Japan’s Aozora Bank Plans Digital Currency Launch

CUBE, a hybrid crypto exchange that settles trades on-chain using secure multi-party computation, announced on its official X account that it has listed ACS, the native token of Solana-based monetization platform Access Protocol.  The hybrid exchange utilizes its custom rewards platform, Blocks, to engage users through unique packages for listing traders and token holders. Participants in the listing will be eligible for campaign rewards.  Bartosz Lipinski, CEO and co-founder at CUBE, recently revealed plans around Isometric (ISO), an intent-based transaction network, enabling cross-chain trading to eliminate the need for asset bridging.  “When we started building Cube, we wanted everything to be an intent… Everyone will be able to submit intents to the network and verify settlements on multiple chains using the decentralised MPC that we’ve built,” Lipinski said during his presentation at the Solana Breakpoint conference. “Through the decentralised MPC integration layer, you will be able to actually use the value on different layer ones without cannibalising it,” he went on to share.  ISO will be the platform token powering governance, staking, and decentralized custody, according to Cube's announcement. Both Token and Mainnet launch are expected to happen some time in Q2 2025.  In a related development on Monday, Cube announced its partnership with the Argentinian government. The company plans to explore leveraging the Isometric network as a catalyst for the South American nation’s financial system. 

Despite ongoing fluctuations in the cryptocurrency market, analysts suggest that sustained institutional activity is likely to underpin a near-term rebound. As Bitcoin recovered above $90,000 on Dec. 5, market observers began weighing potential risks against growing evidence of corporate and sovereign adoption.Photo by Austin Hervias on UnsplashStructural risks seen as limitedAccording to South Korean news outlet Etoday, Hong Sung-wook, a researcher at NH Investment & Securities, said that the recent slump in both Bitcoin and Strategy stock may weigh on shareholders but does not fundamentally threaten the company’s solvency. He noted that concerns that typically emerge during Bitcoin downturns seldom reflect new underlying risks. Addressing the potential removal of Strategy from the MSCI index, pending review results expected by Jan. 15, Hong indicated that the impact would likely be limited, as the firm has already exhausted its capacity to make additional Bitcoin purchases. However, he cautioned that prolonged share price weakness could force companies to reevaluate digital asset treasury (DAT) models. Such a shift, he warned, could trigger corporate sell-offs that would burden the broader market. Hong also addressed concerns related to stablecoins and future technology. Despite S&P Global Ratings assigning Tether its lowest grade of "weak," Hong observed that the issuer maintains reserves exceeding the USDT in circulation, rendering a mass withdrawal crisis unlikely. Regarding the threat of quantum computing, he argued that the timeline remains uncertain and that the Bitcoin network could mitigate future risks through consensus-driven protocol upgrades. Policy moves may offer market tailwindsLooking ahead, the analyst identified several constructive developments that could bolster the market, including the potential passage of a U.S. crypto market structure bill early next year. He also pointed to the anticipated nomination of Kevin Hassett as Federal Reserve Chair by President Trump. Hassett is expected to favor interest rate cuts, creating a potentially favorable macro environment. Additionally, Vanguard’s decision to permit the trading of select third-party crypto ETFs and mutual funds was cited as significant, given the asset manager’s historically conservative stance on digital assets. While the market has shifted into a broader risk-off mode, institutional demand for Bitcoin has continued to build, including activity that began well before the recent pullback. The Czech central bank recently established a $1 million test portfolio comprising Bitcoin, a USD stablecoin, and a tokenized deposit to research payment futures, though it clarified that it does not currently plan to add digital assets to its international reserves. In the academic sector, a Form 13F filing with the U.S. SEC revealed that Harvard Management Company, which oversees a $56.9 billion endowment, held 6.8 million shares of BlackRock’s iShares Bitcoin Trust ETF (IBIT) as of Sept. 30, a threefold increase from the previous quarter. Furthermore, BlackRock CEO Larry Fink reportedly stated at the New York Times DealBook Summit 2025 that multiple sovereign wealth funds have begun accumulating Bitcoin, according to Forbes. Korean banks advance crypto integrationThis shift toward institutional acceptance is also materializing within South Korea’s traditionally conservative banking sector. The Maeil Business Newspaper reported that Woori Bank recently became the first major South Korean lender to display real-time Bitcoin prices on its trading floor, allowing dealers to track the asset alongside equities and foreign exchange rates. Concurrently, Hana Financial Group announced a partnership with Dunamu, the operator of the Upbit exchange, to develop blockchain-based remittance services, according to The Korea Economic Daily. By leveraging Hana’s global network and Dunamu’s technology, the initiative aims to reduce settlement times and costs for cross-border payments. Hana intends to introduce the technology for transactions between its Korean offices and overseas branches as early as the first quarter of next year, with broader expansion planned as domestic regulations evolve. Hana intends to launch the service at overseas branches as early as the first quarter of next year, with gradual expansion planned as domestic regulations evolve. 

