Matthias von Hauff is Founder and CEO at WEG Bank. WEG Bank is a German credit institution in the form of a stock corporation and was founded in 2015, focussing on the German housing industry. Following their motto “always one step ahead”, the bank has expanded its offering to include fintech products around blockchain-based applications. This second business area operates under the name TEN31 Bank. TEN31 Bank aims to contribute to the development of blockchain-based currencies by providing regulated banking solutions for the blockchain community, that are independent and accessible to all. With the TEN31 Bank, Matthias von Hauff has made a decision that would contribute to our future with great technologies immensely. Furthermore, TEN31 also demonstrates its engagement for blockchain technologies by being the presenting partner at the upcoming BLOCKCHANCE conference.
Matthias Von Hauff – the connector of banking and blockchain technology
Matthias brings a BSc. in Real Estate Economics & Finance from Cass Business School in London. Before founding the WEG Bank, he collected experience in the finance and housing industry sector as CEO at BfW. Nowadays, Matthias is working towards the future with great anticipation. He believes that blockchain technology will not particularly threaten banks in the coming years. Rather, there would be a shift in the required competencies, as it is the case with every technical revolution. He shares the opinion with many experts, that the development of blockchain technology is comparable to the advent of the internet. Matthias has made it his mission to bridge the gap between traditional banking and the world of blockchain. He represents this philosophy through the TEN31 Bank. To get a glimpse of him and his vision, check out our previous BLOCKCHANCE Online LIVE show here, where Matthias von Hauff and Sven Hildebrandt, Managing Director at Distributed Ledger Consulting, give an introduction to bitcoin and cryptocurrencies.
TEN31 – Always being one step ahead
Through regular contact with leading players from the fintech industry, the board of WEG Bank identified a gap in demand at the right time. As a result, the bank developed a second business segment in 2018 and now positions itself under the brand name TEN31 Bank as a specialist institution for banking services in the field of blockchain-based applications. The name TEN31 Bank derives from 31 October 2008, when the whitepaper “Bitcoin: A Peer-to-Peer Electronic Cash System” was published by Satoshi Nakamoto, the founder of Bitcoin. The bank is dedicated to supporting the applicability of digital currencies in everyday life. TEN31 does not identify itself with a “crypto bank” but is to be seen as a service provider for companies specialising in blockchain technology. The fields of activity therefore include, for example, supporting ATM operators to process digital currencies or to map transactions made in FIAT currency in cryptocurrencies. Furthermore, Matthias von Hauff decided to open the bank to such shareholders who would provide strategic added value in terms of further development of the business model. Therefore, businesses like Salamantex, TokenPay Swiss, Nimiq, Anquan Capital – the company behind blockchain protocol Zilliqa -, and more in each case own 9.9% of the WEG Bank.
Uniting tradition and future with NIMIQ OASIS
Together with crypto project NIMIIQ, TEN 31 developed a fast, secure, and convenient bridge between traditional currencies and cryptocurrencies, called NIMIQ OASIS. The OASIS protocol (Open Asset Swap Interaction Scheme) makes it possible to use off-chain assets programmatically on a blockchain, like tokens. According to Matthias von Hauff, NIMIQ is very interesting for the TEN31 Bank because it is well suited for payment applications. Furthermore, NIMIQ has demonstrated outstanding expertise in programming the necessary interfaces between the bank and the blockchain. All in all, NIMIQ OASIS will massively contribute to achieving the goals of TEN31.
Matthias Von Hauff – speaker at the BLOCKCHANCE Europe 2021 conference
Matthias von Hauff and the TEN31 Bank inspire us by heavily contributing to this new evolving era, which brings them to a position that suits their motto: “always one step ahead”. Therefore, we are delighted to announce TEN31 Bank as our presenting partner and Matthias von Hauff as a speaker at the next conference, December 2-4, 2021! Get your ticket here.