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Chintai announces beta programme for EOSIO-powered institutional platform

Chintai has announced the beta version of its institutional digital asset platform as the blockchain specialist opens its Asia-Pacific headquarters in Singapore.

Financial institutions, including banks and asset managers, have been invited to join its beta institutional digital asset platform programme.

The platform uses the EOSIO open-source protocol developed by Block.One, the creator of the EOS token, and is specialized in issuance, secondary trading, automated market-making, and other services.

Chintai is expected to secure the Recognized Market Operator (RMO) and Capital Markets Services (CMS) licenses from the Monetary Authority of Singapore (MAS).

The blockchain technology provider for compliant issuance of digital assets caters to institutions and SMEs who wish to create, issue, and tokenise traditional assets in capital markets.

This platform provides institutions with a simple way to set up their own issuances, in an interoperable compliance protocol for digital assets that brings efficiencies and cost savings in comparison to current practices in the market.

The institutional beta programme includes various asset classes and sophisticated instruments to drive that adoption.

The firm is backed by a few big names within the blockchain space, including B1, Cryptology Asset Group, Collective Capital, Peer Venture Partners, Chimera Wealth, and Block.one.

David Packham, Founder of Chintai, said: “Our focus on Singapore is a natural decision due to its world-class financial infrastructure, business environment and regulatory framework. As we set our sights on tapping into the broader Asia-Pacific market, we see a strong potential for blockchain adoption by institutions in this region, with Singapore being a major key market that will lead the way. With our team of experts that come with deep experience in banking, capital markets and blockchain technology, we are confident in elevating the overall level of the blockchain ecosystem in Singapore, especially at the institutional level.”

In July, the firm raised $7.5 million in seed round from investors. The fundraiser was aimed at developing the platform to tokenize traditional financial assets.

“Asset tokenization is an important trend that brings efficiency, liquidity, and fractional ownership to markets of all types. We’re excited to work with Chintai toward our shared vision of a blockchain-enabled digital asset revolution built on regulated financial services”, said Kevin Rose, Senior Vice President at Block.one.

“It’s well known that distributed ledger technology (DLT) is going to dramatically disrupt the financial system. Established financial institutions want to future-proof their competitive advantage, while smaller firms see the technology as a way to access innovative new business lines and increase their margins. Our comprehensive platform makes it easy for anyone to embrace compliant DLT for their specific needs”.

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