Hashstacs Releases Enterprise Blockchain Sandbox For Financial Institutions

SINGAPORE, 26 June 2019 – Today, Hashstacs, launches its first enterprise blockchain sandbox (“STACS Sandbox”) catering to the Southeast Asian capital markets. Building upon the initial interest by undisclosed participants in Southeast Asia for version 1.0 launched in March 2019, Hashstacs is publicly launching its enterprise blockchain sandbox. Companies can test the viability of their in-house blockchain solutions for the upgraded version 1.1 released today in a compliant, secure and isolated environment without disrupting existing business operations.

An Enterprise Blockchain Development Sandbox for Participants Of Different Needs

Participants can trial the issuance of securities, the support of investment platforms, and host a node within a larger blockchain network. Existing financial institutions can test trials of issuing bonds, equities, or funds in digitized formats, dividend disbursements, bond repayment and other corporate action activities using smart contract technology.

Corporations that are coming onboard the sandbox include a European Stock Exchange, ASEAN based Asset Managers, European and Asian Funds among others, with more regional participants in the pipeline. Hashstacs is presently in conversations with more than 100 institutions spanning exchanges, banks, funds and brokers globally.

The sandbox launches with a UI Browser, a Marketplace dashboard and an Enterprise Investment Platform among its basic products for participants already integrated with the STACS Network. More extensive interface controls are available for participants, depending on the characteristics and needs of their business.

Building Upon Singapore’s Blockchain Capabilities For The Region

The release of the STACS Sandbox comes at a time of renewed focus on blockchain application in the business and enterprise space. With Facebook most recently unveiling its plans for the Libra blockchain network[1], and recent reports of blockchain being one the fastest growing skills in-demand for Singapore[2], the STACS Sandbox by Hashstacs serves to augment on Singapore’s blockchain capabilities.

“With Hashstacs we’ve found an enterprise blockchain solution to overcome legacy problems in the financial markets. Having served in the financial industry in various capacities, we know exactly where their pain-points are. We are now at the stage where technology is able to step in and address these various issues, in a tangible manner,” said Jay Ng, Managing Director of Hashstacs.