Korean Crypto Market Outpaces Stock Exchange Amid Bitcoin ETF Optimism

Hana Financial Group Joins Hands with Netmarble to Attract Digitally Savvy Youths to the MetaverseKorean financial holding company Hana Financial Group has formed a strategic partnership with game publisher Netmarble, aiming to capture the attention of digitally savvy youths in South Korea. Their strategy involves introducing innovative financial services and identifying opportunities for joint business projects, as reported by local news outlet Consumer Times.Photo by Andre Taissin on UnsplashFinancial services in the gaming realmThe two sides intend to launch Hana Financial Group’s services within the realm of Grand Cross: Metaworld, a 3D animated massively multiplayer online (MMO) game. Grand Cross is being developed using Unreal Engine 5 and is a project led by Metaverse World, an affiliate of Netmarble.While the companies strive to collaborate on joint marketing promotions that encompass both gaming and financial aspects, the specific plans for executing these initiatives are still in the process of being developed.Some industry experts anticipate that the two entities will leverage their respective strengths within the virtual world to create synergistic outcomes.User interaction and advertising benefitsAccording to a tech insider who spoke to Consumer Times, there are indications that Netmarble will initially empower Hana to feature the financial group’s affiliated entities on the gaming company’s metaverse platform. This strategic step holds the potential for fostering user interaction and reaping advertising benefits. Additionally, the source mentioned that subsequent to this phase, Hana might take steps to enable customers to access banking services within the virtual domain.If, in the future, in-game goods were to establish themselves as a dependable form of currency due to potential policy reforms, it’s believed that Hana Financial Group would play an even more substantial role, leading to increased business opportunities for both partners, the source noted. These offerings would primarily cater to digital native generations.

Flybit Achieves Top Score in FIU’s Anti-Money Laundering AssessmentSouth Korean virtual asset exchange Flybit said Monday that it has received the highest rating in the comprehensive anti-money laundering (AML) evaluation conducted annually by the Financial Intelligence Unit (FIU) under the Financial Services Commission for all financial companies in Korea.Photo by REDioACTIVE on PixabayRanking among top-performing financial institutionsThe comprehensive AML evaluation is aimed at facilitating the optimal establishment and implementation of strong AML systems. It is operated under a control system where financial authorities assess and oversee a given company’s AML risk management, and the company receives verification on the adequacy of its risk management levels.In this year’s evaluation, Flybit achieved a score of 89.70, scoring in the highest ranks among all financial institutions, including virtual asset service providers (VASPs). This places Flybit among the upper echelons of financial companies that received an “Excellent” rating, which make up only 15% of all evaluated firms.Robust and varied effortsThe exchange explained that it has taken a risk-based approach (RBA) to control and manage its AML risk factors that were found in the results from the FLYBIT Enterprise-Wide AML Risk Assessment (FARA) — an AML risk assessment model developed in-house — and the FIU’s semi-annual AML system compliance evaluation, where FLYBIT was deemed as a “self-monitoring” company.Notably, Flybit operates customized AML education programs for different ranks and job roles within its corporation, which leverages both external and internal resources, including the Korea Banking Institute. It also conducts over 40 hours of advanced-level training — three times longer than the FIU recommendation — for employees directly involved in AML-related tasks.“The basis for this [evaluation] result was the active interest and support of the management, as well as the operation of a specialized AML control system for VASPs,” said Seol Ki-hwan, a compliance officer in charge of AML reporting at Flybit. “In the future, we will continue our efforts, not only in AML compliance but also in fulfilling our responsibilities and roles as a model VASP.”

Me2on launches P2E game ‘Solitaire Crypto War’ with crypto integrationMe2on, a Seoul-based game developer, revealed the launch of its new game, Solitaire Crypto War, a play-to-earn (P2E) tournament game developed internally and published by its subsidiary, Memoriki. This Android game will be available globally, excluding South Korea and China. Memoriki, established in 2009 and originally based in Hong Kong, was acquired by Me2on earlier this year, broadening Me2on’s reach in the gaming market.Photo by Erik Mclean on UnsplashPVP card gameSolitaire Crypto War, developed from Me2on Group’s Solitaire IP, is a card puzzle player-versus-player (PVP) game that has amassed over 130 million global downloads. Players can engage in the classic Solitaire game against multiple opponents, competing to achieve the fastest clear times. The game ensures fair competition by matching players under identical conditions, with the highest scorer emerging as the winner. Designed for fast-paced gameplay, it pairs players of similar skill levels. Additionally, each season introduces unique events like puzzle piece collecting, Monopoly, and Powerball games, offering various rewards.Available in both free and paid optionsSolitaire Crypto War is a free game, but it also offers a feature where users can opt to use cryptocurrencies like ETH, USDT, USDC, UNI, LINK, MATIC and MEV to participate in competitions against other players and win prizes. The game boasts a variety of modes, including PVP battles, challenges and tournaments, enhancing its appeal. Additionally, its integration with Face Wallet enables users to log in using their social accounts, eliminating the need for a separate wallet installation, thus simplifying the gaming experience.Event running until Dec 28In celebration of the official launch of Solitaire Crypto War, Me2on has planned an opening event running until Dec. 28, providing various benefits to its users. Everyone accessing the game during this event period will receive a welcome package. Additionally, players can engage in various activities such as the game review challenge, ticket triumph challenge, and community quest takedown to receive items daily, enhancing their gaming experience and rewarding their participation.Cho Choong-hyeon, who leads Me2on’s Blockchain Game Division, expressed that the company has integrated blockchain technology to bring the classic card game Solitaire into the Web3 realm. He emphasized that this move allows Solitaire to evolve into a play-to-own (P2O) game, where users can directly own their gameplay achievements. Cho also highlighted Me2on’s dedication to being at the forefront of the Web3 market, which he believes is set to transform the paradigm of the gaming industry.