Vaulta, formerly known as Eos Network, and its digital banking platform joined forces with Fosun Wealth Holdings to provide blockchain infrastructure to the Hong Kong financial sector, companies said.
The partnership focuses on “Finchain”, a virtual asset company launched by Fosun Wealth Holdings, which is part of the Fosun international conglomerate.
This conglomerate includes various companies, including regional insurance leaders and health leaders in Europe, Asia and the Americas.
Vaulta will provide its complete banking suite, while the ESSAT, the Vaulta digital banking platform, will serve as a chain bank layer for asset issuance, the creation of elements and cryptographic payments, according to a press release shared with Coindesk.
The agreement allows Vaulta and the ESSAT to draw from the existing financial licenses of Fosun and the emission capacities of real assets (RWA), which gives them a regulatory springboard to scale the native banking services of blockchain.
For Zhao Chen, director of digital assets at Fosun Wealth, collaboration provides the infrastructure necessary to deploy new generation financial products.
“Vaulta and Exsat bring the vision of the product and the digital banking capacities that we need to make finchain a reality,” he said in the announcement.
The initiative is part of the brand change and the wider expansion of Vaulta in the finance of the blockchain of institutional quality. The partnership should lead to more collaborations focused on web3 financial infrastructure across Asia and beyond.
