Cake DeFi Launches R&D Hub, Budgets $50 Million for It

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Cake DeFi, the Sin­ga­pore­an fin­tech com­pa­ny, has openned its new glob­al Research and Devel­op­ment (R&D) facil­i­ty, Birth­day Research. The new hub, which will have its head­quar­ters in Sin­ga­pore, will focus on con­duct­ing research and devel­op­ment on open-source blockchains. Ulti­mate­ly it will aim to build cut­ting-edge tech­nol­o­gy for blockchains and dig­i­tal assets. Also, it will be the nerve cen­tre for all future inno­va­tions for Cake DeFi’s line of B2B products.

How the R&D hub could lift Cake DeFi

Node, cus­tody, and keys man­age­ment, as well as a decen­tral­ized “SWIFT,” will be three of the pri­ma­ry areas of atten­tion for Birth­day Research’s blockchain tech­nol­o­gy infra­struc­ture. Not only does the cen­tre hope to address issues plagu­ing more con­ven­tion­al finan­cial insti­tu­tions, but it also hopes to do it in inno­v­a­tive ways. Slow and inac­cu­rate pay­ment trans­ac­tions, a lack of trust and trans­paren­cy, and uneven access to finan­cial ser­vices in dif­fer­ent mar­kets are all exam­ples of such challenges.

Cake DeFi plans to spend US$50 mil­lion over the next four years on research and devel­op­ment (R&D) for the ben­e­fit of the dig­i­tal asset ecosystem’s fin­tech and finan­cial insti­tu­tions. There are cur­rent­ly more than 50 peo­ple work­ing in the company’s prod­uct and tech­ni­cal teams ded­i­cat­ed to research and devel­op­ment. While con­sol­i­dat­ing its research and devel­op­ment in Sin­ga­pore, it intends to increase this num­ber. This will place the new hub at the core of Cake DeFi’s growth.

The blockchain research con­duct­ed by Birth­day Research delves deeply into cryp­tog­ra­phy and finan­cial liq­uid­i­ty. It aspires to facil­i­tate busi­ness­es’ use of decen­tral­ized financ­ing in a reli­able, risk-free, and reg­u­la­to­ry-com­pli­ant man­ner. In addi­tion, it is in line with the goal of the Mon­e­tary Author­i­ty of Sin­ga­pore (MAS) to expand the entire ecosys­tem sup­port­ing dig­i­tal assets. 

Reg­u­la­tors have become increas­ing­ly hawk-eyed on cryp­to com­pa­nies fol­low­ing a year full of mar­ket loss­es. There­fore, reg­u­lat­ed cryp­to ecosys­tems are nec­es­sary for com­pa­nies hop­ing to attract investors.



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