Blockchain Working Group Planned By Singaporean Investment Firm Temasekbr>
Singapore-based investment firm Temasek is planning to create a new working group to explore opportunities in blockchain technologies.
Incorporated in 1974, Temasek, which owns and manages a net portfolio of $308 billion, is a holding company owned by the government of Singapore. Its portfolio covers a broad spectrum of sectors including financial services, telecommunications, media and technology, transportation and industrials, life sciences and agribusiness, consumer and real estate, energy and resources, as well as multi-sector funds.
The company is reportedly creating so-called “experimental pods” that will focus on blockchain and artificial intelligence (AI), which it sees as long-term trends impacting multiple industries and geographies. The groups will be headed by Chia Song Hwee, the COO of key management arm Temasek International.
“We have been expanding our business coverage and geographic footprint over the past few years,” a Temasek spokesman told Bloomberg. “As our operating environment evolves, our focus is on remaining nimble and well-positioned to capture opportunities that deliver sustainable value over the long term.”
Temasek has been investing in blockchain-related companies, including R3 and crypto exchnage Binance. Earlier this month, the company partnered with the Singapore Stock Exchange (SGX) to launch iSTOX, a security token offerings (STO) platform. Despite being a blockchain-based platform with associated smart contract protocols, iSTOX will not list initial coin offering (ICO) tokens or popular cryptocurrencies like bitcoin, ether, and XRP, and will only deal in fiat transactions for the sale of tokenized securities.