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This video shows the integration of STACS Network (Capital Market and Securities Blockchain) and Ubin Network (Payment Blockchain).

Showcased at the Singapore FinTech Festival 2019, Singapore’s Hashstacs Pte Ltd (“STACS”) was unveiled as one of the latest partners in the fifth phase of Project Ubin. In this current phase, the Monetary Authority of Singapore (“MAS”) led the development of a Blockchain-based prototype for multi-currency payments. STACS, the proprietary blockchain developed by Hashstacs Pte Ltd, serves as a platform to process the transaction and payment of securities seamlessly, through its cross-chain integration with Project Ubin’s payments network. This integration was successfully showcased live at the Singapore FinTech Festival and Singapore Week Of Innovation and Technology (SFF x SWITCH) 2019.

Phase 5 of Project Ubin aims to achieve 2 milestones. One, develop a production-ready multi-currency payments network on blockchain. And two, integrate different blockchain platforms commercially used in the market today.

As various financial institutions and technology companies today are utilising different types of blockchain platforms, Phase 5 will be focusing on how to effectively bridge various blockchain platforms while harnessing the full potential of each of the respective platforms. In line with this, STACS has developed instant processing and settlement capabilities of various digitised securities (digitised versions of traditional equities, bonds and foreign exchange currencies) on STACS Blockchain, and integrated with Project Ubin.

The STACS showcase paves the way for the industry’s progress in the pursuit of instant DvP (Delivery vs Payment) of securities against currencies, through applied blockchain. With recent reports of blockchain adoption in the capital markets, STACS serves as a bridging solutions partner. STACS hopes to garner more companies to participate within the payments network of Project Ubin through its proprietary blockchain as the bridging platform.

STACS foresees more market participants moving away from engaging in isolated pilot trials and transiting towards commercial operations in the coming future. Most recently, STACS serves as the blockchain solution providing a full suite of services across different use cases in various blockchain projects with multiple stock exchanges and commercial banks in both the EU and Asia.

Singapore’s own STACS is one of the few companies internationally at present with the resources to digitise the entire lifecycle of traditional securities in the capital markets on blockchain. STACS’ end-to-end blockchain services encompass digitising the issuance and maturity of traditional securities, to processing the movement of securities across various stakeholders.

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Website: https://www.stacs.io
LinkedIn:   / hash.  .
Medium:   / hashstacsmed  
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