NuriFlex Holdings partners with Catalyx Exchange to explore security tokens and RWAs

K-Pop NFT Platform MetaBeat’s Token Listed on UniSwap v3MetaBeat, a non-fungible token (NFT) platform based in Seoul and catering to K-pop fans, announced that its BEAT token is listed on Uniswap v3, one of the most popular decentralized cryptocurrency exchanges.©Pexels/Josh SorensonBEAT/USDC on UniswapBy introducing the BEAT/USDC liquidity pool on Uniswap v3, MetaBeat aims to increase the popularity of its BEAT tokens.MetaBeat ecosystemThe MetaBeat ecosystem enables music fans to contribute to their community with social media activities. Contributions from fans, along with their artists’ performances, are taken into account when determining the FANomance Index, which is then utilized to appropriately reward fans.Fans can support their favorite artists in three distinct ways: Drops, Mingle, and Shout Out.DropsWithin the MetaBeat platform, Drops indicate NFT sales. MetaBeat creates and sells community NFTs backed by music intellectual property (IP), allowing fans to own or stake them for value sharing. The IP value depends on music consumption, such as album sales and streams.MingleMetaBeat users can stake tokens on an open Mingle, backed by music IP, and obtain rewards based on the Mingle’s FANomance Index.Shout OutThe Shout Out program incentivizes fans who upload their artist-related posts on social media and verify their activities on MetaBeat.KuCoinMeanwhile, it is also worth noting that the BEAT token is tradable on a centralized exchange. In November last year, the global centralized exchange KuCoin began supporting the trading pair of BEAT/USDT.

Binance Behind New Hong Kong Crypto Exchange Pursuing LicenseThe launch of a crypto exchange named HKVAEX in Hong Kong has raised eyebrows as it appears to be closely connected to the global cryptocurrency giant, Binance.Photo by Florian Wehde on UnsplashResource sharingWhile the two entities do not officially acknowledge any affiliation, they share resources and have some commonalities that suggest a deeper connection, according to a report published by the South China Morning Post (SCMP) on Wednesday.HKVAEX was established in Hong Kong as an independent entity under BX Services Limited. Despite the absence of shared names, official affiliations, or public statements, several clues point to a connection. The logos of Binance and HKVAEX bear a resemblance, and Binance’s official accounts, as well as CEO Changpeng Zhao (CZ), are among HKVAEX’s followers on social media platform X (formerly Twitter).Gaining a foothold in Hong KongIt’s worth noting that Binance’s services are not available in Hong Kong, which raises questions about the motivation behind establishing an independent entity within the city. While HKVAEX appears to be actively pursuing a virtual asset license in Hong Kong, Binance has been relatively silent about its own licensing plans within the Chinese autonomous territory. This move could potentially provide Binance with a strategic foothold in a market that is becoming increasingly significant for digital asset entities.Hong Kong has recently introduced a licensing scheme for digital asset entities, and this development has spurred enthusiasm among such entities to establish operations in the region. Alvin Kan, the Head of Asia at Sei Labs, has noted that Asia is poised to become a major expansion zone for the Web3 sector, with regulatory developments in the US creating opportunities for expansion beyond American borders.Stanley Fung, who currently heads up HKVAEX, previously served as the chief of Huobi’s Hong Kong operations until November 2022, according to his LinkedIn profile. His departure from Huobi coincided with the entrance of crypto entrepreneur Justin Sun into Huobi’s management.In a company-managed Telegram group, HKVAEX has emphasized its status as an “independent crypto exchange” in Hong Kong, separate from Binance. However, it also revealed that it sources liquidity from Binance. Despite asserting its independence and having its own technical team, there have been instances of collaboration between the two entities in Hong Kong, such as a promotional campaign where Binance was referred to as a “partner” in incentivizing the opening of an HKVAEX account.Changing strategyBinance has faced a series of regulatory challenges in recent times. In May, Binance exited the Canadian market due to new regulations related to stablecoins and restrictions on crypto exchanges. In the US, the two leading regulators have filed lawsuits against Binance, CZ, and related entities, leading to the departure of several top officials from the company.The leading global exchange appears to be pursuing a different strategy more recently. It has entered the Japanese and Thai markets through the acquisition of a local entity and a joint venture with a local company. While forced out of the Netherlands, its Dutch customers were moved to rival Coinmerce, which connects to the Binance trading engine and order books.The evolving regulatory landscape is reshaping the cryptocurrency industry, and the relationship between Binance and HKVAEX highlights the complexities and strategies adopted by major players in this evolving space.

