and financial institutions within the digital asset ecosystem.

The company has over 50 R&D employees within the product and engineering teams. Cake DeFi plans to double this number as it consolidates its R&D operations in Singapore.

“The launch of our global R&D center, Birthday Research, in Singapore supports the Singapore government’s digital asset innovation policy. We are committed to building the B2B digital infrastructure and leveraging Singapore’s blockchain ecosystem to drive innovations in fintech,” said Dr. Julian Hosp, co-founder and CEO of Cake DeFi.

Cake DeFi is a fully transparent, highly innovative fintech platform that provides access to decentralized financial services and applications by enabling users to generate returns from their crypto and digital assets. It is operated and registered in Singapore and is subject to the applicable laws and regulations of Singapore.

By enabling and empowering its users to harness the potential of DeFi, Cake DeFi aims to educate and inform people around the world about crypto and DeFi in a simple, easy-to-understand and hassle-free way.

Focus for decentralized finance
With the Monetary Authority of Singapore’s (MAS) direction to grow all aspects of the digital asset ecosystem, Birthday Research will centralize Cake DeFi’s product innovation and development in the technology stack for B2B solutions.

“The launch of Birthday Research is an exciting milestone for us at Cake DeFi. Cake DeFi is built on the solid foundation of blockchain technology that enables global decentralized finance. It enables decentralized finance to be leveraged by businesses like us in a reliable, secure and compatible way, says U-Zyn Chua, co-founder and CTO of Cake DeFi

Birthday Research will focus on running institutions with blockchain technology infrastructure such as node, depository and key management, as well as a “SWIFT” for decentralized finance. The establishment of Birthday Research will create job opportunities in Singapore’s emerging technology and fintech sector.

In addition, Birthday Research also seeks to address issues faced by the traditional financial sectors, such as slow and erroneous payment transactions, lack of trust and transparency, and unequal access to financial services across markets.

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