Top 5 Blockchain Startups In Singapore In 2022

Top 5 Blockchain Startups In Singapore In 2022

Blockchain News
September 14, 2022 by Diana Ambolis
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Singapore is a technologically advanced nation that fosters innovation and has established a welcoming environment for blockchain startups, especially those in the financial technology industry. It is not surprising that this little island nation, one of three in Southeast Asia’s startup golden triangle with Vietnam and Indonesia, is home to 19 unicorns, nine minted in
Top 5 Blockchain Startups In Singapore In 2022

Singapore is a technologically advanced nation that fosters innovation and has established a welcoming environment for blockchain startups, especially those in the financial technology industry. It is not surprising that this little island nation, one of three in Southeast Asia’s startup golden triangle with Vietnam and Indonesia, is home to 19 unicorns, nine minted in 2021.

Singapore and Web3 go hand in hand as the nation positions itself for another boom of digitalization and technological advancement, with the internet evolving once more and better connectivity becoming a reality. With the advent of various new, disruptive corporate apps and processes, the Web3 Singapore trends for 2022 are anticipated to further up the business and technical landscape.

Top 5 Blockchain Startups In Singapore In 2022

The existing thriving startup ecosystem is supported by government efforts and direct foreign investment (DFI) from VCs and individual investors. As Web3 reveals untapped potential in numerous areas of business, finance, and technology, it is anticipated that it will draw on these resources. With an investment of USD 200,000, the incubator program Moonshot Fellowship will launch 10 new firms each quarter to hasten the formation of new businesses in the city-state.

Seedly

New financial assistant platform Seedly was purchased by Hyphen Group, a Hong Kong-based fintech behemoth, in October 2020. The Singaporean startup helps customers choose wiser investments and savings strategies to save and plan for the future. It has established a robust peer advisor community and introduced Seedly TV, an online television channel.

The startup was established in 2016, and that same year, East Ventures and DBS Hotspot made early initial investments. The firm is working with Hyphen to expand its community and improve its banking, investment, and insurance solutions.

Loominate

Loominate, an app marketed as “The $Good Culture,” is a rising star in Singapore’s startup community. It is intended to disrupt corporate culture by enabling employees to interact freely and promote change in their workplaces. The plug-and-play platform leverages decentralized ledgers to allow anonymity and pays rewards in the form of LOOMI tokens.

The business works to encourage innovation and workplace community development in businesses of all sizes. The app, which is still in its starting stages of development, already receives about 1,480 visits per month, and this number is anticipated to rise as the business expands.

Worx Blockchain

Blockchain Worx offers integrated DeFi platforms for fintech and regulation technology (regtech) firms using various blockchain technologies. This Web3 firm primarily develops customized systems using Quorum, Ethereum, and Hyperledger Fabric to establish “next-generation digital platforms and ventures.”

A round seed investment was made in 2019, two years after it was founded by Floyd DCosta, Narayan Neelakantan, and Sumantra Naik. It collaborates closely with some of the greatest names in technology and finance, such as Microsoft for Startups, Oracle, and PricewaterhouseCoopers.

Also Read: Bitget and BitKeep Announce Partnership to Introduce First-Ever Launchpad

Avalanche

Avalanche creates a quick-acting platform for programmable smart contracts using decentralized blockchain technology, opening up a world of financial potential for entrepreneurs. The platform embraces Web3 technologies of art and collectible NFTs while protecting other digital assets like contracts and digital identities for governments, institutions, and private enterprises. Transactions are nearly instantaneous, and enhanced security is provided by AVAX tokens used to pay processing fees.

Avalanche delivers programs and creates subnets on a decentralized ledger, giving customers control over compliance and data security and being interoperable with Ethereum dApps. The business has also invested in other firms since January 2021, helping to fund a $22.4 million initial round investment in the blockchain startup Nomad in California in April 2022.

MetaLoka

The virtual world has been humming since Mark Zuckerberg of Facebook said that the business was putting all of its money into the Metaverse. A Singaporean firm, MetaLoka, is taking advantage of the excitement and has caught the attention of well-known financiers like Herbert Sim, aka “The Bitcoin Man.”

The augmented and virtual reality firm will be able to expand its platform and continue to build its immersive play-to-earn game with the support of Mr. Sim’s funds and advice. This time-traveling virtual environment will benefit from Web3 technology and the growing popularity of NFT-based gaming when its initial edition debuts in Q2 of 2022.

As a nation, it is eager to adopt technology and maintain its standing as Asia’s Silicon Valley. The country expects a rise in investment in blockchain and DeFi technologies as new Web3 Singapore trends emerge, potentially spawning new unicorns. If the skill pool in the country expands and government and privately sponsored incentives to digitize corporate processes continue apace, Singapore and Web3 are the ideal partners.