What Winter? The Spring of Crypto Payment Has Arrived! - TOKEN2049 Singapore 2022

hey good morning everybody um and thank you for coming over here so early in the morning waking up at this point in time just to attend this talk in the morning with us um again thank you for the introduction I'm Al CEO of digital treasure Center and short DTC um we are a Singapore based crypto banking service and payments company right that's what we are so let's hop right in today's topic with me it's really about what winter and the spring of crypto payment I'm going to carry in a bit I'm not here to debate that the winter has arrived I'm here to ask the question what kind of winter is it going to be for you so let's take a look at some facts right since mid-may April we've seen the Terra Luna crash USD issue and central banks have been raising rates you know across the globe that has caused the whole market for cryptocurrency to go into a bearish mode and clearly we're entering a prolonged period of muted interest and you're clearly looking at a winter setting in right Bitcoin prices are already down year to date 59 so nothing debatable about winter being here and you have seen the news media pointing out all this scammonger type of news right the crypto winter is here it's going to last for a very long time it's not like the previous winter that kind of news have been out there right but really what do you think of it is the question now let me put another perspective to this for you to think about the news out there if you think about recently when central banks raise rates Tesla share price went down does it actually mean that Tesla as a company is not doing well does it mean that the Tesla cars you're having are blowing up not really it's really just a market reaction an investor sentiment towards a company which is Tech focus and being affected by interest rate Heights right that's really it so at the end of the day if you take away the noise look at the fundamental that's what we're talking about so maybe for some of you here pretty new to crypto it might be your first winter but not for me right this is the one I'm saying major one right you might debate but this is the third major one that I'm seeing I've been an investment banker for about eight years um starting 2010 and in 2014 um 2015 I started mining ethereum that was my background before I entered um into the crypto space really uh founding uh co-founding Singapore's first Pure Play custody for digital asset which is launching custodian um back in 2018 2019 really the Australian institutional wealth going forward I realized a lot of people made money in cryptocurrency and then that's when we co-founded in the company which is DTC really to help people serve their crypto wealth needs in Singapore and globally right so this is really the third winter that I'm actually seeing not the first but the question comes me back to the topic today is what kind of winter are we talking about I really think out of the windows I've seen is the best time to settle down look at what's going on the fundamentals again and build great products right that's really what we should be doing so let me give you some insights to what I'm seeing in terms of Trends around the global um regionally the first thing to notice really there is a rise of crypto wealth you know from affluent to high net worth a recent CNBC surveyed studies show clearly that 83 percent of millennial millionaires are invested in cryptocurrency or as part of a portfolio in cryptocurrency and they plan to add more right that's the first thing the second thing is really sometime in April there was another study that said there was over 80k identified wallets with over 1 million in Bitcoin right and that's five for what we had two years ago which was fifteen thousand so there's a clear Trend Rising crypto wealth now the second thing it's more um of today being in Singapore let's talk about that there's actually a net inflow of affluent individuals coming into Singapore we're expecting 2 800 of them this year just in 2022 right and that's why Singapore is actually ranked number three worldwide for attracting reach and Wealthy just behind Australia and Dubai right and based on Hanley and partner statistics right and the outflow from other countries mainly um attributes to China having about 10K expected this year and these people each of them or the family has about 4.8 million dollars worth of wealth so what we're looking at if you do some simple math we're looking at 2800 times 4.8 million that's about 14 billion dollars worth of money that you can handle or deal with and then if you think of being this wealthy individual when they come overseas or go somewhere else what do they actually need right essentially these are the primary needs in their life right being able to collect the salaries make payment have a property have a car lifestyle FNB expenses and then they go on to do investment investment in business business needs and of course at the end of the day being able to transfer funds and make payments right it all sounds easy to a lot of people over here because you have banking service but truly if you think about yourself as a crypto wealth this is what people face with they face a lack of acceptance or Merchant right if you want to test this just go down anywhere in Marina Bay Sands you'll not be able to pay crypto anywhere the second thing you're going to face is that people think about tedious way of going through exchanges to convert into Fiat money and send that to the bank trust me do it a few more times in places like Singapore regionally the bank's going to send you a ladder which is closure of count and then you're going to ask you to collect a check we've seen that a lot in our friends in our Circle and trust me this happens a lot so it's really a bad experience for crypto wealth in this region the last one is clearly based on the first two point nobody's providing you any customized service right any money money management service at all so these are the gaps in the market and prior to this I've shown you some Trends Rising crypto wealth affluent comes into Singapore and the region so you clearly have seen the trend the Gap and you see the opportunities now if you do then perhaps it's something we can work on together because this essentially it's what DTC as a company provides for affluent wealth and individuals on the right hand side clearly it's our clients will end an affluent individual client we provide them the wallet service to be able to top them up using cryptocurrency convert that with the ease into Fiat money which they can use to pay their bills which they can use it to make investment