DLT Integrations with Payment Systems
“New systems for data sharing and payments flexibility could spur innovation”
STACS Blockchain Integration with Payment Systems
Firms needs to be assured of a ensure seamless continuation of business operations, through a compatible integration between the existing institutional system and new DLT infrastructure
A silo-ed environment often results in low liquidity
STACS has the ability to integrate with both existing payment systems and platforms, to ensure the full benefits of DLT and a seamless business continuity experience
The potential for a larger liquidity hub arises with more flexibility of payment methods and systems, and lower intermediation between multiple currencies. Payment variations could now consist of existing payment systems usage as well as new DLT multi-payments networks.
The Intermediary Utilises STACS Technologies For DLT Benefits
All Parties Utilise STACS Technologies For DLT Benefits:
Information is broadcasted to all or chosen parties in the network
Learn More About Project UBIN
MONETARY AUTHORITY OF SINGAPORE
Beyond technical experimentation, the current phase of Project Ubin, Phase 5, sought to determine the commercial viability and value of the blockchain-based payments network…
The first cohort of blockchain applications that were tested successfully were showcased at the Singapore FinTech Festival 2019. This included projects by industry partners like…Hashstacs…to test out integration with the Ubin prototype network for transaction processing.
Singapore enterprise-blockchain technology provider STACS joins current phase of Project Ubin.
“We are honoured to play a historic role in the international development of blockchain standards. To be integrated with Project Ubin confers great responsibility and trust. STACS has showcased that digitising the financial markets on blockchain is commercially viable given our direct involvement in Project Ubin,” said Jay Ng, Managing Director of STACS.
STACS worked closely with the Accenture team and the Ubin APIs to design and develop a scalable, production-ready
architecture that would deliver on both business requirements as well as customer experience.