PLMP Fintech's Venture Capital entity secures Fund Management licence to bring blockchain to over 10,000 SMEs in 10 years
PLMP Fintech's Venture Capital entity secures Fund Management licence to bring blockchain to over 10,000 SMEs in 10 years
PR83046
PHNOM PENH, Cambodia, Feb. 26, 2020 /PRNewswire=KYODO JBN/ --
The local investment arm of Singaporean blockchain firm PLMP Fintech, PLMP
Venture Capital, has been awarded today an Asset and Fund Management licence by
the Securities and Exchange Commission of Cambodia (SECC). The move is part of
the company's ten-year target to incubate more than 10,000 SMEs through
blockchain solutions and networking opportunities.
"We have a diversified portfolio of technological, real estate and financial projects
that are already in the works," says PLMP Fintech Co-Founder Peter Lim citing
the examples of the Creatanium Smart City and the ongoing integration of
Indonesia's logistics sector with the firm's own blockchain protocol.
In the words of Kym Kee, Managing Director of PLMP Venture Capital, "The licence will open
the doors to institutional and high-net-worth investment as we plan for the Creatanium
Silicon Valley." With a projected value of US$5 Billion to be achieved in the span of ten years,
once completed, the project would become Cambodia's first Technology Park to house SMEs
and start-ups in emerging technologies such as AI, robotics and cybersecurity through blockchain.
Asset and Fund Management is just the first step of PLMP Fintech's vision to
play a major role in the development of Cambodia's SME sector. The firm is in
the midst of acquiring a Specialized Bank licence to launch public, private and
online services and provide business loans and micro-loans through digital
collaterals. Counting on all three segments will grant the flexibility to cater
for established companies and institutions while developing new products for
the significant number of local entrepreneurs that are still unbanked.
In the same framework, PLMP Venture Capital together with its partner CSME will
be hosting regular events to showcase innovative SMEs from the region and give
them the chance to increase their visibility in front of top industry leaders and
potential investors. The two firms will be the sponsors behind this April's edition
in Phnom Penh of the Startup World Cup, a global competition that will award
the best project with a US$ 1,000,000 funding grant.
For Media Enquiries, please contact: media.comms@creataniumblockchain.com
SOURCE PLMP Fintech
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