Founded in 2019, STACS has now raised a total of more than $6 million and is preparing to raise Series A funding later this year. The company’s goal is to fix fragmentation in the tech systems used by financial institutions that can result in capital being locked in international clearing systems, a build-up of transaction fees and fines for trades that fail to settle. It allows clients to integrate payment platforms (including Ubin), trading platforms and external software like user management systems, while enabling smart contracts and digital ledgers.
- STACS’ products include a real-time trade processing platform that is used by clients like Eastspring Investments and BNP Paribas Securities Service.
- STACS announces the launch of its full suite of ESG solutions for banks, stock exchanges, asset managers, corporates, and SMEs, as part of its refreshed vision as “The Nexus of ESG Finance”.
- Sustainability reporting is now an imperative practice for the world’s top 250 companies, underscored by stringent regulations in the EU.
In the year ahead, ESG will continue to be a major theme, with the emergence of new technology platforms to serve growing business needs around ESG certification and related finance. For the city-state to position itself as a leading global green fintech hub in Asia and beyond, we believe there are three key priorities it must not lose sight of. With a common vision to enable sustainability amongst companies of all sizes, TÜV SÜD PSB and STACS today announced their partnership on ESGpedia, via TÜV SÜD’s Sustainability-as-a-Service (SaaS) programme.
ESCAP Roundtable: Launch of ESBN Green Deal Assessment for Businesses
Razer customers globally will be empowered to engage in conscious choices and participate in carbon offsets, through its newly-launched Restorify service. The partnership is powered by STACS’ Carbonpal platform, which is a carbon credits digital management platform that facilitates the fractionalisation of carbon credits for purchase by end consumers. The live use cases set a precedent in their various industries and can be replicated across Asia to empower businesses in their green and decarbonisation journey via better data, digital tools, and effective ESG financing. Real estate companies are set to face reduced funding opportunities if they don’t comply with sustainable practices, as financiers are increasingly favouring sustainable green buildings.
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Stay ahead of the game and explore the free resources available to guide you in taking the necessary steps to driving sustainability for your business. Learn how businesses can comply with increasing ESG regulations, gain a trustworthy view of their suppliers’ sustainability standing, and take action with the embedded Scope 1, 2 and 3 carbon emissions calculator on ESGpedia Nexus. Ray Ferguson, the former CEO of Standard Chartered Singapore, has joined homegrown fintech start-up, STACS, a leading Singapore-headquartered fintech development company providing transformative technology to the financial services sector, as Chairman. Eastspring Investments, https://cryptolisting.org/ BNP Paribas Securities Services and STACS collaborate to develop blockchain-powered trade lifecycle management solution, unlocking efficiencies while reducing costs for financial institutions. With Singapore being the long-standing data centre hub of Asia Pacific, RDA and STACS have entered a strategic partnership to provide a holistic platform to transform Singapore’s data centre industry, and shape a sustainable digital future, through STACS’ ESGpedia. This is aligned with the Infocomm Media Development Authority’s and Economic Development Board’s initiative that aims to allow the “calibrated and sustainable growth” of data centers in Singapore.
Aligned with the consensus that Asia is where the fight against climate change will be won or lost, we presented our solution to enable companies on a clear pathway towards net zero, as well as launched our carbon credits solution with Razer as our first partner. Take a deep dive into ESG ratings and explore how primary ESG data housed in a standardised digital registry, enables better ESG risk management and decision-making. View the key highlights at GAIL 2023, as STACS was invited to the sustainability forum, joining experts, green companies, and a keynote from Deputy Prime Minister Heng Swee Keat to discuss the actions needed to best drive global decarbonisation. Find out more about what is needed to scale ESG for impact, and transition from a brown to green economy.
On the other hand, Singapore is on track to becoming the greenest city by 2030, and is set to achieve 80% of green buildings by 2030. Learn more about green building certifications and regulations, as well as how technology can empower Corporates, SMEs, and Financial Institutions to jointly attain sustainable real estate. Large corporates were fined million of dollars last year due to ESG misstatements investigated by the US Securities and Exchange Commission.
Decarbonising Asia Supply Chains for Global Competitiveness
Singapore will continue leading the region’s sustainable development towards net zero and ESG Finance, across various industries including carbon credits, fashion and textile, real-estate, hospitality, e-commerce, and more. Read our 2023 ESG Finance outlook on how every sector needs to step up their green efforts this year, or fear losing competitiveness and being left behind. STACS’ goal is to make GreenSTACS “the common infrastructure” for ESG financing and impact monitoring, he added. The platform enables loan and bond parameters to be programmed into security tokens and connects with data sources, like IoT devices or satellite images, to create real-time impact reports on a distributed ledger.
STACS shares with The Digital Banker on the impact of such infrastructure and discusses alternatives. STACS is featured in the May 2021 The World Economic Forum report, as one of the few live DLT platforms for effective Trade Lifecycle Management for the financial industry. STACS appoints new leadership role, Sharon Yuen as the new Chief Commercial Officer, who will be steering the firm’s business development and sales efforts. Prior to joining STACS, Sharon worked in IHS Markit as Director of Sales, Head of ASEAN Sales and Strategic Alliances within ASEAN and Greater China at R3, and most recently served as Business Development Director at KX, focused on extending its financial services business in the region. STACS’ ESGpedia ensures the integrity of the RECs traded, enhancing trust and adoption amongst market participants, accelerating the country’s carbon neutrality goal. Timed fittingly at the start of 2023, we embarked on our company retreat to the beautiful tropical beaches of Desaru, Malaysia, to foster deeper bonds with our team members and align on our common goal of bringing forward the future of Sustainable Finance.
