Aelf, a leading layer-1 blockchain network, has announced the opening of its new global hub in Singapore. This expansion is part of aelf’s ambitious strategy to support the growing developer ecosystem in the Asia-Pacific (APAC) region and beyond.
Aelf’s Strategic Location For A Strategic Move
Aelf, a prominent layer-1 blockchain platform, has unveiled its brand-new global center in Singapore, aimed at boosting the growth of the developer community in the Asia-Pacific region.
This strategic expansion highlights aelf’s dedication to enhancing both Web2 and Web3 developers. To this end, aelf has initiated an innovative program that provides up to $150,000 in grants for each Web2 gaming studio making the leap to Web3. Alongside this, the company has founded aelf Ventures, backed by a $50 million ecosystem fund, and is in the process of setting up a progressive, decentralized autonomous organization.
Located in Singapore’s financial hub, aelf’s new center aims to fast-track APAC developer growth and bring key blockchain partnerships. The office will be a focal point for launching various innovative initiatives:
- TMRWDAO: aelf is gearing up to introduce TMRWDAO, a decentralized autonomous organization (DAO) designed to bring together a diverse array of enterprises.
- Aelevate: The aelevate gaming program by aelf is designed to enable Web2 gaming studios to make a smooth transition into the Web3 arena. Through this initiative, aelf will offer grants of up to $150,000 per studio, along with comprehensive support to facilitate the integration of gaming experiences with the decentralized web.
- aelf Ventures: aelf has rolled out aelf Ventures, backed by a $50 million ecosystem fund, with the goal of investing in and developing projects that bridge the gap between Web2 and Web3. Additionally, the fund will support innovative blockchain projects within both aelf’s and other multichain ecosystems. aelf Ventures adopts a vertical and stage-agnostic approach, concentrating on both strategic and financial investments.
Singapore’s Balancing Act In Favor Of Web3
Singapore’s balanced approach to crypto regulation adopts innovation while minimizing risks, making it a hotspot for companies in the digital asset space. This dual strategy has not only attracted numerous firms but also set a global example for managing digital assets effectively. Beyond regulatory clarity, Singapore offers a skilled workforce and abundant collaboration opportunities, particularly in sectors like Web3 and decentralized finance, strengthening its reputation as a leading crypto hub.
The Monetary Authority of Singapore (MAS) is boosting fintech innovation with a pledge of up to S$150 Million (around US$110 Million) over three years through its updated Financial Sector Technology and Innovation Scheme (FSTI 3.0). This scheme notably includes support for Web 3.0 technologies, signaling MAS’s strong intent to partner with the industry and maintain Singapore’s lead in digital financial innovation.
aelf’s founder, Haobo Ma, said, “These technological developments, such as account abstraction wallets, help make blockchain more accessible as users do not need to remember long alphanumeric codes or complex mnemonic phrases to participate in the Web3 space. Our goal is to enable the transition of current Web2 applications, games, and services to a Web3 environment. The new global hub in Singapore will be instrumental in advancing aelf toward accomplishing this mission.”
While the U.S. faces regulatory hurdles with crypto giants like Coinbase and Binance, Singapore’s approach towards blockchain and crypto offers a promising future. Singapore aims to ride not only the Web3 wave but also ensure every wave is regulated with precision, safety, and vision.
