Korean Blockchain Experts Suggest Tackling Everyday Challenges with Blockchain Adoption

HashKey Group, the operator of one of Hong Kong's two licensed crypto exchanges, declared its newfound unicorn status on Tuesday, having successfully raised nearly $100 million in a recent funding round.Photo by Markus Winkler on UnsplashSeries A funding roundThe term "unicorn" denotes privately held companies valued at $1 billion or more, reflecting the remarkable achievement for HashKey in the rapidly evolving crypto landscape. With a valuation now surpassing $1.2 billion, HashKey positions itself as a major player in the crypto space within East and Southeast Asia. It’s leveraging its activities that span trading platforms, venture funding, wealth management and asset management in key locations like Hong Kong and Singapore. Its Singapore arm was awarded a capital markets license by the local regulator in December. Undisclosed investorsThe fundraising initiative was first reported in May of last year and later announced by HashKey in August. It attracted contributions from both existing and new investors. While the company refrained from divulging specific investor names, it referred to them as "prominent institutional investors" and "leading Web3 institutions," signaling a mix of established entities and those already at the forefront of Web3 innovation. It was previously disclosed that the company has been backed by the support of OKX Ventures, the investment arm of the well-known OKX digital asset exchange. The funds secured will serve a dual purpose – fostering the development of a robust Web3 ecosystem and supporting licensed products in Hong Kong. HashKey's diverse business arms, including asset management, a blockchain node validation service, a tokenization service, and a Web3 incubation arm, are set to benefit from the fresh capital infusion. The allocation of funds towards these ventures aligns with HashKey's strategic vision to contribute significantly to the evolving crypto ecosystem. Hong Kong hubHong Kong, eager to establish itself as a digital asset hub, has been the backdrop for HashKey's growth. The city's dedicated virtual-asset regulatory framework, introduced in June, aims to attract companies while prioritizing investor protection. Under this framework, retail investors can trade major tokens such as Bitcoin and Ether on licensed exchanges, with HashKey Exchange and BC Technology Group Ltd.’s OSL currently leading the way. Despite the optimism surrounding Hong Kong's potential as a crypto hub, uncertainties linger. The city's ability to support multiple crypto exchanges and the long-term commitment of officials to the sector remain open questions, given its susceptibility to occasional scandals. Since commencing its retail trading service in late August, HashKey Exchange has garnered over 155,000 registered users. The platform's 24-hour spot trading volume is estimated at approximately $11 million, according to CoinMarketCap data as of this writing. While this figure may pale in comparison to Binance, the world's largest crypto platform, HashKey's focus on building a resilient and user-friendly ecosystem positions it as a strong contender in the crypto industry's ongoing evolution. The successful funding round and unicorn status attained by HashKey underscore the renewed optimism in the crypto venture capital landscape. Following a market slump in 2022 and various challenges faced by crypto startups, the recent resurgence in token prices has reignited hopes for a more favorable venture capital outlook.

