Hashed to establish its new innovation lab, “ShardLab”, to lead the mass adoption of Web3 technologies

Seoul, South Korea | September 27, 2023 06:52 AM Eastern Daylight Time

SCB X Public Company Limited (SCBX), the ‘mothership’ of Thailand’s leading financial technology group and the parent company of Siam Commercial Bank, has embarked on a groundbreaking collaboration with Hashed, a global leader in Web3 venture capital. Through its recognition of an evolving landscape of technology and finance, SCBX has unveiled another ambitious new vision to transform itself into a real tech company, with a strong emphasis on pioneering initiatives such as blockchain and AI. This innovative partnership thus, aims to spearhead research and development efforts in Web3 technology trends, including blockchain and AI, with the goal of adapting these cutting-edge initiatives for broader public market adoption.

Hashed, known for its unwavering commitment to fostering the mass adoption of Web3 technologies, has aligned its vision with SCBX's goals. The memorandum of understanding (MOU) signed between SCBX and Hashed solidifies a strategic research and development partnership that will explore the potential of Web3 technology in various business areas.

As part of this collaboration, Hashed will conduct a test bed for Web3 technologies via its new innovative hub, ShardLab, such as account abstraction and a series of experimental pilots across diverse sectors, harnessing the potential of blockchain and other Web3 advancements. One of the standout features of this partnership is the co-funded R&D project. Both SCBX and Hashed will pool resources to drive research that not only advances technology but also explores ways to integrate blockchain innovations into SCBX's affiliates and services. This ambitious venture aims to deliver practical and innovative value through the incorporation of Web3 technology.

“I am deeply resonated with SCBX's visionary goal of propelling the adoption of Web3 technology across Southeast Asia. It's a privilege for Hashed to assume a pivotal role as its partner in this transformative journey. This partnership amalgamates the expertise of a reputable institution with the technological and philosophical foundations of Web3. I am confident that this partnership will significantly nurture the growth of the Web3 ecosystem, extending its influence not only across Southeast Asia but also on a global scale." - Simon Seojoon Kim, CEO & Managing Partner, Hashed.

In tandem with their cooperative research endeavors, SCBX and Hashed will orchestrate a sequence of conferences and gatherings designed to cultivate the expansion of the Web3 ecosystem. These comprehensive initiatives encompass conferences dedicated to Web3 education and business networking, along with specialized talent bootcamps aimed at fostering the growth of skilled developers and creators within Thailand and Southeast Asia. These occasions will serve as a nexus for both well-established Web2 enterprises and burgeoning Web3 ventures, fostering connections, collaborative efforts, and meaningful contributions to the holistic advancement of the blockchain industry.

This partnership marks a significant milestone in the evolution of both SCBX and Hashed. By leveraging SCBX's established position in the Thai financial sector and Hashed’s expertise in Web3 technology, the collaboration is set to drive meaningful advancements in the realm of decentralized technology and innovation. The collective efforts of these two powerhouses are anticipated to contribute to the acceleration of Web3 mass adoption and the continued growth of the global Web3 ecosystem.

Dr. Arak Sutivong, Deputy CEO of SCB X Public Company Limited (SCBX), said “SCBX’s key milestone is to establish itself as a leading regional financial technology group. To achieve this goal, it is crucial for the company to conduct new experiments and transition into a technology-focused entity. We are thrilled to announce our collaboration with Hashed, a global leader in Web3 venture capital. Through this partnership, we will collaborate on research and development of cutting-edge technologies that will shape the future of finance.”

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About SCB X Public Company Limited

SCBX is the mothership of the financial technology business group, comprising Siam Commercial Bank, SCB 10X Co., Ltd., Card X Co., Ltd., InnovestX Securities Co., Ltd., Purple Ventures Co., Ltd., AutoX Co., Ltd., and other companies. Aspiring to become ‘The Most Admired Regional Financial Technology Group’, SCBX drives and powers the development and execution of strategic initiatives, with a particular emphasis on financial enterprises and digital technologies. This includes pursuing new business opportunities, M&A, strategic investments and partnerships. It captures some of the biggest growth opportunities with superior returns, by adapting to consumers' changing behaviors and demands in a timely manner. These industries stand to improve the overall quality of life while serving a greater purpose. The company conducts business with flexibility and prudence in governance and risk management and has the potential to compete equally in global competitions.

About Hashed

Hashed is a team of blockchain experts and builders based in Seoul, Singapore, Bengaluru, and Silicon Valley. We believe that decentralization can transform not only the global economy but the very fabric of the internet. Our mission is to accelerate the mass adoption of blockchain by investing our resources and empowering a new wave of entrepreneurs and innovators to create this future.

Disclaimer: This article is based on information available at the time of writing and may be subject to change as further developments unfold.

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