In a significant stride for blockchain and AI advancements, Crypto.com is poised to establish its first-ever Global Innovation Lab in Singapore. The “Crypto.com Global Innovation Lab” will focus on exploring and implementing frontier technologies and is expected to add remarkable value to the burgeoning fintech landscape in Singapore.
Crypto.com Announcement
Crypto.com, a trusted platform by over 80 million customers worldwide, recently announced this innovative step during the Point Zero Forum. This forum is a collaborative effort between The Swiss State Secretariat for International Finance (SIF) and Elevandi, an entity established by the Monetary Authority of Singapore (MAS). Crypto.com’s new lab will actively delve into the novel applications of blockchain, Web3, and AI technologies, creating waves in the global fintech industry.
Role of the Crypto.com Global Innovation Lab
The Global Innovation Lab’s mission is to experiment with the latest technologies responsibly, launching new utilities to the global community. Prash Pandit, Senior Vice President, Product and Innovation of Crypto.com, emphasizes:
“The power of Web3 and blockchain technology is only starting to be realized, and now with the adoption of AI and its convergence with crypto, we have even more of a frontier to explore. We are incredibly excited to pursue this through our Global Innovation Lab with a new team of top talent that shares our vision.”
Comments from Crypto.com SVP, Product and Innovation and General Manager, Singapore
Chin Tah Ang, General Manager, Singapore of Crypto.com, expressed tremendous pride in this initiative, saying:
“It will deepen our roots in Singapore, and enable us to invest in new local programmes with global scale to drive our industry forward.”
Impact on Singapore FinTech Ecosystem
Singapore’s strong digital infrastructure and talent pool make it an ideal location for this lab. The Chief FinTech Officer of MAS, Sopnendu Mohanty, welcomes this move, remarking, “We look forward to the establishment of Crypto.com’s new Global Innovation Lab as a leading example of this opportunity coming to life.”
Crypto.com Milestone in Singapore
This initiative is the latest in a series of milestones for Crypto.com in Singapore, following the recent acquisition of a Major Payment Institution (MPI) license for Digital Payment Token (DPT) services from MAS. The establishment of the “Crypto.com Global Innovation Lab” solidifies the company’s commitment to innovation and its contribution to the FinTech and Web3 ecosystem, particularly in Singapore.
As we observe Crypto.com’s journey and its impact on the digital asset industry, we’d love to hear your thoughts on this development. Do you think this will further accelerate the growth of the blockchain and AI industries? Feel free to share your insights in the comments section below.
