– FINX Group, which comprises of Asian and European members, is launching a banking platform powered by blockchain at the end of this year.
The banking industry has reportedly been spending $1.7 billion each year on research and development of blockchain technology. The report concluded that banking institutions and other financial institutions have doubled their blockchain initiatives in 2017, with cost reduction being the biggest driver of investment in and development of blockchain technology.
FINX, powered by blockchain technology, will be launching its banking platform in multiple countries starting from Switzerland. FINX has acquired a Swiss Asset Management company and is on track to launch its full-fledged decentralised banking platform by the end of this year.
FINX will be hosting a series of Blockchain Summit Conferences in ASEAN countries. The first conference is set to be held in Kuala Lumpur, Malaysia on 30thJune 2018, featuring Jim Rogers (Chairman of Rogers Holdings and Beeland Interests, Inc) and Tu Zhiyun (Founder of XYB) as guest speakers.
“Blockchain technology is set on a path to disrupt the banking industry on a scale not seen since the inception of centralized banking system. Our goal is to have a global footprint and be among the first few who embrace this revolutionary technology in finance sector,” said one of the co-founders of FINX, Victor Hoo in a statement.
