Adhara expands into Asia with the appointment of market expert, Stanley Yong
Adhara expands into Asia with the appointment of market expert, Stanley Yong. Adhara has announced that it will be expanding its team and opening an office in Singapore from 1 September 2019.
Adhara is a leading software company that provides liquidity management and international payments for decentralised financial networks. Stanley Yong has been appointed by Adhara to head the Singapore office and will also be responsible for Adhara’s GroupNet product. GroupNet is one of Adhara’s business lines, a solution specifically designed for a financial network operator or groups of commercial banks delivering real time international payments and liquidity management to participants.
Stanley spent nearly 10 years at the Monetary Authority of Singapore where he was the Head of Innovation Acceleration, and previously, Deputy Director in areas of models and market risk supervision. He led the research and development of Project Ubin, the central bank’s multi-stage investigation of central bank digital currency on distributed ledger technologies. Peter Munnings, Co-founder of Adhara, who formerly worked with Stanley on Project Ubin says “We have known Stan for a number of years. He has a deep knowledge across central bank policy, processes and systems as well as various blockchain technologies. It is fantastic that he is joining us at Adhara”.
More recently Stanley was Global Lead on Central Bank Digital Currency Solutions and CTO at IBM. He has worked on scaling a number of projects at a global level and is a specialist leader in blockchain and distributed ledger technology. CEO and Co-founder of Adhara, Julio Faura, says “We believe that Adhara is well placed to offer our GroupNet solution, building on the success of our recent project with Union Bank (Philippines) and OCBC (Singapore) in the region. The appointment of Stan is testament to our growth as we believe in building a strong team with real depth, expertise and experience in scaling solutions for liquidity management and payments.” “Adhara has made significant progress towards scaling blockchain solutions and it is my job to make sure that we continue to deliver strong business value to our customers based on this solid technology,” says Stan Yong.
Adhara is headquartered in the UK and has development hubs in Spain and South Africa.
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liquidity management and international payment solutions. Benefiting commercial banks, their corporate clients, central banks or exchanges, Adhara’s platform delivers certainty by atomically clearing and settling tokenized fiat payments over a smart contract enabled distributed ledger. Together, these components provide holistic liquidity management for payments and market making solutions that help manage FX risk and leverage liquidity globally on a network in real time. Adhara has global reach with development hubs in Spain & South Africa, as well as business bases in UK and Singapore. Its diverse team has decades of experience across commercial banking technology, capital markets, blockchain and product design & development – including an Engineering team with excellence in cryptography, enterprise systems and end user app development.