Innovation and Transformation within Traditional Finance World by means of Digital Assets

Andrei Popescu, founder of SCX Holdings tells us about financial digital assets. 

First of all, how are you and your family doing in these COVID-19 times? 

Andrei Popescu: The ripple effect of the COVID-19 pandemic has been so powerful that it may change the way we interact with each other forever. For the time being, my family and I are safe, and we are doing everything in our powers to keep healthy and positive. My parents have already been vaccinated, and I was lucky enough to be based in Singapore, where the pandemic consequences have been very well managed. As we are living some challenging times, I wish you all well. 

Tell us about you, your career, and how you founded SCX Holdings.

Andrei Popescu: I am a vision-driven entrepreneur, always focusing on novel and innovative business concepts. I have been fascinated by crypto-assets and as a result, I co-founded one of the first crypto exchanges originating from Singapore. Defining Crypto as a Novel Asset Class, along with the benefits of Financial Digital Assets, was also one of the topics within my research as a Ph.D. Candidate. My journey into FinTech and Financial Digital Assets, combined with Strategic Investments and Quantitative Algo Trading, consolidated as a new venture that is entitled SCX Holdings.

We have founded SCX Holdings in 2018, as an Alternative Asset Management & Investment and IP Holding Co. with a focus on Disruptive Technologies and Digital Markets. At SCX Holdings, we believe that the introduction of Alternative FinTech Assets into the financial services sector, will not only stabilize the investment landscape but will radically disrupt old-school ways of the financial world.

How does SCX Holdings innovate? 

Andrei Popescu: Our philosophy is that the world can be understood, and we strive to build a fundamental, cause-and-effect understanding of markets and their participants.

SCX Holdings is increasing the offer of Decentralized Finance (DeFi) and FinTech solutions, as the segment of alternative investments is opening up the trading sphere to assets that, until now, could not be traded quickly and easily. This type of innovation will enable us to create faster and more cost-effective financial instruments. 

DeFi has grown from a blockchain-based FinTech sandbox into a complex array of platforms through which borrowers, lenders, and investors can undertake bank-like transactions without intermediaries. This growth could mark the beginning of a major leap forward in how we use and interact with money & financial services. You can read more about our latest DeFi Protocol at or about our services. 

How does the coronavirus pandemic affect your business finances?

Andrei Popescu: Obviously, most of the financial participants have felt some sort of shock or effects from the COVID-19 pandemic. Most of our partners suffered a significant fall in earnings due to this situation and SCX Holdings is no different. Financial market volatility and risk have opened the door for a new decentralized market infrastructure that can expand market participation and ensure greater liquidity, trust, and transparency.

Overall, 2020 was a very interesting year as we saw an increasing interest within DeFi and Financial Digital assets. We have been fortunate to work in this space and we got tremendous attention during the pandemic. DeFi is still in its infancy, however, it is expected to grow quickly as there is increasing interest for decentralized or alternative financial products outside of the traditional financial system.

Did you have to make difficult choices regarding human resources and what are the lessons learned?

Andrei Popescu: We were in an excellent position, as most of our activities are involving digital infrastructures and instruments. The transition to a work-from-home environment was relatively seamless as our team was already decentralized. We have people around the world, so distant workflow and cooperation were not new to us; we have adapted to this new reality immediately.

How did your customer relationship management evolve? Do you use any specific tools to be efficient? 

Andrei Popescu: As all the relationships moved in a digital world, we needed to assist and support our partners, friends, and clients. Our team is highly technical and we managed to use our resources to implement a secure, fully-featured, and completely free video conferencing tool, for everyone to use in these uncertain times. 

SCX Meet is a fully encrypted, 100% open-source video conferencing solution that you can use all day, every day, for free – with no account needed. The project was a success and everyone took advantage of it.

Did you benefit from any government grants, and did that help keep your business afloat?

Andrei Popescu: We are in a very good position to sustain ourselves, so we didn’t require any assistance. I believe it’s important to acknowledge that The Monetary Authority of Singapore put significant focus on supporting the FinTech community, pivoting existing programs, and launching new ones under its market development mandate. There are many grant schemes for both the financial and FinTech sectors to deal with the immediate challenges from COVID-19.

Your final thoughts?

Andrei Popescu: Keep on innovating! Be safe! Be strong! Things will get better!

Your website?

https://scx.holdings/ 

https://acacia.scx.holdings/