Leuven, Belgium, April, 2024 – SettleMint, the company behind DALP, the Digital Asset Lifecycle Platform, alongside Sony Bank Inc. will explore the feasibility of a stablecoin offering.
Sony Bank will oversee the legal arrangements and research the technical requirements for the issuance of a stablecoin, which will be used on the Polygon PoS (Proof of Stake) chain in this PoC (Proof of Concept). SettleMint, with its diverse experience in blockchain technology, will be responsible for the development and construction of the infrastructure for the demonstration experiment. Through this collaboration, Sony Bank aims to conduct the PoC with the objective of providing safe, secure, and valuable services in the Web3 domain.
From left to right: Sandeeop Nailwal, Founder of Polygon Labs, Keiji Minami, Sony Bank CEO and Matthew Van Niekerk, SettleMint Co-Founder and President at executive meeting in Dubai, UAE.
"We are thrilled to embark on this pioneering project with Sony Bank on Polygon. This initiative is a testament to SettleMint's commitment to leveraging blockchain technology in creating a more secure, efficient, and inclusive global financial ecosystem. By joining forces with Sony Bank and building on the Polygon PoS protocol, we are setting the stage for significant advancements in the banking industry, heralding a new era of financial services that are more accessible, transparent, and user-centric." - Matthew Van Niekerk, Co-Founder and President of SettleMint, shared his excitement about the collaboration.
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Sony Bank, the leading online bank in Japan, is currently designing a blockchain-based wallet function. In a forthcoming demonstration experiment, Sony Bank will consider incorporating a Stablecoin.
Polygon PoS is an EVM-compatible, proof-of-stake sidechain for Ethereum, with high throughput and low costs.
Central to this initiative, SettleMint is tasked with developing and constructing the end-to-end infrastructure utilizing its state-of-art SettleMint Blockchain Transformation Platform.
The collaboration aims to address the technical and legal challenges associated with the issuance, redemption, and circulation of stablecoins. The goal is to expand the use of stablecoins within the economy, fostering a more secure and engaging environment for Web3 creators and enthusiasts.
A key highlight of this initiative is the adoption of cutting-edge zero-knowledge blockchain technology, underscoring the partners' commitment to privacy and security in the digital era.
SettleMint's role in this project highlights its extensive experience and success in delivering Blockchain Transformation for enterprises.
About SettleMint:
SettleMint, headquartered in Leuven, Belgium, with offices in the UAE, Singapore, and Japan, is the company behind DALP, the Digital Asset Lifecycle Platform. DALP enables financial institutions, market infrastructure operators, and governments to build, deploy, and manage digital assets and blockchain applications at scale.
About Sony Bank:
Sony Bank was established in 2001 as an online bank mainly for individual customers in Japan.
The company is a member of Sony Financial Group, which is wholly owned by Sony Group Corporation.
Our mission is to bring customers convenient, high-quality financial products and services
