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<v Speaker 1>Hey, folks. We're recording at Halburn's Access Summit at the

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<v Speaker 1>New York Stock Exchange and joining me is Henry Zang,

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<v Speaker 1>who is the founder and CEO of DGFT. Henry, great

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<v Speaker 1>to have.

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<v Speaker 2>You, Thank you, thank you for inviting me for your podcast.

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<v Speaker 1>Absolutely, I'm really looking forward to learning about what you're

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<v Speaker 1>doing at DGFT. Let's start with your background. Where are

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<v Speaker 1>you from? How'd you get into crypto.

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<v Speaker 2>Okay, yeah, given my age, I started with traditional finance,

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<v Speaker 2>not called the traditional finance, but I would rather say

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<v Speaker 2>this as a mainstream finance. So I'm working in the

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<v Speaker 2>financial industry for more than two decades, mainly with City

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<v Speaker 2>with Standard chartered and always on the East West Bank,

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<v Speaker 2>mostly in Asia. Different functions brought me to crypto is

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<v Speaker 2>in my twenties, which is in the year of twenty

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<v Speaker 2>two thousand. It's a two thousand time. That was internet

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<v Speaker 2>at the time. That was internet at the time. I

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<v Speaker 2>was the e commerce head when I worked for City,

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<v Speaker 2>so I'm pretty much wept to og so starting Funders

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<v Speaker 2>twenty in two thousand. In my twenties, in my role

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<v Speaker 2>as an e commerce head, I built the first online

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<v Speaker 2>payment system for in the Asian market. I thought it

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<v Speaker 2>was a very cool product because you make a payment

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<v Speaker 2>electronically rather than paper based and effects to the bank

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<v Speaker 2>to make the payment and then people call back right

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<v Speaker 2>then become electronic and as a time, people talk about

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<v Speaker 2>the internet would be the future in the ten years,

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<v Speaker 2>everybody very brutish convinced, but people don't know what's going

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<v Speaker 2>to happen entertainments. Later on, this product become a very

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<v Speaker 2>successful and profitable, commercially successful product. But actually it's on

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<v Speaker 2>that that's starting from the online payment, go to the

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<v Speaker 2>online banking, then go to the online finance. Then the

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<v Speaker 2>whole thing tech build on the internet. So that was

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<v Speaker 2>my experience twenty five years ago. Not coming to continue

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<v Speaker 2>my banking career in different roles, different jurisdictions, I appreciate that,

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<v Speaker 2>but I have this kind of memory and continue to

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<v Speaker 2>monitor the whole world because as a time I have

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<v Speaker 2>a great company come out like a paper or issue

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<v Speaker 2>market like ldipay blah blah. Theyater to become huge companies.

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<v Speaker 2>Then coming to this web sree, it's that time internet.

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<v Speaker 2>Now we give it the name of a Web three

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<v Speaker 2>next generation of Internet not only transferred information, it's transfer

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<v Speaker 2>values giving my financial background and giving my tech background

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<v Speaker 2>and my proder background. About twenty five years ago I

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<v Speaker 2>realized this is something big, probably even bigger than Internet

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<v Speaker 2>next generation, last generation that's called the web stream, a

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<v Speaker 2>blockchain based because can transfer value. I'm so passionate about that.

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<v Speaker 2>That's why I say, let me do something, engage early.

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<v Speaker 2>I was early in the last wave. I want to

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<v Speaker 2>be early in this way, but in a different way

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<v Speaker 2>as a as a builder, as an entrepreneur, rather than walking

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<v Speaker 2>on on our platform. So I build the DGFT five

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<v Speaker 2>years ago.

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<v Speaker 1>So do you see You know your background in the Internet,

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<v Speaker 1>in e commerce, and you mentioned payments that where we

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<v Speaker 1>are now with blockchain and the movement of value. It

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<v Speaker 1>is a natural evolution of payments and the Internet.

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<v Speaker 2>Very true, you know. It is about the financial market

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<v Speaker 2>right and also very important is about the money. Now

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<v Speaker 2>we talk about stable coin or CBDC or tokenize the deposit,

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<v Speaker 2>which is a hot topic today in the in the

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<v Speaker 2>in the conference, which I think very very important because

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<v Speaker 2>the money no matter, no matter called the stable coin

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<v Speaker 2>or CBDC or whatever, it's the money on chain. Yes, Now,

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<v Speaker 2>what are called the three the phase three of money?

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<v Speaker 2>Phase one paper based phase two, which is current electronic.

