Hong Kong’s HaskKey launches app following regulatory approval

CME Group Expands Crypto Reference Rates to Asian MarketsUS derivatives marketplace CME Group is making strides in its efforts to cater to the Asian cryptocurrency market. In collaboration with crypto indices provider CF Benchmarks, the company is set to launch new reference rates for Bitcoin (BTC) and Ether (ETH) aimed specifically at the Asia Pacific (APAC) region.Photo by Pierre Borthiry — Peiobty on UnsplashGoing live next monthThat’s according to a press release published by the company on Wednesday. These new rates, the CME CF Bitcoin Reference Rate APAC and CME CF Ether-Dollar Reference Rate APAC, are scheduled to become available on September 11, according to a joint announcement.This move comes in response to the growing demand from Asian investors and institutions for accurate pricing data during their local trading hours. Currently, a substantial portion of CME Group’s crypto volume, about 37%, occurs outside of US trading hours, with approximately 11% of trades originating from the APAC region. The new reference rates will be published daily at 4 p.m. Hong Kong time, allowing APAC-based participants to align their crypto price risk management more closely with their portfolio strategies.Building upon past effortsCME Group’s efforts to provide accurate and timely reference rates have been ongoing. The company initially introduced its Bitcoin Reference Rate (BRR) in 2016, followed by the Ether Reference Rate in 2018. The BRR calculates the US dollar price of one Bitcoin as of 4 p.m. London time. It leverages the trade flow data from major Bitcoin spot exchanges within a one-hour window to provide an average of volume-weighted medians across 12 five-minute intervals during that period.Notably, the newly announced Asia-focused reference rates will provide a variant to the existing rates tailored for London and New York. Giovanni Vicioso, CME Group’s Global Head of Cryptocurrency Products, emphasized that these APAC reference rates will facilitate more precise risk management for institutional clients utilizing Bitcoin and Ether futures products in their active portfolios or structured products like ETFs.Focusing on AsiaCME Group’s expansion into the APAC region aligns with a broader trend of institutional interest in cryptocurrencies in Asia. The region has seen regulatory developments aimed at providing clarity to crypto businesses over the course of the past twelve months while a lack of regulatory clarity currently prevails in the United States. This move also coincides with the company’s push to further engage with the global crypto derivatives market, which accounts for around 75% of the overall crypto trading volume.CME’s decision to launch Asia-focused reference rates is a strategic move to tap into the growing interest in cryptocurrencies from the Asia Pacific region. By offering accurate pricing information during APAC trading hours, the company aims to provide institutions and investors with better tools to manage their cryptocurrency price risks effectively. From the perspective of crypto market participants more broadly, the move is encouraging given that it comes from the world leader in derivatives markets.

Assemble Protocol’s Native Token Now Supported by Ceffu’s Custody SolutionAssemble Protocol, a blockchain-based global point integration platform headquartered in Hong Kong, has announced a partnership with Ceffu, previously known as Binance Custody, according to South Korean blockchain news outlet Bonmedia.Ceffu serves as the sole institutional custody partner of Binance Exchange, the world’s largest cryptocurrency exchange based on trading volume. It started as a custodian platform in 2021 and underwent a rebranding from Binance Custody to Ceffu in February. Ceffu offers support for a diverse range of digital assets, including BTC, ETH, BNB, LTC, and XRP.Photo by rc.xyz NFT gallery on Unsplash$1M minimum depositThrough this collaboration, ASM, the native token of Assemble Protocol, has been included in the list of Ceffu’s supported assets, enabling ASM holders to securely store their tokens in the custodian’s cold storage. The custody service imposes a minimum deposit requirement of $1 million worth of digital assets.Reward points to ASM tokenAssemble Protocol offers users the ability to unify their reward points obtained from various debit and credit cards into ASM. By integrating these scattered rewards, users can conveniently manage and utilize their points through a unified digital currency. The platform also rewards participants within its ecosystem with tokens based on their contributions. The more participants contribute, the greater their rewards. Moreover, advertisers can pay fees to Assemble Protocol to promote their products within the ecosystem.Park Kyu-do, CEO of Assemble Protocol, expressed his appreciation for Ceffu’s support of ASM, emphasizing the security and transparency it offers for storing assets. Park also mentioned that the collaboration with the Binance ecosystem will lead to further expansion of the protocol.Meanwhile, Assemble Protocol plans to launch mobile and desktop versions of Assemble 2.0 later this year.

Japan’s Financial Services Agency (FSA) is moving to tighten penalties and enforcement against unregistered cryptocurrency operators, Nada News reported, citing the Nikkei newspaper.Photo by Traxer on UnsplashTo bolster investor protection amid a rise in issues related to highly speculative memecoins, the FSA plans to submit legislative amendments to an upcoming extraordinary Diet session. The revisions will transfer crypto asset regulations from the Payment Services Act to the Financial Instruments and Exchange Act.  Under the new framework, criminal penalties for operating an unregistered crypto exchange or soliciting over-the-counter derivatives will increase dramatically. Offenders will face up to 10 years in prison or fines of up to 10 million yen ($63,000), or both, marking a sharp increase from the current maximum penalties of three years’ imprisonment or 3 million yen in fines. Regulatory oversight will also expand. The Securities and Exchange Surveillance Commission will gain the authority to pursue criminal investigations—allowing for on-site inspections and evidence seizures—replacing the current reliance on warning letters and civil injunctions. Additionally, the official legal designation for compliant businesses will change from “cryptoasset exchange service providers” to “cryptoasset trading service providers.” Binance to launch Japan equities USDT perpWhile Japanese regulators focus on ring-fencing domestic investors from unregulated digital assets, global crypto platforms are expanding their offerings tied to the country's traditional financial markets. Illustrating this trend, Binance announced it will launch a USDⓈ-M perpetual contract for EWJUSDT, which tracks the iShares MSCI Japan ETF, on March 19 at 13:30 UTC. The BlackRock-managed ETF provides exposure to large- and mid-cap Japanese equities. This blurring of the lines between traditional Japanese equities and crypto derivatives underscores a wider transformation within the digital asset ecosystem. Beyond trading, blockchain-based assets are increasingly serving as core financial infrastructure, a trend reflected in the growth of the stablecoin sector. Stablecoin market hits $300BAccording to an XWIN Research Japan post on CryptoQuant, on-chain data shows active addresses using ERC-20 stablecoins are surging. Backed by a roughly $300 billion market capitalization dominated by USDT and USDC, stablecoins are gaining ground as a foundational layer of the global economy. XWIN Research Japan outlined how these assets are tailored to distinct regional needs: functioning as digital dollars in high-inflation economies like Nigeria, facilitating remittances in India and the Philippines, and providing institutional liquidity in the U.S.  Supported by its own shifting regulatory landscape, Japan is also gaining traction in this stablecoin space. Yen-pegged stablecoins like JPYC are emerging as practical payment tools designed to bridge traditional Japanese finance with global blockchain networks. JPYC Inc., the issuer of the JPYC stablecoin, recently raised 1.78 billion yen ($11.9 million) in Series B funding led by Asteria and partnered with LINE NEXT to integrate its stablecoin into a wallet based on the LINE Messenger platform.