HWGDIB signs collaboration MOU with SEA largest blockchain developer Sotatek

Digital fintech investment bank HWG Digital Investment Bank (Malaysia) P.L.C. (“HWGDIB” or “Group” or “HWG Digital Investment Bank”), has today entered into a non-binding Memorandum of Understanding (MoU) with SotaTek Viet Nam Technology JSC (SotaTek), a global blockchain and software development firm that owns the largest blockchain development workforce in Southeast Asia with over 1,000 employees. 

Under the MoU, both HWG Digital Investment Bank and SotaTek will explore the possibility of collaboration on matters related to blockchain technology such as Non-Fungible Token (“NFT”), metaverse, digital assets, etc. 

Image above: Front from left: Andy Nguyen (Chief Technology Officer of SotaTek), Richard Ling (Representative of HWG Digital Investment Bank) Back from left: Datuk Iskandar Mohd Nuli (Executive Chairman cum CEO of Labuan IBFC Inc), Dato Aaron Lim Ooi Hong (Executive Director & Chairman of HWG Digital Investment Bank)

Commenting after witnessing the launch, Datuk Iskandar Mohd Nuli, Executive Chairman cum CEO of Labuan IBFC Inc said, “Labuan IBFC Inc is most honoured to have witnessed the signing of this MoU, which will help SotaTek further expand its offerings within the region. This will enable SotaTek to showcase its expertise in blockchain while allowing for a meaningful contribution towards the growth and dynamism of Labuan’s digital ecosystem.” 

In a statement, HWG Digital Investment Bank said, “SotaTek has an impeccable track record and proven technology capabilities that focus on the digital economy. We believe they will be a reliable companion and trusted partner to revolutionise our services including Tokenomics Advisory Services, Digital Asset Custodian Services, Digital Asset Loans and Digital Technology Fund.”

In a statement, SotaTek said, “HWDIG has outstanding brand and worldwide presence. They provide full-fledged services covering the advisory, digital asset management, payment, trading hedging and private investment sectors. We believe that in collaboration with HWDIG we will expand our brand recognition, especially in Malaysia.”

Some of the other new projects under development with HWGDIB include decentralised real estate investment. This will help to revolutionise the property industry as HWGDIB introduces investment and home ownership through decentralised finance. 

With their data-driven and digital transformation skills, SotaTek offers full-stack public blockchain development, including tailoring public platform chains with protocols that fit into its customers' needs. The company also develops robust NFT marketplace platforms with multiple security layers and all necessary features to launch a booming marketplace.Aside from that, SotaTek will also help with the Decentralised Exchange (DEX) and Centralised Exchange (CEX) development. 

In addition, the company also builds private blockchain solutions for enterprises in various industries such as finance, supply chain, loyalty, IoT using Hyperledger Fabric and R3 Corda. Over the past 7 years, SotaTek has cooperated with 25 countries and successfully implemented more than 500 projects for global customers. 

HWGDIB is looking forward to the collaboration to push forward the decentralised finance and blockchain technology within the financial industry. The MoU will set up the foundation for collaboration between SotaTek and HWGDIB. 

HWGDIB’s mission is to transform traditional funding products via blockchain technology, with a firm focus on creating true value and equitable financial success for investors. The Group wants to provide easy access to previously unattainable funds by empowering the underserved with a swift gateway to effective funding solutions. 

As Malaysia’s international business and financial centre, Labuan IBFC currently houses and supports more than 880 licensed institutions and more than 17,000 companies. These include international organisations in banking, leasing, capital markets, insurance, reinsurance, risk management and wealth management. Labuan IBFC is also home to a thriving digital ecosystem that provides a toolbox for blockchain, cryptocurrencies and fintech-related entities which are supported by a digital finance-friendly regulatory approach.

This content is provided by Aegis Communication Sdn Bhd.

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