Swiss blockchain startup FQX was a top award winner at the Singapore Fintech Festival after showcasing its settlement capabilities for tokenized debt securities.
Zurich-based FQX was one of three winners in the Global FinTech Hackcelerator selected during the Singapore Fintech Festival (SFF) last week, according to a statement. The Global FinTech Hackcelerator’s theme this year is the acceleration of digitalization in green finance.
FQX’s solution – eNotesTM – offers an infrastructure that provides on-chain settlement of tokenized debt securities which enables «cheaper issuance fees and increased capital efficiency», said the Monetary Authority of Singapore (MAS).
In total, there were 17 finalists that pitched their innovations with the two other winners being a digital onboarding platform by Sweden’s norbloc and an ESG data solution by Singapore’s WeavInsight. Each of the three winners will receive S$50,000 ($36,000) in prize money.
Global Fintech Awards
Separately, 223 submissions were also received for the SFF Global Fintech Awards, of which 37 winners were selected for nine categories.
«We are very encouraged by the innovative, cutting-edge solutions presented by the winners and finalists of this year’s Global FinTech Hackcelerator and FinTech Awards,» said MAS chief fintech officer Sopnendu Mohanty.
«The winning entries have demonstrated strong potential to tackle real-world problems, while allowing the financial sector to harness the tremendous benefits of new technologies in their journey towards a greener digital future.»
Established in 2019
FQX was established in 2019 in Switzerland and co-founded by Benedikt Schuppli, Frank Wendt, Philipp von Randow, Stephan D. Meyer.
The business was built with the aim of achieving the electronification of negotiable instruments such as bills of exchange and promissory notes.
finews.asia is a supporting media partner of the Singapore Fintech Festival.