transfer to other people or simply work with our merchants and pay for goods and services now the flip side on the left hand side we've got our Merchant that has signed up with us they are able both online and in store to accept crypto payment on top of that we provide them traditional payment routes for example card acceptance QR code so they can accept in any forms they want but at the end of the day we just settle Sing dollar or US dollar or other fiat currency to them so with that money again they can easily make payment to their suppliers pay salary and transfer funds so let me take a pause here and if you are in this room as a crypto company one of the needs that we actually saw for you is actually the ability to pay salary if you're collecting cryptocurrency as a form of Revenue so we help you with the salary payment we can do that if you have some form of merchant take for example you're an nft platform or game five platform right what you need is actually ability to ramp on for your users from credit card debit card into cryptocurrency we provide that solution for you as well now if you just an affluent individual that's even more simple right you can work with us on both of us open an account and straight away we'll be able to help you facility the crypto Fiat conversion and be able to pay at our merchants of course we'll share the list of merchants with you and once you onboard it so those are the key things that we can actually work on together and this gives you a snapshot of what are the functions that we actually provide to both individuals and Merchants working with us right um so they'll get access to actually virtual account your whole Fiat cryptocurrency effectively will also issue card you could deposit the funds cryptocurrency as well make the conversion with Fiat money perform a withdrawal to your own bank account or even send funds to third party beautiful right simple and easy if you look at first four things if you think about it really you need a bank account in Singapore honestly you might not have to because we cover all of that and all you need to do with from deposit to withdraw and sending funds the other thing is that we actually provide to the merchants we look down the list is actually the ability to collect cryptocurrency or payments using card and QR code that will provide last but not least API connectivity for quick ability to scale up so we provide all that for the merchant as well now talking about solution is actually highly compliant and secure we are regulated by Mas again as a major payments institution in Singapore our platform has high availability now the Fiat money that clients deposit with us spoke with us for transfer are secured by a safeguarding Institution and the crypto asset you have with us within our wallets is actually protected by HSN level 3 mechanism so that's really safe so all this makes our solution highly compliant highly secure and very convenient for you as well so why not sign up account and try it out and while we were so focused on payment is that we really see the macro Trend here right it's a digital payments globally it's growing at a very rapid pace we're looking at about eight trillion dollars worth of volume right now and by 2026 we're talking about close to 14 trillion dollars of global volume so part of that is going to be attributed the cryptocurrency digital currency and digital payment for sure right if you take a snap back and look at just Singapore and narrow it down we're looking at at least a twofold increase to close to 40 million dollars worth of transaction and I bet they have not accounted for the 14 billion dollars worth of high net worth money we're talking about so it's a huge Market big opportunity so coming back to my topic it's about the winter what kind of winter do you want to make this you've seen a golden window opportunity to capture those wealth are you going to do something about it so we DTC is very well poised to handle this type of situation affluent client the merchants looking for crypto payment we're fully licensed in Singapore for six sub-activities under the PSA payment Service Act and we're seeing traction versus last year we've really seen four times more the number of affluent individuals on board with us as a platform we've seen 10 times the increase in transaction versus last year so again we've seen the trend we've seen the gaps in the market the opportunity and I'm showing you traction traction that people are really using this service they have a need for it so again if you're thinking along the same line you're working on certain product projects D5 platform and all that you need ways to collaborate come talk to us right at DTC we should be able to find you some solutions now I would just want to sum it up at this point in time by using a chart from I'm quoting from crypto.com and FIS recent payments report which is very interesting um look at this this is about the enthusiasm for crypto payment now um green color is from Merchant and blue colors for customers or consumers if you really look at luxury good and Retail very interesting the merchants are more than willing to provide crypto payment but if you look at the consumers they kind of like look warm 40 plus percent they're not too sure but what's interesting is that if you look at number one up there which is travel in the travel segment the consumers are raging they say we want to pay cryptocurrency but the merchants like um maybe not yet we're big we don't really care right now maybe that's the attitude but that's important because again we identify the gaps in the market you look at potential opportunities for you to grab to work with us if you're in the airline industry carbon industry maybe that's something we can do right now of course you're seeing gaming digital Hospitality hotels and all that Financial Services there are gaps there are gaps for us to fulfill so we can work on that and that is what DTC is all about so with that really let's make good use of this winter I think it's a golden opportunity for us to make it a phenomenal winter right not one that you sit around waiting for something to happen sit on the side light and see what people are doing we can make it a phenomenal winter together and the spring of crypto payment I really think has arrived right with that thank you very much if you want to talk about collaboration if you want to work with us go ahead scan my QR code or just visit dtcpayment.com contact us and we should be able to do something together whether you're affluent individual whether you're in a web tree or web2 industry let's work on something together and make it a phenomenal time thank you everybody