On November 7, 2019, the School of Computing at the National University of Singapore (NUS Computing) and blockchain payments firm Ripple partnered to establish the NUS FinTech Lab.
The aim of the lab, related to Ripple’s University Blockchain Research Initiative (UBRI), is to train talent and develop the Singapore financial and technological sector. The joint project is expected to bring together academia and industry to develop talent in the blockchain sector.
According to the report, the NUS FinTech Lab will be led by a Singapore-based fintech liaison group made up of key members of various business and financial institutions, government parastatals, as well as faculty members of NUS Computing.
Eric van Miltenburg, SVP of Operations at Ripple, explained:
“The launch of the NUS FinTech Lab is a significant step toward recognising the full potential of blockchain technology in finance and the real-world benefits of collaboration between academia and industry.”
He added that most importantly, the FinTech Lab will prepare students for the career opportunities brought about by continued technological advancements in finance.
Since joining UBRI, NUS Computing has worked to advance education, technical development and innovation in digital transformation, data-driven decision making, and fintech.
More Details About the Academia-Industry Collaboration
NUS FinTech Lab is part of Ripple’s $50 million initiative to bring an Academia-Industry collaboration that supports academic research, technical development and innovation in blockchain, cryptocurrency and digital payments.
Ripple is currently working with six universities in Asia, including NUS, under UBRI.
The partnership with NUS will create a neutral space for dialogue and innovation that connects academia and industry, translating education into practice and generating tangible results.
The initiative will reportedly expose 1,000 students and industry professionals to fintech within one year through courses and programs open to NUS faculty and students.
Ripple Now Boosts Over 300 Customers
Today, in another announcement, Ripple reported that its blockchain enterprise solution, RippleNet, has now exceeded more than 300 customers.
A crucial part of this success is due to ODL (On-Demand Liquidity), a real bridge for the use of the digital asset XRP, which makes removing the pre-funding for cross-border payments possible.
Ripple is now the fastest payment method in terms of growth, according to Viamericas CEO Paul Dwyer. He stated:
“As one of the fastest-growing money transmitters in the world, we understand the current challenges of sending money globally and look for operational efficiencies to make the process easier and more affordable for the people we serve.”
It’s worth noting that Ripple’s blockchain solutions have seen a significant increase in adoption in recent times. On November 5, 2019, Vietnam’s Tien Phong Commercial Bank (TPBank) joined RippleNet, in a bid to tap blockchain technology for cross-border payments.