Bitget Launches $100M Crypto Ecosystem Fund

Velo Token (VELO) has experienced a significant surge in popularity within Southeast Asia's crypto market, drawing comparisons to established players like XRP. Market intelligence platform Santiment highlighted VELO's meteoric rise, noting a substantial 358% increase in price over the last six weeks. This remarkable performance has captured the attention of investors and analysts alike, leading to discussions regarding its potential to become the "XRP of Southeast Asia."Photo by Lucas George Wendt on UnsplashFactors driving VELO's growthThe primary factor fueling VELO's rapid ascent is its substantial trading volume, particularly in the Asian market. According to Santiment data, VELO's trading volume has surged to $95.95 million, a noteworthy figure for a token outside the top 100. This surge in volume reflects growing interest and confidence in VELO, attributed to its integration with leading blockchain platforms such as Solana (SOL) and Binance Smart Chain. VELO has demonstrated significant progress, with a 57% increase over the past seven days and an impressive 225.51% surge over the last 30 days. Despite recent market fluctuations, VELO has maintained a bullish trend, recording a 16.88% rise from a 24-hour low. Santiment's Weighted Sentiment metric indicates a bullish outlook for VELO compared to XRP, further bolstering investor confidence in VELO's potential. Contributing factors to VELO's successSeveral factors have contributed to the unprecedented surge in VELO's value. Notably, VELO tokens are stored in reputable self-custody wallets such as Ledger, Lobstr, and Freighter, enhancing their popularity among investors. Endorsements from crypto influencers, who have labeled VELO as the "XRP killer," have also amplified investor interest. Additionally, VELO's strategic partnerships with industry leaders like iRemit, Visa and Lightnet have expanded its regional market and validated its capacity to revolutionize cross-border payments and digital financing solutions. As a result, VELO has witnessed substantial growth in trading volume, with its price reaching $0.029 per token. VELO's rise signifies its potential as a catalyst for innovation in the cryptocurrency sphere, akin to XRP. Its unique combination of smart contracts, absent in the XRP blockchain, adds to its appeal for investors seeking efficiency and versatility in financial transactions. Velo Labs' focus on revolutionizing international remittance markets further solidifies VELO's position as a game-changer in the crypto landscape. With the possibility of expanding its popularity beyond Asia, VELO's market cap could experience significant growth, further cementing its presence in the cryptocurrency market. 

Japanese regulators are scrambling to police a chaotic fringe of opportunistic crypto projects, even as the country’s traditional banking heavyweights and global exchanges race to establish themselves in a rapidly expanding digital asset market.Photo by Aditya Anjagi on UnsplashOn the regulatory front, authorities are considering a criminal investigation into “Sanae Token,” a token named after Prime Minister Sanae Takaichi, DL News reported. Issued in late February on the Solana blockchain, the token was created by NoBorder, a video production team and decentralized autonomous organization led by Japanese entrepreneur and YouTuber Yuji Mizoguchi. As of late January, NoBorder had not obtained a crypto exchange license and reportedly had not applied for one. Takaichi says govt never authorized tokenBefore reports of the investigation emerged, Takaichi said in a March 2 statement on X that she had no knowledge of the project and that the government had not authorized it. She added that the clarification was necessary to prevent the public from being misled. According to Phantom wallet data, the token has a total supply of 1 billion and is currently trading at $0.00415291, giving it a market capitalization of roughly $4.2 million. The Financial Services Agency (FSA) is conducting voluntary interviews with involved parties to establish the facts. As regulators move to curb opportunistic actors exploiting a nascent but expanding market, established global crypto firms are continuing to deepen their presence in the region. Crypto exchange Binance plans to secure five additional regulatory licenses in Asia this year, according to Nikkei Asia. The exchange currently holds licenses in Japan, Australia, India, Indonesia, New Zealand, and Thailand. It is also expected to gain a South Korean license through its planned acquisition of local exchange Gopax. Binance aims to expand its total number of licensed jurisdictions to more than 20 by securing further approvals across Asia. TradFi deepens crypto pushJapan’s traditional financial institutions are also accelerating their blockchain efforts. South Korean news outlet Newspim reported that Bank of Japan Governor Kazuo Ueda announced plans to technically verify a blockchain-based system that would digitize a portion of current account deposits for settlements. Made at FIN/SUM 2026, a major fintech event co-hosted by Nikkei and the FSA, the comments suggest the central bank is moving beyond merely studying a central bank digital currency and may begin experiments linking its funds directly to blockchain infrastructure. Further underscoring this institutional push, Cointelegraph reported that Mitsubishi UFJ Financial Group (MUFG), one of Japan’s three largest banks, will conduct a joint stablecoin pilot program alongside Mizuho Bank and Sumitomo Mitsui Banking Corporation. 

Korean Crypto Firms Organize Consortium for Real-World Asset TokensElysia, a Korean decentralized autonomous organization (DAO) project, announced today that it organized a consortium to promote an ecosystem for real-world asset (RWA) tokens.Tangible assetsRWA tokens are virtual assets underpinned by tangible assets such as real estate properties and cars.The consortium comprises Neopin, a blockchain platform of Korean online game publisher Neowiz; Galaxia Metaverse, a blockchain subsidiary of Korean industrial conglomerate Hyosung Group; and BKEX Labs, a British Virgin Islands-based crypto investment firm. The companies will collaboratively research and develop a decentralized finance (DeFi) lending protocol supported by RWA tokens.Photo by Jessica Bryant on PexelsLending protocolsLending protocols based on physical assets offer better security and higher profitability compared to those based on unbacked virtual assets, which often experience high price volatility. As a DAO LLC approved by the state of Wyoming in the US, Elysia will leverage its RWA tokenization system to bolster security within the protocol and provide legal safeguards to investors.In addition, tokenized tangible assets are expected to offer small investors a chance to invest in markets that were previously out of reach due to the requirement of a significant amount of capital.According to Aju Business Daily, an Elysia official said that an RWA-based lending protocol would not only appeal to retail investors but also to institutions and projects. These entities are expected to park their excess funds and introduce RWA liquidity pools into their DeFi, the official added.Better liquidity of physical assetsElysia’s RWA tokens can be liquidated on its DeFi platform Elyfi. Users can create RWA tokens based on their tangible assets and visit Elyfi to sell those tokens or borrow virtual assets against them. Elysia aims to facilitate the liquidity of physical assets and offer a diverse range of financial services based on this model.