Crypto.com has launched a new project to build the Global Innovation Lab in Singapore. The innovation lab will be focused on driving the development and adoption of blockchain, Web3, and AI technologies.
Crypto.com made an announcement at the Point Zero Forum, a major financial technology forum in Singapore. The forum was attended by policymakers, regulators, and industry leaders from around the world. This suggests that Crypto.com is taking its efforts to legitimize cryptocurrency seriously.
Crypto.com is a cryptocurrency exchange and financial services company headquartered in Singapore. It was founded in 2016 by Kris Marszalek, Bobby Bao, Rafael Melo, and Gary Or. Crypto.com offers a variety of products and services, including exchange, wallet, staking, payment with a debit card, Crypto.com Pay, Crypto.com gift cards, and more. It has over 80 million customers worldwide.
“The new Global Innovation Lab team will actively experiment with frontier technologies and explore new ventures with strategic partners and hackathons to identify novel applications for blockchain, Web3, and AI,” Crypto.com said.
Prash Pandit, Senior Vice President of Product and Innovation at Crypto.com, expressed the company’s focus on responsible experimentation with cutting-edge technologies to bring innovative solutions to the global community.
He emphasized the potential of Web3 and blockchain technology, which is just beginning to be fully realized. With the integration of AI and its intersection with crypto, there are even more opportunities to explore.
“We are tremendously proud to be a part of such an innovative ecosystem in Singapore supported by the MAS and to launch this new Global Innovation Lab initiative,” said Chin Tah Ang, General Manager, Singapore, of Crypto.com. He added that the initiative will help the crypto exchange become more established in the country while tapping into the local talent pool in Singapore.
Sopnendu Mohanty, Chief FinTech Officer of MAS (Monetary Authority of Singapore), said that Singapore is open to such endeavors that leverage the “strong digital infrastructure and deep talent pool to innovate” within the country.
“We look forward to the establishment of Crypto.com’s new Global Innovation Lab as a leading example of this opportunity coming to life.”
In the past six months, Crypto.com has expanded to other regions, such as Brazil after receiving a payment license from the country’s authority and Spain after being awarded the VASP license to operate in the country.
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