RigSec and Alibaba Cloud today signed a Memorandum of Understanding (MoU) at the Alibaba Cloud Summit Hong Kong 2023 to facilitate the compliant development of virtual assets in Hong Kong.

Under the MoU, RigSec will everage the advanced infrastructure capabilities of Alibaba Cloud to develop cutting-edge regulatory technology products and solutions. This includes providing self-custody solutions and licensing application consulting services for local virtual asset trading platforms (VATPs). 

The goal is two-fold: to help VATPs establish and maintain compliant operations while quickly adapting to changing regulations. And to ensure the highest security standards to protect digital assets.

"We are pleased to partner with Alibaba Cloud to jointly advance the compliant growth of Hong Kong's virtual asset sector," said RigSec CEO Sarah Ye. "By combining our strengths, we aim to support digital asset firms through regulatory technology offerings."

The Alibaba Cloud Summit Hong Kong 2023, attended by government officials and industry leaders, is a full-day event that features insightful discussions on cloud computing, artificial intelligence, Web3 and business innovation. Sarah was invited to speak at a panel discussion titled "The Opportunities of SFC-Licensed VATP," where she shared her insights on digital asset regulation and showcased RigSec's expertise in regulatory technology.

About RigSec

Founded in 2018, RigSec is a blockchain RegTech company that provides one-stop, regulatory-compliant self-custody solutions for digital asset service providers such as exchanges, custodians, digital payment service providers, and digital banks. As the industry's first regulatory technology provider, RigSec provides customized solutions that align with the specific needs of each enterprise, enabling them to meet the requirements of different regulatory environments at various stages.

To learn more about how RigSec supports regulatory compliance and safeguards digital assets, please visit http://www.rigsec.com/self-custody-solutions or contact our Business Development Manager, Christina Liu, at [email protected].