Tech Consortium Behind Zilliqa Partners German Bank’s Fintech Arm to Explore Blockchain Solutions
According to a press release issued on May 15, 2020, Singapore-based group of technology companies Anquan Capital Pvt. Ltd. – responsible for the launch of the high-throughput network Zilliqa (ZIL) – has joined forces with the fintech arm of German bank WEG Bank AG to explore blockchain applications for banking and financial services. Anquan Capital, the consortium behind the launch of several innovative technology companies including Zilliqa, Anglave, and Agilliz, has entered into a partnership with the fintech arm of the WEG Bank to develop and deploy distributed ledger technology-based (DLT) in the banking industry.
The fintech arm of the WEG Bank, which operates under the brand name TEN31, has positioned itself accordingly at an early stage and bagged permission under the grandfathering rule of the German banking code. By the looks of it, it won’t be far-fetched to imagine that the partnership could tap the Zilliqa blockchain in some capacity to streamline operations within the banking industry.
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