Philippines breaks new ground in first-ever tokenized bonds sale

RaonSecure showcases blockchain-based SaaS to student ID card associationRaonSecure, a South Korean tech security company, recently showcased their blockchain-based Software as a Service (SaaS) solution, OmniOne Digital ID, to executives from the International Student Identity Card (ISIC) Association during their visit to RaonSecure’s headquarters in Seoul, as per a report by news outlet Digital Today. The tech firm also proposed a mobile ID project catered to ISIC.Photo by Matese Fields on Unsplash2.5 million student ID cards per yearThe ISIC Association, a non-profit organization registered in Denmark, is renowned for issuing approximately 2.5 million student identity cards each year. These cards are recognized and accepted in 108 countries globally.Various discount programsISIC card holders have access to an extensive range of discount programs at ISIC’s partner merchants. These discounts span a wide variety of industries, offering savings in areas such as accommodation, cultural attractions and travel. This feature of the ISIC card makes it a beneficial resource for students worldwide who are looking to save money while accessing various services and experiences.In October, RaonSecure signed a business partnership with two organizations to develop digital ID-based ISIC on mobile platforms. One of them is KISES Corporation, the Korean branch of ISIC, and the other is smart card service provider Future & More.

Japanese Financial Giant SBI Extends Use of Ripple’s Remittance TechSBI Remit Co., Ltd., a prominent player in the international money transfer sector and a subsidiary of Japanese financial services conglomerate SBI Group, has unveiled a significant expansion of its collaboration with Ripple in Asia.Photo by Kanchanara on UnsplashPhilippines, Vietnam, and IndonesiaThe strategic alliance between the two companies will enable international remittance services utilizing Ripple’s XRP cryptocurrency as a bridge currency, connecting bank accounts in the Philippines, Vietnam, and Indonesia.The partnership, announced via a statement published to SBI’s website on Wednesday, builds upon SBI Remit’s history of utilizing Ripple Payments for its international remittance services, which dates back to 2017. The company has been a pioneer in Japan, leading the way in offering an international remittance service that leverages XRP as a bridge currency between two sovereign currencies.This latest move underscores SBI Remit’s interest in furthering its exploration and use of XRP-based remittances. In 2021, it introduced a service targeting digital wallets in the Philippines, marking a milestone in using XRP for international remittances in Japan.Simplifying international remittancesThe newly introduced scheme aims to simplify the international remittance process significantly. The process involves SBI Remit initiating a customer’s remittance request, followed by SBI VC Trade facilitating real-time XRP transfers in response to the request. This dynamic approach has been made feasible through a strategic partnership with Tranglo Pte. Ltd., a long-standing Ripple partner. It ensures that customers receive their remittances in their respective local sovereign currencies.SBI emphasized the advantages of using XRP as a bridge currency, highlighting its ability to enable fast and cost-effective money transfers. XRP also boasts excellent scalability, allowing users to seamlessly send funds to Ripple’s global partners. SBI believes that this will enhance its competitiveness in the international remittance sector.Targeting important remittance marketsThe decision to target the Philippines, Vietnam, and Indonesia was not arbitrary. These countries have a substantial share of remittances channeled into bank accounts, making them ideal candidates for XRP adoption. SBI Remit anticipates that the introduction of the XRP-based remittance service will further accelerate cryptocurrency adoption in these nations.Yoshitaka Kitao, chairman and CEO of SBI Holdings, expressed the company’s commitment to transforming international remittance services. The press release also conveyed SBI Remit’s dedication to extending its reach beyond the initial three Asian countries. At the time of publication, XRP was trading at $0.5022.The significance of the announcement was not lost on retail investors with an ongoing interest in XRP. Taking to X (formerly Twitter) one wrote:“Everyone who says Ripple does not utilize XRP, and that nobody uses XRP is WRONG.”At Paris Blockchain Week earlier this year, Monica Long, President of Ripple, stated: “The past couple of years have been a real tipping point for institutional DeFi, where even the biggest of banks are embracing this technology as the future, and they have to adapt or die.” That statement is relevant when this latest expansion of the Ripple/SBI partnership is considered.SBI Remit’s expanded partnership with Ripple marks a significant step in the evolution of international remittance services. By harnessing the power of XRP as a bridge currency, SBI Remit aims to revolutionize cross-border transactions while targeting countries with substantial remittance markets.

LINE NEXT scores biggest Web3 investment in Asia of 2023LINE NEXT, the NFT business arm of Tokyo-based Internet giant LINE Corporation, has secured a $140 million investment from a consortium led by Seoul-based private equity firm Crescendo Equity Partners, according to an official press release on Wednesday (KST). This is the largest investment in the Asian blockchain and Web3 industry this year.Photo by Precondo CA on Unsplash“LINE’s global competitiveness and its vision to lead Web3 services were the investment thesis,” said Kevin Lee, Managing Partner at Crescendo. “We hope to build a standard for Web3 apps that general users can easily use and adopt blockchain to all sorts of services and brands of Web2.”Ambitious roadmapLINE NEXT plans to use the funds to popularize Web3 by expanding its global platform and developing new services. This includes the official launch of DOSI, a global mobile NFT marketplace app for trading digital products, which will be integrated with LINE’s Japanese NFT marketplace LINE NFT. The launch is scheduled for January next year.The firm will also enable Web2 services and brands to easily adopt Web3 technology by providing new solutions that allow them to directly own and trade digital products.To further promote the widespread adoption of Web3 technology, LINE NEXT plans to create an app that utilizes AI technology to facilitate communication between users via characters they create themselves, as well as a new Web3 game featuring iconic LINE characters. These services will be developed on the public blockchain Finschia.LINE NEXT and Crescendo will also participate as governance council members of the Finschia Foundation and contribute to the expansion of the ecosystem.Strategic investmentKo Young-su, CEO of LINE NEXT, pointed out that such a large-scale investment is a major step considering the global investment environment has recently been shrinking. “We plan to use this opportunity to further popularize Web3 and develop a new service ecosystem where users own the value of their digital goods,” he said.Sponsored by Peter Thiel — the co-founder of Paypal, Palantir Technologies and Founders Fund — Crescendo is dedicated to discovering and investing in promising technology companies both in South Korea and overseas.