Strategic partnership to drive ecosystem development of digital assets and democratisation of bonds
SINGAPORE, Jan. 30, 2023 /PRNewswire/ — Singapore-based digital infrastructure technology provider, InterOpera, has signed an MOU with DAOL (THAILAND) to strategically collaborate on providing digital assets services to institutional and retail investors in Thailand. InterOpera will provide DAOL (THAILAND)’s subsidiary, DAOL DIGITAL PARTNER (DDP), the blockchain infrastructure platform and services, tokenisation solutions and expertise to complement the digital business capabilities. DDP will leverage its market expertise to create innovative investment vehicles for their clients to lead the growth of an inclusive capital markets ecosystem in Thailand.
Thailand is home to one of the most promising markets in Southeast Asia for digital assets. There has been a steady and broad-based adoption of digital assets since the enactment of the Digital Asset Decree in 2018 which specifies digital assets as a new asset class to be regulated under Thai law, covering cryptocurrency and innovative digital tokens. Digital investment tokens provide access to investment opportunities in business projects and real estate, while digital utility tokens can be exchanged for reward-points and movie privileges.
Founder and CEO of InterOpera, Will Lee said, “Our strategic collaboration with DAOL (THAILAND) through DDP is a major milestone. It reinforces our belief that financial markets can be more inclusive and realises our vision to build connectivity across capital markets in Asia and beyond.”
The representative of DAOL (THAILAND), Isara Pudtalsri said, “We will spearhead the group in providing a range of trustworthy digital tokens, in response to strong demand among Thai investors. Joining forces with InterOpera will increase our speed to market with reliable technology infrastructure.”
As far as use cases go, the democratisation of bonds as a capital markets product and its digitalised form as an asset class is a key business vertical for InterOpera. In November 2022, InterOpera completed a World Bank bond tokenisation exercise through its wholly-owned subsidiary Shareable Assets (which holds a capital markets services licence issued by the Monetary Authority of Singapore). The tokenised supranational bonds were made available to Singapore-based investors via a mobile app, providing easy access to high quality supranational bonds for a minimum sum of US$100. The benefits of applying innovative technology to traditional processes of facilitating bond trading are seen in automatic order-taking, instantaneous transfer or exchange of security tokens and fiat tokens, with the promise of peer-to-peer and free-of-payment exchanges soon. The tokenised bonds were real-world securities issued by the International Bank of Reconstruction & Development (or IBRD) and safeguarded by a licensed financial institution, thereby ensuring the highest level of investor protection.
Will Lee said, “This World Bank bond tokenisation exercise is timely in 2022, as it demonstrates the real-life commercial viability of an interoperable infrastructure platform or ecosystem, fully architected on blockchain, as a step forward in digitally transforming capital markets. Since delivering the prototype in Project Genesis 1.0 to the Bank for International Settlements (BIS) and the Hong Kong Monetary Authority (HKMA) in 2021, InterOpera has relentlessly innovated and developed its blueprint for such digital infrastructure to enable financial institutions to ‘securitise’ (through DLT and blockchain) complex financial instruments and traditional forms of assets in the form of digital or intangible assets. This can greatly enable more effective distribution in regulated frameworks, integrate and accommodate new and emerging forms of digital assets. We will continue to work tirelessly with our institutional partners to bring such ecosystem-enabling solutions to market.”
The mandate for Project Genesis 1.0 was issued by BIS and HKMA to provide for the tokenisation of digital green bonds for retail investors. The prototype was delivered by members of the InterOpera group (as the Liberty consortium), with Standard Chartered Bank and SC Ventures. The report for Project Genesis 1.0 can be downloaded from the BIS website here.
Disclaimer: The contents herein have not been reviewed by the Monetary Authority of Singapore. No part in this release amounts to any form of legal, financial or investment advice and must not be relied upon as such.
InterOpera is a Singapore-based infrastructure technology company that provides distributed ledger technology infrastructure for capital markets and carbon trading markets. Its wholly-owned subsidiary, Shareable Assets Pte. Ltd., holds a capital markets services licence issued by the Monetary Authority of Singapore. Key investors include Vertex Holdings (backed by Temasek), Korea Investment Partners and Kakao Investment.
InterOpera sees the future of capital and carbon trading markets as one that is fully interconnected and built on blockchain-powered infrastructure technology, from which new industry standards are continually created. This is demonstrated by collaborations undertaken by InterOpera with the Bank for International Settlements (BIS), the United Nations Framework Convention on Climate Change (UNFCCC) and the Hong Kong Monetary Authority (HKMA).
About DAOL (THAILAND)
DAOL (THAILAND) is a holding company with subsidiaries that provide extensive services ranging from financial planning to investment and fundraising through financial and capital market mechanisms, covering stocks, bonds, semi-derivatives, mutual funds, private funds, property funds (REIT), and digital assets, with the integrated work of DAOL SEC, DAOL INVESTMENT, DAOL REIT, and DAOL DIGITAL PARTNER. We also offer employee welfare loans, secured loans, and personal loans to increase access to credit services and to reduce informal debt problems through DAOL LEND, as well as a wide selection of insurance plans that best suit your lifestyle to help you manage the risks in your life through, WE DIGITAL INSURANCE BROKER and to achieve the ultimate goal of financial freedom under the vision of “DAOL, your lifetime financial partner”.
About DAOL DIGITAL PARTNER
DAOL DIGITAL PARTNER (DDP) was founded in 2020 as an IT consultancy and digital marketing service provider for DAOL (THAILAND). Given its expertise in technology-related business development and rising trend of digital assets, the company is mandated by the group to drive asset tokenisation and ICO Portal businesses under the financial regulations of Thailand. DDP aims to be a leading fund-raising portal with specialisation in asset tokenisation.
For more information, please visit: https://www.interopera.co/. Connect with us on https://www.linkedin.com/company/interopera/ and https://twitter.com/interoperagroup.
SOURCE InterOpera Pte Ltd