Fintech
FinTech LIVE Singapore: Amberdata Digital Asset Data Keynote
The Journey to Creating Amberdata
Shawn goes on to talk about Amberdata’s founding journey and its subsequent growth path.
He says: “Initially, we saw institutional blockchains as an infrastructure that could potentially be shared between banks and corporations, enabling transparency of accounting records and automation of smart contracts.
“Fast forward seven years and this has largely come true with JP Morgan HSBC and Goldman Sachs, among other major banks, now embracing enterprise blockchain.
“We realized early on that it would take a long time before institutional blockchains were ready. So we pivoted and started supporting public, open blockchains and centralized and decentralized exchanges, knowing that data would be needed to build businesses and inform decisions.”
Amberdata has continued to grow since then, and Shawn now says the company’s growth trajectory has been “mind-blowing.”
“We have five or six major ETFs that comprise $57 billion in notional value in every major bank and every financial services company on the planet right now that are working on tokenizing different products,” he says.
“At the beginning, there were a few million dollars of trading value per day, and now, as I said, we’re north of $240 billion in notional transaction value. So it’s just a huge, huge explosion.
“From a regulatory perspective, it was largely an experiment in the beginning. Now there are very clear regulatory frameworks in many areas of the world and I think people are standardizing and embracing the technology and seeing it as the next iteration of the operational financial fabric going forward.”
More to come in 2024 and 2025…
FinTech LIVE will not only host FinTech LIVE London in October 2024, but FinTech LIVE will return in 2025 in both New York and London.