Xavier Kong · · 1 min readCrypto firm launches global research hub in Singapore
Cake DeFi, a Singapore-based crypto firm, has rolled out a global research and development hub in the city-state. Called Birthday Research, the centre will focus on developing blockchain and digital-asset technologies.
Image credit: Cake DeFi
Cake DeFi has committed to investing US$50 million into R&D over the next four years, aiming to develop new products for fintech and financial institutions dealing with digital assets. The funds will also go toward doubling the firm’s existing R&D headcount to over 100 staff.
“Birthday Research’s R&D on blockchain technology dives deep into cryptography, financial liquidity, and more, with the aim of allowing decentralized finance to be leveraged by enterprises like us in a trustworthy, safe and compliant manner,” said Cake DeFi co-founder and chief technology officer U-Zyn Chua.
The research hub will work on blockchain technology infrastructure and interbank financial telecommunication for decentralized finance as well as solving problems such as slow payment transactions and unequal access to financial services across markets.
Editing by Samreen Ahmad and Arpit Nayak
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