Blockchain
Digital Economy of the Future: FORMS HK Unveils FINNOSpace in Support of the HKMA’s Fintech 2025 Strategy
FORMS HK, a cross-border FinTech Thought Leader, Incubator and Enabler, has unveiled its new FORMS FinTech Innovation Centre (“FINNOSpace”), echoing the Fintech 2025 strategy of the Hong Kong Monetary Authority (“HKMA”). FINNOSpace will help Hong Kong strengthen its position as an international finance hub amid the digital transformation of the finance world.
With access to Hong Kong’s global financial industry expertise and world-class scientific research talents in Shenzhen, China’s innovation engine, the Greater Bay Area (“GBA”) is the ideal springboard for global FinTech innovation. Recognizing its unique potential, FORMS has positioned the new FINNOSpace at the core of its strategy to support the future growth of the industry. FINNOSpace will become a hub to acquire and develop world-class FinTech talents and conduct visionary FinTech research to make Hong Kong the centre of gravity for future innovations. This is in line with the HKMA’s mission to expand the fintech-savvy workforce and nurture the fintech ecosystem. FORMS HK is the first to answer the HKMA’s call for the establishment of more fintech labs to promote fintech development under the Fintech 2025 strategy.
“In today’s digital economy, the world is seeking more from its financial centres than IPOs. FinTech innovation capability is a key enabler for any international hub looking to shape the future of banking and finance, whilst contributing to a more sustainable, inclusive and greener world. At FORMS HK, we believe FINNOSpace will unleash Hong Kong’s potential for the next generation of global banking and finance,” said Alex Chan, CEO at FORMS HK.
“It gives me great pleasure to witness the launch of FORMS HK’s FINNOSpace, a fintech innovation lab established in response to our Fintech 2025 strategy announced in June. The unveiling of FINNOSpace is in line with our carefully devised strategy to expand the fintech-savvy workforce and build a robust fintech ecosystem. The HKMA has every confidence that the setting up of innovation centres and research laboratories like FINNOSpace will foster the development of innovative solutions and create opportunities for fintech talents, and help consolidate Hong Kong’s position as an international finance hub under the new context of a digital economy,” said Nelson Chow, Chief Fintech Officer of the HKMA.
FINNOSpace fosters collaborations and conducts visionary FinTech research
In line with the HKMA’s Fintech 2025 strategy, FORMS HK’s FINNOSpace will work with research partners on five key segments to support FinTech development in GBA and in the global stage. One of the focus areas of the Fintech 2025 strategy is to future-proof Hong Kong for CBDCs. In the Blockchain Innovation Centre, FORMS HK and its research partners will explore the use of digital assets and CBDCs at the wholesale and retail levels, as well as prototype new ways that blockchain technology can be used to manage digital assets. Meanwhile, its Green Finance segment will explore new evolving business and operating models, recommend standards and practices to facilitate financial inclusion, and pilot technologies and practices to automate ESG data collection, insight discovery and regulatory reporting.
In the Digital Experience Studio, FINNOSpace will research client experience trends to uncover the desirable digital experiences needed for financial inclusion, and explore the latest and evolving technologies to further improve and optimise the digital experience. Lastly, FINNOSpace’s Composable Banking CoE arm will be responsible for developing distributed technologies, standards, and components that facilitate open banking and API economy adoption. All four of these segments are supported by a cutting-edge AI and Data Analytics Centre that stimulates technology adoption and enables FinTech applications through data collection, analysis and reporting infrastructure.
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Blockchain
Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)
Blockchain technology continues to drive innovation across industries, reshaping finance, infrastructure, and philanthropy. Today’s news roundup explores exciting developments in blockchain ETFs, tokenization funding, quantum-resistant chips, public blockchain initiatives, and impactful social projects. Here’s a deep dive into the latest blockchain headlines:
BlackRock ETF Embraces Blockchain with First Muni Bond Purchase
BlackRock’s blockchain-focused ETF has made its first foray into municipal bonds, signaling increased confidence in integrating blockchain technology with traditional finance. The ETF’s strategic investment demonstrates how blockchain can enhance transparency and efficiency in bond markets.
By tokenizing municipal bonds, BlackRock aims to simplify trading and settlement processes while reducing associated costs. This development underscores the growing role of blockchain in transforming financial instruments and fostering greater market accessibility.
Source: Yahoo Finance
Plume Secures Funding for Tokenization Platform
Blockchain fintech company Plume has raised significant funding to advance its tokenization platform. The company’s innovative approach enables businesses to convert real-world assets into digital tokens, streamlining asset management and unlocking liquidity.
Tokenization is rapidly gaining traction as a game-changer in sectors such as real estate, art, and commodities. Plume’s success reflects a broader trend of investment in blockchain solutions that bridge the gap between traditional assets and decentralized technologies.
Source: Fortune
SEALSQ and Hedera Partner for Quantum-Resistant Blockchain Chips
SEALSQ and Hedera have announced a groundbreaking collaboration to develop quantum-resistant chips designed to secure blockchain infrastructure. These advanced chips will provide robust protection against future quantum computing threats, ensuring the integrity of blockchain networks.
As quantum computing capabilities evolve, safeguarding blockchain ecosystems becomes increasingly critical. This partnership highlights the importance of proactive measures in maintaining the resilience and trustworthiness of decentralized systems.
Source: The Quantum Insider
Deutsche Bank’s Public, Permissioned Blockchain Initiative
Deutsche Bank’s Layer 2 blockchain solution is set to go public and operate as a permissioned network, according to its tech partner. This initiative aims to strike a balance between accessibility and security, leveraging blockchain to streamline financial services and enhance operational efficiency.
The decision to adopt a public, permissioned model reflects a growing trend among enterprises seeking to harness the benefits of decentralization while maintaining control over sensitive data. Deutsche Bank’s approach could serve as a blueprint for other financial institutions exploring blockchain adoption.
Source: CoinDesk
KuCoin’s “Light Up Africa” Initiative Brings Hope to Thousands
Cryptocurrency exchange KuCoin has made a significant impact through its “Light Up Africa” donation ceremony in Ghana, benefiting 36,000 children across the continent. The initiative combines blockchain technology with philanthropy to address energy poverty and support education.
By leveraging blockchain for transparency in charitable contributions, KuCoin sets an example of how the crypto industry can drive meaningful social change. The project demonstrates the potential of blockchain to empower communities and foster sustainable development.
Source: PR Newswire
Industry Implications and Key Takeaways
Today’s developments highlight the transformative potential of blockchain across multiple domains:
- Integration with Traditional Finance: BlackRock’s ETF underscores the synergy between blockchain and established financial systems.
- Tokenization Trends: Plume’s funding success reflects the growing demand for digital asset solutions.
- Quantum-Resistant Technologies: SEALSQ and Hedera’s partnership addresses emerging cybersecurity challenges.
- Enterprise Blockchain Adoption: Deutsche Bank’s public, permissioned network showcases the adaptability of blockchain in financial services.
- Social Impact: KuCoin’s philanthropic efforts illustrate blockchain’s capacity to drive positive societal outcomes.
The post Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin) appeared first on News, Events, Advertising Options.
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