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Singapore’s new efforts drum up its blockchain ecosystem

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Government-backed Tribe in collaboration with Infineon is fostering innovation and scaling up blockchain

Infineon and Tribe, the first Singapore government supported blockchain ecosystem builder, are collaborating to further strengthen the Singapore blockchain ecosystem. Tribe accelerator brings together government agencies, corporates and blockchain companies to foster innovation and collaboration.

Goh Say Yeow, vice president, Connected Secure Systems, Infineon Technologies Asia Pacific, told the media,  “Blockchain is moving beyond Fintech into areas as diverse as logistics, brand protection, online shopping and gaming platforms. Tribe’s OpenNodes give us access to a vibrant blockchain ecosystem and allow Infineon to showcase our SECORA™ Blockchain Security Solutions. We are honoured to be part of Tribe and are excited to collaborate with them on several fronts, such as supporting OpenNodes-led initiatives as a founding member and working with Tribe Academy to identify promising tech talents. I look forward to exploring business opportunities together in the emerging blockchain verticals with leading ecosystem players.”

Singapore-based fintech startup Hashtacs, also known as STACS, announced last month that it will co-develop a blockchain platform to enhance the processes of structured products. STACS will develop the blockchain platform in partnership with Swiss EFG Bank (EFG).

STACS blockchain project, also known as ‘Project Nathan – Smart Structured Products’, is aimed at developing a widespread use of Distributed Ledger Technology (DLT) to automate and manage the entire lifecycle of a structured product. Currently, the project is in its first phase of development.

Ivan Ferraroni, managing director of EFG Bank, Hong Kong told the media, “Working with STACS has been very smooth and seamless, and we certainly managed to learn from each other. The project is innovative, demonstrates significant efficiency gains and can be extended to other asset classes in the future.”

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