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<v Speaker 2>Then the phase three is money on chain, it's money

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<v Speaker 2>token the base why the three generations because the background

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<v Speaker 2>is different, technology is different. Now were having the uh,

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<v Speaker 2>we're entering to the age of this money on chin

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<v Speaker 2>based on the block chain. So once the money on chin,

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<v Speaker 2>you have two things. How to use money. Money is

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<v Speaker 2>about two usages. If I may say, one is to

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<v Speaker 2>buy something, another is to invest. Buy could be to

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<v Speaker 2>be to see to see its consumer spending, to be

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<v Speaker 2>a unreceivable or comparable any money you didn't spend, you

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<v Speaker 2>want to earn something, so you have to invest. So

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<v Speaker 2>in this regard ones the stable can money move on

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<v Speaker 2>chain and of course based on the whole infra there's

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<v Speaker 2>a chain wallet or the other things. Now how to

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<v Speaker 2>pay and how to invest is going to be fundamentally changed.

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<v Speaker 1>Oh absolutely, And it makes it almost a more global

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<v Speaker 1>market because you have twenty four to seven trading. Anyone

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<v Speaker 1>can access the asset because it's on chain. Right before,

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<v Speaker 1>for example, not everyone could access certain stocks on the

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<v Speaker 1>New York Stock Exchange. But with bitcoin and crypto acids

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<v Speaker 1>and stable coins, you could be in any part of

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<v Speaker 1>the world. So as you have Internet connection, you can

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<v Speaker 1>access it totally.

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<v Speaker 2>These kind of new features of benefits people start to

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<v Speaker 2>realize starting from the crypto native assets like BTC. Because

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<v Speaker 2>of crypto native there are nothing in the real world

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<v Speaker 2>but just an on chain. But then the people once

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<v Speaker 2>they like the see the values of the asset, but

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<v Speaker 2>also on the other side they see the value of efficiency, transparency,

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<v Speaker 2>self ownership. Then people start to think about it. BDC

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<v Speaker 2>is good as an asset, but on the other side,

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<v Speaker 2>the BDC is very good in terms of its features.

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<v Speaker 2>Then people naturally think and the debating here is can

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<v Speaker 2>we apply these good features enable make it enable other assets.

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<v Speaker 2>Now there's a name called the r W A, although

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<v Speaker 2>I don't think r W is a perfect name, but

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<v Speaker 2>just use it real assets basically the assets which is

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<v Speaker 2>not on chain, but we make the ownership or the

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<v Speaker 2>representation on chain called r W A token or digital

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<v Speaker 2>asset tokens. Then you can enjoy this kind of benefits

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<v Speaker 2>which native assets crypto assets already inherited. That's the moment

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<v Speaker 2>things on chain. Then coming to your point is like

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<v Speaker 2>twenty four seven etc. On the other side is if

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<v Speaker 2>I may adam just a couple more sentences, then the

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<v Speaker 2>people look at the current financial industry. Mainstream financial industry

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<v Speaker 2>use the best of the technology so far, but still

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<v Speaker 2>there's a lot of room to improve. The current financial

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<v Speaker 2>market is very local and the pretty manual in terms

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<v Speaker 2>of middle office and the back office, which the technology

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<v Speaker 2>hasn't been changed much in the past decades. The one,

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<v Speaker 2>as you mentioned, it is like a stock we're sitting in.

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<v Speaker 2>Your stock has changed, but this is US stock. If

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<v Speaker 2>you go to japan stock, you go to European stock,

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<v Speaker 2>you go to Asian stock. There are different separate markets

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<v Speaker 2>which they cannot be you buy here, set over there.

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<v Speaker 2>You okay, only buy here, set over there, And each

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<v Speaker 2>one has a very distinctive settlement procedure, some T plus two,

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<v Speaker 2>some T plus one, some maybe T plus x, very

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<v Speaker 2>very different, and you need to move the capital cross

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<v Speaker 2>the border. Then you add on another layer of complexity.

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<v Speaker 2>The result is your capital efficiency it's low. Your accessibility

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<v Speaker 2>even doesn't exist, then the efficiency will be low. Even

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<v Speaker 2>you can transfer around, so these kind of things. Thanks

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<v Speaker 2>for the technology. Using this token based Web three next

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<v Speaker 2>generation of Internet can be largely addressed.

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<v Speaker 1>Absolutely breaks down a lot of the walls and connects

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<v Speaker 1>more of these markets that were segregated before.

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<v Speaker 2>Indeed, totally that's going to be a non marginal change.

