Singapore-based fintech STACS raises $3.6M to develop blockchain platforms for financial institutions

Tech Crunch2021-04-20

Singapore-based fintechHashstacs Pte Ltd (STACS)announced today it has raised $3.6 million USD in pre-Series A funding. The company develops blockchain platforms that can work with financial ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

mootaromama
2021-04-20
mootaromama
Another blockchain in the making
Donggeun
2021-04-20
Donggeun
comment
Miamisea
2021-04-20
Miamisea
Cool
Chinleong
2021-04-20
Chinleong
Blockchain projects are on the rise in this technology era.
- KeithNiceGuy:
  Will it improve life in sg?
WLtan
2021-04-20
WLtan
Awaiting
claratan
2021-04-20
claratan
Nice

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/1146262593?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2021-04-20 17:17","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1146262593","market":"sg","top_or_hot":-1,"title":"Singapore-based fintech STACS raises $3.6M to develop blockchain platforms for financial institutions","media":"Tech Crunch","content":"<div>\n<p>Singapore-based fintechHashstacs Pte Ltd (STACS)announced today it has raised $3.6 million USD in pre-Series A funding. The company develops blockchain platforms that can work with financial ...</p>\n\n<a href=\"https://techcrunch.com/2021/04/19/singapore-based-fintech-stacs-raises-3-6m-to-develop-blockchain-platforms-for-financial-institutions/\">Source Link</a>\n\n</div>\n","source":"lsy1615977248280","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Singapore-based fintech STACS raises $3.6M to develop blockchain platforms for financial institutions</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSingapore-based fintech STACS raises $3.6M to develop blockchain platforms for financial institutions\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-20 17:17 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://techcrunch.com/2021/04/19/singapore-based-fintech-stacs-raises-3-6m-to-develop-blockchain-platforms-for-financial-institutions/><strong>Tech Crunch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Singapore-based fintechHashstacs Pte Ltd (STACS)announced today it has raised $3.6 million USD in pre-Series A funding. The company develops blockchain platforms that can work with financial ...</p>\n\n<a href=\"https://techcrunch.com/2021/04/19/singapore-based-fintech-stacs-raises-3-6m-to-develop-blockchain-platforms-for-financial-institutions/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":null,"symbol_name":null,"start_time":0,"source_url":"https://techcrunch.com/2021/04/19/singapore-based-fintech-stacs-raises-3-6m-to-develop-blockchain-platforms-for-financial-institutions/","article_id":"1146262593","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1146262593","pubTimestamp":1618910271,"sourceInfo":{"source_id":"lsy1615977248280","name":"Tech Crunch"},"weMediaInfo":null,"summary":"Singapore-based fintechHashstacs Pte Ltd (STACS)announced today it has raised $3.6 million USD in pr","collect":0,"end_time":0,"defaultTopTitle":"techcrunch.com","property":[],"viewcount":null,"language":"en","relate_stocks":{},"translate_title":"新加坡fintech STACS融资360万美元为金融机构开发区块链平台","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{},"content_text":"Singapore-based fintechHashstacs Pte Ltd (STACS)announced today it has raised $3.6 million USD in pre-Series A funding. The company develops blockchain platforms that can work with financial institutions’ existing infrastructure, and its core technology is also used in GreenSTACS for environmental, social and governance (ESG) investments. The round was led by Wavemaker Partners, which focuses on enterprise and deep tech companies in Southeast Asia, with participation from the Tribe Accelerator, a program for blockchain startups backed by the Singaporean government. STACS participated in Tribe last year, along with Project Ubin, the Monetary Authority of Singapore’s blockchain-based multi-currency payments network initiative.Founded in 2019, STACS has now raised a total of more than $6 million and is preparing to raise Series A funding later this year. The company’s goal is to fix fragmentation in the tech systems used by financial institutions that can result in capital being locked in international clearing systems, a build-up of transaction fees and fines for trades that fail to settle. Its core solution is atechnology stackthat is built around STACS blockchain. It allows clients to integrate payment platforms (including Ubin), trading platforms and external software like user management systems, while enabling smart contracts and digital ledgers.STACS’ products include a real-time trade processing platform that is used by clients like Eastspring Investments and BNP Paribas Securities Service. Some of its other clients are Deutsche Bank, Bursa Malaysia, EFG Bank and Bluecell Intelligence. STACS co-founder and managing director Benjamin Soh told TechCrunch that STACS is targeting a network of more than 30 institutions by the end of this year.GreenSTACSlaunched last monthin a collaboration with Bluecell Intelligence to help companies certify and monitor green and sustainability-related loans and bonds.Soh said in an email that STACS received many requests from financial institutions that needed to perform impact monitoring on ESG projects, but were not able to do so effectively because “information sources are asymmetric, there is no common data infrastructure and serving of ESG financing is typically too inefficient.”STACS’ goal is to make GreenSTACS “the common infrastructure” for ESG financing and impact monitoring, he added. The platform enables loan and bond parameters to be programmed into security tokens and connects with data sources, like IoT devices or satellite images, to create real-time impact reports on a distributed ledger. This helps prevent “greenwashing,” a term that refers to making something seem more environmentally-friendly or sustainable than it really is.