KUALA LUMPUR: Digital fintech investment bank HWG Digital Investment Bank (Malaysia) Plc has entered into a non-binding memorandum of understanding (MoU) with SotaTek Vietnam Technology JSC (SotaTek) to explore collaboration in the area of blockchain technology such as non-fungible tokens, metaverse, and digital assets, among others.
Executive chairman and chief executive officer of Labuan IBFC Inc Datuk Iskandar Mohd Nuli said the company was most honoured to have witnessed the signing of this MoU, which will help SotaTek further expand its offerings within the region.
"This will enable SotaTek to showcase its expertise in blockchain while allowing for a meaningful contribution towards the growth and dynamism of Labuan's digital ecosystem," he said in a statement.
Some new projects under development with HWG Digital include decentralised real estate investment, which will help to revolutionise the property industry as HWG Digital introduces investment and home ownership through decentralised finance.
"SotaTek has an impeccable track record and proven technology capabilities that focus on the digital economy.
"We believe they will be a reliable companion and trusted partner to revolutionise our services, including tokenomics advisory services, digital asset custodian services, digital asset loans, and digital technology fund," said HWG Digital in a statement.
With their data-driven and digital transformation skills, SotaTek's offerings include full-stack public blockchain development, including tailoring public platform chains with protocols that fit its customers' needs.
The company also develops robust NFT marketplace platforms with multiple security layers and all the necessary features to launch a booming marketplace.
Aside from that, SotaTek will also help develop the Decentralised Exchange (DEX) and Centralised Exchange (CEX) developments.
In addition, the company also builds private blockchain solutions for enterprises in various industries such as finance, supply chain, loyalty, and the internet of things (IoT) using Hyperledger Fabric and R3 Corda.
Over the past seven years, SotaTek has cooperated with 25 countries and successfully implemented more than 500 projects for global customers.