Project awarded the Financial Sector Technology & Innovation (FSTI) Proof of Concept Grant by MAS

CORRECTION by Hashstacs

- The 6th paragraph in the previous version has been deleted

- The sub headline and the designation of the EFG Bank have beenchanged

The corrected release reads:

SINGAPORE / HONG KONG, CHINA - Media OutReach - 19 October2020 - Hashstacs Pte Ltd (also known as"STACS"), a Singapore FinTech company focusing on Blockchain technology solutionsfor financial institutions, announced its partnership with EFG Bank ("EFG")to co-develop a Blockchain platform that will enhance and simplify theprocesses of structured products.

"Project Nathan -- SmartStructured Products", a collaboration between STACS and EFG, aims at using newDistributed Ledger Technology (DLT) to automate and manage the entire lifecycleof a structured product. The Nathan platform comprises the underlying STACSBlockchain and smart contracts, and a business application with an intuitiveuser interface.

The Nathan platform wasawarded the Monetary Authority of Singapore ("MAS")'s Financial Sector Technology andInnovation (FSTI) Proof of Concept (POC) grant on 2 March 2020. The FSTI POCgrant provides funding support for experimentation, development anddissemination of nascent innovative technologies in the financial servicessector.

Project Nathan achievedmany milestones through close collaboration work between STACS and EFG. It iscurrently in its first phase, where STACS worked with EFG to remodel theworkflows involved in a structured product transaction, facilitated theinternal efficiencies between various EFG departments involved in structuredproduct transactions, as well as looked at the usage of smart contracts toautomate aspects of trade inception and trade servicing.

Mr Benjamin Soh, Managing Director of STACS, said: "Tapping on thesuccess of Phase 1 of Project Nathan, we are now able to proceed with furtherphases of commercialisation for the Nathan Platform, and look towards furtherrollout of our digitalisation initiatives towards the wider industry."

Mr Ivan Ferraroni, Head of Global Markets Asia of EFG said,"Participating in this MAS funded initiative was an exciting experience forEFG and our team members.  This is inline with our efforts to change the speed and scope of digitalisation in ourbusiness. Working with STACS has been very smooth and seamless, and wecertainly managed to learn from each other. The project is innovative,demonstrates significant efficiency gains and can be extended to other assetclasses in the future."

Codeveloping Blockchain Use cases with market participants

With recent trends of blockchain adoption in the capital markets, STACSserves as a complete solutions partner. By co-developing a Blockchain projectwith EFG, STACS has provided a model for market participants, providing them asolution for industry pain-points highlighted by the participants. STACS alsoprovides a full suite of platforms covering different services in various live projectswith multiple stock exchanges and commercial banks in both the EU and Asia.

"Project Nathan demonstrates the commitment of STACS as aninnovative fintech development company to help financial institutions like EFGBank to embrace digitalisation and seek new opportunities.  This is an exciting time in the FinTech worldas we see a growing number of institutions looking at Blockchain, and EFG hastaken the lead to adopt this innovative approach to structured products.Adoption of new technologies by financial institutions will enable them to reapthe benefits of reducing costs and improve efficiencies," added Mr Benjamin Soh.

About STACS

Hashstacs Pte Ltdor "STACS" is a Singapore fintech development company providing ready platformsthat make global markets simpler for financial institutions. STACS is leadingthe way forward by digitalizing assets, processes and documents using nextgeneration blockchain-based technology. Its clients and partners includeinvestment banks, stock exchanges, custodian banks, asset managers and privatebanks. STACS is a recipient of the MAS FSTI POC grant, and a technologyparticipant of the MAS Project Ubin.

About EFG

EFG International is a global private banking group offeringprivate banking and asset management services and is headquartered in Zurich.EFG International's group of private banking businesses operates in around 40locations worldwide. Its registered shares (EFGN) are listed on the SIX SwissExchange.