Wemade’s NILE Launches NFT Tickets for Game Exhibition G-STAR 2023

Checkout.com Partnership Sees Alchemy Pay Extend Global ReachAlchemy Pay, a leading Singapore-headquartered fiat-crypto payment gateway, has announced a major collaboration with Checkout.com, a renowned payment processor serving global digital businesses.The partnership, announced by Alchemy Pay via a blog article published on Friday, allows the firm to seamlessly integrate Checkout.com’s Visa and Mastercard channels into its on and off-ramps, enabling effortless transactions between fiat currency and cryptocurrency worldwide. Furthermore, Alchemy Pay’s NFT Checkout product is also set to incorporate these channels in the near future, expanding the reach of the payment gateway even further.Photo by Jonas Leupe on UnsplashVisa and Mastercard integrationThe company claims that the integration of Visa and Mastercard payment rails via Checkout.com enables it to achieve one of the highest payment acceptance rates in the industry. This seamless integration allows users to easily buy and sell digital assets through Visa and Mastercard using the Alchemy Pay Ramp and NFT Checkout.Checkout.com is a leading global payments solution provider catering specifically to large global enterprise merchants, handling massive transaction volumes daily. In 2021 alone, the company processed hundreds of billions of dollars in payments. Its esteemed clientele includes major names such as Netflix, Farfetch, Grab, Sony, Pizza Hut, and Shein.As a premier payment processor, Checkout.com further strengthens its position by providing crucial support to prominent players in the crypto industry, including Circle and Kucoin, among others. The company’s offerings include higher global acceptance rates, enhanced conversion rates, reduced charge-backs, and comprehensive global coverage through a streamlined entry point.Bridging crypto and fiat economiesBy eliminating obstacles to widespread crypto and NFT service adoption, Checkout.com’s smooth conversion process aligns perfectly with Alchemy Pay’s mission of bridging the gap between fiat and crypto economies on a global scale.Digital assets don’t exist in a vacuum. The history of this new asset class is short, having emerged within a world where we have all engaged with a conventional finance system which continues to hold most of the wealth that exists. It’s vital therefore, that services like Alchemy’s broaden the ability to on and off ramp between crypto and fiat if we are to encourage ever greater participation in the crypto economy.Alchemy Pay has been actively pursuing collaborations with renowned global acquirers and payment processors to streamline its on and off-ramp processes. In April the company announced a collaboration that would see it enable domestic transfer payments in India via India’s Unified Payments Interface (UPI) system to effect crypto purchases. Earlier that month, it secured $10 million in funding from market maker DWF Labs, with the funding earmarked towards expanding the business within the South Korean market.Leveraging its payment channels, Alchemy Pay has successfully connected to key markets worldwide, enhancing its capabilities in global coverage and licensing, while also reducing transaction and operating costs.In addition to strategic partnerships, Alchemy Pay has an impressive track record of securing licenses in various countries and regions, including the United States, Canada, Indonesia, and Lithuania.

Kyobo Life Insurance, one of South Korea’s largest life insurers, has become a participant in the recently launched public testnet for Circle Internet Group’s Arc. This new open layer-1 blockchain network aims to serve a broad range of use cases, including lending, capital markets, foreign exchange (FX), and global payments.Photo by Kindel Media on PexelsNotable global participants in the Arc networkAccording to a press release from Circle, published on Oct. 28, multiple prominent banks and asset managers are also engaging with the Arc network. Kyobo Life stands as the only South Korean entity involved in the initiative. Other notable global participants include BlackRock, Deutsche Bank, Goldman Sachs, SBI Holdings, and Standard Chartered. This move comes on the heels of Kyobo Life’s earlier participation in a stablecoin project spearheaded by the Seoul-based Open Blockchain & Decentralized Identifier (DID) Association. This highlights the insurer’s growing interest in exploring business opportunities within the digital assets space. Korean crypto exchanges step up oversightAs cryptocurrencies gain increasing recognition as a new asset class, South Korean exchanges have become more vigilant in monitoring user activities, partly to curb potential criminal behavior. A report by Money Today revealed that over the past six years, local trading platforms have halted a total of 82.9 billion won ($58.1 billion) in crypto withdrawals. Among these, Bithumb accounted for the largest share, suspending withdrawals totaling 50.5 billion won ($35.4 million) from 2020 to September 2025. Upbit suspended 25.6 billion won ($18 billion) in the same period, while other exchanges like Coinone, Korbit, and Gopax reported more modest suspensions. These actions are largely in response to the Virtual Asset User Protection Act, which came into effect in July 2024. The Act aims to enhance oversight and safeguard consumers, reflecting the government’s intent to regulate the sector more tightly. Surge in Korea-Cambodia stablecoin tradingParallel to these regulatory developments, a dramatic surge in stablecoin trading volume has been observed between South Korea and Cambodia. According to data from the Financial Supervisory Service (FSS) reported by the Seoul Shinmun, transactions between five major South Korean exchanges and Cambodia’s Huione Guarantee skyrocketed to 12.8 billion won ($8.98 million) in 2024, marking a staggering 1,400-fold increase compared to just 9.22 million won ($6,500) in 2023. This rise in activity coincides with recently uncovered criminal cases originating from Cambodia and has raised concerns about illicit practices within the crypto market. In response to these concerns, crypto exchanges are bolstering their efforts to cooperate with law enforcement. Binance, the world’s largest crypto exchange by trading volume, was recently honored with a commendation by the South Korean Minister of the Interior and Safety for its contributions to enhancing cybercrime investigations and administrative capabilities. This accolade comes amid Binance’s increasing presence in South Korea. Binance, which had acquired Gopax ahead of regulatory approval, has now received clearance from local financial authorities to become the Korean trading platform’s largest shareholder. Public sentiment on Binance’s acquisition of GopaxA recent survey conducted by CoinNess and the community-voting app Cratos, which polled 2,000 South Koreans, provided insights into the public’s perception of Binance’s acquisition of Gopax. Among respondents, 38.8% indicated that their decision to use the rebranded platform would depend on the benefits it offered compared to other exchanges, while 23.6% said they were already planning to use it. Together, these figures suggest that 62.4% of participants are open to the platform, although some are conditioned on its advantages. However, 27.5% rejected the platform entirely, and 10.2% stated they do not use local exchanges at all. As South Korea deepens its role in the global digital asset ecosystem, its growing participation in initiatives like Circle’s Arc network reflects an ambition to align with international finance trends. At the same time, stricter oversight and cross-border monitoring signal a firm commitment to transparency. The balance it strikes between innovation and regulation will define its path in the global crypto arena. 