“Essentially, this would boost investors’ and banks’ confidence with green financing by ensuring green money is strictly used in achieving pledged green goals and policies,” said Soh.In a press statement, Wavemaker general partner Gavin Lee said, “There is an immense opportunity to help financial institutions process large volumes of trade more quickly, securely and accurately while reducing costs and illiquid capital. As an enterprise distributed ledger technology provider, STACS has productized a secure layer that can be deployed instantly above existing infrastructure. Enterprise sales is never easy for young companies, but Benjamin is a convincing and seasoned serial entrepreneur who has secured numerous leading financial institutions as key clients.”","kind":null,"is_publish_news":false,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":371361130,"gmtCreate":1618912134420,"gmtModify":1704716748586,"author":{"id":"3580330414173534","authorId":"3580330414173534","authorIdStr":"3580330414173534","name":"mootaromama","avatar":"https://static.tigerbbs.com/bb145c21debe1e80b416fb6027863fd5","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3580330414173534"},"htmlText":"Another blockchain in the making","listText":"Another blockchain in the making","text":"Another blockchain in the making","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/371361130","repostId":1146262593,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":371383084,"gmtCreate":1618911137248,"gmtModify":1704716732592,"author":{"id":"3577259956378690","authorId":"3577259956378690","authorIdStr":"3577259956378690","name":"Donggeun","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3577259956378690"},"htmlText":"comment","listText":"comment","text":"comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/371383084","repostId":1146262593,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":371317142,"gmtCreate":1618910912886,"gmtModify":1704716728680,"author":{"id":"3569807471589082","authorId":"3569807471589082","authorIdStr":"3569807471589082","name":"Miamisea","avatar":"https://static.tigerbbs.com/eb32ce02144b629c532de4a404420228","vip":1,"hat":"https://static.tigerbbs.com/646756f1284a5a6480ed02cc4fa7d1d2","crmLevel":2,"crmLevelSwitch":1,"idStr":"3569807471589082"},"htmlText":"Cool","listText":"Cool","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/371317142","repostId":1146262593,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":371314549,"gmtCreate":1618910848881,"gmtModify":1704716727048,"author":{"id":"3559098973692807","authorId":"3559098973692807","authorIdStr":"3559098973692807","name":"Chinleong","avatar":"https://static.tigerbbs.com/6dbcd389c42e41aa06c692b423858c4c","vip":1,"hat":"https://static.tigerbbs.com/0a8758340a08196056f8bc1e54805193","crmLevel":7,"crmLevelSwitch":1,"idStr":"3559098973692807"},"htmlText":"Blockchain projects are on the rise in this technology era.&nbsp;","listText":"Blockchain projects are on the rise in this technology era.&nbsp;","text":"Blockchain projects are on the rise in this technology era.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/371314549","repostId":1146262593,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4082295,"gmtCreate":1618911235687,"gmtModify":1680784788218,"authorId":3574833990489635,"author":{"id":3574833990489635,"authorId":3574833990489635,"name":"KeithNiceGuy","avatar":"https://static.tigerbbs.com/3183eac9d370d88be15f4489b9061f88","vip":1,"crmLevel":4,"crmLevelSwitch":1,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":371314549,"type":1,"supId":0,"prevId":0,"content":"Will it improve life in sg?","text":"Will it improve life in sg?","html":"Will it improve life in sg?"}],"langContent":"EN"},{"id":371315820,"gmtCreate":1618910654560,"gmtModify":1704716725742,"author":{"id":"3581912064711553","authorId":"3581912064711553","authorIdStr":"3581912064711553","name":"WLtan","avatar":"https://static.tigerbbs.com/354ffef504de8ee7159ec0ecd8769350","vip":1,"crmLevel":2,"crmLevelSwitch":1,"idStr":"3581912064711553"},"htmlText":"Awaiting","listText":"Awaiting","text":"Awaiting","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/371315820","repostId":1146262593,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":371316460,"gmtCreate":1618910525550,"gmtModify":1704716723946,"author":{"id":"3573731928321338","authorId":"3573731928321338","authorIdStr":"3573731928321338","name":"claratan","avatar":"https://static.tigerbbs.com/9c6bbdac9048ff2e4b740f272576e2be","vip":1,"crmLevel":3,"crmLevelSwitch":0,"idStr":"3573731928321338"},"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/371316460","repostId":1146262593,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":14,"commentSize":6,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.28.3","shortVersion":"4.28.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1146262593"}