Chintai was launched in 2018 to create a financial system that offers equal opportunity to all market participants. Built on ideals of fairness, efficiency and transparency, this Singapore-based company has developed an impressive product suite for issuing and managing customized digital assets. Recently, Chintai received $7.5 million in seed financing from several prominent funds, including lead investor Block.one, Cryptology Asset Group, Collective Capital, PEER Venture Partners, and Chimera Wealth. According to the press release, these funds will be used to "enable compliant tokenization of traditional financial assets on [Chintai's] blockchain network."
This is an exciting development for decentralized finance in general. But Chintai's commitment to transforming capital markets with EOSIO technology makes it particularly good news for the EOS community. Block.one and the other contributing funders definitely appear to have picked a winner.
Here's what Chintai COO Ryan Benthem had to say about it:
"The funding gives us the opportunity to execute on our mission. Chintai provides the world with the most efficient technology possible for the creation, trading, and maintenance of financial assets. We are building a fair, transparent, inclusive financial system that has no operational bias towards social status, monetary wealth or position of power."
"What sets us apart is combining compliance with decentralized finance instruments. Having a compliant digital asset product suite will allow traditional financial assets and products to be ported to blockchain technology. As the majority the worlds assets move to blockchain, financial opportunity can be democratized, especially for average people and smaller enterprise."
Compliant Digital Assets
Chintai places regulatory compliance at the center of its offerings. The company is currently seeking Recognized Market Operator (RMO) and Capital Markets Services (CMS) licenses with the Monetary Authority of Singapore (MAS). Any project's compliance requirements can be codified in a jurisdiction-specific manner as part of Chintai's asset customization process. The company combines this regulatory compliance with other offerings including actual asset issuance, secondary trading, automated market making, cap table management, and custody.
These services and more are included in Chintai's comprehensive asset issuance platform. By taking care of so many aspects of asset creation and management, the company aims to greatly reduce administrative costs for regulated asset issuers. An institution issuing regulated assets such as securities, debt, or real estate can expect administrative cost savings of 50% or more using Chintai's platform. And the company's smart-contract-based Sentinel-AI transaction monitor is designed to ensure that compliance controls are correctly applied and audit trails are perfectly generated.
Game Changing Technology
By now, it's common knowledge that blockchain has the potential to revolutionize finance and reshape capital markets. Chintai appears to have figured out how to actually do this using EOSIO technology. And not just for minor use-cases here and there, but for major markets. The debt market is massive. So is the securities market. And the real estate market. More and more operators in these markets are becoming interested in the power of blockchain to improve their bottom lines. Chintai is creating a clear path for them to do so.
At the same time, Chintai doesn't seem to be catering exclusively to big institutional players. In fact, this company's offerings appear to level the playing field for small and mid-sized operators. By automating both technical and legal procedures in a way that makes traditional forms of financial industry discrimination impossible, Chintai is establishing a new, more inclusive business culture. And the $7.5 million the company just received will go a long way towards making its aspirations a reality.
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