Last July, IOV Labs partnered with Coinsilium to establish Singapore’s RSK Adoption Hub, and this week the pair have announced a further collaboration in the form of a Strategic Investment Agreement. IOV Labs, the parent company of Bitcoin smart contract platform RSK, will form a landmark joint venture company – also based in Singapore – with the blockchain venture builder. The goal is to promote RSK and RIF OS blockchain solutions in the Asia Pacific region.

For IOV Labs, the agreement is the latest in a series of ventures in the region, having already formed alliances with Japan’s biggest blockchain accelerator BinaryStar, as well as Singapore’s first government-backed accelerator, Tribe. It is hoped that the IOV Labs’ £250K investment into Coinsilium, part of which will be apportioned to joint initiatives, will lead to greater adoption of RSK’s products, services and technologies throughout the blockchain-curious Asian enterprise markets.

RSK allows developers to build the kind of decentralized applications that have made Ethereum the DeFi network of choice - on Bitcoin. The RSK Infrastructure Framework Open Standard (RIF OS), and the RIF token that powers the ecosystem, enables the creation of digital identities, the establishment and enforcement of agreements, and the ability to finalize commercial transactions without the need for intermediaries. Speaking of the RIF token, IOV Labs recently joined forces with Money on Chain to develop a RIF dollar, which lets token holders access defi services developed for Bitcoin.