Governmental bodies are set to enforce clearer sustainability policies, and China is no exception, as they are already on track to mandating ESG disclosures. Discover how to stay ahead of tightening governmental regulations, and use existing ESG data and tools to support your business to a low-carbon transition. Get exclusive first access to our digital corporate disclosure for SMEs, coming soon in May 2023. Why should businesses pursue sustainability certifications and which certifications are best suited for each industry? Also discover how ESGpedia’s free Data Dictionary tool helps digitalise and streamline the process for companies intending to embark on their sustainability journey, with a clear overview of Certification Bodies, Assurance Partners, and Data Partners, broken down accordingly by sectors and regions.
The latest ESGpedia’s solutions were showcased at STACS’s industry event on 23 May 2023, led by several partners including MUFG Bank, UOB, Maxeon Solar Technologies, and Teo Garments, as they highlighted use cases of ESGpedia enabling data-driven sustainability across various sectors. Maxeon has embarked on leveraging holistic ESG data and digital tools on ESGpedia for monitoring the sustainability performance of suppliers in its end-to-end supply chain. Via the partnership, Maxeon is enabled to select suppliers based on their emissions and provide greater transparency of its carbon footprint for its stakeholders. Citadines Bali will be the first hotel in Bali to adopt digital tools to track emissions from its operations, which can be replicated to enable other hotels or buildings who are transforming to be more sustainable by utilising holistic ESG data and digital tools. The partnership involves the technical integration of EnOSTM, Envision Digital’s net zero platform for decarbonisation to the ESGpedia digital registry, which powers the ESG Registry of the Monetary Authority of Singapore’s (‘MAS’) Project Greenprint.
STACS announced today that it has become a portfolio company of PwC Singapore’s Venture Hub programme. The joint business relationship will bring about synergies between the two firms, while helping to elevate trust placed in distributed ledger technology (DLT) by the financial services industry and driving adoption. Joined by an esteemed speaker lineup of industry leaders, STACS Managing Director Benjamin Soh discussed the latest trends and applications of digital technologies in ESG Finance alongside MAS, MUFG, and more. Headline topics include bridging a US$2.5 trillion green funding gap, to establishing a common green infrastructure for Singapore, right down to how COVID has brought a positive impact amidst climate change. The technical integration allows for ongoing project data from U-Reg to be ingested on the ESGpedia registry, starting with the renewable energy sector from projects in Europe, with future plans to cover other sectors.
This helps prevent “greenwashing,” a term that refers to making something seem more environmentally friendly or sustainable than it really is. Tune in as our new Chairman, Ray Ferguson and Managing Director, Benjamin Soh dive into Environmental, Social, and Governance (ESG) and green fintech as they discussed how STACS is seeking to provide a nexus between the financial ecosystem and the physical world for more effective implementation of green finance. STACS announces the launch of its full suite of ESG solutions for banks, stock exchanges, asset managers, corporates, and SMEs, as part of its refreshed vision as “The Nexus of ESG Finance”. The full suite of ESG solutions – ESGpedia, Vetta smart contract platform, and ESG Playbooks – aims to enable effective Sustainable Finance.
The Future of Real Estate: How Sustainable Green Building Is Changing The Industry
Singapore-based fintech Hashstacs Pte Ltd (STACS) announced today it has raised $3.6 million USD in pre-Series A funding. The company develops blockchain platforms that can work with financial institutions’ existing infrastructure, and its core technology is also used in GreenSTACS for environmental, social and governance (ESG) investments. The round was led by Wavemaker Partners, which focuses on enterprise and deep tech companies in Southeast Asia, with participation from the Tribe Accelerator, a program for blockchain startups backed by the Singaporean government.
Reap the full benefits as an early adopter and learn about the international reporting frameworks, challenges, and gain access to our free ESG Starter Tool. CoinMarketCap Academy takes a deep dive into Stacks, a Bitcoin layer building on top of Bitcoin’s proof-of-work consensus mechanism. STACS provides developers the ability to check for accidental inclusion of static credentials and key material in their releases and source code. Stacks brings DeFi to Bitcoin, unlocking over $300 billion in capital and setting the stage for activation of the Bitcoin economy. The consensus mechanism that connects Stacks and Bitcoin, allowing applications to benefit from the security of Bitcoin. The mission of the Stacks project is to enable a better internet through decentralized apps.
STACS is a YARA powered static credential scanner which supports scanning of both text and binary files, analysis of nested archives, composable rulesets and ignore lists, CI / CD system integration, and SARIF reporting. Clarity is a safe language to program smart contracts for Bitcoin; it’s designed to prevent the many bugs and exploits prevalent today. Hold and temporarily lock STX, Stacks’ native currency, and support the network’s security and consensus. Activate the Bitcoin economy with apps & smart stacs token contracts that use Bitcoin as a secure base layer. In celebration of the upcoming sixth anniversary of enterprise blockchain, STACS hosted a global industry panel with The ValueExchange on 7 July, with esteemed speakers from the Singapore FinTech Association, and the Union Bank of the Philippines. The second edition of STACS Showcase, a celebratory and collaborative fintech event, happened during the week of Singapore FinTech Festival (SFF) earlier this month, 8 – 12 Nov, as a digital event.