SGX-listed OIO Holdings Names Rudy Lim As CEO Of Its Blockchain Subsidiary

OIO Holdings Limited (SGX: OIO) announced the appointment of Rudy Lim, former Head of FinTech at DBS Bank, as Chief Executive Officer (CEO) of its Blockchain Division, OIO Singapore Pte Ltd. The appointment of Rudy, a FinTech expert, is expected to further accelerate OIO's blockchain business.

Rudy has been a vocal advocate of the challenges traditional banks are facing and the need for significant transformation as the digital economy emerges. Driven by this foresight, he led Fintech innovation projects across various departments at DBS such as analytics, market research, and partnerships, which aligned with establishing a leading bank in Southeast Asia, and he played an active role within the Fintech ecosystem.

As the Head of FinTech at DBS, Rudy launched "Startup Xchange" to facilitate startups in co-creating solutions to DBS business challenges, enabling them to match and value-add the bank and also its potential corporate clients. Since its pilot in 2018, Startup Xchange has successfully conducted over 40 proofs-of-concept with startups across the bank and successfully rolled-out more than 20 emerging technology solutions.

Prior to his career at DBS, Rudy was a part of the venture investment and business innovation team at Singapore Press Holdings (SPH), where he was involved in supporting startups from conceptualization to funding their business models.

Rudy emphasizes his reasons for joining OIO as follows:

• Singapore has the best business environment for blockchain business, with a group of Singaporean government agencies launching a new research program for blockchain technology in the second half of 2020 with a funding of S$12 million.
• 2021 is a year of great progress in blockchain technology and that the growth of the blockchain and crypto-asset market will begin from here.
• As one of the first listed blockchain companies in Singapore, OIO is in a position to take full advantage of the market environment.
• OIO has officially announced that it has entered into negotiations to acquire Moonstake, one of the largest staking providers in Asia.

Proposed Acquisition of the Entire Share Capital in Moonstake Pte. Ltd. & Moonstake Limited

Moonstake's crypto asset transaction value exceeds USD200M as of January 19, 2021, making it the 16th largest staking pool out of 1692 providers according to Staking Rewards, a staking ranking site.

With the addition of Rudy to the team, OIO is looking to expand its business into the investment and incubation area and will actively acquire leading blockchain businesses such as Moonstake.

CEO Rudy's comments, "I am very honored to be appointed as CEO of OIO Singapore Pte Ltd, a great company with talented people and great potential. Based on this strong foundation, we would like to continue to facilitate product performance and innovation, while we aim to be a trusted partner to our customers in today's rapidly changing environment.

"In order to do so, OIO must continue to innovate and lead our customers on their transformation journey. Blockchain and innovation are the two major driving forces for our customers' transformation, and we need to focus on them across the whole company. My goal is to ensure that we fully commit ourselves to our customers, employees and stakeholders through strong values, leading innovation and passion."

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