When Samsung Securities surveyed its high-net-worth clients about which investment assets they believed would be most effective for wealth growth in the future, only a small fraction, 1.9%, pointed to virtual assets, as reported by South Korean news outlet Newsis. The majority favored domestic and foreign stocks, which garnered a significant 45.4% of the vote. Following this, domestic and foreign bonds were chosen by 18.1% of respondents, and real assets like real estate and gold were also considered favorable, with 16.8% backing these options.Photo by Lukas on PexelsInvestment preferences of high-net-worth clientsThe survey conducted by Samsung Securities involved a select group of 368 participants, each with assets totaling KRW 3 billion ($2.3 million) or more. It focused on their perspectives regarding this year’s stock market trends and their individual investment strategies. This specific demographic provided insights into the investment preferences and outlooks of high-net-worth individuals. In the survey, when these individuals were queried about the methods they’ve used to accumulate their wealth, the most prevalent answer was investment in financial instruments such as stocks and funds, with 35.9% indicating this as their primary method. Business income was the second most common source of wealth, cited by 29.9% of participants. Wage income was also a significant contributor, mentioned by 19.6%. Additionally, gifts and inheritance played a role, accounting for 7.1% of wealth growth. Meanwhile, real estate investments were the least common, with only 6.5% of the respondents identifying it as a key wealth growth strategy. Regarding the optimal timing for stock purchases this year, a notable portion of the investors expressed a preference for the beginning of the year, with many pinpointing the first quarter as the ideal time, as indicated by 51.6% of respondents. This preference was followed by the second quarter, favored by 27.7%, the third quarter at 13.6% and the fourth quarter being least favored with only 7.1%. In terms of promising industries for investment, over half of the respondents, 50.6%, identified artificial intelligence (AI) and semiconductors as the most prospective sectors. These technologies are viewed as pivotal in shaping the future of the tech industry. Following AI and semiconductors, rechargeable batteries, which were the top-performing segment in the previous year, garnered notable interest, with 16.7% of respondents favoring them. The survey identified key figures likely to impact the stock market this year: former U.S. President Trump (30.4%), U.S. Federal Reserve Chair Powell (15.8%), U.S. President Biden (7.1%) and Saudi Prime Minister Mohammed bin Salman (3.3%). Business leaders like Tesla’s Elon Musk (6.0%), OpenAI’s Sam Altman (5.4%) and Novo Nordisk’s Lars Fruergaard Jorgensen (2.4%) were also mentioned for their influence. When asked about the most important issue of the financial market for the new year, 51.1% pointed to “interest rate cuts in major economies” as their top concern. Following this, 15.2% highlighted the outcome of the U.S. presidential election as a significant issue. Additionally, the advancement of new industries such as AI and robotics was flagged as an important topic by 10.3% of those surveyed. Stock market experts’ crypto optimismIn contrast, a 2024 stock market outlook survey by local media outlet Money Today, which polled 225 stock market experts, showed a more optimistic stance towards investing in cryptocurrencies this year. When questioned about their willingness to invest in crypto assets like bitcoin, 20% responded very affirmatively, and an additional 34.2% expressed a similar interest, totaling over half of the respondents showing readiness to invest in cryptocurrencies. Meanwhile, 18.7% were unsure, and 27.1% had negative views, including 16.4% saying “no” and 10.7% opting for “strongly no”. In the newspaper survey, when specifically asked about bitcoin’s future value, 24.9%, the largest group of respondents for this question, predicted that bitcoin’s price would reach or exceed KRW 70 million, the highest estimate provided in the survey’s options. Meanwhile, 17.8% of the experts estimated that the price would range between KRW 60 million and 70 million.