Singapore State Investment Company Temasek Holdings Pte has invested in blockchain enterprise software companies and the global banking consortium R3, according to a Bloomberg report on 22 November.
Temasek is an investment company owned by the government of Singapore, which has declared that its portfolio focused on Asia will have a value of about $ 308 billion ($ 235 billion) as of spring 2018.
Bloomberg today cites an "internal memorandum", the content of which has been confirmed by a Temasek spokesperson, which illuminates the company's broad investment strategy from October 2018. It indicates that Temasek is responding to a changing global investment landscape focusing on bleeding – marginal technologies such as blockchain and artificial intelligence (AI).
This strategy involves the creation of "experimental pods", created with the specific aim of focusing on investments in blockchain and AI technologies, two areas that the company considers to be "long-term" trends aimed at affecting more industries at a global level. .
In particular, the note reveals that Temasek was one of over forty institutions that invested in R3 as part of a collective $ 107 million series A fundraising last May, which at the time was called "the most great "distributed accounting technology (DLT)) investment to date.
Temasek spokesman told Bloomberg in a private correspondence that the company focuses on "staying agile and well positioned to seize opportunities that offer sustainable long-term value".
Alongside its investment in R3, of which the exact sum was not disclosed, Temasek also participated in a $ 600 million C Series round of financing in April for SenseTime, a Chinese AI startup.
As reported yesterday, South Korea's largest Internet conglomerate Kakao Corp has just established a branch in Singapore to attract foreign investment with cryptocurrencies.
In other cryptographic and national blockchain news, Singapore's central bank has announced that it is expanding its regulatory regime for payment service providers to bring some cryptocurrencies under its jurisdiction, with new legislation coming into force by the end of 2019.
As reported recently, R3 is involved as a DLT solutions consultant for the post-trade infrastructure giant Depository Trust & Clearing Corporation (DTCC), which has replaced its DLT-based Trade Information Warehouse. The Trade Information Warehouse provides event processing services for approximately 98 percent of all credit derivative transactions globally and the project entered its testing phase on 6 November.