Contour, an industry financial network founded on the generation of blockchain or distributed ledger (DLT) that in the past was called Voltron, has established a new innovation lab in Singapore.
Contour says it will work in cooperation with its extensive networked paintings of banking institutions, businesses and other ecosystem partners to study and operationally bring local industry virtual financial services into force.
Contour’s Future of Finance Lab will create the virtual infrastructure needed to address existing inefficiencies in business processes. These activities will be simplified by removing the main obstacles, simplifying existing workflows and making trade much more available to all.
The new lab is in Singapur. Il will aim to leverage its innovation-friendly environment, while selling a dynamic Fintech ecosystem backed by progressive regulations. Singapore also provides the key merit of being a leading industrial hub in Southeast Asia.
Contour and its network plan to continue this expansion by creating a sales branch that can seamlessly link businesses, financiers and partners through money supply chains and the like.
Beyond its fully virtual letter of credit (LC) service that is in production, Contour’s control shows that it will appear to be offering industry financing to provide more price to its members.
Contour has created an internal progression team for new advertising product offerings and is also expected to double the duration of its team next year.
Carl Wegner, chief executive of Contour, said:
“With the launch of the Future of Finance Lab, we are excited to intensify our innovation efforts as we expand virtual infrastructure for the industry, making commerce more accessible, undeniable and effective for all. Singapore is the best environment for innovation and we look forward to participating in our network paintings and globally while painting in combination to build long-term trade. “
Sopnendu Mohanty, director of financial technology at the Monetary Authority of Singapore (MAS) said:
“As we gradually emerge from the pandemic, we believe that the various virtual responses and connectors that interact seamlessly can make the borderless industry more effective and, as a result, drive the recovery of the global industry. We are very pleased that Contour has selected to anchor its Future of Finance Lab in Singapore and a look at its additional contribution to the virtual commerce ecosystem in Singapore and beyond. “