Trade finance blockchain specialist CryptoBLK joins hands with DeerCreek and Microsoft

By Staff Writer

Hong Kong-based CryptoBLK has signed a partnership with two companies, management consultant DeerCreek and Microsoft, as part of its effort to expand its global footprint, according to a statement released by the company.

Duncan Wong, chief executive of CryptoBLK, said the partnership with DeerCreek, a strategic consultancy specializing in the financial sector, will the “help forge ahead with its ultimate vision to revolutionize global financial markets.”

The partnership with DeerCreek is expected to help CryptoBLK, which was spun off from Hong Kong’s government-backed Advanced Science Technology Research Institute (Astri), especially gain a stronger presence in the US market.

Michael R. Wasyl, managing partner of DeerCreek, said: “DeerCreek is excited to work with CryptoBLK to bring industry-leading Blockchain (sic) products to the North American market.”

In the United States, blockchain spending has grown at 110.1% during 2018 to reach $1.65bn, according to research by IBM. The spending is expected to increase from US$3.12bn in 2019 to reach $41.11bn by 2025, based on a report by Research and Markets.

Meanwhile, CryptoBLK also became one of the three Hong Kong-based firms that Microsoft signed partnerships as part of the tech giant’s plan to allow local small and medium businesses to rapidly build innovative digital solutions and capture opportunities.

Microsoft announced strategic partnerships with KBQuest, Fano Labs and CryptoBLK to take their innovative solutions global through co-sell and go-to-market support of its global network, according to a separate statement released by CrytpoBLK.

CryptoBL’s Wong said his firm launched its first open account and supply chain finance solution ATLAS, at the Microsoft Hong Kong Summit 2019. CryptoBLK is enjoying the boost in deploying and running the ATLAS platform from Microsoft Azure, which provides better productivity, higher efficiency, and greater security for our customers, Wong of CryptoBLK said.

 

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