FinTech arm of WEG Bank Partners with Anquan Capital to Explore Blockchain Applications for Banking and Financial Services

MUNICH, May 15, 2020 /PRNewswire/ -- Anquan Capital Pte. Ltd, a Singapore-based group of technology companies has partnered with the FinTech arm of the German WEG Bank AG, which operates under the brand name TEN31.

Anquan Capital has launched a number of innovative technology companies including Zilliqa, Anqlave and Aqilliz. TEN31 Bank, which is currently developing into a specialist institute for blockchain-related FinTech companies, will implement joint projects with these companies in the future.

The new partners will announce specific projects over time. However, it is expected, for example, that the legal framework for crypto storage that has been in place since early 2020 will play a role. TEN31 has positioned itself accordingly at an early stage and secured permission under the grandfathering rule of the German banking code.

This collaboration will explore opportunities between Anquan Capital through Anqlave and Zilliqa. Anqlave develops custody and secure data storage solutions for enterprises, while Zilliqa is a high-throughput, high-performance blockchain for next-generation enterprises and applications.

With the new partnership, the strategy of TEN31 Bank continues to consistently focus on strategic partnerships. With this important step, the vision of the founder, Matthias von Hauff, to shape the bank into a full-service provider for FinTech customers has become a reality.

Like all TEN31 partners, Anquan attaches great importance to transparency and compliance. The partnership between the two groups now makes it possible in particular to develop services in the financial sector that require a solid regulatory framework.

Matthias von Hauff, CEO of TEN31 Bank: "With Anquan as a shareholder, we have added yet another ideal partner to our network. Not only do we benefit from their excellent technologies, but we also secure a spearhead in the Asian region in the long term."

Max Kantelia, CEO of Anquan: "I've always said that bringing blockchain into the mainstream requires a concerted, multi-sectoral effort by legacy institutions, emerging tech companies, and regulators. That's why Ten31's forward-thinking strategy and its clear role as a regulated bridge between the legacy and blockchain holds enormous appeal for me. Today, we can see blockchain creeping from the fringes of a technology sector that few understand, and into our daily lives. It is a perfect time to collaborate with TEN31 to explore how unlocking the potential of DLT technologies could accelerate digital transformation and revolutionise finance for everybody."

A further positive signal for the industry is the German Federal Government's progress in pushing ahead with regulation. Industry experts are eagerly awaiting the next draft bill on crypto custody and further legislative changes in 2020. The recently published decision of the German Bundestag underlines the increasing importance of the necessary regulatory framework.

Interested companies can contact the contact persons at TEN31 Bank at [email protected]

About WEG Bank AG/TEN 31 Bank

"Always one step ahead": With this mission, the German WEG Bank AG initially dedicated itself to the housing industry and secured a role as a leading institute for WEGs and property managers. With the founding of the product "TEN31", the institute remains true to its innovative spirit and establishes a second product line: banking services in innovative payment transactions. TEN31 focuses in particular on the everyday usability of digital currencies with the aim of providing true added value for all parties involved. TEN31 is the bridge between conventional banking and the blockchain world.

About Anquan Capital

Anquan was founded in 2015 with the goal of incubating and taking-to-market technology companies

based upon original academic research. Anquan has launched three companies to-date:

• Zilliqa, the high- throughput public blockchain platform
• Anqlave, which is building hardware-grade security products for the storage of digital assets using hardware rooted security
• Aqilliz, which is building blockchain based products to bring greater transparency and balance to the digital marketing industry

Media Contact

WEG Bank AG / TEN31
Matthias von Hauff
CEO & Founder
+49-89-809-1346-0

Anquan Capital Pte Ltd
Max Kantelia
CEO & Co-Founder
[email protected]

SOURCE WEG Bank AG