Singapore High Court Embraces NFTs for Financial Investigations

Global crypto exchange platform OKX has announced that it has relaunched its exchange services and Web3 wallet within the U.S. market. In a press release published on April 15, the company said that customers can now access the platform in the United States, “with existing customers migrating seamlessly and new customers gradually gaining access ahead of a full nationwide launch.”Photo by Danny Burke on UnsplashOnboarding OKCoin usersIn terms of existing customers, the company is referring to users of OKCoin, the former name of OKX, who will now be onboarded onto the newly launched OKX exchange service. The Seychelles-based company, which was originally founded and operated in China, has established its U.S. headquarters in San Jose, California. The company has appointed Roshan Robert, formerly an executive at Morgan Stanley and Barclays, as its U.S. CEO. Commenting on the U.S. market relaunch, Robert stated: "With the US advancing crypto regulatory clarity, we see tremendous opportunities to build trust and deliver secure, compliant digital asset solutions.” Inflection pointIn a blog post published to the firm’s website, Robert said that he had been watching the development of the industry since its earliest days, but that he thinks that the crypto sector has now reached “a critical inflection point.” He added that more so than ever before, the crypto sector is currently interacting more directly with traditional finance and capital markets.  Referring directly to what platform users can expect from the relaunched service in the U.S., the OKX U.S. CEO said that the firm plans on rolling out new features throughout the year as part of its vision to build a crypto super app. Rollout of the platform’s services in the U.S. will be carried out on a phased basis. The firm also intends to offer integrations with local banks, together with full support for major assets such as Bitcoin, Ethereum, USDC and USDT.The OKX Wallet will be made available to U.S. users, supporting a range of digital assets across 130 blockchain networks. The wallet will enable users to access a number of Web3 dApps, facilitate the movement of digital assets between blockchain networks and include a number of tools to assist platform users with their trading activities. Entering a ‘new era’It’s likely that a change towards a more positive outlook where the crypto sector is concerned at government and regulatory levels in the U.S., together with a settlement reached with the U.S. Department of Justice (DOJ), has influenced OKX in relaunching its service stateside.  The DOJ had opened an investigation into the company on the basis of allegations that it was operating a money-transmitting business on an unlicensed basis. In its settlement, the company paid fines and penalties totaling $500 million. With that settlement behind it and a more enlightened climate for digital assets having emerged in the U.S., OKX described the service relaunch as “a new era for OKX in the U.S.”Yves La Rose, CEO of Web3 banking project, the Vaulta Foundation, said that OKX’s U.S. expansion is a signal, indicating that “a new era of compliant, wallet-led Web3 innovation is underway.” Diana Pires, an executive at crypto payments firm Beam, expressed a similar take, stating on X that OKX was relaunching “because the world’s largest economy is finally ready for crypto,” adding that “the floodgates are now open for international crypto companies.”

Xangle Joins Coreum Mainnet as ValidatorCrossAngle, the operator of the virtual asset data intelligence platform Xangle, has joined Coreum’s third-generation Layer-1 blockchain mainnet as a validator.Image by Pete Linforth on PixabayValidators in proof-of-stake (PoS) blockchain systems operate nodes and contribute to the network’s maintenance and security by verifying newly created blocks. By working with Coreum’s existing validators, Xangle aims to bolster the security and well-being of the blockchain ecosystem while simultaneously building its expertise as a participant in the ecosystem. The company joined Korean gaming company Com2uS’ blockchain mainnet XPLA as a validator last month as well.“This partnership will expand the areas where Xangle can contribute to the security and trustworthiness of virtual assets,” said Lim Hyun-min, CrossAngle’s Chief Business Development Officer (CBDO). “Through our collaboration with Coreum, we will take the lead in the mass adoption of Web3 as part of the global blockchain ecosystem.”Coreum’s path to growthThe Coreum mainnet was launched in March and has since garnered attention for setting new standards such as compliance with the international standard for electronic data interchange between financial institutions (ISO 20022) and smart token functionality, which allows tokens to execute transactions.The platform also recently secured a partnership with Ledger, a leading company in crypto hardware wallets. A hardware wallet is a physical, offline device that stores private keys to cryptocurrency. This collaboration with Ledger is expected to significantly enhance the diversity and security of the Coreum ecosystem.Favio Verlarde, Head of Growth and Partnerships at Coreum, described the partnership with CrossAngle as an integral part of Coreum’s global expansion strategy, emphasizing the importance of data infrastructure and resources. He expressed hopes that Coreum’s abilities and innovations will facilitate the seamless transition, adoption, and popularization of blockchain.New solutions underwayMeanwhile, Xangle is gearing up to launch enterprise-focused blockchain solutions that cater to Web3 and virtual asset businesses. This includes Explorer, which allows users to search and analyze on-chain data within blockchain networks, and Xangle Beacon, a service that offers enterprise resource planning (ERP) solutions for Web3 businesses.

