SINGAPORE, Oct. 12, 2021 (GLOBE NEWSWIRE) -- (via Blockchain Wire) –– Technicorum Holdings, an IT and service group specializing in Digital Assets and successful incubator of innovative DeFi and NFT project: KingSwap, today announced Royal Lion Technologies Pte Ltd, a subsidiary under Technicorum Holding’s group of companies, has become a joint venture strategic business partnership struck with Singapore A&A Blockchain Technology Innovation Pte Ltd. The strategic partnership complements the groups’ strengths and technical advantages to solve existing problems within the blockchain infrastructure. The partnership aims to build a robust blockchain ecosystem and aim to strengthen and reshape the Singapore financial market through blockchain technology and digital assets standards.
“The strategic partnership aligns the unique strengths of Technicorum and A&A Blockchain Technologies under Royal Lion Technologies. By combining our areas of expertise in the fields of blockchain technology and digital asset management. This will allow us to have stronger foundational capabilities to help with business ventures and build trust in the blockchain ecosystem,” said Malcolm Tan, Chief Strategic Advisor for Technicorum Holdings.”
LionOTC, subsidiary of Royal Lion Technologies Pte Ltd is a regulated, premium over-the-counter (OTC) company that has opened a customer service counter to provide an avenue to facilitate fiat to cryptocurrency conversion to the public. LionOTC is a digital payment token service provider regulated under the Monetary Authority of Singapore (MAS), currently under its exempt regime, and undergoing licensing review. The service allows anyone to trade their cryptocurrency assets and with various payments activities in a regulated manner.
The LionOTC office and its counters are located at A&A Digital Asset Management Service Centre on Cecil Street. The counter exchange was established to solve the complicated and time-consuming process to withdraw and deposit funds interchangeably with cryptocurrencies and other payment methods for individual and enterprise investors.
“With the explosion of DeFi and the gradual adoption of blockchain and its underlying technologies - clear and transparent processes are needed to instill trust in the community. With this partnership, we facilitate the enablement of access to digital assets, as well as the numerous financial opportunities that blockchain technology has to offer,” said Keefe Tan, Operations Manager of LionOTC.
LionOTC is regulated under the following license exemptions with the Monetary Authority of Singapore:
1) Providing account issuance service
2) Providing merchant acquisition service
3) Issuing e-money
4) Providing digital payment token service
For more information, please visit www.lionotc.com
ABOUT THE TECHNICORUM GROUP
The Technicorum Holdings consists of several subsidiaries, some of which are regulated, and specializes in various industries in the field of digital assets, DeFi, etc., and is mainly responsible for the KingSwap project, with references from over 100 ICOs completed over the last 4 years, through its subsidiaries.
ABOUT KINGSWAP
KingSwap (https://www.kingswap.io/) is a DeFi project based out of Singapore with a **“regulated” token that introduces a liquidity pool platform with possible fiat conversions. KingSwap’s high-yield liquidity platform offers extensive staking rewards and digital collectibles.
**" Regulated" - KingSwap commissioned Gravitas International Associates Pte Ltd, a Singapore Payment Services Act ("PSA") exempt company, to issue the $KING tokens. A legal opinion regarding the token issuance has been submitted to the MAS in accordance with the PSA requirements. Gravitas has also submitted an application to the MAS for full licensing under the PSA, where the application is pending review. KingSwap itself has no license specific to DeFi projects, as there is no specific legislation anywhere in the world at this point in time pertaining to DeFi. KingSwap stays apprised of developments in the regulatory framework pertaining to the PSA in Singapore.
All product and company names herein may be trademarks of their registered owners.
Media Contact: ima.jamal@technicorum.com
