Quick take:
- Crypto.com is establishing its first Global Innovation Lab in Singapore.
- The crypto exchange company said on Tuesday it will recruit a new team for the new lab.
- The lab will experiment with frontier technologies and form joint partnerships to explore new use cases for AI, web3 and the blockchain.
Crypto.com has announced plans to establish a Global Innovation Lab in Singapore. The crypto exchange company said on Tuesday the lab will focus on experimenting with frontier technologies to explore more use cases for artificial intelligence (AI), blockchain technology and web3.
The company also said it is building a new team fully dedicated to the Lab, with additional roles to be established in the future.
The decision to set up the lab in the South East Asian City State was partly driven by the country’s status as a global financial hub and its ability to embrace new innovative technologies.
Crypto.com announced the new lab during a Point Zero Forum – an invitation-only multi-sector policy and technology forum jointly organised by The Swiss State Secretariat for International Finance (SIF) and Elevandi, a non-profit organisation set up by Singapore’s de facto central bank and chief financial regulation-setter and supervisor, MAS.
Commenting on the announcement, Prash Pandit, Senior Vice President, Product and Innovation of Crypto.com said: “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.”
According to Pandit, with the advancement in artificial intelligence and its convergence with crypto, this is a great time to take the web3 and blockchain industries forward, as it creates more opportunities for exploration.
“We are incredibly excited to pursue this through our Global Innovation Lab with a new team of top talent that shares our vision,” added Pandit.
On the other hand, Sopnendu Mohanty, Chief FinTech Officer of MAS commented: “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.”
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