Ubisoft, IBM and Citibank have partnered with Tribe Accelerator, a blockchain accelerator backed by the Singaporean government. The companies joined for the second round of its four-month program, according to a report by the Straits Times yesterday.
The Singaporean blockchain accelerator connects early-stage blockchain start-ups with leading corporations. IBM, Citibank and Ubisoft join the ranks of companies already on board including BMW Group Asia, Intel, and PwC.
The first iteration of the program saw companies raise $12.1 million in three months. The second cohort, according to the report, will include companies from media, advertising, healthcare, cybersecurity, fintech and supply-chain management.
Start-ups include Torus, a digital identity and password management company backed by Binance; AID:Tech, an Irish company that delivers remittances and aid using blockchain technology; and Aquilliz, a platform whereby companies can manage customer loyalty initiatives.
According to a report by PwC this September, Asia’s crypto scene is booming. On the other hand, the US struggled to find its feet.
The first quarter of 2019 the number of crypto deals made in the US, decreased from 60% to 41% compared to the same time in 2018.
By comparison, the number of crypto deals forged in Asia increased from 15% in 2018 to 22% in 2019.