SINGAPORE / KUALA LUMPUR, MALAYSIA - Media OutReach - 30 July 2020 - Singapore's Fintech technology provider, Hashstacs PteLtd ("STACS"), today announcedthat it has partnered with Bursa Malaysia Berhad ("Bursa Malaysia") on aBlockchain Proof-of-Concept ("POC") project dubbed "Project Harbour" for itsBonds marketplace.

Project Harbour is centred around the usage ofDistributed Ledger Technology (" DLT") as a register in facilitating  the growth of Labuan's bond marketplace. Theproject will take place in Malaysia's offshore market, Labuan, in collaborationwith the Labuan Financial Exchange (LFX), a wholly-owned subsidiary of BursaMalaysia.

Mr Benjamin Soh, ManagingDirector of Hashstacs Pte Ltd, said: "Hashstacs will develop a blockchainsolution to issue, service, trade and clear bonds on the platform. The creationof an industry wide ecosystem will allow for a complete solution inorigination, servicing, trading, clearing and settlement, allowing Malaysia to potentiallyhave the first mover advantage in attracting regional and international bondlistings."

Bursa Malaysia, alongside theSecurities Commission of Malaysia, Labuan Financial Services Authority, CIMBInvestment Bank Berhad, Maybank Investment Bank Berhad and China ConstructionBank Corporation Labuan Branch, will utilise the Trident Platform built byHashstacs to test and manage the end to end trade lifecycle management ofdigital bonds. The blockchain based platform will facilitate issuances ofdigital bonds seamlessly, while providing a single source of truth to maintainthe integrity of investors' holdings and track transactions. In addition, smartcontract technology automates the movement of funds and securities, amplifyingasset servicing and the provision of liquidity to market participants.

Datuk Muhamad Umar Swift,Chief Executive Officer of Bursa Malaysia, said: "The Exchange closely followscurrent trends in innovation and new technologies with a view to remainingrelevant in this competitive landscape. One of the ways to achieve this isthrough collaborations with innovative companies. The POC conducted inpartnership with Hashstacs presents an opportunity to provide a valuablelearning experience to build knowledge and obtain insights that will allow usto grow the bond marketplace. The POC aims to increase operational efficiency,driving down the cost of operations as well as the cost of issuing bonds.  We will continue to tap into emergingtechnological innovations to further develop the marketplace and improve theeffectiveness and accessibility of the Exchange"

Project Harbour is aimed at exploringand harnessing the opportunities enabled by blockchain and tokenisation ofassets. The creation of a blockchain powered infrastructure will provide asingle source of information that is kept in a shared distributed databasebetween Bursa Malaysia and participating banks, providing a registry ofownership and reducing counterparty risks and reconciliation costs.

"Hashstacs hasestablished a good track record in the capital markets blockchain space overthe past year. The Trident Platform, powered by the STACS Blockchain andSettlity Infrastructure, is an enterprise grade, end-to-end blockchain solutiondesigned for capital markets requirements. We are delighted to have anestablished institution of Bursa Malaysia's standing use our SettlityInfrastructure and STACS Blockchain, which is a testament to our state ofhaving production-ready solutions." added Mr Soh.

About Bursa Malaysia

BursaMalaysia is an exchange holding company incorporated in 1976 and listed in2005, and is the national stock exchange of Malaysia. One of the largestbourses in ASEAN, Bursa Malaysia helps over 900 companies raise capital across50 economic activities -- whether through the Main Market for establishedlarge-cap companies, the ACE Market for emerging companies of all sizes, or theLEAP Market for up-and-coming SME companies.

About Hashstacs Pte Ltd

Hashstacs is a Singaporefintech development firm focusing on the digital transformation of thefinancial industry. Its vision is to be the underlying Distributed LedgerTechnology on which Financial Market Infrastructure is built upon. For moreinformation, visit https://stacs.io/

The Settlity Infrastructureis a next generation blockchain Infrastructure-As-A-Service platform thatallows financial institutions to manage and trade digital financial assetssimply. The Settlity Infrastructure is powered by the Securities Trading AssetClearing and Settlement (STACS) Blockchain, a blockchain built specifically forthe capital markets. For more information, visit https://settlity.com/