SK Planet Teams Up with T1 for LoL NFT Event: ‘The Hero’s Journey’

BS Universe to Leverage Burrito Wallet’s Multichain Capabilities for Global IP ProjectBS Universe, the Singapore-based company behind the globally popular intellectual properties (IPs) Pinkfong and Baby Shark, said Friday that it has signed a memorandum of understanding (MOU) with Burrito Wallet — the digital wallet developed by Rotonda, a subsidiary of Korean crypto exchange Bithumb. Through this new partnership, BS Universe aims to make the user experience on its open-world ecosystem, Baby Shark Universe, more convenient by utilizing the multichain blockchain support capabilities of Burrito Wallet.Photo by Shubham Dhage on UnsplashThis is part of the company’s goal to introduce a new paradigm by merging global IPs with innovative technologies.Multichain tech meets Web3 ecosystemBurrito Wallet is a Web3.0 digital wallet that supports 11 mainnets including Bitcoin, Ethereum, and Polygon, along with over 1,300 cryptocurrencies. It also incorporates an easy sign-up and wallet formation system while enabling users to send NFTs and virtual assets through chatting without the hassle of wallet addresses, thereby reducing the risk of faulty deposits.BS Universe’s Baby Shark Universe project is a joint venture between Baby Shark Games, a subsidiary of The Pinkfong Company’s gaming division, and Retro Future, a pixel game developer. This project aims to create a Web3-based open-world ecosystem. The company also joined the Polygon ecosystem in April and is consistently updating its products and services.Sneak peek of Baby Shark UniverseBS Universe plans to reveal the pre-alpha version of Baby Shark Universe at Next Block 2023 — a conference co-hosted by Rotonda and Bithumb META, Bithumb’s metaverse subsidiary, for accelerating joint Web3 projects — on September 4. Through efforts like this, the company intends to increase interactions with users.

Shinhan Bank and SCB TechX Succeed in Stablecoin Remittance PilotSouth Korean banking institution Shinhan Bank, Thai Siam Commercial Bank’s tech arm SCB TechX, and a Taiwanese financial institution recently announced the successful completion of a proof-of-concept (PoC) pilot of stablecoin remittances. The PoC was built on the hashgraph consensus-based public ledger, Hedera. Hashgraph consensus is a technology that provides an alternative to the more commonly used blockchain consensus mechanisms.Photo by Lea L on UnsplashThree currenciesThe pilot test was conducted to assess the feasibility and functionality of a system involving real-time settlement and real-time foreign exchange (FX) rate integration. The test was successful in implementing these capabilities for three currencies: the Thai Baht (THB), the New Taiwan dollar (NTD), and the South Korean won (KRW). Since the PoC is compatible with the Ethereum Virtual Machine (EVM), EVM-based stablecoins should be able to join the PoC framework without significant modifications.More efficient and affordableIn November 2021, Shinhan Bank developed this PoC on the Hedera network in collaboration with an international bank outside Korea, employing stablecoins for cross-border remittances. The success of the subsequent pilot test this year represents a major achievement in the pursuit of more efficient and affordable cross-border payments, especially given that the financial industry has been increasingly recognizing the transformative possibilities of blockchain and distributed ledger technology.These banks expect that this stablecoin solution will allow individuals and organizations to conduct transactions in locally denominated stablecoins, benefiting from remarkably low fees.Kim Byung-hee, Chief of the Blockchain Division at Shinhan Bank, said, “The successful completion of this second PoC marks an important step forward in our efforts to make cross-border payments faster, cheaper, and more accessible to people around the world.”SCB TechX’s CEO Trirat Suwanprateeb echoed this sentiment, stating that this endeavor can help “increase financial inclusion and improve access to financial services for individuals and businesses in underserved communities.”

Wemade joins hands with DIFC to establish WEMIX Play Center in DubaiSouth Korean blockchain gaming publisher Wemade has become the first gaming company in the country to form a partnership with the Dubai International Financial Centre’s (DIFC) Innovation Hub, according to an official press release on Wednesday (local time). Through this new partnership, Wemade plans to establish a WEMIX Play Center at the DIFC Innovation Hub as a space for gaming companies that are part of the WEMIX ecosystem.Photo by Wael Hneini on UnsplashUnlocking opportunitiesThe DIFC is a financial free zone in Dubai equipped with its own administrative, judicial and regulatory bodies. The Innovation Hub — a financial innovation ecosystem — was established by the Dubai government to attract global companies in fintech, Web3, gaming and artificial intelligence (AI). Members and partners are eligible to receive various benefits, like a DIFC Innovation Licence — which helps technology firms set up their businesses — global networking opportunities and office spaces.Along with the establishment of the WEMIX Play Center, Wemade aims to make appropriate investments for the success of its onboarded companies and work with the DIFC to create a $100 million global Web3 gaming fund. The company said that it would hold joint Web3 events with the Innovation Hub in the future to promote these initiatives.Fostering financial evolutionDubai has been actively promoting financial services to stimulate economic growth and attract investments, encouraging the creation and growth of blockchain businesses and the widespread use of cryptocurrencies. By settling down at the DIFC Innovation Hub, Wemade intends to closely communicate with UAE’s crypto regulatory authorities and formulate an optimal business strategy in line with the latest industry trends in the Middle Eastern region.Meanwhile, the company is in the process of applying for the registration of its governance token WEMIX as a recognized crypto token with the Dubai Financial Services Authority (DFSA). Cryptocurrencies on this DFSA list are authorized for use in transactions among the 4,900 institutions and individual investors residing in DIFC. Currently, there are five recognized crypto tokens including Bitcoin, Ethereum, Litecoin, Ripple and Toncoin. The latter two were recently added to the list last month.