Standard Chartered Singapore’s Former CEO Joins STACS as Chairman
by Fintech News Singapore January 27, 2021Ray Ferguson, the former CEO of Standard Chartered Singapore, has joined Hashstacs Pte Ltd (STACS), a Singaporean blockchain development company, as its Chairman.
STACS is focused on capital markets use cases such as the trade lifecycle management of bonds, Environmental, Social, and Governance (ESG) fintech, structured products, and exchange-traded derivatives.
In his new role, Ray will support STACS with its deeper understanding of capital markets and how boards of multinationals think about emerging disruptive technologies, further developing its business strategy and strengthening its standards of governance.
Key upcoming plans for STACS under Ray’s leadership will include embarking on a fund raise later this year to scale the business, onboarding more strategic investors, and furthering its ecosystem expansion with more industry partners, especially in connection with the theme of ESG and green fintech.
In addition to his new role at STACS, Ray also holds other roles including as Chairman of Singapore-based technology insurance platform Aviva Singlife Holdings.
Ray Ferguson, Chairman of STACS said,
Ray Ferguson
“I believe STACS has the potential to become a globally renowned infrastructure player for the financial services sector built on it’s DLT backbone, leveraging the proven strength of governance and infrastructure here in Singapore.
Finally, we need customers and partners that are global in order to become a global institution ourselves, and this is where I will focus my energies — identifying propositions that allow us to work with the biggest banks and institutions in the world.”
In December, Malaysia’s national stock exchange Bursa Malaysia partnered with STACS to conclude a trial using the blockchain to facilitate the growth of the bond marketplace via its Labuan Financial Exchange.
More recently in January, Deutsche Bank collaborated with STACS on a strategic initiative related to the technological and practical feasibility of digital assets interoperability, liquidity, cross-border connectivity, and smart contract templates.
Featured image: Ray Ferguson, Chairman of STACS
