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

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SINGAPORE / HONG KONG, CHINA -�Media OutReach�- 14 October
2020 - Hashstacs Pte Ltd (also known as "STACS"), a Singapore FinTech company focusing
on Blockchain technology solutions, announced its partnership with EFG Bank ("EFG")
to co-develop a Blockchain platform that will enhance and simplify the
processes of structured products.

"Project Nathan -- Smart Structured Products", a collaboration between
STACS and EFG, aims at using new Distributed Ledger Technology (DLT) to
automate and manage the entire lifecycle of a structured product. The Nathan
platform comprises the underlying STACS Blockchain and smart contracts, and a
business application with an intuitive user interface.

The Nathan platform was
awarded the Monetary Authority of Singapore ("MAS")'s Financial Sector Technology and
Innovation (FSTI) Proof of Concept (POC) grant on 2 March 2020. The FSTI POC
grant provides funding support for experimentation, development and dissemination
of nascent innovative technologies in the financial services sector.

Project Nathan achieved
many milestones through close collaboration work between STACS and EFG. It is
currently in its first phase, where STACS worked with EFG to remodel the
workflows involved in a structured product transaction, facilitated the
internal efficiencies between various EFG departments involved in structured
product transactions, as well as looked at the usage of smart contracts to
automate aspects of trade inception and trade servicing.

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

Workflow processes
that are heavily manual today, such as the reconciliation of structured product
trades and fixings, are now enhanced and simplified on the Nathan platform. EFG
has reported a significant reduction in manhours and operational risks, and an
increase in efficiency of more than 50%. Overall, the Nathan Platform has
allowed the bank the ability to increase servicing capacity by close to 300%. Starting
with FX Accumulators, the solution will be scaled up to include other types of
structured products in future.

Mr Ivan Ferraroni, Managing Director of EFG Bank, Hong Kong said,
"Participating in this MAS funded initiative was an exciting experience for
EFG and our team members.� This is in
line with our efforts to change the speed and scope of digitalisation in our
business. Working with STACS has been very smooth and seamless, and we
certainly managed to learn from each other. The project is innovative,
demonstrates significant efficiency gains and can be extended to other asset
classes in the future."

Codeveloping Blockchain Use cases with market participants

With recent trends of blockchain adoption in the capital markets, STACS
serves as a complete solutions partner. By co-developing a Blockchain project
with EFG, STACS has provided a model for market

participants, providing them a solution for industry pain-points highlighted
by the participants. STACS also provides a full suite of platforms covering different
services in various live projects with multiple stock exchanges and commercial
banks in both the EU and Asia.

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

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About STACS

Hashstacs Pte Ltd
or "STACS" is a Singapore fintech development company providing ready platforms
that make global markets simpler for financial institutions. STACS is leading
the way forward by digitalizing assets, processes and documents using next
generation blockchain-based technology. Its clients and partners include
investment banks, stock exchanges, custodian banks, asset managers and private
banks. STACS is a recipient of the MAS FSTI POC grant, and a technology
participant of the MAS Project Ubin.

About EFG Bank

EFG Bank is one of the largest Swiss private banks with strong roots
in the home market and a global presence. EFG represents security and solidity,
an entrepreneurial way of thinking and acting, and a powerful blend of agility
and reliability. EFG's motto is: "Entrepreneurial thinking. Private banking".