I am the Head of Web3 for Banking Circle, a B2B Bank licensed in Luxembourg with branches in Denmark, Germany and the UK. I am responsible for the Web3 initiatives in Banking Circle and relationships with the digital asset community including initiatives on Tokenised Deposits. Banking Circle is regulated by the CSSF in Luxembourg and supervised as branches in UK by FCA, in Germany by BAFIN and in Denmark by the Danish FSA.
I left DBS in Dec 2021 after 22 years of service to set up a Digital Asset Custody and Prime Services Business in Europe. Together with Calvin Cheng, the former Nominated Member of Parliament in Singapore, we set up Damoon Technology Holdings AG, Damoon Technology (Europe) AG and Calvin Cheng Web 3.0 Holdings FZE (provisional licence from the DVARA). I am also an adviser in TechstormTV, an e-sports media company which has over 92 million subscribers.
I remain a board member of the Damoon Technology Holdings (Europe) AG. I am also on the board of directors of Coins U Trust, a crypto currency exchange that was co-founded by Xinxi Wang, who co-founded the Litecoin Foundation. I am also an advisor for Anchored Coins AG, a stablecoin issuer based in Switzerland.
I was the Head of Business and Listing for the DBS Digital Exchange and was in the founding team working on this project since 2018 which also included the set up of a Security Token Exchange (beside the cryptocurrency exchange) and Digital Asset Custody.
I was also involved in other blockchain related projects within the DBS Group including being part of the team that set-up Climate Impact X.
Prior to the DBS Digital Exchange, I was the Executive Director and Head of Electronic Trading servicing intermediaries (broker-clients), digital exchanges, high frequency traders and market makers in the electronic trading space. I have experience in dealing with various regulators and exchanges across the region. I was also responsible for the ETF business. Prior to joining DBS in 1999, I worked in equity sales, sales trading and research with WI Carr. Before that, I was doing research and was a Data Analysis Tutor at the University of Cambridge. I have an MBA from California State University with a GPA3.91 and an LLM in Commercial Law from the Northumbria University and a First Class Honours degree in Psychology from Queen’s University of Belfast. My MBA studies was sponsored by DBS Securities, while my LLM programme was sponsored by DBS Vickers Securities.
Roundtable Room 3 (Level 3)
Decoding Digital Assets and Payments
This roundtable is the third phase of an ongoing dialogue focused on crafting open and interoperable networks within the financial ecosystem.
In November 2023, a roundtable titled 'Open and Interoperable Networks,' convened by the International Monetary Fund and the Monetary Authority of Singapore, delved into the necessity for multilateral platforms powered by such networks among global banks and regulators. A subsequent write-up underscored the need for advancements across technology, business, and regulations. These included rigorous testing of technology through live transactions, clearer articulation of the benefits of interoperability, and regulatory support for innovative technologies, such as through regulatory sandboxes.
At the March 2024 gathering during the Japan FinTech Festival, a follow-up discussion titled 'Moving Money at the Speed of the Internet' was held in collaboration with the Financial Services Agency of Japan and the Monetary Authority of Singapore. The conversation addressed the challenges posed by the lack of compliant digital infrastructure for financial institutions to execute digital asset transactions at scale. Find more insights from this discussion, emphasising the crucial role of foundational digital infrastructure in supporting open and interoperable networks in the pre-reading material.
Building on past recommendations, this third chapter brings together key stakeholders from various sectors of the financial industry to address concerns and chart a course for the future of stablecoins within the monetary system. Operating under our theme of Decoding Digital Assets and Payments, the session aims to provide guidance to regulators, support commercial banks in adapting to the evolving landscape, and encourage FinTech innovation alongside stablecoins.
Experts on the roundtable will drive a meaningful exchange on the following:
- An overview of the current concerns surrounding stablecoins, ranging from regulatory uncertainties to systemic risks, and insights into ongoing efforts to understand and regulate digital assets through collaboration. Consideration of the systematic impact of increasing holdings of reserve currencies by issuers
- The role of commercial banks in the future monetary system, including opportunities in developing on-chain assets and strategies for integrating traditional banking services with emerging digital asset platforms.
- Collaborative initiatives between FinTechs and stablecoin issuers as key drivers of innovation. Fintech leaders will be invited to share their perspectives on the intersection of innovation in the digital asset space
Attendees who wish to familiarise themselves with the topic may refer to the reference materials below.
- Open and Interoperable Networks
- Moving Money at the Speed of the Internet
- ASAP: A Conceptual Model for Digital Asset Platforms