Matrixport Bullish Despite Bitcoin’s Price StandoffThe crypto market, with a total capitalization of around $1.08 trillion, finds itself in a tense state of anticipation towards October, which has been historically the most robust month for Bitcoin with average returns of over 20%, according to Singapore-based digital assets ecosystem firm Matrixport.Photo by Dmytro Demidko on UnsplashTechnical strugglesMeanwhile, Bitcoin (BTC) has been unable to breach the $27,400 mark, facing formidable resistance and failing to surpass its 50-day moving average. From a purely technical standpoint, the situation for Bitcoin appears bearish. The corrective rebound in BTC has concluded, with prices falling below key moving averages and short-term oversold conditions correcting themselves.This technical analysis reflects the cautious stance adopted by financial markets globally ahead of pivotal monetary policy decisions in countries like the US, Switzerland, the UK, and Japan.Mining difficulty increaseAnother notable development in the world of Bitcoin is the recent 5.48% increase in mining difficulty, bringing it to 57.12 T. This surge in mining difficulty is indicative of the ongoing robustness of the Bitcoin network, with the 7-day moving average reaching a substantial 423.4 EH/s, as reported by Glassnode.The leading cryptocurrency has a number of challenges and regulatory uncertainties that it must wrestle with currently.The regulatory issues at leading global crypto exchange Binance represent one of those challenges. Trading volumes on the Binance exchange have plummeted by 57% over the past week, driven by users seeking refuge on platforms yet to be subjected to regulatory crackdowns. Meanwhile, a court decision opted against ordering Binance’s US unit to provide the Securities and Exchange Commission (SEC) in the United States with further customer fund information, encouraging collaboration between the parties.Spot Bitcoin exchange-traded funds (ETFs) are another area where the market anticipates a resurgence in the cryptocurrency space, driven by a wave of applications to launch spot Bitcoin ETFs. This development, according to Matrixport, has the potential to be a catalyst for Bitcoin’s growth should a spot BTC ETF be approved. The leading digital currency’s market dominance is currently approaching 50%.Meanwhile, the announcement of a new Bitcoin fund by Laser Digital Asset Management, a subsidiary of Japan’s largest investment bank and brokerage group, Nomura, has been interpreted as bullish news. Laser Digital has introduced a Bitcoin fund targeting long-term institutional investments, further demonstrating the growing institutional interest in cryptocurrencies.Further good news has emerged via Citigroup in the United States, which has launched Citi Token. The offering leverages blockchain technology and smart contracts for business-to-business payments and trade finance, reinforcing the adoption of blockchain within the financial industry.Divergent PredictionsAlthough Matrixport’s outlook is bullish, it comes amidst a backdrop of regulatory developments and technical challenges, with analysts offering contrasting outlooks for Bitcoin’s future. Matrixport projects a bullish fourth quarter for Bitcoin, citing historical trends of strong performance during this period. It anticipates potential gains of up to $37,000 by year-end.Mike Novogratz, the Founder of crypto-focused financial services firm Galaxy Digital, envisions Bitcoin reaching $500,000 by 2024, fueled by increased adoption and maturation of the crypto market.