Anquan Capital, a Singapore-based group of technology companies, has teamed with TEN31 Bank, the FinTech arm of the German WEG Bank AG, to explore blockchain applications for banking and financial services.
Anquan was founded in 2015 with the goal of incubating and taking-to-market technology companies based upon original academic research. The company has launched a number of technology companies including Zilliqa, Anqlave and Aqilliz.
TEN31 Bank focuses, in particular, on the everyday usability of digital currencies with the aim of providing true added value for all parties involved. TEN31 aims to become the bridge between conventional banking and the blockchain world.
As part of the Anquan Capital partnership, TEN31 Bank will implement joint blockchain projects with Zilliqa, Anqlave and Aqilliz in the future.
“With Anquan as a shareholder, we have added yet another ideal partner to our network,” said Matthias von Hauff, CEO of TEN31 Bank. “Not only do we benefit from their excellent technologies, but we also secure a spearhead in the Asian region in the long term.”
According to the release, the partnership will enable the companies to develop services in the financial sector that require a solid regulatory framework.
“I’ve always said that bringing blockchain into the mainstream requires a concerted, multi-sectoral effort by legacy institutions, emerging tech companies, and regulators,” said Max Kantelia, CEO of Anquan. “That’s why Ten31’s forward-thinking strategy and its clear role as a regulated bridge between the legacy and blockchain holds enormous appeal for me. Today, we can see blockchain creeping from the fringes of a technology sector that few understand, and into our daily lives. It is a perfect time to collaborate with TEN31 to explore how unlocking the potential of DLT technologies could accelerate digital transformation and revolutionise finance for everybody.”
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