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Blockchain Association Singapore to collaborate with BNY Mellon

Blockchain Association Singapore to collaborate with BNY Mellon

(27 April 2022 – Singapore) Blockchain Association Singapore (BAS) has announced a partnership with BNY Mellon where they will promote blockchain adoption among institutional investors.

The two entities have signed a Memorandum of Understanding (MOU), indicating they will cooperate to advance the global blockchain ecosystem regarding institutional digital assets and decentralized finance (DeFi).

BNY Mellon is one of the 10 financial institutions working with API Exchange (APIX) on ChekFIN, a global Fintech registry developed by ASEAN Financial Innovation Network (AFIN) in collaboration with Boston Consulting Group Fintech Control Tower (BCG FCT) and Temasek-founded Affinidi. This registry, which went live on December 1, 2021, aims to assist financial institutions in identifying and evaluating Fintech companies for collaboration and development opportunities.

“Blockchain technology and its acceptance and usage has been in the ascendancy in recent years, with the blockchain market size slated to grow from USD 4.9 billion in 2021 to USD 67.4 billion by 2026 at a compound annual growth rate of 68.4 percent,” said BAS co-Chairman Chia Hock Lai.

“As the first global custodian bank to be recognized as BAS’ strategic Institutional Digital Asset Collaborator, we are looking forward to contributing to the transformation of the financial landscape with our open and collaborative digital approach,” said BNY Mellon Head of Asia Pacific Innovation Center Johnny Wijaya.

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