DBS is the first bank to launch a Digital Exchange, allowing customers to trade in cryptocurrency and digital assets.
These associated blockchain entities have come a long way since the 2017 initial coin bubble that popped with regulatory definition.
The Digital Exchange caters to high net worth individuals, providing a variety of deals and more ways to trade assets.
This is also a step in Singapore’s smart financial hub aspirations — and SGX has jumped at it.
12 January 2021 — When a major bank like Singapore’s DBS decides to adopt blockchain technology, you know the tech is finally going mainstream. …
SINGAPORE, HONG KONG, 7 January 2021 — Deutsche Bank Securities Services and Hashstacs Pte Ltd (“STACS”) today announced their collaboration to jointly explore a proof-of-concept related to the technological and practical feasibility of digital assets interoperability, liquidity, cross-border connectivity, and smart contract templates, including the support of sustainability-themed digital bonds.
STACS, in collaboration with Deutsche Bank Securities Services, was awarded the Proof-of-Concept (“POC”) grant on 29 October 2020, which provides funding support for experimentation, development and dissemination of nascent innovative technologies in the financial services sector. …
SINGAPORE, 19 January 2021 — Hashstacs Pte Ltd (“STACS”) announced today that it has become a portfolio company of PwC Singapore’s Venture Hub programme. The joint business relationship will bring about synergies between the two firms, while helping to elevate trust placed in distributed ledger technology (DLT) by the financial services industry and driving adoption.
STACS’ existing clients and partners include global investment banks, national stock exchanges, custodian banks, asset managers, and private banks. The company is an Award Winner of the Monetary Authority of Singapore (MAS) Global FinTech Innovation Challenge Awards 2020, a technology partner of Project Ubin led by the MAS, and a two-times awardee of the Financial Sector Technology and Innovation (FSTI) Proof of Concept (POC) grant, under the Financial Sector Development Fund administered by the MAS. STACS’ mission is to empower financial institutions to unlock massive value presently locked up in inefficient systems and processes, and discover new opportunities, including Environmental, Social, and Governance (ESG) and Green Fintech, through the digitalisation of assets, processes, and documents using its proprietary STACS Blockchain technology. …
December has been a busy but rewarding month for the STACS team as we were joined by friends, clients, and partners at the Singapore Fintech Festival (SGFinTechFest), the world’s largest fintech event which ran from 7–11 December.
In this blog update, we cover some of our key updates from the festival, including showcases in which we collaborated with our clients and partners from leading global financial firms all over the world, and finally our astounding win at the MAS Global FinTech Innovation Challenge Awards 2020.
STACS is proud to once again be a sponsor of the Singapore FinTech Festival. This year, SGFinTechFest was a unique online-offline hybrid, running 24 hours a day across the globe and combining digital and in-person elements. …
SINGAPORE FINTECH COMPANY STACS COMPLETES BLOCKCHAIN PROJECT WITH MALAYSIA’S NATIONAL STOCK EXCHANGE FOR GROWING BONDS MARKETPLACE
Singapore, Malaysia, 3 December 2020 – Singapore’s Fintech technology provider, Hashstacs Pte Ltd (“STACS”), announced today that it has completed the bond on blockchain proof-of-concept (“POC”) with Malaysia’s National Stock Exchange, Bursa Malaysia, to facilitate the growth of the bond marketplace at the Labuan Financial Exchange (“LFX”).
The POC was executed and tested together with Bursa Malaysia, alongside the Labuan Financial Services Authority (“LFSA”), Securities Commission of Malaysia (“SC”), China Construction Bank Corporation Labuan Branch (“CCB Labuan”), CIMB Investment Bank Berhad (“CIMB”) and Maybank Investment Bank Berhad (“Maybank”). …
The Hashstacs Solutions Engineering team set out to implement an authentication and authorization module that would secure all application logins and API access in a secured, scalable and cost-effective manner. We identified the following two security requirements:
· Security Requirement 1: The solution also needed to support integration with Enterprise Identity Providers (IDP) via SAML. [SR1]
· Security Requirement 2: The solution needs to support fine grained access control and user entitlement management. [SR2]
· Security Requirement 3: The developed APIs should not directly be exposed to the public [SR3]
Security access management is commonly split into two concerns: Authentication (AuthN) which identifies who an entity (principal) is, and then Authorization (AuthZ) which is concerned with what level of access or permissions a principal has. The combination of the two is also sometimes referred to as “AuthX”. …
Project was awarded the Financial Sector Technology & Innovation (FSTI) Proof of Concept Grant by MAS
Singapore, Hong Kong, 14 October 2020 — Hashstacs Pte Ltd (also known as “STACS”), a Singapore FinTech company focusing on Blockchain technology solutions for financial institutions, announced its partnership with EFG Bank (“EFG”) to co-develop a Blockchain platform that will enhance and simplify the processes of structured products.
“Project Nathan — Smart Structured Products”, a collaboration between STACS and EFG, uses Distributed Ledger Technology (DLT) to automate and manage the entire lifecycle of a structured product. …
The STACS Solutions Engineering team was looking to build a fully automated service that processes emails to enhance our existing AWS hosted Application service. This automation would allow a user to send emails to our application service where it would then process the data in the incoming email payload before sending the processed data to digest back to the user.
A few considerations came to mind when designing a robust solution that could scale, namely:
THIS WEEK’S TOPIC: Is diversity of directors or their independence the bigger issue in corporate boardrooms?
Below is our Managing Director’s, Benjamin Soh, contribution to Views from the Top in the Business Times:
Companies depend on their directors to provide leadership, guidance and direction. In view of this, the independence of the directors is important in corporate boardrooms in the case of public-listed companies. They should not be an “old boys club” where the directors are merely endorsing what the management proposes.
The directors appointed should ensure that there is no mismanagement of the companies and to safeguard the interests of all shareholders. As an entrepreneur and the founder of Hashstacs, a Singapore fintech company providing enterprise blockchain solutions for financial institutions globally. …