SINGAPORE, Aug. 19, 2024 /PRNewswire/ -- Sparrow, a fully-licensed Digital Payment Tokens (DPT) service provider in Singapore, was awarded the Monetary Authority of Singapore's (MAS) Financial Sector Technology and Innovation (FSTI) Innovation Acceleration (IA) grant on July 23, 2024, in partnership with RigSec. The FSTI IA grant provides funding support for experimentation, development, and dissemination of nascent innovative technologies in the financial services sector.
Sparrow, a subsidiary of Amber Group, recognizes the need to balance regulatory compliance with operational efficiency and robust risk control. To address this challenge, Sparrow is adopting a state-of-the-art self-custody solution powered by hardware security modules (HSMs). This approach directly addresses the limitations of existing third-party custody services, which often struggle with limited risk control and reduced business efficiency.
By integrating RigSec's HSM-based enterprise-level self-custody solution, Sparrow will deliver military-grade security for private key management and enhanced risk controls, ensuring Sparrow's customers' funds stored in the cold wallet are well-protected. These measures align with the MAS regulatory requirements for cold wallet storage. Furthermore, the solution's modular design will not only enhance security and efficiency for Sparrow but also aims to serve as a valuable reference model for other digital asset custody providers, promoting industry-wide advancements.
About Sparrow
Headquartered in Singapore, Sparrow provides a secure, compliant, and intuitive trading platform, along with bespoke digital asset solutions catering to individuals, financial institutions, and family offices. Established in 2018, Sparrow, through its entity Sparrow Tech Private Limited, holds a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS). This enables Sparrow to offer Digital Payment Token (DPT) services in Singapore under the Payment Services Act (PSA).
About Amber Group
Amber Group is a global digital asset leader headquartered in Singapore. Since 2017, we've built full-stack solutions that bridge traditional finance and digital assets, offering end-to-end services including wealth management, asset management, market making, advisory, investing and infrastructure. Backed by top investors and with deep expertise in crypto and traditional markets, we leverage AI, blockchain and quantitative research to deliver personalized and cutting-edge solutions to help our global client base of HNW individuals, institutions, crypto funds, exchanges and projects optimize returns safely in any market conditions.
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** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
Sparrow, Amber Group's Subsidiary, Awarded MAS FSTI Innovation Acceleration Grant for Enhanced Digital Asset Self-Custody Solution
Singapore Kicks Off the First Stop of TME's Music Journey to the World
SHENZHEN, China, Sept. 12, 2024 /PRNewswire/ -- On September 11, 2024, Tencent Music Entertainment Group (TME) announced the launch of its Global Music Outreach Initiative, which will bring together talented Chinese music artists and their works to be showcased on prominent stages worldwide. The initiative will kickstart in Singapore from September 13 to 17, beginning a broader series of music and industry exchange activities around the world, including overseas performances, international music creation exchanges, and discussions on future industry development. As Chinese culture continues to capture global attention, TME aims to leverage its platform and technological strengths to open up new international markets for Chinese artists, enhancing their global presence and creating fresh opportunities for industry growth.
The Singapore leg of TME's Global Music Outreach Initiative marks a major step in introducing Chinese music to the world. Set against the Singapore Grand Prix Season (GPSS), TME will present live performances by prominent Chinese acts—Liu Lian, Liu Binhao, Lu Zhengting, Qian Runyu, and the band Sir Deer—while also hosting music sessions, campus visits, and industry forums. These high-profile events are designed to highlight the distinct and compelling qualities of Chinese music to a global audience.
In conjunction with these activities, TME will also take part in the Asia-Pacific music forum, Music Matters, demonstrating its commitment to exploring new opportunities and driving conversations about global music trends. Additionally, Chinese musicians will engage with students and faculty at local universities, fostering meaningful cultural exchanges. This broader engagement underscores the initiative's aim to expand the reach and influence of Chinese music.
As part of its groundbreaking Global Music Outreach Initiative, TME has teamed up with People's Daily, a prominent voice in Chinese media, to create the theme song "Hear It," featuring the first-ever collaboration between Chinese singer-songwriter Tia Ray and Additionally, a special version of "So This Is the Sea" will be released the same day on TME's platforms, including QQ Music, Kugou Music, and Kuwo Music, celebrating the spirit of cultural exchange through music.
Underscoring TME's dedication to elevating Chinese music on the global stage and redefining its international presence, the Global Music Outreach Initiative is committed to showcasing the talents of Chinese artists while fostering cultural exchange between China and the world. After its debut in Singapore, the initiative will expand to other countries and regions, furthering TME's mission to share the vibrant and multifaceted nature of Chinese music with audiences worldwide.
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
Tencent Music Entertainment Group Launches Global Music Outreach Initiative
Tencent Music Entertainment Group Launches Global Music Outreach Initiative
Tencent Music Entertainment Group Launches Global Music Outreach Initiative
Tencent Music Entertainment Group Launches Global Music Outreach Initiative
