Insights from the Web3 Compliance and Trust Summit in Singapore

Web3 Compliance and Trust Summit Overview

On October 1, 2025, Singapore hosted a significant event in the blockchain and digital asset space—the Web3 Compliance and Trust Summit, organized by Cregis and Sumsub. This summit aimed to foster discussions around compliance and trust in the emerging Web3 landscape, bringing together experts from various sectors including banking, payments, and the ever-evolving crypto industry.

Opening Remarks

The event commenced with an insightful joint presentation from Cregis COO Jason Ma and Sumsub's Ying Li. Both leaders elaborated on the core competencies of their respective companies, emphasizing the growing importance of compliance and identity verification in Web3. Jason Ma discussed the effectiveness of Multi-Party Computation (MPC) technology, noting that it significantly mitigates security risks related to asset management. He reinforced that Cregis currently oversees assets worth hundreds of billions of dollars, offering integrated wallet and payment solutions to over 3,500 enterprises worldwide.

Ying Li followed with a captivating overview of Sumsub’s extensive identity verification services used by more than 4,000 clients, including prominent firms like Bybit and Huobi. She underscored the crucial role these services play in helping businesses navigate compliance challenges across different jurisdictions.

Engaging Discussions and Interactive Sessions

The summit featured interactive Q&A sessions with valuable rewards for participants, fostering vibrant engagement. A highlight of the event was the panel discussion titled "Web3 Trust Stack: Identity, Compliance, and Infrastructure in Action," expertly moderated by Eelee Lua, Chief of Staff at xcube.co. This panel gathered top industry professionals who delved into essentials of trust-building within Web3 and how compliance frameworks are evolving.

Challenges in Compliance and Resource Management

Eric Cheung, Business Development Director at Cregis for the APAC region, tackled the pressing challenges that enterprises face in compliance. He highlighted that limited resources necessitate a reevaluation of strategic priorities. In a landscape where compliance regulations are intensifying, companies must decide on critical capabilities to develop internally versus areas better suited for collaboration with specialized service providers. He stated, "Partners with compliance experience and business insights don’t just provide services—they bring vital industry knowledge and resources for mutual success."

Cheung emphasized that identity verification is becoming a foundational aspect for all Web3 projects, underlining that various compliance aspects such as Anti-Money Laundering (AML), tax obligations, and regulatory guidelines all center on one question: the identity of the user. As regulations mature, the anonymity of transactions will likely diminish, making real-name verification a necessity.

Balancing Regulation with Innovation

The Head of Strategy and Operations at Interlace, Henry Chan, discussed ways in which companies can balance compliance requirements with innovation. He acknowledged the regulatory hurdles facing many enterprises but asserted that technology could help manage compliance costs. By breaking down trust-building into specific topics, Chan encouraged dialogue on enhancing confidence with end users, markets, institutions, and governmental bodies.

Addressing Emerging Fraud and User Experience

Penny Chai, Sumsub’s APAC VP of Business Development, identified new fraud threats such as deepfake technology and synthetic fraud, emphasizing their insidious nature as they blend genuine personal data with fabricated information, complicating detection efforts. She also addressed the pressure on enterprises due to cumbersome compliance requirements, which frustrate users who constantly face KYC (Know Your Customer) re-verification requests.

In response to these issues, Sumsub unveiled reusable KYC solutions, allowing users to undergo one verification for multiple platforms, thereby reducing compliance costs and improving user experience. Chai optimistically remarked, "Regulation isn't an obstacle; it's a guide for innovation. Understanding the rules helps us unleash our creative potential."

Future Collaborations and Industry Outlook

As the summit drew to a close, there was unanimous agreement among participants that identity verification is now a standard necessity for Web3 initiatives. Both Cregis and Sumsub expressed a commitment to continuing their collaboration to enhance their product integrations, aiming to offer comprehensive services from identity verification to asset management for Web3 enterprises.

Cregis is dedicated to empowering clients with secure, compliant digital asset solutions, advocating for a swift and efficient transition into the Web3 ecosystem, while unlocking new opportunities for growth in digital assets. The summit certainly set the stage for future discussions and collaborations in this revolutionary field.