Berlin, Germany – May 23, 2024: Singapore’s on-chain business account Headquarters is poised to become the focal point of the on-chain economy by offering a consolidated business account for Web3 teams. This initiative tackles the fragmented systems that impede digital asset adoption, thereby optimizing financial operations within the sector.
With a focus on self-custody, Headquarters provides full asset control, enabling seamless crypto and fiat payouts, and empowering Web3 builders while upholding the core ethos of decentralization.
Keynote at SafeCon 2024
Headquarters’ CEO and co-founder, Sharon Lourdes Paul, will be a keynote speaker at SafeCon 2024. She will explore:
- Asia’s pivotal role in the rising on-chain economy,
- Announcement of future strategic partnerships and Self Custodial Visa Corporate Debit Cards
- Emphasizing the region’s regulatory support, market leadership, access to funding and talent
- Disconnect between on-chain and real-world operations
Workshop at SafeCon 2024
Headquarters’ CTO and co-founder, Sunny Singh will be a speaker at SafeCon 2024. He will explore:
- Current state of Web3 Finance operations
- How businesses can scale their on-chain business operations.
The Reality of Web3 Financial Operations
- Despite Web3's rapid expansion, teams face challenges managing fiat currency expenses.
- Many projects rely heavily on stablecoins (USDT, USDC, DAI), comprising over 50% of their treasuries, as reported by CoinGecko.
- Since 2017, crypto-friendly banks and fintech firms offer hope, though through non-custodial methods.
- Existing market solutions, like cards, mainly operate under custodial frameworks, limiting teams' financial autonomy and control.
Challenges include managing payroll, paying for essential services (such as hosting, marketing, and legal), and regulatory compliance. Additionally, stablecoin reliance brings banking issues (for instance, converting stablecoins to fiat), regulatory scrutiny, and liquidity constraints.
Headquarters' Solution
Headquarters addresses these issues with a unified platform that integrates multiple financial systems, offering:
- Self Custody Solutions
- Treasury management and tracking
- Token-to-token payments
- Automated transaction tagging for crypto accounting
- Strategic partnerships for crypto-to-fiat payouts (to be announced during event)
- Corporate crypto debit cards for self-custody transactions with Visa (to be announced during event)
Financial Challenges Highlighted
Internal data from Headquarters reveals that Web3 startups average annual card transaction expenditures of US$45k and face off-ramp fees ranging from 1 to 3 per cent in Singapore.
Impact and Growth
Headquarters has tracked close to 1 million in on-chain transactions and over 60 million in annualized on-chain payment volume through their dashboard/ app.
Recent Funding
Following a successful pre-seed funding round, Headquarters secured US$5 million from investors such as Crypto.com Capital, Forge Ventures, and MassMutual Ventures, validating their vision and capabilities.
Empowering Web3 Teams
As the central hub for Web3 finance, Headquarters supports pioneering teams like Pixelmon, Mantle, and Ocean Protocol, driving financial success and innovation in the digital asset space.
About Headquarters (HQ.xyz)
Headquarters (HQ.xyz) is the on-chain business account, dedicated to unifying and streamlining business operations in today’s on-chain economy. Headquarters provides a comprehensive suite of services, including batch token payments, crypto-to-fiat payouts, and treasury reporting.
They also offer HQ Concierge, A white-glove service that ensures seamless implementation and continuous back-office support at all stages, collaborating with local experts for tasks like incorporation, account reconciliation, payroll, and bookkeeping.
