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Alchemy Pay CEO Speaks at U.S. Trade Mission in Singapore and Demonstrates Broadening Acceptance of Crypto


Singapore, Singapore - December 28, 2021 (Newsfile Corp.) ( Newswire) This month, the Virtual Trade Mission for Blockchain, Crypto & Digital Asset Funds was hosted by the US Embassy in Singapore and the US Department of Commerce. The event was a chance for Asian investors to meet with leading US blockchain and crypto fund managers. The success of the event demonstrated that interest in crypto is broadening and that the United States and Asia remain at the forefront of global support for this innovative technology.

For the Department of Commerce, this is an opportunity to work on extending US asset managers' position in the crypto and digital assets area for Asian companies, and introducing new avenues to do so.

Asian investors were given the chance to virtually "speed-date" with US fund managers. Guests were introduced to several investment strategies in 15-minute periods. Nowadays, blockchain-related strategies include venture capitals, hedge funds, and tokenization, to name a few. After a successful event the closing speech was given by Alchemy Pay's CEO, John Tan, on behalf of the recently formed Blockchain Infrastructure Alliance.

Despite the Chinese government's move to ban all crypto-related activities, Asia still remains the world leader in crypto adoption and use. Asia's early embrace of NFTs and blockchain gaming has been a key driver of interest. Mark Zuckerberg's recent pivot to the metaverse is bringing another wave of investment to crypto where the metaverse concept has been in development for a long time.

For the US, the Trade Mission is another sign that the industry is moving further into the mainstream and has the attention of mainstream investment institutions. This investment has supported digital assets and blockchain infrastructure in a variety of ways beyond just holding Bitcoin. High profile projects such as FTX exchange or MoonPay have received huge funding, demonstrating a growing belief in an economy around crypto. Indeed, crypto startup investment has never been stronger. A report by the crypto data firm CB Insights, showed that the third quarter of 2021 was the biggest ever for crypto startup investing, globally.

During his address, Tan highlighted the progress he had seen over the past 18 months and BIA's ability to create a cohesive, connected infrastructure for the blockchain industry. He later remarked on the forward-thinking nature of the organisers and the significance of the event, "we are very happy to see the positive approach that the US Department of Commerce is showing the industry with this event here today. This Trade Mission shows the high level of interest from investors for crypto and for all forms of digital assets."

Blockchain-focused US Trade Missions have so far taken place in Germany, Switzerland, and Hong Kong, and Singapore. Jacob Katsof, Vice President of who runs the blockchain efforts says that 2022 will include Trade Missions to the UAE, Mexico, UK, in addition to to Singapore, Hong Kong, Germany and Switzerland. These events are evidence that mainstream society is now acknowledging a future in which blockchain technology and cryptocurrency will play a major role.

About Trade Missions

Trade Missions, in collaboration with the US Department of Commerce's International Trade Administration, organizes Trade Missions to help US Alternative Asset Fund Managers connect with capital sources. The purpose of the Trade Mission is to assist US fund managers in raising capital outside of the United States. It has effectively assisted many of America's fund managers in obtaining capital from throughout the world.

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About BIA

The Blockchain Infrastructure Alliance (BIA) was founded by a group of seasoned incubators, with Alchemy Pay, Conflux Network, Polyon, NEAR, and NEO as founding members. The BIA believes that sharing expertise, viewpoints, and resources is mutually beneficial as friends and industry veterans. They recognize that the expansion of blockchain networks has created new issues, and they see the necessity to provide infrastructure that connects blockchain.
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