New partners Deutsche Bank, Bursa Malaysia, and PwC Singapore under the leadership of new STACS Chairman, Former Standard Chartered Singapore CEO Ray Ferguson
Dear Valued Clients & Business Partners,
Happy 2021! We are excited to enter the new year with you. At STACS, 2020 was the stress test that proved our value proposition: Transformative Technology for the Financial Industry. In spite of the challenging pandemic, STACS has seen remarkable growth and continues to achieve many milestones and prestigious awards.
Starting 2021 strong, we are pleased to announce our new partners — Deutsche Bank, Bursa Malaysia, and PwC Singapore. Finally, former Standard Chartered Singapore CEO Ray Ferguson joins the STACS team as new Chairman!
Digital assets collaboration with Deutsche Bank awarded Financial Sector Technology and Innovation (FSTI) grant by the MAS
STACS is partnering with Deutsche Bank on a Digital Assets project for Securities Services, exploring the technological and practical feasibility for interoperability, liquidity, cross-border connectivity, and smart contract templates, including the support of sustainability-themed digital bonds. For the project, STACS is proud to be awarded the FSTI grant under the Financial Sector Development Fund administered by the Monetary Authority of Singapore (MAS).
Completion of blockchain project with Malaysia’s National Stock Exchange for growing bonds marketplace
STACS has successfully completed our blockchain project with Bursa Malaysia to facilitate the growth of the bond marketplace at the Labuan Financial Exchange (LFX).
A first of its kind in Asia Pacific, the project focused on building awareness of technology potentials and exploration of new service offerings. Using our live institutional Trident platform, bond templates were mirrored onto smart contracts for rapid deployment, while operational workflows were streamlined to increase efficiency and flexibility in settlement cycles. Overall, the project proved the value of an end-to-end industry platform for issuance, trading, settlement and depository of bonds for all market participants, including CCB Labuan, CIMB, and Maybank.
STACS joins the PwC Singapore family
STACS is proud to become a portfolio company of PwC Singapore Venture Hub, which will bring about synergies between the two firms while helping to elevate trust placed in DLT by the financial services industry and driving adoption. We are excited to be working closely together to drive great solutions for the industry and providing our transformative technology to create value for all market participants.
Former Standard Chartered Singapore CEO Ray Ferguson joins STACS as Chairman in period of strong growth, driving GreenSTACS
We are excited to have Ray join the STACS team to share with us his capital market knowledge and network. With our recent award wins and remarkable growth, key upcoming plans under Ray’s leadership will include embarking on a fund raise later this year to scale the business, onboarding more strategic investors, and furthering our ecosystem expansion with more industry partners, especially in connection with the theme of ESG and green fintech.
At STACS, we remain committed to empowering financial institutions to unlock massive value presently locked up in inefficient systems and processes through transformative technology.
This year, a key focus for us is our GreenSTACS technology, which allows financial institutions to employ effective ESG financing with smart contracts, manage usage of proceeds effectively, and ensure transparent real-time tracking and impact reporting of green assets on distributed ledger technology (DLT).
Stay tuned for more exciting updates and remember you can also connect with us directly to find out more!