Aegis Trust & Custody a regarded virtual asset custody that provides regulated custody services for Real World Asset Tokenization and cryptocurrency in the United States and Hong Kong, announced that the establishment of the Digital Asset Service Hub (DASH) and Consortium with the support of Syndicate Capital Group ("Syndicate Group"). Being part of the DASH & Consortium projects, Aegis Custody is co-creating the Reference Operation Demo Labs ("Custody+ Lab") in Cyberport as a show-case for the banking and financial sector.
Aegis Custody also announced a strategic partnership with Forms Syntron Information Ltd., and Hi Sun Technology Limited. From the technical side, Aegis Custody, in collaboration with FORMS HK and Infocast, built the Custody+ Lab with their technical know-how and clients in both the traditional banking and Web3 spaces. This groundbreaking project aims to support banks in becoming "Virtual Asset Ready" by providing a foundational step. The collaboration covers technology, business operating readiness, and integration with the evolving landscape of tokenized securities, stablecoins, and Central Bank Digital Currency ("CBDC") within the territory.
The Custody+ Lab focuses on virtual asset custody for cryptocurrencies, tokenized securities, stablecoins, and CBDC. The project's goal is to enhance the technological and operational preparedness of businesses navigating the complex realm of digital assets in Hong Kong. Aegis Custody brings extensive expertise in custody, operational and compliance frameworks, and core technology, while FORMS HK and Infocast contribute its experience in local development, integration with banking systems, and delivering a superior digital experience.
The collaboration is set to revolutionize the approach to custody opportunities, compliance, and core technology in the banking sector. By strategically combining Aegis Custody's robust digital asset custody and compliance infrastructure with FORMS HK and Infocast's innovative local development and user-centric digital solutions, the partnership aims to create a comprehensive, secure, and user-friendly platform. The executives express confidence in the role of CBDC in shaping the future-ready platform. This collaboration goes beyond technological integration, envisioning a secure, efficient, and forward-thinking ecosystem for all stakeholders in Hong Kong's financial landscape. This emphasizes the transformative potential of the partnership, expressing dedication to delivering innovative solutions, driving ecosystem engagement, and fostering a new standard of excellence for banks in the city. Together we believe this Web3 proof of concept will have a positive impact on the Hong Kong financial market and beyond.
Digital Asset Service Hub (DASH) and Consortium
Serra Wei, Founder and CEO of Aegis Trust and Custody said, "Today, we stand on the threshold of a new era as our vision of traditional financial institutions adopting virtual assets powered by Aegis infrastructure transforms into reality through our strategic partnership with 3 leading banking solution providers. We are excited about the potential of our collaboration and are dedicated to ensuring that these partnerships will deliver innovative solutions and foster the Hong Kong Fintech industry. We look forward to a fruitful partnership with FORMS HK, Hi Sun Tech and Infocast and the positive impact it will have on the Hong Kong financial market and beyond."
Albert Yip, Co-Chair of Aegis Hong Kong, and Chairman of Syndicate Capital Group, commented, "The recent joint circular by HKMA and SFC marks a significant milestone in the development of Hong Kong's regulation of VA-related products amidst Aegis' strategic plan of DASH project. Syndicate Capital Group is the Investor Champion and Corporate Champion of Global Fast Track that was initiated by InvestHK, promoting fintech and CBDC. We are delighted to support Aegis to establish the Custody+ Lab at Cyberport and collaborate with reputable market leaders such as FORMS HK, Infocast and Hi Sun Tech, fostering the digital asset sector in Hong Kong as the Web3 Hub in Asia."
Alex Chan, CEO of FORMS HK, commented, "As we forge ahead into 2024, we are excited to announce FORMS HK's collaboration with Aegis Trust & Custody. This partnership is set to redefine the digital and virtual asset landscape as we come together to establish the DASH and a Consortium for Banks in Hong Kong. We extend our heartfelt gratitude to Aegis Trust & Custody for placing their trust in us. At FORMS HK, we firmly believe that trust and safety are paramount when it comes to virtual assets. That's why we have branded our Web 3.0 finance technology offerings under the name FINNOSafe. With our expertise and dedication, we are fully committed to supporting the financial sector in navigating the ever-changing FinTech landscape, as we strive to position Hong Kong as the premier hub for regulated virtual assets."
Cecily Ho, President of Infocast, said, "Reflecting on the transformative year of 2023 in the fintech industry, our journey ahead will be marked by continuous adaptation and innovation. The collaboration is not just a business milestone, but also our major leap in integrating digital assets into traditional financial systems. I am proud to see Infocast's expertise in financial technologies and enterprise solutions become the technological backbone for this ambitious project. Our joint efforts with Aegis Custody and other partners show-case our dedication to driving innovation in the fintech space, particularly in the realm of digital asset management."
Jack Qu, COO of Hi Sun FinTech Global Limited, a subsidiary of Hi Sun Tech commented, "At Hi Sun, our contribution to this initiative is fuelled by our extensive expertise in information technology and banking solutions. We will play a key role in ensuring the seamless integration of financial transactions within banks and the digital asset ecosystem. Under the supervision of the Hong Kong Monetary Authority and in collaboration with Aegis Trust & Custody, we are co-creating a holistic system and working together to promote the virtual currency business, aiming to bring new opportunities for economic development."