Avinash karn
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Chintai, a Singapore-based blockchain platform-as-a-service (BPaaS) company, has inked a memorandum of understanding (MoU) with Passion Venture Capital (PVC), a Singapore-based venture capital firm, to establish greater collaboration between traditional finance and security token usage.
The Memorandum of Understanding will serve as the cornerstone for future collaborations as part of the convergence of traditional banking and blockchain technology, the parties stated in a statement on Tuesday.
“We are happy to cooperate with PVC by providing a regulated blockchain platform for digital assets tokenisation and a marketplace. “This enables potential clients to accept digital assets with confidence,” stated Chintai Founder David Packham.
“With an on-chain automatic compliance engine incorporated in our solutions, this is the ideal technology for regulated items like bonds, real estate, or funds,” according to the company.
“The staff at PVC are financial veterans, and their knowledge in capital markets makes them a great partner for us,” he added.
“We have a progressive DNA in our firm,” said PVC Chief Executive Officer Davy J. Goh, “and we are enthused about the potential of digital assets in this region.”
“Our strategy is to work within a regulated environment that gives investors and business partners greater assurance.”
An excellent start to 2023 in Singapore for us. Chintai and Passion Venture Capital sign a Memorandum of Understanding to bridge traditional finance with blockchain technology. #chintainetwork #chintai #digitalassets #regulated #tokenisation
https://t.co/6JyazpDhJ2 pic.twitter.com/sYdIRAvWxr— Chintai (@ChintaiNetwork) January 10, 2023
“With the CMS and RMO licences, Chintai can assist clients in navigating the complexities of regulated digital assets with a strong corporate governance structure and complete transparency,” he added.
Chintai is a Singapore firm regulated and licenced by the Singapore Monetary Authority. The Chintai platform, which was founded in 2019, uses blockchain technology to modernise capital markets for banks, financial institutions, and asset managers.
The end-to-end solution provides traditional financial organisations with a one-stop platform that includes a sophisticated automated compliance engine powered by our patented Sentinel-AI solution.
Dynamic issuance, automated compliance, reporting, data reconciliation, cap table administration, automated corporate actions, liquidity, fast settlement, and other services are available from Chintai.
The strategic goal is to connect the worlds of traditional finance and blockchain technology to create a new competitive advantage for our clients.
PVC is a pioneer in Asia in assisting innovative fintech start-ups. Davy J. Goh started the firm, which is a Capital Market Services (CMS) certified Fund Manager.
Goh has almost three decades of expertise in the business, banking, and finance industries, servicing both domestic and international clients. PVC was founded as a result of his passion for investing in and expanding fintechs and innovative enterprises.
