Nasdaq-listed company Northern Trust partners with NUS Computing and NUS AIDF have established a dedicated group to drive blockchain technology development for institutional investors.
Key Points
- Nasdaq-listed company Northern Trust teams up with NUS Computing and NUS AIDF for blockchain technology development.
- Northern Trust establishes Digital Assets and Financial Markets group to support digital asset and securities services markets.
- Joint research project focuses on custody of digital assets and real-time visibility across markets.
- Collaboration includes mentoring of RegTech start-up and industry-linked internship for Master of Digital Fintech student.
Nasdaq listed company, Northern Trust (NTRS), has joined forces with the National University of Singapore’s School of Computing (NUS Computing) and the Asian Institute of Digital Finance (NUS AIDF) to drive the development of blockchain technology for institutional investors.
Northern Trust Establishes Digital Assets and Financial Markets Group
On June 23, 2022, Northern Trust created a new group called the Digital Assets and Financial Markets group. This group, led by Justin Chapman, aims to support the growing digital asset markets and traditional securities services markets. With offices in 25 U.S. states and across multiple locations worldwide, Northern Trust has a global presence.
As of March 31, 2023, Northern Trust managed assets worth US$14.2 trillion and had assets under management of US$1.3 trillion. Their extensive experience and expertise make them an ideal partner for the development of blockchain technology.
Joint Research Project on Custody of Digital Assets
The collaboration includes a joint research project titled “Custody in the age of digital assets.” This project focuses on exploring methods for maintaining control and possession of digital assets on third-party blockchains. Additionally, it investigates strategies for clients to achieve real-time visibility of their assets across digital and traditional markets. The research forms part of the Singapore Blockchain Innovation Programme (SBIP), a national-level initiative anchored at NUS Computing.
Northern Trust has signed a Memorandum of Understanding (MoU) with NUS AIDF, demonstrating its commitment to fostering the Fintech ecosystem in Singapore. As part of this commitment, Northern Trust is mentoring Insightic, a RegTech start-up incubated at AIDF. The mentoring focuses on risk assessment for Web 3.0-based virtual asset service providers, utilizing Northern Trust’s blockchain expertise to refine their product-market fit and go-to-market strategies. Earlier in 2022, NUS AIDF also established a “Blockchain Security Alliance”
On September 24, Beosin established “Blockchain Security Alliance” in Singapore together with SUSS NiFT, NUS AIDF, Singapore Blockchain Association, FOMO Pay, Coinhako, Onchain Custodian, Paritybit and Semisand. pic.twitter.com/nrynNEIbEt
— Beosin 🛡 Blockchain Security (@Beosin_com) September 25, 2022
Northern Trust and NUS Computing have also agreed to offer an industry-linked internship to a student in the Master of Digital Fintech program. This five-month internship will expose the student to the critical market advocacy and digital development work led by Northern Trust in the Asia-Pacific region. It provides a valuable learning opportunity for the student to gain practical experience in the industry.
End Notes
Justin Chapman, Global Head of Digital Assets and Financial Markets at Northern Trust, considers the partnership with NUS as a significant step in their strategy to provide thought leadership and develop future leaders who will shape the industry. Northern Trust’s Digital Assets and Financial Markets group is dedicated to helping clients navigate the evolving digital markets and the challenges of investing in digital assets alongside traditional asset classes.
In conclusion, the collaboration between Northern Trust, NUS Computing, and NUS AIDF represents a milestone in the development of blockchain technology for institutional investors. With their joint research project, mentoring initiatives, and internship opportunities, they aim to shape the future of blockchain and contribute to the growth of the FinTech ecosystem in Singapore and beyond.
