Hong Kong’s HaskKey launches app following regulatory approval

Maxst launches extended reality-based metaverse platformSouth Korean augmented reality (AR) technology firm Maxst has officially launched its spatial AR platform dubbed “Maxverse” on Tuesday (local time). This comes after a series of various field tests and improvements since the platform’s beta launch last year.“Maxverse is a new platform that enables the construction of reality-based metaverses along with extended reality (XR) content creation and distribution,” explained Kang Min-soo, who leads the development of the platform. “We are currently working with several local governments and businesses to develop services that use our platform, and we expect Maxverse to play a significant role in hastening the impending metaverse era.”Photo by julien Tromeur on UnsplashMetaverse as captured on cameraMaxverse, unlike traditional virtual reality-based metaverses, allows users to create metaverse experiences based on the real world as captured on camera. It is equipped with an array of tools including Space SDK, an XR software development kit (SDK) that allows seamless implementation of spatial maps to virtual reality applications; Space+ Maker, where users can author their own XR content; and Space+ Viewer, where they can share their original content on apps and websites to be experienced through AR and VR.The platform leverages three-dimensional reconstruction technology to create spatial maps and a visual positioning system (VPS) to recognize a user’s location. Maxst highlighted that these would become a vital feature in connecting the metaverse and the real world in the future.Maxverse also comes with a Passport social login feature — a Web3 service that allows users to sign in to various services with their Passport account. It makes use of the OAuth 2.0 authorization framework and the OpenID Connect protocol to simplify the complex authentication and authorization processes, granting developers access to Maxverse’s resources.Anticipation for real-world use casesMaxverse’s purpose is to ultimately let anyone easily create and participate in metaverse spaces. Users can generate their own unique services by locating self-created content assets like images, videos and audio on XR metaverse spaces that closely resemble the real world. Maxst expressed hopes for the platform’s potential to be extensively utilized across a diverse range of industries such as e-commerce, real estate, education and tourism.

Coinbase Signals Interest in UAE BaseIn further evidence of a contrast in progression relative to the approach taken to digital assets in the United States versus other world regions, US crypto exchange Coinbase is understood to be considering the United Arab Emirates (UAE) as a potential strategic hub for the company.Photo by Aleksandar Pasaric on PexelsCause and effectA number of weeks ago, while Gary Gensler of the Securities of Exchange Commission (SEC) was facing a grilling in a House Financial Services Committee hearing on Capitol Hill in Washington, Brian Armstrong of Coinbase put out a statement saying that if the regulatory approach to crypto in the United States didn’t change, then the company would choose to locate itself elsewhere.It hasn’t taken Armstrong long to act on that intention. Late last month, the digital assets platform took its first step outside the United States by securing a license to operate in Bermuda. In line with Armstrong’s earlier comments, the move was seen as a strategic action taken by the company to expand its operations on a global basis.Armstrong had warned that unless regulators in the US provided complete regulatory clarity in relation to the activities of cryptocurrency firms, then the innovation would quickly develop in offshore havens. Alongside the announcement of the license to trade in Bermuda, a blog article was published which indicated that the company was also in discussion with regulators in Abu Dhabi in the UAE with a view towards potentially obtaining a license to operate there.Blog articleFast forward to Sunday, with the publication of yet another blog article by the company, and it seems that the company is hinting at a much stronger likelihood of establishing a UAE base. The article outlines that over the course of the next week, the Coinbase founder and CEO and the company’s executive team are in the UAE to participate in a round of meetings with regulators, industry partners, policymakers, clients and web3/crypto founders.The article outlines that Armstrong would give a keynote at the Dubai Fintech Summit, while elaborating that “the region has the potential to be a strategic hub for Coinbase, amplifying our efforts across the world.” In a recent interview with Bloomberg TV, the Coinbase CEO said that “we are looking for a home to set up an international hub that could serve the long tail of countries in the world.”At the Dubai Fintech Summit on Monday, Armstrong stated that the UAE “is leading the way regionally in crypto” and that it could be a potential international hub. He added: “I would say that the UAE’s approach has been more forward thinking than the US.”UAE crypto aspirationsThere’s no doubt that the UAE is trying to develop itself as a center for crypto and digital asset innovation. The country’s Prime Minister has said as much, declaring his intention to establish the Middle Eastern nation as a key player in the future of crypto. Both the Emirates of Dubai and Abu Dhabi have been proactive in working towards a digital asset regulatory framework, complete with a crypto licensing program in recent months.

AIITONE Launches PoC Platform for Security Token Projects in South KoreaAIITONE, an augmented reality firm in South Korea, announced today its launch of a proof-of-concept (PoC) platform aimed at facilitating the security token projects of securities and financial companies.Photo by Shubham’s Web3 on UnsplashTechnological validation for STO projectsAIITONE’s security token offering (STO) PoC platform serves to conceptually validate technological aspects before the implementation of specific projects. This solution validates business concepts by enabling a systematic connection among various entities, including security token issuers, account management institutions (issuance intermediaries), the total supply management institution (the Korea Securities Depository), investors, securities companies, over-the-counter (OTC) brokerages, and financial companies.Through this platform, AIITONE’s clients will have the capability to conduct PoC studies for both primary and secondary markets. Businesses with an interest in security token operations can test in advance the entire lifecycle of an STO. This encompasses activities such as security token assessment, subscription, allocation, issuance, distribution, and eventual burn. Assessing technical requirements prior to embarking on a security token project is expected to not only save time but also mitigate risks.Versatile support for industry playersAccording to an AIITONE official, the firm’s STO PoC platform is highly effective, considering it offers a wide range of support, spanning from security token product planning to networking assistance for platform and infrastructure development. The official also expressed their expectations that the platform’s versatility is poised to attract many securities and financial companies as potential customers.Meanwhile, AIITONE aims to offer a comprehensive STO solution encompassing a range of features, such as STO PoC consulting, industry trend assessment, and risk management capabilities.