Singapore-based payment solution provider Alchemy Pay has launched its fiat-crypto on-ramp payment services on the popular web portal Bitcoin.com.Photo by Kanchanara on UnsplashNew local payment methodsAccording to a recent press release, the integration offers a direct-to-customer plugin, providing access to a diverse range of cryptocurrencies. The move aims to enhance Bitcoin.com's reach, particularly in Asian and Latin American markets, by incorporating new local payment methods. Bitcoin.com emphasized the significance of Alchemy Pay's integration, suggesting that it represented a streamlined transition between fiat and crypto with an expanded array of local payment options. This development aligns with Bitcoin.com's goal of meeting the needs of its user base in Asia and Latin America. Alchemy Pay's payment gateway facilitates transactions using major credit cards such as Visa, Mastercard, Discover and Diners Club across 173 countries. Additionally, the platform supports domestic transfers and mobile wallet payments in developing markets. Alchemy Pay attempts to make the know-your-customer (KYC) process frictionless, coupling that service offering with low fees and competitive conversion rates. The firm’s overriding mission is to make cryptocurrency transactions as convenient as typical online payments. Focusing on industry partnershipsAlchemy Pay has been pursuing industry collaborations at an ever increasing rate over the course of the past year. The network boasts over 300 fiat payment channels, enabling checkouts beyond card payments to include various local mobile wallet options. Last month, it clinched a deal with global payment processor, Worldpay. That collaboration facilitates Alchemy Pay service users in leveraging Worldpay’s extensive Visa and Mastercard payment rails. Back in July, it struck a similar deal with global payments processor, Checkout.com. The company has also been active in the United States. Within that market, it has secured money transmitter licenses in the states of Iowa and Arkansas. It’s understood that the firm has more such licensing applications in the works in other U.S. states. At the end of November, Alchemy partnered with self custody and multi-coin wallet project Trust Wallet, enabling the wallet providers 70 million users in engaging in crypto transactions involving fiat payments. VERSE tokenBitcoin.com's native Token VERSE was launched in December 2022, acting as the platform’s rewards and utility token. The VERSE token has been enabled as a supported cryptocurrency as part of the Alchemy Pay platform integration. The utility token serves as a method of payment in its own right within the Bitcoin.com ecosystem and beyond, unlocking rewards along different tiers, and providing access to exclusive platform services. Users worldwide can leverage the VERSE DEX, Bitcoin.com's decentralized exchange, to swap cryptocurrencies without reliance on third-party custodians. Bitcoin.com’s goal is to simplify the process of buying, spending, trading, investing, earning and staying informed about cryptocurrency and the future of finance. Millions of users utilize Bitcoin.com's multi-chain digital wallet app for various crypto-related activities.  Meanwhile, Alchemy Pay supports transactions in 173 countries. The ramp, a one-stop solution for buying and selling crypto and fiat, can be seamlessly integrated by platforms and dApps as needed.