How Sequence Wallet powered purchases at the Singapore Fintech Festival

Sequence was used by participants at the Singapore Fintech Festival. Here’s Why 5,000 people opted to use the Sequence Wallet.

A major showcase of the latest innovations and developments in the FinTech space was held from the 2nd to the 4th of November at Singapore FinTech Festival 2022, attended by a large number of global financial institutions, regulators, and FinTech companies. The Sequence Wallet was featured as the recommended solution for a trial project at the event, bringing a seamless web3 experience to the attendees.

The Singapore FinTech Festival is the world’s largest FinTech festival and a global knowledge platform. As part of the event, members of the global FinTech community engaged in discussions, connected with others, and collaborated on matters related to technology, public policy, and financial services. This year’s edition brought together over 200 000 participants, from retail investors and institutions to regulators from across the globe.

As part of Project Orchid, supported by Singapore’s central bank and regulator, the Monetary Authority of Singapore, 5000 Participants of SFF were able to use Purpose Bound Money (PBM) in the form of digital vouchers, totalling 100,000 XSGD. PBM is programmable money, where the PBM creator can specify terms of use. You can read more about Project Orchid and PBM here.

Sequence Wallet was the recommended wallet for the trial, and we are extremely happy to have delivered a flawless experience to the participants. 100,000 XSGD was distributed, and over 40,000 XSGD was redeemed at selected food and beverage outlets during the festival. The vouchers were redeemed as an SFT (i.e. Semi-Fungible Token using the ERC-1155 standard, which was co-authored by Horizon & Sequence). Future phases of Project Orchid will be guided by the programme's results in infrastructure selection and design for a digital Singapore dollar.

StraitsX, the issuer of XSGD, the Singapore dollar stablecoin, had allowed the seamless exchange of funds between SFF attendees and merchants on the Polygon chain via Sequence Wallet during this pilot.

Aymeric Salley, head of StraitsX, said:

“For the development of the digital assets space to be transformative, it was imperative for us to work with a wallet provider such as Sequence Wallet that could provide secure transactions and ease of use for participants. The seamless integration with Sequence Wallet during this PBM pilot has also effectively demonstrated how blockchain wallets and stablecoins can be applied in real-world scenarios, with programmability and interoperability at the heart of making payment systems more efficient and inclusive.”

A high-quality user experience is one of our top priorities at Horizon. Sequence Wallet delivers a seamless web3 experience that allows users to access their wallet from any device: desktop, mobile, or tablet. You can embed Sequence on any screen, game, or dapp.

Our wallet is non-custodial, and has multi-key security, key rotation, and an account recovery feature. With social/email login, users create a smart contract wallet in two clicks without needing to download anything or worry about seed phrases.

We’re excited to see how our products accelerate innovation in FinTech and are always committed to providing an exceptional user experience.

We'd love to power your project if you’d like to deliver a seamless web3 experience for your users. Come chat with us on Discord, and if you are ready to start building right away, check out our docs.