In a significant move that underscores the growing importance of decentralized technology in the financial sector, Public Company Limited (SCBX), Thailand's leading financial technology group, has entered into a strategic partnership with Hashed, a global frontrunner in Web3 venture capital. This collaboration is set to pioneer research and development in Web3 technology trends, including blockchain and AI, aiming for broader public market adoption.
SCBX's ambitious vision to transform into a tech-centric entity aligns seamlessly with Hashed's mission to foster the mass adoption of Web3 technologies. The memorandum of understanding (MOU) between the two giants cements their commitment to exploring the vast potential of Web3 technology across various business sectors.
Hashed will lead tests on Web3 technologies via its innovative hub, ShardLab, piloting experimental features such as account abstraction across diverse sectors. A highlight of this partnership is the co-funded R&D project, where both entities will combine resources to drive research that integrates blockchain innovations into SCBX's services and affiliates.
Simon Seojoon Kim, CEO & Managing Partner of Hashed, expressed his enthusiasm: “This partnership amalgamates the expertise of a reputable institution with the technological and philosophical foundations of Web3. I am confident that this collaboration will significantly nurture the growth of the Web3 ecosystem, extending its influence not only across Southeast Asia but also on a global scale."
In addition to their R&D endeavors, SCBX and Hashed will organize a series of conferences and gatherings to promote the expansion of the Web3 ecosystem. These events will focus on Web3 education, business networking, and talent development, aiming to bridge the gap between established Web2 enterprises and emerging Web3 ventures.
Dr. Arak Sutivong, Deputy CEO of SCBX, shared his perspective: “SCBX’s key milestone is to establish itself as a leading regional financial technology group. Collaborating with Hashed will enable us to shape the future of finance.”
This partnership follows recent moves by other major financial institutions in the region. Notably, Kasikornbank (KBank), a competitor of SCBX’s parent company, recently announced a $100 million web3 fund.
While specific projects from this collaboration are yet to be unveiled, the crypto community eagerly awaits the innovative solutions that will emerge from this union.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.