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CTBC Bank partners with Aegis to expand digital financial asset business

CTBCAegis Custody announced its partnership with CTBC Bank to expand its digital financial asset business, launching bundle factoring, REITs and equity investment in special asset digitalization to tap into channels for cash flow and support diversification of the banking sector. Aegis Custody, a blockchain FinTech firm based in San Francisco, USA, has stated that it sees strong prospects for digital financial asset development in Asia. A trust license had been granted to it in Hong Kong in 2019.

Serra Wei, Founder & CEO, Aegis said, “A stable cash flow is essential for big enterprises. They will be able to access a stable cash flow after the digital digitalization of traditional assets. This is indeed the practical financial application of blockchain. The initial digitalization of assets is expected to amount to CNY20 million. This arrangement not only helps to enhance working capital allocation and financial planning, but also allows Aegis, a new breed of fintech firm, to showcase its strong performance.”

Wei further added, “In 2020, Aegis is targeting CNY200 billion and aiming for other core enterprises in asset digitalization to create a new type of supply chain asset digitalization platform. With the use of a blockchain smart contract, the complicated asset transaction process will become simpler and more transparent, which could transcend regions, districts and systems for transactions.”

The factoring digitalization platform set up by the Aegis team features third-party trust mechanisms in USA and Hong Kong, coupled with patented technology to achieve a single-chain-multiple-validation mechanism. Furthermore, the digital asset digitalization designed by Aegis helps to break down assets by programing with blockchain technology to make it much simpler.

CTBC Bank is said to have expanded in the area of blockchain-based financing. The Taiwanese bank joined the blockchain firm R3, and has expanded into FinTech too.

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