Singapore firm expands blockchain capabilities | chainup, blockchain, innovation, technology, technology, strategic expansion, availability, crypto, hustle, monetary authority of singapore, sailor zhong, goh chok tong, metatrust labs, hs88, kt corporation
Singapore-based blockchain-focused firm, ChainUp, has announced a number of strategic updates, including the acquisition of a licensed fund management company, the appointment of an advisory board and additional key partnerships.
The CEO and CEO of the company, Sailor Zhong, said FinanceAsia that the updates are central to the firm’s vision of making blockchain technology more accessible to businesses worldwide.
“Over the next three years, we aim to innovate and expand our product offerings to support the development of the blockchain ecosystem with sustainable global operations,” he said FEW.
Founded in 2017, ChainUp offers blockchain-based solutions including: access to digital asset exchanges; storage and management of digital assets; NFT trading systems; as well as wallet and liquidity solutions. The crypto participant has five international offices, across Singapore (HQ), Hong Kong, North Carolina, Tokyo and after its establishment in August this year, Seoul.
In June, the company entered into a strategic partnership with Singapore’s Bedrock Trust Pte. Ltd, a licensed asset and wealth management firm regulated by the Monetary Authority of Singapore (MAS), catering to family office clients. The pair had initiated a collaboration across projects including ChainUp subsidiary Top Values IPFS Infrastructure Fund, Total Return Fund and Enhanced Beta Fund and Venture Capital Fund, before ChainUp announced its acquisition of Bedrock on Wednesday (September 28).
“With our scale and Bedrock’s know-how, we will create further compatible financial products that take advantage of the high growth of the blockchain sector, opening doors for traditional investors and institutions to engage with the industry,” Zhong said FEW.
In the release, CEO and founder of Bedrock, Serena Choo Shui Hui, added that she had observed growing interest from clients in digital assets and that the acquisition provided the opportunity to leverage ChainUp’s expertise in this area.
Global perspective, strategic expansion
In celebration of its fifth anniversary last week, ChainUp announced the appointment of a board of directors and products. Consisting of eight members including former Singapore Prime Minister and MAS Chairman, Goh Chok Tong, the board will provide the firm’s management team with leadership and stewardship. Zhong told FEW that Goh’s “truly global perspective and vision” would provide the board with invaluable expertise and guidance.
“With their diverse backgrounds and rich industry experience, our new board will help our company strengthen its global compliance and risk controls.”
“At the same time, we hope to integrate our experience in compliance and risk control into our expanding product suite. This will enable us to offer standardized compliance products that help our partners meet regulatory requirements in each country of operation.”
Also at the event, the firm announced two more partnerships. The first is with Singapore-based cybersecurity software developer Metatrust Labs. With a core focus that Zhong explained involves translating state-of-the-art research into automated security scanning capabilities for Web3, he said the partnership would see the firms work together to develop a combined exchange security solution.
In the second partnership, ChainUp is working with the partially state-owned Korean telecommunications company, KT Corporation, and the Korean blockchain consulting and service platform, HS88.
“Through this partnership, we will combine our marketing resources to work together in areas including IDC (international data corporation) business and data storage solutions,” he said.
ChainUp currently distributes its solutions to over 60 million end users. Its current customers include businesses in blockchain-related industries, as well as companies operating in traditional sectors looking for a route into the blockchain space, Zhong confirmed.
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