{"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

\"Blockchain<\/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

A fiat smart contract that will allow customer to buy and sell crypto<\/span><\/span> using their SEPA bank account is expected to launched soon. Another project with a crypto payment software provider, <\/span><\/span>Salamantex<\/span><\/span><\/a><\/u><\/span>, is subjected to regulatory approval that will enable consumers to pay in crypto to a merchant who even does not accepts cryptocurrencies.<\/span><\/span><\/p>\n

Matthias von Hauff, CEO of TEN31 Bank, commented:<\/span><\/span><\/p>\n

\u201cWith Anquan as a shareholder, we have added yet another ideal partner to our network. Not only do we benefit from their excellent technologies, but we also secure a spearhead in the Asian region in the long term.\u201d<\/b><\/i><\/span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

The fintech arm of WEG Bank that operates under brand name of TEN31, has partnered with Anquan Capital, a Singapore-based group of technology companies, to jointly explore opportunities offered by blockchain technology in banking and financial sector.<\/p>\n","protected":false},"author":14,"featured_media":20088,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[74,102,84],"tags":[4620,5001],"_links":{"self":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/25743"}],"collection":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/comments?post=25743"}],"version-history":[{"count":0,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/25743\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media\/20088"}],"wp:attachment":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media?parent=25743"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/categories?post=25743"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/tags?post=25743"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}