G20 Nations Believed to Have Agreed Upon Global Crypto FrameworkUnder India’s current leadership of the G20, reports are emerging that participating nations have reached a unanimous consensus on establishing a common framework for cryptocurrency regulation.According to local news sources, this monumental decision has been reached, and it’s expected to take center stage during the 18th G20 Heads of State and Government Summit scheduled for September 9–10 in New Delhi.Photo by Rachit Chaudhary on UnsplashIMF/FSB synthesis paperThe reports published on Wednesday cite information from official sources that the International Monetary Fund (IMF) and the Financial Stability Board (FSB) have collaboratively released a synthesis paper laying the groundwork for this comprehensive regulatory framework. Consequently, discussions around this initiative will likely feature prominently on the agenda during the upcoming leaders’ summit.The unity achieved by G20 nations in forging this global cryptocurrency regulation framework marks a significant milestone in the ever-evolving area of digital assets. The framework’s primary goal is to provide a structured approach to oversee cryptocurrencies, potentially mitigating risks associated with their use, all while fostering innovation within the rapidly expanding crypto sector.Multilateral Development Banks (MDBs)Aside from this development relative to digital assets, multiple working groups have been working on recommendations related to Multilateral Development Banks (MDBs). These groups have proposed measures to confront future financing challenges, and there is growing support for establishing a $200 billion fund to meet financing needs over the next decade.Beyond financial concerns, the G20 nations, under India’s leadership, have embarked on a comprehensive evaluation of the high volatility in food and energy security. Stressing the vital importance of stability in these sectors for sustainable global growth, these issues will take the spotlight during the leaders’ summit later this week.TaxationAnother area where India has made significant strides is international taxation. During India’s G20 Presidency, a pillar taxation system for international taxation has been recommended. The efforts in this domain have been described as making “significant progress” so far, underscoring the commitment of G20 nations to address global taxation challenges.It’s interesting to note that on the home front, India has been far less progressive when it comes to crypto-related taxation. The country has imposed a 30% tax on cryptocurrency transactions. Local crypto exchanges have also pointed to a 1% Tax Deducted at Source (TDS) which is being applied to exchanges as a major challenge that is having an impact on their operations.A threat and an opportunityLate last month, Indian Prime Minister Narendra Modi urged his G20 counterparts to work towards global collaboration in respect of formulating global crypto regulations. On Wednesday India’s Finance Minister, Nirmala Sitharaman, confirmed that active discussions were underway as part of India’s G20 presidency. At an event in India’s financial capital of Mumbai, Sitharaman stated:”India’s [G20] presidency has put on the table key issues related to regulating or understanding that there should be a framework for handling issues related to crypto assets.” While confirming that G20 members were working toward establishing a global crypto framework, Sitharaman also remarked that crypto was a “threat as well as an opportunity.”

Singapore’s DBS Bank has announced the launch of the distribution of crypto-linked structured notes. The development will see structured notes tokenized on the Ethereum blockchain, with the product being made available to eligible non-DBS clients across three digital investment platforms and exchanges. In a press release published to its website on Aug. 21, DBS, the largest bank in Southeast Asia, disclosed that its tokenized structured notes would be made available to the investing public via ADDX, DigiFT and HydraX. These platforms have signed agreements with DBS to distribute its tokenized structured notes, which are debt securities that combine various types of financial products into one offering.Photo by Shubham Dhage on UnsplashFirst token distributionThe development marks a milestone for DBS insofar as it makes for the bank’s first-ever token distribution. The bank explained that the nature of the note means that investors are provided with a cash payout when cryptocurrency prices rise. In this way, the investor can build exposure to the asset class without having to directly manage any digital assets.While this is DBS Bank’s first token distribution, the bank had launched crypto-linked structured notes for its own eligible clients back in September 2024. DBS asserted that demand for the product has been strong, given that it enables investors to run advanced investment strategies related to their digital asset portfolios. ‘The next frontier of financial markets infrastructure’Commenting on the development, DBS Bank’s Head of Foreign Exchange and Digital Assets, Li Zhen, said that “asset tokenization is the next frontier of financial markets infrastructure.” He added that the tokenized product offering addresses a growing institutional appetite for digital assets. Singapore-based Ryan De Souza, APAC partnership lead at blockchain development firm Offchain Labs, described the product offering as an example of the fractionalization prophecy starting to play out. Access to this type of product would typically be available with a minimum investment size of $100,000. With the tokenization of the product, accessibility is increased given that minimum investment has been reduced to $1,000. Each tokenized note represents a fungible $1,000 share of the conventional structure note product. The development is also significant from the perspective of Ethereum. It demonstrates yet another instance of institutional adoption, which increases both liquidity and demand relative to ETH. Tokenized product offerings are likely to gain further momentum given that they bring greater transparency and efficiency by comparison with conventional offerings. DBS outlined that its clients executed in excess of $1 billion in trades involving tokenized structured notes and crypto options within the first half of 2025. Additionally, trade volumes related to these products grew by almost 60% from Q1 2025 to Q2 2025.Singapore-headquartered product distribution partner DigiFT recently partnered with crypto market maker GSR with the launch of its secondary over-the-counter (OTC) trading service for tokenized real-world assets (RWAs). Back in March, DigiFT announced plans to launch an on-chain index fund, backed by a tokenized stock portfolio. ADDX, another Singapore-based platform, had joined forces with OCBC Bank back in 2023 with a view towards facilitating the launch of a tokenized equity-linked structured note.