Fintech Firm Trovio Expands Presence In ASEAN Region With New Singapore Officebr>
Trovio, formerly InfiniGold who operates a blockchain-powered platform for the digitization of gold and other precious metals, has announced that they have established a foothold in Singapore.
Established in 2017, Trovio has developed a platform for infinite fractionalization and digitization of physical commodities. The company is a market leader in innovative product launches, having successfully issued the Perth Mint Gold Token, the world’s first digital gold token on a public blockchain backed by government-guaranteed gold.
According to Trovio, they decided to established their regional office in Singapore because the country has proved itself as an important focal point for gold trading in the ASEAN region.
Trovio recently became the first fintech company to be welcomed into the Singapore Bullion Market Association (SBMA), as the gold industry looks to leverage the new methods and technologies offered by digitization.
“The global precious metals industry is making huge strides in working to both understand its carbon footprint and ensure that the physical metal is responsibly sourced. Joining the SBMA is particularly apt for Trovio as we are committed to providing our partners in APAC with technologies that enable new digital market pathways, traceability on supply, and access to an increasing suite of sustainable precious metals products,” Jon Deane, CEO of Trovio, said.
Trovio has also recently joined the Singapore Fintech Association (SFA), whose membership had swelled from 350 groups in March to 780 as of September 2020. The fintech community in Singapore has grown rapidly over the past five years, with traditional financial institutions increasingly adopting financial technology as a means to innovate and transform.
Trovio is leveraging Singapore as a launchpad into the rest of Southeast Asia – providing an opportunity to access more than 650m people in the region. With China’s largest technology and financial services companies recently stepping up efforts to expand into Singapore, the Asian finance hub has become crucial for international growth and access to the Shanghai Gold Exchange (SGE) – the largest purely physical gold spot exchange in the world.
“As Singapore’s fintech ecosystem continues to grow and mature, Trovio strives to collaborate with strong ecosystem players to empower our community and vision, in deploying new technology solutions for the next generation and the quickly evolving investment landscape with regards to ESG and market access,” added Deane.