PRNewswire
Singapore, September 30: The Responsible Fintech Institute (RFI), a new global nonprofit organization based in Singapore, today announced its official launch for creating a safe, trustworthy, and reliable digital finance ecosystem. The launch was held at the welcome dinner of the inaugural Digital Assets Summit 2025, an event organized by the Digital Assets Association (DAA) for which RFI was the title sponsor. During the launch, RFI signed a Memorandum of Understanding (MOU) with the DAA to formalize their collaboration.
The RFI is dedicated to developing foundational digital utilities and fostering collaboration among both digital and traditional finance industry players. The founding members include Bison Group, supported by its affiliate, Bison Bank, OKG Technology, Remi Technology, VerifyVASP and the SlowMist. This powerful alliance of traditional finance, fintech service provider, and Web3 leaders underscores RFI’s mission to bridge the gap between traditional and decentralized financial systems.
The institute will bring together diverse groups–including financial institutions, regulators, technology firms and academia –to co-build the necessary standards and infrastructure for new digital financial tools, making the digital asset world sustainable and inclusive for everyone.
“We are proud to stand with our founding members–Bison Group, OKG Technology, Remi Technology, VerifyVASP and the SlowMist–who share our vision for a more responsible and secure digital financial future,” said Chia Hock Lai, Chairman of the Responsible Fintech Institute. “Their commitment and expertise are invaluable as we begin the critical work of building shared utilities that can support responsible innovation, protect consumers, manage financial crime risks, and drive industry growth.”
“Bison Bank is committed to leveraging technology to build a more inclusive and secure financial system,” stated Mr Bian Fang, Chairman of the Board, Bison Bank. “The Responsible Fintech Institute is geared to integrate cutting-edge innovation with a strong commitment to regulatory compliance and consumer protection, and its efforts would help shape a future where digital finance is both dynamic and trustworthy.”
“As a leading blockchain technology solutions provider, OKG Tech understands the critical importance of balancing innovation with responsibility,” said Jeffery Ren, Chairman and CEO, OKG Technology. “We are honored to be a founding member of the Responsible Fintech Institute and to contribute our technical expertise to develop the shared infrastructure that will empower a more secure and resilient financial ecosystem. This partnership is a testament to our dedication to fostering sustainable growth and ensuring a responsible digital future for all.”
“Remi Technology’s mission is to provide the critical infrastructure that bridges traditional finance and the next generation of digital assets,” said Sam Su, CEO, Remi Technology. “Our interbank stablecoin clearing system is built to provide banks and financial institutions with a compliant, secure, and efficient way to transact globally. By joining the Responsible Fintech Institute, we are committed to collaborating with our peers to establish the standards and safeguards needed to ensure that this new era of financial connectivity is built on a foundation of trust and regulatory certainty.”
“As a leading Travel Rule service provider, VerifyVASP’s objective is to support the responsible growth of the Virtual Assets industry by enabling our members with objectives-based compliance through verified transactional data,” commented Shihyun Chia, CEO, VerifyVASP. “We are proud to be a founding member of the Responsible Fintech Institute, where we can contribute both expertise and thought leadership to help build the shared utilities that are essential for global compliance in a borderless industry. This collaboration is crucial for advancing the industry’s ability to combat financial crime and foster trust.”
“At SlowMist, our mission has always been to enhance the security and resilience of the digital asset ecosystem,” said Blue Yang, Partner & CTO, SlowMist. “By joining as a founding member of the Responsible Fintech Institute, we are proud to contribute our expertise in blockchain security to help build a safer, more transparent, and trustworthy financial future. Together with our partners, we will strengthen the foundations needed for responsible innovation and sustainable growth in the global digital finance industry.”
RFI’s first major initiative is the Verified Identity & Trust Alliance (VITA). VITA is a network that helps member companies verify customer identities, manage risk, and comply with key regulations such as Know Your Customer (KYC) and payment transparency. By providing a shared “stamp of approval” for digital wallets, VITA eliminates the need for redundant checks, increases trust and safety across the ecosystem, and protects user privacy by sharing only essential verification status and compliance-related information.
By uniting a diverse group of stakeholders, the RFI is poised to become a central force in shaping the future of finance, ensuring that the next wave of digital innovation is built on a foundation of trust and accountability.
About the Responsible Fintech Institute The Responsible Fintech Institute (RFI) is a global nonprofit organization based in Singapore. Our goal is to create a safe, trustworthy, and reliable future for digital finance by building the digital utilities to support responsible innovation. Our work involves bringing together different public and private sector stakeholders to help build the necessary rules and technology for new digital financial tools, making the digital asset world sustainable and inclusive for everyone.
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