#STACS is proud to have made
valuable contributions to key industry projects
Dear clients and business partners,
Welcome to our monthly update, we hope you are all doing well! We are delighted to share with you some meaningful contributions that STACS has made in the financial industry recently.
The Monetary Authority of Singapore (MAS) and Temasek have published the report on the fifth and final phase of Project Ubin: “Enabling Broad Ecosystem Opportunities”. It highlights the value of the blockchain-based multi-currency payments network and its commercial potential for the financial industry.
STACS is honored to be a participant in the Phase 5 Ubin project. We effectively demonstrated how the functionality in Ubin payments network can be implemented to enable instant Delivery vs Payment of bonds and payments on blockchain, through an integration with the STACS platform which financial institutions use for the issuance and lifecycle management of digital securities.
The platform enables institutions to issue bonds and accept instant payment of funds via the Ubin payments network. The key benefit is to reduce the settlement cycle, provide major efficiencies, and secure the payments flow, delivering a major digitalisation benefit for the lifestyle management of bonds. Full report here
eparately, we have partnered with Bursa Malaysia Berhad on a blockchain project named “Project Harbour” for its Bonds marketplace.
The primary focus of Project Harbour is on Bursa Malaysia’s Central Securities Depository (CSD) and its role in facilitating the growth of the bond marketplace in Malaysia. The project will take place in Malaysia’s offshore market, Labuan, in collaboration with the Labuan Financial Exchange (LFX), a wholly-owned subsidiary of Bursa Malaysia.
Bursa Malaysia, alongside the Securities Commission of Malaysia, Labuan Financial Services Authority, CIMB Investment Bank Berhad, Maybank Investment Bank Berhad, and China Construction Bank Corporation Labuan Branch, will utilize the Trident Platform built by Hashstacs to manage the end to end trade lifecycle management of digital bonds.
Project Harbour is a significant advancement and initiative in the market. By working with the national stock exchange and the ecosystem participants, Hashstacs hopes to aid in the growth of the bond marketplace in Malaysia.
STACS will continue spearheading a greater increase of DLT adoption in the industry. At present, we are working with a number of financial institutions on several projects. We stand ready supporting them by using blockchain technology and partner them in their digitalisation journey.
Thank you for your strong support!
Yours sincerely,
Benjamin Soh
Managing Director