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- The global adoption of Web 3.0 solutions was integral to the formation of this JV
- The JV based out of Singapore is poised to leverage on its future-forward regulatory framework as a springboard for regional adoption of Web 3.0 solutions
- The JV brings the strengths of proprietary technology, proven track record in investments into technology and strong capabilities set to help businesses accelerate their transition from Web 2.0 to Web 3.0 seamlessly |
SINGAPORE, Sept 6, 2023 - (ACN Newswire) - 1MetaWorld (1MW), a member of ONERHT, and EQBR, a leading Korean Web3 technology firm, have launched a strategic Joint Venture (JV) to accelerate the regional adoption of Web3 with Singapore as the epicenter.
 | | Witnessing the signing ceremony were Mr. Lee Jung Geun (back, L), Chairman of EQBR Group and Mr. Tan Chong Huat, Chairman of RHT AlDigi Financial Holdings. Signing the agreement were Mr. Cheong Seongkoo (front, L), CEO of EQBR Networks Pte. Ltd. and Mr. Lee Seck Hwee, CFO of 1Metaworld Pte. Ltd. |
ONERHT through its investments and development of Recognised Market Operator SDAX, a digital asset exchange, and ACX, a global digital carbon exchange, has already demonstrated its ambition in developing the digital economy and this once again is aligned with the Monetary Authority of Singapore's push to safeguard and advance best practices and technical standards for Singapore's financial system through Project Guardian.
About the Joint Venture
The JV aims to focus on tangible and operational Web3 business opportunities such as:
- Tokenization of Real-world Assets: Including maritime assets, real estate, and art. This provides liquidity, fractional ownership, and global market access.
- Securitized Token Offerings: Fundraising via compliant token offerings, which have the potential for a wider investor base, reduced intermediaries, and real-time settlement.
- Web3 Payment Solutions: On-ramp and off-ramp payment solutions that facilitate cross-border multi-currency transactions. This has the potential for worldwide financial access and licensing to handle Central Bank Digital Currency (CBDC) for tokenized transactions.
- Close Collaboration: 1MW will work with AlDigi Technologies and the EQBR technology team in the development of the above solutions.
The Future is Web3
Mr Chen Jiejing, CEO of 1MW, said, "The future is undoubtedly Web3, but the transition from Web2 to Web3 is complex and time-consuming. With this JV, we're offering ready technology and a ready team for a world that's ready to make that transition."
"The JV is currently applying its solutions for regulated Securitised Token Offerings. We also see strong interest in Web3 solutions as businesses explore new opportunities, especially within lifestyle festivals and digital content distribution encompassing music, dance, fashion and entertainment," he added.
Technology, Finance, Governance and Legal Synergy
EQBR brings to the table its proprietary technology, Equilibrium, which powers its no-code Web3 infrastructure platform, EQ Hub. With over 1.5 million user downloads for its Whisper MSG, EQBR is a leader in enterprise blockchain technology.
Backed by ONERHT, an integrated multidisciplinary platform of professional and specialist services, 1MW powers Web3 innovation across its three pillars of digital finance, digital lifestyle creator economy, and Web3 commerce. The JV reflects ONERHT's continued focus on Web3 innovation, and brings deep expertise across finance, legal and corporate governance matters to support the JV's growth as a trusted Web3 platform.
Singapore, The Epicentre For The Global Digital Economy
Mr Cheong Seongkoo, CEO of EQBR Networks, said, "Following the MAS' revision of its stablecoin regulatory framework, we are confident that Singapore will lead the global Web3 revolution as digital asset ecosystems continue to strengthen further, enabling us to leverage on our first-mover advantage based on our established experience in Singapore."
1MW envisions a drive towards a decentralized regional P2P economy and aims to align this vision with existing regulatory frameworks, making Singapore the ideal location to launch this JV with regional aspirations as the adoption of Web3 innovation continues to accelerate across Asia.
For more information, please contact:
Chen Jiejing, CEO, 1MW, jiejing.chen@rhtgoc.com
Lee Min Ki (Michael), CMO, EQBR, mklee@eqbr.com
About 1MetaWorld
1MetaWorld is a member of ONERHT, an integrated multidisciplinary platform of professional and specialist services. 1MetaWorld aims to be the gateway for investors, consumers, and service providers in the Metaverse. It seeks to provide a secure transaction platform and curated lifestyle privileges for consumers and investors, as well as empower service providers with a plug-and-play secured mechanism to access opportunities in the Metaverse.
About EQBR
EQBR is a leading Korean technology firm specializing in Web3 technology. Its proprietary blockchain engine, Equilibrium, drives the core secure Web3 technologies in EQ Hub, a no-code Web3 infrastructure platform. For more information, please visit: www.eqbr.com
Topic: Press release summary
Source: 1MetaWorld / EQBR
Sectors: Funds & Equities, NFTs, Metaverse, Games
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From the Asia Corporate News Network
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