UAE Starts to Accept Crypto License ApplicationsEarlier this week, the United Arab Emirates (UAE) announced that it has commenced the process of accepting license applications from crypto companies.©Pexels/Andrea PiacquadioThe announcement was made by the Middle Eastern country’s Securities and Commodities Authority (SCA) on Monday. The decision comes in the wake of last year’s UAE Council of Ministers opting to regulate the country’s crypto sector as per Decision №111.VASP approval processAs part of the process, virtual asset service providers (VASPs) are obliged to apply to the SCA for approval with those already licensed within the UAEs financial-free zones not required to undertake the process.When it comes to the individual Emirates of Dubai and Abu Dhabi, both have already implemented their own licensing process relative to crypto service providers. In the case of Dubai, it already has its Virtual Assets Regulatory Authority (VARA) and its procedures have been deemed to be unified with the process now being implemented by the UAE.The SCA suggested that the initiative offers the opportunity for crypto companies to “regularize their status.”Key rulesThe SCA has set out nine articles as part of the process it is asking crypto companies to apply for and sign up to. Article 3 stipulates that VASPs can only trade digital or virtual assets that have been accepted and approved within an official list of virtual assets.Article 4 sets out the tasks and responsibilities of the virtual assets platform operator. It considers the need for integrity, transparency and professional behavior. Service access must be organized through procedures that facilitate access only for permitted persons.Article 5 highlights the obligations of VASPs relative to seven areas. These include operational efficiency and flexibility, and the provision of operational rules. That incorporates the need for the setting and maintenance of operational business rules and meeting operational rules according to a predefined set of standards.The policy sets out the right of the SCA to request provision of documents and data from a VASP and their receipt within a specified time period.Jurisdictional arbitrageThe UAE and particularly its Abu Dhabi and Dubai emirates are demonstrating that they’re open for business where the digital assets sector is concerned. It’s one location that’s on the rise in terms of coming to global prominence in competing for crypto business alongside places like Singapore and Hong Kong.The Biden administration in the United States has shifted policy relative to digital assets to the down side. On Wednesday it emerged that leading US exchange Coinbase has received approval to operate in Bermuda. It’s being speculated that negotiations are also underway in Abu Dhabi to secure a license for the company to trade there.On the day in which Securities and Exchange Commission (SEC) Chair Gary Gensler received a harsh grilling in front of the House Financial Services Committee on Capitol Hill, Coinbase CEO Brian Armstrong confirmed that the company is prepared to move overseas if the regulatory environment doesn’t improve in the United States.Meanwhile, earlier on Thursday, the European Union officially passed its Markets in Crypto-Assets (MiCA) legislation in the European Parliament, providing clarity for the digital assets industry in Europe. In moving forward with crypto licensing, the UAE is jockeying for position among a field of global centers that are vying for crypto business while the US falls behind.