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<v Speaker 2>The change work can be very substantial, as you mentioned,

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<v Speaker 2>Tony said, currently is like a five days maybe eight

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<v Speaker 2>hours right then next step people can talk about twenty

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<v Speaker 2>four seven and the settlement and the clearing happened simultaneously,

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<v Speaker 2>and it can be in minutes, seconds or even many

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<v Speaker 2>seconds soon. So this is one step forward, yes, but

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<v Speaker 2>this is one step forward. Is almost reached to the ideal,

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<v Speaker 2>most ideal situation twenty four seven. What else you can

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<v Speaker 2>expect and the real time or near real time. So

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<v Speaker 2>this kind of innovation, I would say it is not

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<v Speaker 2>marginal innovation.

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<v Speaker 1>It's normal, absolutely, and I think I don't know if

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<v Speaker 1>it was this week we heard the New York Stock

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<v Speaker 1>Exchange they're looking to go twenty four to seven, you know,

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<v Speaker 1>the NASDAC. So eventually, like you said, you know, everybody's

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<v Speaker 1>going to be on the same playing field to get

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<v Speaker 1>real time settlement twenty four to seven trading.

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<v Speaker 2>Yeah, that one, I mean just encouraging me to say

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<v Speaker 2>two things right. One is the financial industry is never

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<v Speaker 2>slow in adopting new technologies. Look at the history when

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<v Speaker 2>a new technology come out telecommunication, PC, internet, mobile. Financial

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<v Speaker 2>industry never never be the slow guide to adopt it.

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<v Speaker 2>So this time just another new technology, so financial industry

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<v Speaker 2>will be a very active use of it. This number one.

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<v Speaker 2>Another thing is that when you mentioned like an ASTech

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<v Speaker 2>New York stock change coming in to do it is

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<v Speaker 2>institutional engagement. So the institution was start coming. Oh absolutely,

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<v Speaker 2>So that's never slow in the past. We're not slow

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<v Speaker 2>this time. And also big guys start to come in,

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<v Speaker 2>so this kind of change we can expect it will

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<v Speaker 2>be accelerated.

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<v Speaker 1>Oh absolutely. So took us about dgf T what is

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<v Speaker 1>what are the services you offer? The history and who

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<v Speaker 1>are you working with and things like that.

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<v Speaker 2>DGFT is a marketplace we called our next generation of

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<v Speaker 2>a marketplace. Why is that? Is a technology white? It

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<v Speaker 2>is a dex non constudient platform. What do we call

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<v Speaker 2>this open architecture means you can connect your own wallet

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<v Speaker 2>to the platform and once you get the assets, the

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<v Speaker 2>assets goes into your own wallet self custodiing. So this

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<v Speaker 2>kind of thing never happened before. We have this technoledge.

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<v Speaker 2>So far the lot of exchanges and marketplaces and the

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<v Speaker 2>financial institutions are almost one hundred percent centralized. You need

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<v Speaker 2>to depend on intermediate to do financial transactions, so decentralize

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<v Speaker 2>your self control. You have a minimum dependency on the

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<v Speaker 2>intermediates or even no intermediate, So that's efficiency. That's efficiency.

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<v Speaker 2>Number two. We deal with not only native crypto assets.

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<v Speaker 2>We deal with the beyond crypto assets. There's so many

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<v Speaker 2>assets of value fixing common stocks, equities, and real state commodities,

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<v Speaker 2>many others that are all of value. So there's a

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<v Speaker 2>huge room to be upgraded in terms of efficiency, liberty,

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<v Speaker 2>or disease knowledge. That's why we go beyond cryptocurrency, not

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<v Speaker 2>called other buy or security digital assets.

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<v Speaker 1>Token assets essentially, oh yeah.

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<v Speaker 2>Yeah, token azed assets. Number three is were licensed because

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<v Speaker 2>we're in the financial industry. We believe what we're doing

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<v Speaker 2>is the mainstream finance. Financial industry has its own feature.

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<v Speaker 2>It is heavily regulated industry in almost all jurisdictions. This

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<v Speaker 2>is not going to be going to change and publisher,

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<v Speaker 2>not change protection, blah blah, right, a lot of things.

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<v Speaker 2>So we were licensed. We're dealing with that. When licensing

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<v Speaker 2>is a key requirement hold the people accountable. That's why

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<v Speaker 2>you build a trust. So DGFT is a licensed decks

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<v Speaker 2>for digital assets, and we're very proud we are the

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<v Speaker 2>first way in the world be the license the decks

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<v Speaker 2>for digital assets.

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<v Speaker 1>It's incredible because you don't hear about deck is decentralized

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<v Speaker 1>exchanges for those whom no, But that's incredible. Uh, I

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<v Speaker 1>think you're the first I've heard that has a deck

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<v Speaker 1>setup to handle tokenized assets.

