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Blockchain Association Singapore and Elliptic to roll out a Digital Asset Compliance Certification

Source: Blockchain Association Singapore

Global FinTech Institute (GFI), Singapore- based global professional credentialing body for FinTech professionals, Blockchain Association Singapore (BAS), the leading industry association for Digital Asset and Enterprise Blockchain, and Elliptic Singapore Private Limited (Elliptic), a leading provider of Digital Asset Risk Management Solutions for Digital Asset businesses and financial institutions, today announced it has inked a Memorandum of Understanding to roll out a Digital Asset Compliance Certification at a virtual event earlier today.

It will be the first Digital Asset Compliance training program available in Singapore for financial institutions, digital asset businesses, and law enforcement.

The virtual event, organized by GFI and BAS, was subsequently followed by a webinar on the Future of Work in Blockchain. Panelists included Patrick Tay, Assistant Secretary-General, National Trades Union Congress (NTUC) and Executive Secretary, Banking and Financial Services Union (BFSU); Tim Chapman, Vice President of Sales, Elliptic; Chia Hock Lai, Co-chairman of BAS and Professor David Lee, Chairman at Global FinTech Institute.

Speaking on the collaboration, Patrick Tay, Assistant Secretary-General, NTUC and Executive Secretary, BFSU, said, “In the next normal, some jobs may no longer exist, some jobs will be transformed, and new jobs are being created. The challenge remains for workers to be able to transit into these new and transformed jobs and acquire the new and in-demand skills. We are happy to see our BFSU partner BAS working with Global FinTech Institute and Elliptic Singapore to introduce training that would enable workers (especially the PMEs) to segue into these new opportunities created. We look forward to partnering with them to bring this program to our workers.”

Tim Chapman, Vice President of Sales, Elliptic said, "Elliptic is very honored to be participating in the growth of the digital assets industry in Singapore. We are proud to work with BAS and GFI to support members of the workforce in acquiring new knowledge about the fast-growing digital assets industry, and equipping them with skills for their career development."

“BAS is proud to work with GFI and Elliptic in bringing the Digital Assets Compliance Training Program to market as we are seeing tremendous growth and institutional interest in the digital assets industry," commented Chia Hock Lai, Co-chairman of BAS.

"As the digital assets industry advances with increasing participation by institutions, the need for specialist digital assets compliance expertise is becoming increasingly urgent,” said Professor David Lee, Chairman at Global FinTech Institute. He added, “We are confident that a collaborative approach between academia and industry is the only effective way to develop competent compliance professionals in this growing field.”

The Digital Asset Compliance training program will be launched in 2021 with a comprehensive curriculum and certification that will include topics such as:
• Fundamentals of Digital Assets
• Privacy and Anonymity Enhancement Technologies
• Blockchain Analytics
• Illicit Typologies
• Terrorist Financing
• Cybersecurity and Hacking
• Regulatory Environment
• Sanctions
• Emerging Digital Assets Developments

The Fiat and Digital Assets Economies are converging when it comes to the practice of compliance. Both financial institutions and digital asset businesses have a responsibility to exercise the same duty of care to be Anti Money Laundering (AML) compliant for digital assets. This Digital Asset Compliance Certification opens up new opportunities for compliance professionals to grow their AML and financial crime skills with certified digital asset compliance knowledge.

The program fills an educational gap in the market for a high-quality digital asset certification that is comprehensive, accessible, and supported by relevant and contextual evidence-based case studies from Elliptic’s Blockchain Analytics research and real-world cases. In a digital-first world, learners can access the course through an online learning platform that includes digital textbooks, examinations, and learning content that is secured to meet the strict security controls of banks.

GFI, BAS, and Elliptic will make a further announcement on the course launch date in May 2021.

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