The newly formed Swiss Asian Crypto Alliance wants to connect the Crypto Valley and the APAC region. The association will launch within the next weeks and will organize a first blockchain summit in Seoul in November.
The Swiss Asian Crypto Alliance (SACA) does not yet officially exist. It will launch within the next weeks, but the website and social media presence are already live. They offer a sneak preview of what’s coming next.
The idea is to launch a network of blockchain and crypto businesses connecting Switzerland and Asia. The Association will operate out of Zug and bring together companies and professionals from Switzerland, Liechtenstein, and South Korea. In 2020, Hong Kong, Singapore, and Japan will be added to the list.
Asia-Pacific region is the fastest-growing blockchain market
The Asia-Pacific region is currently the fastest-growing blockchain market in the world. According to a Global Markets Insights (GMI) report, the total market size could reach $16bn by 2024, which represents an 87% CAGR during the forecast period.
There are several reasons for this rapid growth:
Firstly, governments in the region are supporting and are pushing the blockchain agenda themselves, and are even launching their own initiatives. The Singapore government, for example, has launched a blockchain-based trade portal; and Thailand is investigating a blockchain-based voting system.
Secondly, emerging markets are generally great playing fields for blockchain startups. As the domestic infrastructure is not as developed as in western countries, there is a greater need for technological solutions. The latter might be less of an issue in South Korea, Hong Kong, Singapore, and Japan, as those are all highly developed nations.
While there is more than enough capital in most of these countries to support blockchain projects, what’s often missing is the expertise. Therefore, the Swiss Asian Crypto Alliance could provide value by connecting startups and professionals from both regions and foster cooperation and information exchange.
Vice versa, the Crypto Valley can also benefit from the expertise that has been built up in the APAC region over the past years – and probably even more from the access to Asian venture capital investors.
Diversified and experienced team
The president of the association is Mr. Sothy Kol-Men, who advises banks, fund managers, and fintechs on DLT, digital assets, blockchain, and regulatory projects as a Senior Counsel at a Swiss law firm.
Vice president is Ms. Juhee Lee, who is active in the blockchain and crypto scene in Switzerland and South Korea. Also a member of the Board of Directors is Ivo Sauter, Chief Client Officer at Six Digital Exchange (SDX).
Besides the Board of Directors, SACA has a range of experts on board from both the Crypto Valley and Asia.
First blockchain summit in Seoul in November
The services for members will include business facilitation such as access to CEOs, VCs, and startups as well as tailored support in organizing business meetings. SACA will also provide its members with preliminary legal and regulatory market entry consulting services in the regions covered by the association.
Furthermore, SACA plans to organize at least two major conferences per year; one in Asia and one in Switzerland.
The first blockchain event will take place in Seoul in November. It will be a blockchain-summit with attendance of the CEOs of several Swiss-based crypto companies as well as larger banks, according to SACA.