CGCX.io Partners with IBH Capital and Archipelago to Pioneer a Blockchain-Built Investment Bank
The ongoing development in the blockchain and crypto world is clearly not a passing fad despite the sceptical nature towards the industry. Malaysia is among the countries that have been very friendly to the technology and is set to host a blockchain based investment bank within its jurisdiction soon. This development comes after a move by CGCX.io to partner with IBH Capital & Archipelago Group for the purpose of this goal.
These three entities will act as complementary players in order to create the physical blockchain bank. All have their feet in the Fin Tech arena; a competitive edge that they plan on capitalizing to overcome the hurdles in crypto & blockchain market today. The investment bank will have a department for the primary overview and management of blockchain, crypto assets & digital ledgers. According to crypto analysts, this move will scale up the prospects of all involved participants as we enter web 3.0 era!
CGCX.io operations are currently based in Singapore where it is registered as a firm offering crypto-related services. These include a digital currency exchange platform with a couple of options for network contributors. The company raised an impressive $32.5 million during its Initial Coin Offering & boasts an over $10 million 24-hour trading volume. Based on its financial records, CGCX.io is quite appealing and has a fundamental value within the crypto market.
Anandh Swami, the CEO CGCX.io praised their project and argued that its different from most crypto exchanges as of press date. This is because the CGCX.io blockchain initiative provides a wide range of services with each attached to a designed platform. It therefore follows that the firm has set out to expand its services by joining traditional Fin Tech players whom will in turn benefit from the digital tech wave.
Archipelago’s main role as a partner is its insurance muscle; the firm is well recognized internationally for its ability to cover claims. It will act as the backing institution that guarantees cryptocurrency-fiat transactions run smoothly.
On the other hand, IBH Capital plays the role of an investment bank. The company runs an investment bank and is well funded with an affiliated $ 1 Billion worth of assets all over the world. It is among the few financial institutions to take a modern investment approach especially within the digital currency market.
The IBH Capital Managing Director, Dato’ Howard Choo appreciates the dynamic nature involving today’s business environment. In addition, the MD assures consistency in customer-commitment while leveraging the new technologies to increase the value of investor’s money.
Looking at the three entities, each has an important role to play for a physical blockchain investment bank to function effectively. The model design is investment, insurance and most importantly blockchain-focused.
As it stands, CGCX.io is meant to assist IBH Cap to set up its blockchain & crypto wing. This will involve the provision of technical overview for the firm’s blockchain related processes & investments. CGCX.io is further expected to develop an advanced digital wallet which will be multi-purpose and have top notch security functionalities. The firm will also offer Security Tokens (STO) based on the new investment bank to a tone of $ 100 million. It is this ecosystem that guarantees a functioning insured blockchain based investment bank.
A Memorandum of Understanding has since been signed for the purpose of this goal. Interested project enthusiasts can start counting down days to the launch of a couple significant milestones!