16 ASIAN LEGAL BUSINESS – AUGUST 2023 WWW.LEGALBUSINESSONLINE.COM The legal team at Singaporebased digital asset innovator Cake Group is led by Daniel Lo and comprises three lawyers and seven risk and compliance professionals. Set up in 2022 amid a global crypto crisis, the legal unit spearheaded the launch of two new verticals at Cake Group: Levain, a B2B decentralised finance provider, and Whisk, the company’s investment arm. The legal team oversaw the company’s reorganisation while ensuring minimal business disruptions, demonstrating a deep understanding of corporate structures in Asia’s highly unregulated and deeply scrutinised cryptocurrency market. Despite having only two legal counsels, the unit harnessed cutting-edge technology and legaltech tools, including AI-driven platforms like ChatGPT and contract templating programs, to provide effective legal coverage to Cake Group with short turnaround times. The legal unit successfully registered a Cake entity under Lithuanian law and is in talks with Singapore regulators to obtain appropriate business licenses. The 63-member legal team at Indonesia’s largest technology firm GoTo not only provides pragmatic, tech-forward and innovative legal and regulatory support but has also advised and led negotiations on operational and technical aspects of some of GoTo’s biggest projects. This includes GoTo’s collaboration with PayPal subsidiary PPRO and its digital finance initiative with Bank Jago. COVER STORY ASIA TOP 15 IN-HOUSE TEAMS 2023 With the growing complexity of regulations and legal frameworks across different countries in the region, companies have increasingly turned to their in-house legal teams for guidance and support. In-house lawyers have become more involved in strategic decision-making processes and have adopted a proactive approach to risk management. The annual Asia’s Top 15 In-House Teams list recognises and honours the achievements of legal departments across Asia that truly exemplify the future of legal departments. These teams demonstrate a willingness to embrace change through technology, behaviour, business models, or service innovation to meet the organisation’s needs. LIST BY ASIAN LEGAL BUSINESS, TEXT BY NIMITT DIXIT Image: metamorworks/Shutterstock.com
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