Dear clients and business partners,
Welcome to our monthly update, we hope you are all doing well and having a nice summer! We are pleased to share some important initiatives that STACS had participated in during the month of August.
These include our involvement as part of the International Securities Services Association (ISSA) DLT working group and our contributions to the community. We are delighted to share more details here
STACS had the opportunity to participate in the “DLT in the Real World” industry-wide survey organized by ISSA in collaboration with the ValueExchange, through the ISSA DLT Working Group. The survey gave insight into how DLT is being utilized across the industry and the challenges associated with the adoption of DLT, and we are encouraged by the results of the survey which found that 79% of the firms in the financial industry have dedicated resources to DLT today.
In addition, STACS was invited by the ISSA DLT WG to share a presentation on our practical approach towards DLT adoption. During the sharing session, we highlighted the need to build minimal viable ecosystems together with various participants and partners, to view DLT from a product–problem lens and use our approach of cost subsidizing to help institutions adopt the technology without CAPEX investments. A special mention was also made towards the proactive and positive regulatory framework adopted by the Monetary Authority of Singapore (MAS). Presentation here
STACS was also invited to participate at the Ngee Ann Polytechnic’s Fintech Day event alongside the Monetary Authority of Singapore. The event covered a series of sessions on Fintech topics. STACS shared with the students its vision on blockchain technology, the risks, and the impact on the future of the economy. We highlighted a journey on co-developing blockchain platforms with financial institutions and described how STACS continues to support the financial industry to increase DLT adoption in the new normal during the pandemic.
We were also delighted to join the inaugural SFA-ITE FinTech Day 2020. We made a presentation on the topic “Power of Blockchain in Finance” to over 400 attendees. Held in collaboration with the Singapore FinTech Association (SFA) and the Institute of Technical Education, STACS interacted with the students during the Qs & As session and staged a mini quiz that tested the students on their Fintech knowledge. We were pleased to share our vision, knowledge, and perspectives to our future generation and stoke their curiosity and creativity in the new digital technologies.
It is our privilege to be part of these meaningful initiatives and to share our know-how and experience with both the financial industry and the general community, while concurrently supporting DLT adoption globally.
Thank you for your partnership as always!