Issue link: https://maltatoday.uberflip.com/i/1182680
7.11.19 3 NEWS APAY Systems LTD, a high-volume on- line payments processor, inaugurated its new Malta headquarters on Monday. Parliamentary Secretary Silvio Schem- bri cut the ribbon on the penthouse-lev- el offices, located in Santa Venera. At the opening ceremony, Schembri said, "e inauguration of these offices proves government's proactive stance in providing a robust regulatory frame- work on Distributed Ledger Technolo- gy bearing valuable fruit and reinforces Malta's decision in being at the forefront of this industry." Schembri also welcomed aPay Sys- tems' decision to put forward its intent to acquire a Maltese Virtual Financial Assets service provider license, saying, "I thank aPay Systems for not only demonstrating their confidence in Mal- ta but the changes the government is af- fecting within this sector, which are ul- timately proving a secure ambience for the industry to operate within as well as enabling valuable economic growth for our country," he said. aPay's new headquarters houses a staff of 25, said Philipp Sauerborn, CEO. "Malta is the ideal home for the aPay group of companies. For innovative blockchain-based financial services, all roads lead to Malta, and aPay has estab- lished a significant physical presence on the widest of those roads." In remarks alongside Schembri, Sau- erborn revealed that aPay would be the largest exhibitor at the Malta Blockchain Summit, which opens today. "aPay will be demonstrating the biggest new developments in the blockchain online pay- ments sector, which we will showcase at the Summit," said Mr. Sauerborn. e Malta Blockchain Summit runs into tomorrow. aPay's technology demonstra- tion will show Summit visitors how to execute live transactions from the aPay blockchain to stored value China UnionPay, Visa and MasterCard card accounts, with reads and writes executed in fractions of a second. "aPay's demonstration of speedy, blockchain-focused operability with a major credit card network will impress visitors," Sauerborn said. "Before aPay's integration of technol- ogy concepts driven by the aBey block- chain development project, transactions written to other blockchains would re- quire minutes, even hours to complete. However, aPay completes every trans- action in milliseconds. ere is no other blockchain-focused payments processor which can deliver such speed and flexi- bility, demanded by businesses and con- sumers." Sauerborn also revealed that the com- pany will showcase its own stored value China UnionPay card, which is available now. He said that Visa and MasterCard aPay cards are now in the final stages of implementation. Summit visitors may open accounts and live transactions will be performed at aPay's Malta Blockchain Summit booth. Dr. Ciprian Pungila, co-creator of the open source aBey blockchain said that aBey Foundation was happy to be a li- censor of aBey technology to aPay Sys- tems. "aPay's demand for fluid, high-volume transactions are easily met by our un- derlying technology, which we believe to be amongst the world's fastest and most flexible," he said. Pungila will make sched- uled appearances at the aPay booth as well as delivering today's key- note speech at the Malta Blockchain Summit alongside Schembri. One week after its technology demon- strations in Malta, aPay Systems will exhibit at Singapore's Blockshow Asia 2019, running November 14-15. "At Blockshow Asia, visitors will see the extraordinary speed and flexibility of aPay Systems' on-chain interoperability with the existing China UnionPay stored value cards and the upcoming Visa and MasterCard cards," Sauerborn said. "Visitors to the aPay Systems booth are welcomed to apply for aPay China UnionPay cards, pre-register for the up- coming Visa and MasterCard cards and perform transactions in the blockchain in real-time." aPay Group opens Malta HQ, will showcase payment processor at Malta Blockchain Summit Parliamentary secretary Silvio Schembri inaugurating aPay's new headquarters