German Bank Partners With Singapore Fintech Consortium on Blockchain

Ten31, the FinTech arm of Germany’s WEG Bank, has partnered with Singaporean technology incubator, Anquan Capital. Partnership will involve exploring blockchain applications within the context of banking and financial services.

Anquan Capital already has launched a number of distributed ledger technology, or DLT, firms, including Zilliqa and Anqlave.

Ten31 chief executive, Matthias von Hauff, stated:

“With Anquan as a shareholder, we have added yet another ideal partner to our network. Not only do we benefit from their excellent technologies, but we also secure a spearhead in the Asian region in the long term.”

The collaboration appears poised to see WEG’s Ten31 provide digital asset custody services for Anquan affiliates — with Anqlave offering custody solutions to enterprise clients.