STACS’ Soh: “The regulated trading space and DeFi will converge down the road”

According to Hashtacs (STACS) co-founder and managing director Benjamin Soh, there is a need to improve outdated operating models by providing a processing infrastructure that would take head-on the challenges posed by interdependent manual processing, and multiple layers embedded in different systems. Improving an operating model that’s half-a-century old is a challenge, but this is the mission that fintech startup Hashstacs (STACS) has set for itself. According to co-founder and managing director Benjamin Soh, STACS will do that by providing a processing infrastructure that would take head-on the challenges posed by interdependent manual processing, and multiple layers embedded in different systems that are still being used by the decades-old model utilised by financial institutions today. STACS is focused on working on different projects with other clients to overcome some of the fragmentation issues involving distributed ledger technology (DLT), Soh pointed out. In fact, the company just completed its ‘bond-in-a-box’ proof-of-concept on the use of DLT for digital assets and sustainability-linked bonds, in collaboration with Bursa Malaysia, Union Bank of the Philippines and UBS. “We welcome more innovation in the sector. It’s going to be just synergistic to everyone,” noted Soh. Here are the key points that were discussed during the interview: ●‘Bond-in-a-box’ was developed with the idea that all services that the market will require – issuance, custody, asset servicing – will be available within one DLT platform. ●A collaboration with EastSpring Investment and BNP Paribas will develop a blockchain-powered trade lifecycle management solution. ●STACS is targeting ASEAN+3 for further growth and bring in more strategic partners on board ●Soh sees traditional finance, DeFi, and a hybrid of the two co-existing at the same time ●He predicts a “big bang” of multiple projects going online at the same time within the next 12 months. Read the full transcript here: https://bit.ly/3Bdi2FE #ESG #DLT #Bondinabox #API #CSD #Asean3 #ProjectBenja #ProjectUbin #Libra #Diem #Partio #CRM #Fintech #Solidity #Ethereum #Defi #Cryptocurrencies #Tesol

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