Anquan Capital Pte. Ltd, a Singapore-based group of technology companies has partnered with the FinTech arm of the German WEG Bank AG, which operates under the brand name TEN31.
Anquan Capital has launched a number of innovative technology companies including Zilliqa, Anqlave, and Aqilliz. TEN31 Bank, which is currently developing into a specialist institute for blockchain-related FinTech companies, will implement joint projects with these companies in the future.
With the new partnership, the strategy of TEN31 Bank continues to consistently focus on strategic partnerships. With this important step, the vision of the founder, Matthias von Hauff, to shape the bank into a full-service provider for FinTech customers has become a reality.
Ten31 chief executive, Matthias von Hauff, stated:
“With 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.”
Anquan CEO, Max Kantelia, stated: “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,”
A further positive signal for the industry is the German Federal Government’s progress in pushing ahead with regulation. Industry experts are eagerly awaiting the next draft bill on crypto custody and further legislative changes in 2020. The recently published decision of the German Bundestag underlines the increasing importance of the necessary regulatory framework.
WEG Bank is also licensed to provide crypto trading and custody services from Estonia, having secured licensing during August 2019 through its sister company, WEG Blocklink OÜ.
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