{"id":25743,"date":"2020-05-16T09:44:48","date_gmt":"2020-05-16T07:44:48","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=25743"},"modified":"2023-08-29T10:15:47","modified_gmt":"2023-08-29T10:15:47","slug":"german-weg-bank-partners-with-a-singapore-based-technology-group-to-blockchain-for-banking-and-finance-sector","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/german-weg-bank-partners-with-a-singapore-based-technology-group-to-blockchain-for-banking-and-finance-sector\/","title":{"rendered":"German WEG Bank Partners With a Singapore-Based Technology Group to Blockchain For Banking and Finance Sector"},"content":{"rendered":"
The fintech arm of WEG Bank that operates under brand name of <\/span><\/span>TEN31<\/span><\/span><\/a><\/u><\/span>, has partnered with <\/span><\/span>Anquan Capital<\/span><\/span><\/a><\/u><\/span>, a Singapore-based group of technology companies, to jointly explore opportunities offered by blockchain technology in banking and financial sector.<\/span><\/span><\/p>\n WEG Bank made the <\/span><\/span>announcement<\/span><\/span><\/a><\/u><\/span> in a tweet posted on its Twitter feed on Friday, May 15<\/span><\/span>th<\/span><\/span><\/sup>. According to an official <\/span><\/span>announcement<\/span><\/span><\/a><\/u><\/span> available to media, both partners will announce specific projects over time. WEG Bank said that the legal frame that had been in place since the start of 2020 would play a roll in collaboration and, therefore, it has adjusted itself accordingly at an early stage.<\/span><\/span><\/p>\n Anquan Capital is a group of technology companies rooted in deep scientific research. The group is involved in the launch of many innovative blockchain projects including <\/span><\/span>Zilliqa<\/span><\/span><\/a><\/u><\/span>, a high-throughput, high-performance blockchain for next-generation enterprises and applications, Anqlave, blockchain company developing custody and secure data storage solutions for enterprises, and Aqilliz.<\/span><\/span> TEN31 will implement joint projects with these companies in the future.<\/span><\/span><\/p>\n <\/p>\n Max Kantelia, CEO of Anquan, said:<\/span><\/span><\/p>\n \u201cI’ve always said that bringing blockchain into the mainstream requires a concerted, multi-sectoral effort by legacy institutions, emerging tech companies, and regulators. 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.\u201d<\/b><\/i><\/span><\/span><\/p>\n WEG Bank or TEN 31, based in Ottobrunn, Deutschland, aims to bridge the gap between conventional banking and the blockchain world. The bank is developing itself into a<\/span><\/span> specialist institute for blockchain-related FinTech companies. The company has announced a number of crypto-focused project to be launched in 2020.<\/span><\/span><\/p>\n