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Singapore Deployment Event: BlockDAG's Proof Over Magacoin Finance and BlockchainFX in 2025

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  Published in Business and Finance on Tuesday, September 16th 2025 at 18:24 GMT by Impacts
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Singapore Launches BlockDags’ Ground‑Breaking Proof‑of‑Concept with Magacoin Finance & BlockchainFX in 2025

In an event that drew some of the brightest minds in fintech, the Singaporean capital hosted the first live deployment of BlockDags’ new Directed Acyclic Graph (DAG) architecture, demonstrating its practical integration with two of the region’s most promising blockchain‑based financial platforms: Magacoin Finance and BlockchainFX. The three‑hour showcase, held at the Marina Bay Sands Convention Centre on March 14, 2025, highlighted how the DAG‑based solution can accelerate cross‑border settlement, slash transaction costs, and unlock a new generation of decentralized finance (DeFi) tools.

What Is BlockDags?

BlockDags, founded in 2022 by former engineers from ConsenSys and Ethereum Foundation, has positioned itself as the “next‑gen blockchain layer” that marries the immutability of traditional ledgers with the speed and scalability of DAG systems. Unlike classic blockchains that wait for a fixed block interval, DAG structures allow multiple transactions to be validated concurrently, producing near‑real‑time confirmations. According to BlockDags CEO, Dr. Ravi Singh, “Our DAG protocol eliminates bottlenecks that plague Bitcoin and Ethereum, enabling micro‑transactions and instant swaps without sacrificing security.”

The company released its “Proof‑of‑Concept” (PoC) at a public event in Singapore, showcasing a live demonstration that used a testnet of BlockDags to execute instant swaps between the digital asset of Magacoin Finance and the FX pair offered by BlockchainFX. The PoC also featured a “smart‑contract‑on‑DAG” framework that automatically reconciles cross‑chain balances, a feature highlighted in BlockDags’ technical whitepaper linked in the event’s official press release.

Magacoin Finance: DeFi Meets Traditional Banking

Magacoin Finance, the DeFi platform that raised $35 million in Series B funding in early 2024, is known for its “Yield‑Boost” vaults that allow users to earn returns by supplying liquidity to liquidity‑pool protocols. The platform also offers a “Magacoin‑Stable” asset that tracks the Singapore Dollar, making it an attractive tool for retail and institutional investors seeking exposure to the region’s financial markets without the volatility typical of crypto assets.

During the event, Magacoin’s CTO, Lisa Tan, showcased a live “magacoin‑swap” on the BlockDags PoC. The demonstration involved swapping 1,000 Magacoin‑Stable for an equivalent amount of BlockchainFX’s Singapore Dollar‑backed token (SGB). In under 30 seconds, the transaction was confirmed on both the DAG ledger and the respective blockchains, with no network fees beyond a negligible gas cost. Tan noted, “The speed and zero‑cost nature of the swap underscores how DAG can become a backbone for DeFi protocols that target everyday users.”

The partnership also extends to a joint research project on “Liquidity‑Provisioning in a DAG‑Based Ecosystem,” scheduled to be published in a forthcoming issue of the Journal of Decentralized Finance. The research will analyze the efficiency gains in liquidity aggregation when using a DAG architecture versus a traditional block structure.

BlockchainFX: Bridging Digital and Traditional FX

BlockchainFX, a fintech startup founded by former Goldman Sachs FX traders, has positioned itself as a “crypto‑centric FX marketplace.” Its platform allows retail traders to swap fiat currencies against crypto pairs with a focus on low slippage and high transparency. In the 2025 PoC, BlockchainFX’s chief technology officer, Michael O’Connor, ran a “SGB‑USD” swap that leveraged the BlockDags protocol to settle the transaction instantly across its proprietary FX ledger.

O’Connor said, “We’ve always wanted a way to reduce the lag between receiving fiat and delivering crypto, especially for institutional clients. The BlockDags PoC shows that a DAG network can reduce settlement times from minutes to seconds, which is a game‑changer for high‑frequency trading.”

The demonstration also illustrated how BlockchainFX can use the DAG for “cross‑chain arbitrage.” A trader can identify a price discrepancy between the SGB‑USD pair on BlockchainFX and the Magacoin‑Stable pair on Magacoin Finance. The DAG network instantly routes the arbitrage trade, automatically balancing both sides and providing real‑time profit calculations—features that were previously unfeasible on slower blockchains.

Regulatory Context and MAS Support

The event took place amid the Monetary Authority of Singapore’s (MAS) “Blockchain and Crypto Asset Framework” announcement earlier in the year. MAS has been actively encouraging “RegTech‑friendly” solutions that can streamline compliance reporting and KYC verification. Dr. Singh highlighted how BlockDags’ architecture incorporates “on‑chain audit trails” that can be seamlessly integrated into regulatory reporting modules. “Our protocol can be audited in real time by any regulator, providing complete transparency and eliminating the need for post‑transaction audits,” he added.

The MAS also announced a pilot program that will allow certain fintech firms to test new blockchain technologies in a sandbox environment. BlockDags’ PoC was one of the first projects to qualify, as the company has already partnered with the Singapore Institute of Technology to conduct academic research on the feasibility of DAG‑based settlements.

Looking Forward: Commercialization and Scaling

Following the successful demonstration, BlockDags announced a roadmap to roll out the full production version of its DAG network in Q4 2025. The company plans to provide an SDK that will enable developers to integrate DAG capabilities into existing DeFi protocols with minimal code changes. Additionally, a new “Inter‑DAG Bridge” will allow for cross‑network token swaps, opening the door for multi‑chain liquidity aggregation.

Magacoin Finance has also revealed its intention to list Magacoin‑Stable on BlockchainFX’s platform, with the two parties planning a joint “Liquidity‑Mining” campaign that rewards users who provide cross‑chain liquidity between the two networks. The partnership aims to attract at least 500,000 users by the end of 2026.

Meanwhile, BlockchainFX’s CEO, Elena Park, indicated that the company is exploring a partnership with a Singaporean retail bank to offer “crypto‑fiat dual‑wallets” that settle instantly via BlockDags. “The promise of instant settlement and reduced fees will be a major selling point for traditional bank customers who have been hesitant to dive into crypto markets,” Park explained.

Takeaway

The Singapore deployment event showcased the potential of DAG technology to revolutionize how digital assets are swapped, settled, and regulated. By demonstrating real‑time, low‑cost cross‑chain swaps between Magacoin Finance’s DeFi vaults and BlockchainFX’s FX marketplace, BlockDags proved that DAG could be the missing link between traditional finance and the emerging decentralized ecosystem. With MAS backing, academic partnerships, and a clear commercialization roadmap, the next few years promise a rapid shift from block‑centric to DAG‑centric financial infrastructure in Southeast Asia and beyond.