The Responsible Fintech Institute (RFI), a newly established global nonprofit based in Singapore, has officially launched with the mission to integrate traditional and decentralised financial systems. Announced at the Digital Assets Summit 2025, RFI signed a Memorandum of Understanding with the Digital Assets Association to formalise their collaboration.
RFI’s founding members include Bison Group, OKG Technology, Remi Technology, VerifyVASP, and SlowMist. This coalition aims to develop digital utilities and foster collaboration among financial institutions, regulators, technology firms, and academia. “We are proud to stand with our founding members who share our vision for a more responsible and secure digital financial future,” said Chia Hock Lai, Chairman of RFI.
The institute’s first major initiative, the Verified Identity Trust Alliance (VITA), will help companies verify customer identities and comply with regulations such as Know Your Customer (KYC). VITA aims to increase trust and safety by providing a shared stamp of approval for digital wallets, reducing redundant checks, and protecting user privacy.
Bison Bank’s Chairman, Bian Fang, emphasised the importance of leveraging technology for a secure financial system, whilst OKG Technology’s CEO, Jeffery Ren, highlighted the need to balance innovation with responsibility. Remi Technology’s CEO, Sam Su, and VerifyVASP’s CEO, Shihyun Chia, also expressed their commitment to establishing standards and safeguards for digital finance.
RFI is poised to play a central role in shaping the future of finance, ensuring that digital innovation is built on trust and accountability.
