How much good can FINTECH do for the financial sector?
Financial institutions around the world face a variety of issues.
These issues could stem from policies (they almost always start with policies) made by the institutions themselves or presiding governments.
It comes as no news that these policies often times have ripple effects on clients and other random individuals
A couple of forward-thinking nations are beginning to realize that by harnessing some protocols of blockchain technology, they could make some headway in solving these problems.
One of these forward-thinking nations is Singapore.
Singaporean government, through the help of Hashstacs Pte (STACS), is developing a blockchain platform that could improve the financial infrastructure.
STACS, through the help of the Singaporean government-supported blockchain startup, Tribe Accelerator, in participation with Wavemaker Partners was able to raise $3.6 million in pre-series A funding.
STACS has created a secure layer that can be deployed above existing infrastructure. This innovation is set to help financial institutions in Singapore, and hopefully in turn the world, process large volume transactions faster, safer, and precisely while reducing illiquid capital and costs.
Ever since its creation in 2019, STACS has searched for innovative measures to improve the technological infrastructure of the financial sector.
All things being equal, this innovation will see an improvement in not only the financial sector but other sectors in the long run.
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