Venom Foundation, a blockchain innovator based in the Abu Dhabi Global Market, is making headlines with its latest initiative: a Layer-0 blockchain platform designed to help Southeast Asian countries modernize and connect their financial systems. The foundation has reached out to central banks in Singapore, Malaysia, the Philippines, and Vietnam, inviting them to co-create a next-generation financial infrastructure that addresses the region’s ongoing challenges with fragmented payment systems and slow cross-border transactions .
What Makes Venom’s Blockchain Different?
Venom’s platform is already live and tailored for public-sector use. It’s built to support real-time settlement, cross-border payments, and on-chain regulatory oversight. One of its standout features is compatibility with ISO 20022 messaging standards, which means it can integrate smoothly with existing banking systems—a hurdle that has limited blockchain adoption in the public sector until now .
The platform also includes:
• Tools for issuing sovereign-backed stablecoins
• Built-in compliance features for KYC (Know Your Customer) and AML (Anti-Money Laundering)
• Modular features like real-time analytics dashboards, identity verification, and asset tokenization (for things like land records or carbon credits)
This modular approach allows governments to adopt only the features they need, at their own pace, without overhauling their entire infrastructure at once .
A New Governance Model: Decentralized, But With State Oversight
Venom’s governance model is a blend of decentralization and state control. While the blockchain ensures efficiency and uptime, validation rights are partially assigned to public-sector entities. This means national institutions can maintain oversight and regulatory control, addressing a key concern for governments considering blockchain solutions .
Why Southeast Asia, and Why Now?
Southeast Asia is experiencing rapid growth in digital payments, with transaction volumes expected to reach 765 billion by 2027. The Philippines alone accounted for nearly 5% of global remittance inflows in 2023. However, the region still faces issues like delayed cross-border transfers, manual reconciliation, and weak auditability, all of which increase costs and risks for financial institutions .
Venom’s solution aims to tackle these pain points by providing a shared, interoperable infrastructure that can modernize domestic operations and enable seamless regional finance.
Pilot Programs and What’s Next
Pilot programs are already underway in the Philippines, with a broader rollout planned for 2025. The foundation’s vision is to create a more integrated, transparent, and resilient financial system across Southeast Asia, empowering governments and unlocking new opportunities for citizens .
“We are pioneering the future of financial infrastructure. Our mission is to empower governments and institutions through next-generation blockchain technology, strengthening their sovereign capabilities and unlocking new opportunities for their citizens.”
— Christopher Louis Tsu, CEO of Venom Foundation
