At 3 p.m. on November 14, 2023, Dr. Xiao Zhang, the founder of zCloak Network, spoke at the roundtable discussion on the future development of cross-border finance and payments at the Elevandi Insights Fintech Festival in Singapore as a special guest. The conference brought together leading figures from financial institutions including the Monetary Authority of Singapore, the Reserve Bank of Australia, JPMorgan Chase, Citibank and many others to exchange views on this topic of global concern. At the beginning of the conference, Dr. Xiao Zhang and other fintech experts discussed the current status of cross-border transaction compliance and the challenges they face, with a particular focus on the main difficulties encountered by financial institutions in cross-border compliance procedures, such as KYC data privacy protection, illegal transaction tracking and filtering, etc., and detailed the potential of blockchain technology to improve cross-border payment and financial compliance. He pointed out that with the digital transformation of the global economy, the way traditional financial transactions are gradually being changed by emerging technologies. As a cutting-edge technology, blockchain can not only improve the transparency and efficiency of transactions, but also effectively reduce compliance risks, thereby promoting the development of the entire financial industry. Dr. Zhang also highlighted zCloak Network's advanced experience in developing decentralized authentication solutions and its latest product, Legit ID (legit3.id). He explained how to use DID and VC under W3C standards and zero-knowledge proof technology to simplify the cross-border transaction process, while reducing compliance costs and strengthening user data privacy protection. This view sparked an enthusiastic response from the attendees, who generally agreed that such innovative technologies will be a key force in driving the development of cross-border finance and payments in the future. At the end of the meeting, Dr. Zhang Xiao expressed his optimism about the future development of cross-border finance. He said that zCloak Network will continue to be committed to technological innovation to bring more efficient and secure solutions to global cross-border financial transactions, and looks forward to working with industry colleagues to promote progress in this field. This roundtable not only demonstrated zCloak Network's active participation in the global fintech field, but also provided new thinking and direction for the future of cross-border finance and payment. In the next step, zCloak Network will actively maintain communication with regulators and cooperate with business partners in the banking and payment industries to promote the commercial application of Web3 technology in the field of multinational finance and payment.

Hindustan Petroleum Corporation (HPCL), India's state-owned refinery, one of India's largest oil and gas companies, is rolling out a blockchain system to enable automatic verification of purchase orders (POs). The two companies said in a joint statement that HPCL has partnered with blockchain software company Zupple Labs to integrate its blockchain-based digital authentication technology into the purchase order system. Zupple Labs' verification technology, called Legit Doc, enables HPCL to issue digital POs to its vendors without having to manually validate PO requests. From a third-party verifier's perspective, the project provides a tool to directly verify PO validity in an automated manner on the HPCL website.

Jinse Finance reported that Crypto Quant CEO Ki Young Ju said on social media that I still believe that due to redemption issues, billions of dollars in TUSD have been injected into BTC and ETH. This is good for the market because as long as TUSD is legit, it will generate forced buying and drive prices higher. Additionally, exchanging other stablecoins for fiat can be a challenge, especially for non-U.S. citizens. For example, Chinese users may prefer to hold BTC and redeem smaller amounts through local cryptocurrency exchanges or OTC desks rather than using small banks.

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