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<v Speaker 2>We indeed the first one licensed and the life in operations.

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<v Speaker 1>And I read that you're working with UBS and in Vesco,

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<v Speaker 1>those type of institutions.

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<v Speaker 2>Correct, since we are regulated and we are regulated by

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<v Speaker 2>Tier one jurisdiction. We're in Singapore starting Singapore, now in

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<v Speaker 2>Hong Kong and entering to other jurisdictions, so we are

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<v Speaker 2>regulated by tier one regulators and fully compliant. And on

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<v Speaker 2>the other side, the good asset managers, like when you

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<v Speaker 2>mentioned the UBS in Vesco, they also holding the same

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<v Speaker 2>view as as will be distributed on chain. They're looking

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<v Speaker 2>for partners. That's why we make ourselves and be the

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<v Speaker 2>partner be chosen by this kind of tier one asset managers.

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<v Speaker 2>We're very proud of it. So now we have but

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<v Speaker 2>we're working with UBS in Mesco, Wellington, DBS, develop Bank

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<v Speaker 2>of Singapore and with some other asse managers out of

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<v Speaker 2>Hong Kong our list. This list is getting longer and

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<v Speaker 2>we're very proud of it. And also this also in

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<v Speaker 2>our vision is more and more asset providers probably in

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<v Speaker 2>the future percent they will move the way on Chin

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<v Speaker 2>just like a move from paper to electronic. Yeah, Leytown

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<v Speaker 2>will be on Chen twenty five years ago online.

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<v Speaker 1>Oh absolutely, it's incredible the adoption that's happening, Henry. I

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<v Speaker 1>know Singapore has always been more for thinking and ahead

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<v Speaker 1>of the curve than the rest of the world with crypto.

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<v Speaker 1>Here in the United States, we're almost at the cusp

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<v Speaker 1>of getting crypto market structure. So are you seeing the

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<v Speaker 1>US opening up more where you're talking to institutions here.

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<v Speaker 2>Yeah, there isn't a couple regulators of jurisdictions are very

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<v Speaker 2>forward looking and taking action. Singapore, of course is the

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<v Speaker 2>one we appreciate. That's why we also uh talking to

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<v Speaker 2>the regulators in Singapore and also be endorsed by Singapore.

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<v Speaker 2>The giving license then US definitely is in terms of

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<v Speaker 2>size and the richness is never ware in the world

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<v Speaker 2>as a financial market. We also see in the US

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<v Speaker 2>market the regulators variously regulators which is not easy and

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<v Speaker 2>also legislations. But I'm also moving very fast. Yes, the

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<v Speaker 2>more in fast, and the trend is very clear. The

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<v Speaker 2>trend is to embrace this innovation. But of course there

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<v Speaker 2>are a lot of debate, a lot of check and

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<v Speaker 2>balance talking about how to embrace, what to embrace, and

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<v Speaker 2>how to embrace. That's very natural. But the trends are

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<v Speaker 2>very clear, including the stable coin. There money on chain

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<v Speaker 2>is also digital.

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<v Speaker 1>Right, Yeah, the stable coin adoption is surging after here

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<v Speaker 1>in the United States passed the Genius Act and a

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<v Speaker 1>lot of institutions like banks want to launch their own

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<v Speaker 1>stable coins.

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<v Speaker 2>Now incredible, Yeah, because I would say wise men think,

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<v Speaker 2>I like right, People quickly realize it's not difficult to

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<v Speaker 2>really to understand the benefit, right, especially once you try

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<v Speaker 2>it a little bit, Just like before people talk about

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<v Speaker 2>the internet. Then when they start to use internet, you

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<v Speaker 2>quickly realize the kind of unprecedented benefits. Repeat again here.

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<v Speaker 2>Then people see there's a room to improve. And back

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<v Speaker 2>to what we just said, is a financial industry never

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<v Speaker 2>slow in adopting new technologies. Oh?

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<v Speaker 1>Absolutely, So what's on your road map for this year?

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<v Speaker 1>What are your top priorities?

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<v Speaker 2>What do we have a lot of things to do

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<v Speaker 2>so sometimes just overly excited, but we need to prioritize.

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<v Speaker 2>So what do we focus on is a first of all,

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<v Speaker 2>we believe in this future open architecture based the UH,

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<v Speaker 2>the the financial infrastructure, new financial infrastructure. It is a

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<v Speaker 2>very open based you can call the DeFi. This is

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<v Speaker 2>our focus, so we're very focused on that. Number two

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<v Speaker 2>will very focus on the capital markets. We are not

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<v Speaker 2>payment company. When not focused on payment, payments will work

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<v Speaker 2>closely with payments, but we focus on the capital markets

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<v Speaker 2>digital assets because money, how to pay, how to earn.

