Asia Digital Bank implementing access to Cosmos ecosystem thru IRISnet

Powered by Cosmos’ scalable, sovereign, interoperable blockchain stack, ADB’s firms and individual users will be able to manage both centralized bank accounts as well as accounts on open distributed ledgers connected through Cosmos/IRISnet Hubs… Published by CryptoNinjas.net 10/18/2021 Asia Digital Bank Ltd. (ADB), the first recipient of the Digital Banking license issued by Labuan Financial…
Asia Digital Bank implementing access to Cosmos ecosystem thru IRISnet

Powered by Cosmos’ scalable, sovereign, interoperable blockchain stack, ADB’s firms and individual users will be able to manage both centralized bank accounts as well as accounts on open distributed ledgers connected through Cosmos/IRISnet Hubs…

Published by
CryptoNinjas.net

10/18/2021

Asia Digital Bank Ltd. (ADB), the first recipient of the Digital Banking license issued by Labuan Financial Services Authority in Malaysia and digital asset operator, announced a strategic partnership with Bianjie, IRISnet’s Core team, and a Cosmos Core Contributor since genesis.

ADB with Bianjie’s support plans to build a new blockchain-based infrastructure that supports the integration of centralized and decentralized financial services.

Powered by Cosmos’ scalable, sovereign, interoperable blockchain stack, this new digital banking infrastructure will support the realization of a lawful self-service financial paradigm. Utilizing DID, NFT, big data privacy protection, and interchain technologies via the Cosmos-based enterprise suite, IRITA, ADB’s firms, and individual users can manage both centralized bank accounts as well as accounts on open distributed ledgers connected through Cosmos/IRISnet Hubs.

Bianjie continues to expand Cosmos’ footprint into the enterprise blockchain space through building the Cosmos-SDK-based IRITA consortium blockchain framework. IRITA  will be used to build this Asia DB initiated open permissioned blockchain (OPB) to connect its banking business partners and other ecological service collaborators from different countries.

Last year, Bianjie launched WenChang Chain, the first Blockchain Services Network (BSN) Open Permissioned Blockchain (OPB) initiative to go to market. This OPB will support legal-friendly stablecoin issuing, digital asset exchange, asset-based securities issuing, and cross-border payments for global commerce. Additionally, this OPB  will integrate with the Cosmos ecosystem through IRISnet Hub for an open, inclusive, and legal-friendly financial services paradigm.

IRISnet + ADB

“We are delighted to have the leading blockchain technology innovator Bianjie join forces with Asia DB. This technical cooperation is going to expedite our new generation of digital banking system development. With Bianjie’s support, we believe through the adoption of advanced enterprises-oriented Cosmos-based blockchain stacks, we can support innovative financial services that will generate lasting impacts for ASEAN, China, the Islamic financial market, and the whole world in building an inclusive financial ecosystem.”


– Andy Liu, Chairman of Asia Digital Bank

Asia DB was initiated and established by the Asia Pacific Investment Bank (Registration No. LL11654), (licensed Labuan Investment Bank) (License No. 170120BI)(APIB) in Labuan International Business and Financial Centre (Labuan IBFC). On November 28, 2019,

it was officially approved by Labuan Financial Services Authority (Labuan FSA) as a digital financial business licensee established by Nanjing Zijin Investment Group, a state-owned enterprise of Nanjing City, Asia DB is under the guidance of the People’s Bank of China’s Digital Currency Research Institute (Nanjing) Application Demonstration Base when carrying out financial services to support efficient international commerce activities for Chinese enterprises.

Founded under strategic cooperation between Nanjing and the Labuan IBFC and Labuan FSA, this first batch of licensed digital investment banks aims to build an inclusive self-service financial platform for global digital asset transactions using blockchain technology.

Read More

Total
0
Shares
Leave a Reply

Your email address will not be published.

Related Posts
WOO X crypto exchange launches 20 perpetual swaps with zero-fees
Read More

WOO X crypto exchange launches 20 perpetual swaps with zero-fees

Related News SynFutures, a decentralized derivatives exchange, today has officially extended support for the Arbitrum network following an initial deployment in September of last year. The expansion allows users to access and trade a wide variety... Read more SIMBA Chain, a chain-agnostic API development platform, today has announced that it will integrate with Polygon, the…
Navigate (NVG8) raises $7M to build crypto-based data monetization ecosystem
Read More

Navigate (NVG8) raises $7M to build crypto-based data monetization ecosystem

The Navigate platform will be a launchpad for future innovation, where anyone can find and license the data needed to build a new class of applications... Related News Hex Trust, a fully licensed and insured provider of bank-grade custody and associated services for crypto-assets in Asia, announced today it has obtained provisional approval from the…
Maximize Your ETH Investment: The ETHphoria Vault by Pods
Read More

Maximize Your ETH Investment: The ETHphoria Vault by Pods

With the ETHphoria Vault, traders can maximize their exposure and potential profits, while enjoying the thrill of the crypto market... Published by CryptoNinjas.net 06/21/2023 This week, the team of Pods, a provider of structured products for crypto assets, unveiled its latest offering – the ETHphoria Vault. This innovative yield strategy is designed explicitly for ETH…
Crypto exchange Kraken’s second reserves audit adds 5 new assets: USDT, USDC, XRP, ADA, and DOT
Read More

Crypto exchange Kraken’s second reserves audit adds 5 new assets: USDT, USDC, XRP, ADA, and DOT

In its February 2022 Proof of Reserves audit, Kraken verified just the balances of clients’ BTC and ETH holdings... Related News Kraken, a popular crypto exchange and blockchain asset platform, today announced it has acquired Staked for an undisclosed sum. Staked is a non-custodial staking platform that enables investors in Proof-of-Stake networks to compound their...…