Cregis and Sumsub Host Web3 Compliance and Trust Summit in Singapore

Digital asset infrastructure provider Cregis and identity verification platform Sumsub announced that they jointly hosted the "Web3 Finance: Powering the Future of Trust" summit on October 1, 2025, at MBFC Tower 2 in Singapore. The event brought together professionals from banking, payments, and crypto industries for in-depth discussions on Web3 trust-building and compliance development.

Joint Product Showcase and Interactive Sessions

The summit opened with an engaging joint presentation segment, where Cregis COO Jason Ma and Sumsub's Ying Li introduced their respective company backgrounds and core product solutions. Jason Ma highlighted that MPC technology effectively reduces asset security risks through private key sharding management, with the platform currently managing assets worth hundreds of billions of dollars and providing MPC wallet and payment infrastructure services to over 3,500 enterprises globally. Ying Li noted that Sumsub provides identity verification services to over 4,000 clients, including Bybit and Huobi, helping enterprises meet compliance requirements across different jurisdictions.

The event also featured interactive Q&A sessions with prizes, generating enthusiastic participation from attendees.

Panel Discussion: Web3 Trust Stack in Practice

The summit's core segment was a panel discussion titled "Web3 Trust Stack: Identity, Compliance, and Infrastructure in Action," moderated by Eelee Lua, Chief of Staff at xcube.co, bringing together industry veterans for deep conversations on Web3 trust-building.

Compliance Challenges and Resource Allocation Strategies

Cregis APAC Business Development Director Eric Cheung led off by sharing the real-world challenges of enterprise compliance. He emphasized that enterprises must recognize a fundamental reality—available resources are limited. In the current environment of increasingly stringent compliance requirements, companies need to reassess their strategic planning, clarifying which core capabilities must be built in-house and which areas can be enhanced through collaboration with professional service providers.

Eric Cheung said: "Partners with compliance experience and business insights don't just provide services—they bring industry knowledge and resources for mutual benefit. This represents the future direction of our industry: collaborative community development."

Regarding Web3 development priorities, Eric's position was clear: "Identity verification is becoming the foundational infrastructure for the entire industry. Whether it's AML, tax compliance, or regulatory reporting, everything ultimately comes back to one fundamental question—who is the user? As regulatory frameworks continue to mature, the space for anonymous transactions will shrink, and real-name verification will be the inevitable trend."

Balancing Regulatory Adaptation and Technological Innovation

Interlace Head of Strategy and Operations Henry Chan addressed the current compliance landscape, acknowledging that regulation has indeed brought challenges to many enterprises, with the industry working to adapt and transform. "When we consider compliance balance, while we cannot change regulatory rules, we can ensure enterprise compliance costs remain manageable through technological innovation."

In advancing industry development, Henry deconstructed industry trust-building into specific issues for discussion, including how to build trust with end users, markets, institutions, and governments across multiple dimensions, offering his perspectives on establishing trust within the industry.

Emerging Fraud Challenges and User Experience Optimization

Sumsub APAC Vice President of Business Development Penny Chai analyzed current industry challenges from a technical perspective. She first addressed emerging fraud threats: "Deepfake technology and synthetic fraud are becoming new threats. The latter is particularly insidious, mixing real personal information with fake data, making it very difficult for traditional verification methods to detect."

Regarding user experience, Penny candidly identified industry pain points: "Enterprise compliance pressure is already enormous, and users are fed up with having to complete KYC everywhere. Every platform requires re-verification, wasting time and increasing costs."

Based on this situation, Sumsub launched reusable KYC solutions. "One verification, multiple platform usage—helping enterprises reduce compliance costs while sparing users the hassle."

On regulatory trends, Penny maintained an optimistic attitude: "Regulation isn't an obstacle—it's setting boundaries for innovation. When we know where the rules are, we can maximize our innovative potential within those boundaries."

Industry Outlook and Collaboration Prospects

Participating experts unanimously agreed that identity verification has become a standard configuration for Web3 projects, security technology applications can effectively reduce operational risks, and compliance process design needs to balance efficiency with user experience.

Following the event, multiple participating enterprises expressed interest in collaborating on related technology services. Both companies indicated they will continue advancing product integration to provide Web3 enterprises with comprehensive services from identity verification to asset management.