Singapore-based crypto exchange Crypto.com has announced plans to establish a global innovation lab for blockchain, web3, and artificial intelligence (AI) projects. The lab to be established in Singapore will make Singapore the exchange’s designated global R&D hub.
The team at the lab will actively experiment with frontier technologies, and explore new ventures with strategic partners and hackathons, to identify novel applications for blockchain, Web3 and AI.
The company made the announcement at the Point Zero Forum, organized by The Swiss State Secretariat for International Finance (SIF) and Singapore’s Elevandi, to connect people, businesses, ideas and insights in the FinTech sector in Singapore and globally.
“We are focused on experimenting with the latest technologies in a responsible manner so that we can effectively launch new utilities to the global community,” said Prash Pandit, Senior Vice President, Product and Innovation of Crypto.com.
“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,” he added.
A big Way to Develop Crypto
Cryppto.com has always been about developing the crypto industry and bringing it to everyone globally. This project is another step towards achieving this goal. The project will leverage Singapore’s strengths to further accelerate the development of the digital asset industry in an innovative and responsible manner.
The Lab will also contribute to the vibrant FinTech and Web3 ecosystem within Singapore, and is immediately building a team that will start working on the project.
“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. “It will deepen our roots in Singapore, and enable us to invest in new local programs with global scale to drive our industry forward.”
Singapore’s Crypto-Friendliness Paying Off
Singapore has been one of the most crypto-friendly destinations in the world. With friendly regulators and a clear regulatory framework, the country has attracted many crypto companies, one of which is Crypto.com. With such a major project getting launched in the country, Singapore is on its way to becoming one of the biggest crypto hotspots in the world.
“As a vibrant FinTech hub, Singapore welcomes opportunities to leverage our strong digital infrastructure and deep talent pool to innovate in a responsible manner. We look forward to the establishment of Crypto.com’s new Global Innovation Lab as a leading example of this opportunity coming to life,” said Sopnendu Mohanty, Chief FinTech Officer of MAS.
