In a bid to accelerate the regional adoption of Web3 technology, MetaWorld (1MW), a member of ONERHT, has joined forces with EQBR, a leading Korean Web3 technology firm, to establish a strategic joint venture (JV). The epicenter of this collaborative endeavor will be Singapore.
The signing ceremony for this momentous partnership witnessed the presence of Mr. Lee Jung Geun, Chairman of EQBR Group, and Mr. Tan Chong Huat, Chairman of RHT AlDigi Financial Holdings. Signing the agreement on behalf of the JV were Mr. Cheong Seongkoo, CEO of EQBR Networks Pte. Ltd., and Mr. Lee Seck Hwee, CFO of 1Metaworld Pte. Ltd.
ONERHT, through its investments and development of Recognised Market Operator SDAX (a digital asset exchange) and ACX (a global digital carbon exchange), has consistently demonstrated its commitment to advancing the digital economy. This aligns with the Monetary Authority of Singapore’s Project Guardian, which aims to uphold and advance best practices and technical standards for Singapore’s financial system.
The core focus of this JV will revolve around tangible and operational Web3 business opportunities, encompassing the following key areas:
Tokenization of Real-world Assets: This includes assets from the maritime sector, real estate, and art. The goal is to provide liquidity, fractional ownership, and global market access.
Securitized Token Offerings: The JV intends to explore fundraising through compliant token offerings, which offer the potential for a broader investor base, reduced intermediaries, and real-time settlement.
Web3 Payment Solutions: The venture will develop on-ramp and off-ramp payment solutions that facilitate cross-border multi-currency transactions, potentially enabling worldwide financial access and licensing to handle Central Bank Digital Currency (CBDC) for tokenized transactions.
Close Collaboration: 1MW will collaborate closely with AlDigi Technologies and the EQBR technology team in the development of the aforementioned solutions.
Mr. Chen Jiejing, CEO of 1MW, emphasized the significance of Web3 in the future and acknowledged the complexity of transitioning from Web2 to Web3. He highlighted the JV’s role in providing ready technology and expertise to facilitate this transition, noting that the venture is already applying its solutions for regulated Securitised Token Offerings.
EQBR brings its proprietary technology, Equilibrium, to the partnership, which powers its no-code Web3 infrastructure platform, EQ Hub. EQBR’s extensive experience in enterprise blockchain technology, with over 1.5 million user downloads for its Whisper MSG, positions the firm as a leader in the field.
Supported by ONERHT, an integrated multidisciplinary platform of professional and specialist services, 1MW is driving Web3 innovation across three pillars: digital finance, the digital lifestyle creator economy, and Web3 commerce. This JV underscores ONERHT’s ongoing commitment to Web3 innovation and leverages its expertise in finance, legal, and corporate governance matters to bolster the growth of the JV as a trusted Web3 platform.
Mr. Cheong Seongkoo, CEO of EQBR Networks, expressed confidence in Singapore’s role as a leader in the global Web3 revolution, particularly following the Monetary Authority of Singapore’s revision of its stablecoin regulatory framework. He highlighted their first-mover advantage in Singapore, backed by their established experience in the region.
1MW envisions a push toward a decentralized regional peer-to-peer (P2P) economy and aims to align this vision with existing regulatory frameworks. Singapore, with its rapidly accelerating adoption of Web3 innovation, emerges as the ideal launchpad for this JV with regional aspirations.