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<v Speaker 2>Once you use the money to pay, you will immediately

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<v Speaker 2>ask how do I invest? I want the assets being

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<v Speaker 2>token That's the direction and of course we are core values.

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<v Speaker 2>We're building this platform for the asset providers the name

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<v Speaker 2>like UBS, Invesco and others. We building this platform for

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<v Speaker 2>the investors who are investing in this valuable assets in

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<v Speaker 2>the token way, enjoy the quality of the assets and

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<v Speaker 2>enjoyed efficiency of the way. And number three, which is

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<v Speaker 2>unique for essay in tokens, we work for the builders

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<v Speaker 2>just like you buy money market funds in tokens instead

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<v Speaker 2>of as a replacement for deposit, what else can you

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<v Speaker 2>do with it, Yes, more easy to be collaturalized or

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<v Speaker 2>be for the lending, borrow money, cross border type of thing.

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<v Speaker 2>So that's we called the generally recorder for the builders.

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<v Speaker 2>So it's for the for the asset providers, for the investors,

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<v Speaker 2>and for the builders.

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<v Speaker 1>Yeah, you're able to open up new use cases and

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<v Speaker 1>utility put put the assets to work in different ways.

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<v Speaker 2>Right, that's correct. Then we did we implement something last year.

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<v Speaker 2>We'll continue to do it. We see the benefit, we

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<v Speaker 2>see the market's demand. For example, we make the ubs

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<v Speaker 2>IS money market fund. Ubs is a very reputable as

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<v Speaker 2>a manager for money market funds, stable, good liquidity, decent written.

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<v Speaker 2>We build an use case that we walk with a

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<v Speaker 2>centralized exchange crypto exchange like a bybit cook coin. They

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<v Speaker 2>take ub as money market as collateral.

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<v Speaker 1>Oh wow.

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<v Speaker 2>Then from the trader user perspective, they can enjoy boths.

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<v Speaker 2>They can enjoy the efficiency in the in the in

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<v Speaker 2>the token way. They can also enjoy the reliable and

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<v Speaker 2>a sustainable yield from the collective assets. So it's enjoy

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<v Speaker 2>on both sides. That's one of the typical case of

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<v Speaker 2>building applications. Many can be due and a lot of

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<v Speaker 2>peers in the industry also doing the same thing. We're

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<v Speaker 2>very excited about it.

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<v Speaker 1>It's an exciting time, Henry. I'm really looking forward to

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<v Speaker 1>seeing future updates on digit f T. Thank you so

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<v Speaker 1>much for taking the time to chat.

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<v Speaker 2>Thank you very much. Thank you for having me.

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<v Speaker 1>This episode is brought to you by v Chanin. V

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<v Speaker 1>Chain is one of the top layer one enterprise blockchains

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<v Speaker 1>in the crypto asset class, and they are getting adopted

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<v Speaker 1>by many big brands and companies around the world who

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<v Speaker 1>are building Web three and decentralized application technologies. I've been

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<v Speaker 1>a VET token holder for many years. In fact, I

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00:20:09.640 --> 00:20:13.160
<v Speaker 1>started investing in v chain back in twenty eighteen, and

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<v Speaker 1>some of the key features of the v chain blockchain

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<v Speaker 1>includes its secure, affordable, scalable, fast, and sustainable. Some of

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<v Speaker 1>the companies and brands working with vchain include Jivon, Chi, Walmart, China, BMW,

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<v Speaker 1>Boston Consulting Group, and many more. Most recently, they partnered

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<v Speaker 1>with Dana White in the UFC, and Dana White even

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<v Speaker 1>said recently that he purchased over a million dollars of

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00:20:36.319 --> 00:20:40.079
<v Speaker 1>the VET token, and vchain also recently launched staking where

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<v Speaker 1>you can stake the VET token and earn great rewards,

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00:20:43.440 --> 00:20:45.440
<v Speaker 1>so if you'd like to learn more about vchain, go

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00:20:45.480 --> 00:20:48.279
<v Speaker 1>to vchain dot org. Link will be in the description.

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<v Speaker 1>Thank you so much for tuning in. Please hit the

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<v Speaker 1>like button subscribe if you haven't as yet. If you're

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<v Speaker 1>listening on a podcast platform such as Spotify or Apple,

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<v Speaker 1>please follow and leave a five star rating. Thank you

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<v Speaker 1>so much,