Bitpanda and Raiffeisen innovate banking with blockchain
It is hoped that Raiffeisen, which is currently active in 13 European markets and serves over 16.7 million customers, will enable both the development of Pantos and allow a more ‘tech-agnostic’ environment for banking regarding blockchain.
Unifying the fragmented blockchain
Raiffeisen will trial the technology via its experimental RBI Coin, a next-gen digital cash solution designed to streamline cash flow and liquidity management. Its collaboration with Bitpanda is an attempt to address far-reaching industry challenges relating to blockchain interoperability.
“We see a lot of competing protocols, not only from the cryptocurrency space but also from tech-companies, banks and governments. The question of how to unite all those protocols still remains unanswered,” commented Paul Klanschek, Co-Founder and CEO of Bitpanda.
“The Pantos project aims to offer a unifying solution for the fragmented blockchain and cryptocurrency space. After a purely research and proof-of-concept-focussed mode, we are now extremely excited to enter a partnership with RBI to bring our technology to their RBI Coin.”
Furthermore, Raiffeisen believes that the success of the Pantos project will represent a significant development in the ongoing debate regarding asset tokenisation in modern finance. Christian Wolf, Head of Strategic Partnerships & Ecosystems, explains:
“The Pantos technology plays an integral role in making the tokenisation of assets a reality within our banking group by bringing in the interoperability aspect thus allowing for even more extensive and flexible use cases for banking customers.”
As the conversation on crypto and blockchain-based currencies continues to be decided on of the Atlantic, the potential for Pantos to solve one of modern banking’s main tech problems makes it an exciting project to monitor.
Singapore FinTech Association launches new networking club
The Singapore FinTech Association (SFA) has announced the launch of a new SG FinTech Club, which will act as hub that enhances networking among local fintech companies based in Singapore.
The APAC nation, which is a leading regional centre for fintechs, accounting for 13% of Singapore’s GDP in 2020. More than 1,400 fintech companies are based there, employing an estimated 10,000 people.
Technology is a driving factor within the space, and the SG FinTech Club will act as a base through which knowledge, resources and connections can be shared, as a way to increase the level of expertise in the space.
According to reports, the SFA will also develop and curate the engagement programmes for the fintech ecosystem. SG FinTech Club members will benefit from hospitality privileges offered by Supporting Partners , such as co-working spaces, which they can leverage on for social engagements.
The club’s existing membership platform will also enable users to sign up for talent matchmaking sessions, industry expert mentorship programmes, and masterclasses organised by SFA.
SG Fintech Club partnerships
The initiative has attracted the attention of several global fintech leaders, including the Institute of Banking and Finance (IBF). J.P. Morgan has also joined the club as Supporting Partner and Corporate Partner, respectively, to develop skills and career development events.
Speaking about the launch of the new club, Shadab Taiyabi, President of SFA, explained, “We are proud to collaborate with MAS on the launch of SG FinTech Club, and play our part in contributing to Singapore’s thriving FinTech ecosystem.
“We hope that the Club would be the key platform for inspiration and innovation, where professionals in the financial services sector can come to exchange opinions, network, and explore endless ideas with other like-minded individuals.
He continued, “Through the Club, we strive to champion and bolster Singapore’s FinTech entrepreneurship growth, facilitate the sharing of insights, collaborations, discussions and advocate the importance of upskilling amongst professionals across the financial services industry.”
Image credit: Singapore FinTech Association event