LG CNS Chooses Six Startups to Foster Innovation in Digital Transformation

Japan is moving to pull its cryptocurrency market firmly inside the regulated financial system. A bill approved by the cabinet this month would reclassify digital assets as financial products, while separate developments in blockchain infrastructure and corporate treasury strategy suggest the shift extends well beyond Tokyo's rulebook. The cabinet approved the bill on April 10 to amend the Financial Instruments and Exchange Act, according to Nikkei. The legislation would bring cryptocurrencies under the regulated financial system and mark a departure from the previous framework, which had largely treated them as payment instruments under the Payment Services Act.Photo by Louie Martinez on UnsplashTighter rules take shapeIf enacted, the new rules could take effect as early as 2027. They would prohibit insider trading based on undisclosed information, require issuers to file annual disclosures, and redesignate licensed firms from "crypto-asset exchange operators" to "crypto-asset trading operators." Penalties for operating an unregistered business would also be stiffened, with maximum prison terms raised to 10 years from three and fines increased to 10 million yen ($63,000) from 3 million yen ($19,000). The changes align with the government's broader effort to strengthen market integrity, transparency, and investor protection. The regulatory tightening comes as firms work to build compliant blockchain infrastructure. SBI Ripple Asia, a joint venture between SBI Holdings and Ripple, announced on April 7 that it had completed development of a token issuance system based on the XRP Ledger. The company described the project as financial infrastructure for issuing and managing prepaid payment instruments as tokens on a public blockchain. Such instruments, regulated under current Japanese law, could be handled via apps, websites, and APIs. SBI Ripple Asia added that it completed regulatory registration on March 26 as an issuer of third-party prepaid payment instruments. Corporate treasuries expand crypto betsListed companies are also increasing their exposure to digital assets. WIZE, a Tokyo-listed firm formerly known as Mobcast Holdings, reported holdings of 24,597 SOL as of April 10, valued at roughly $3.13 million (about 498 million yen). The company had announced in October 2025 that it would begin building a Solana reserve, and the latest disclosure suggests corporate crypto holdings in Japan are expanding beyond Bitcoin (BTC).Metaplanet remains the most aggressive example of the trend. Chief Executive Simon Gerovich said on X that the company purchased 5,075 BTC in the first quarter and now holds 40,177 BTC, acquired for a cumulative 623.37 billion yen ($3.92 billion) at an average purchase price of 15,515,598 yen ($97,600) per coin.

Foblgate adds Ripple market for increased investor opportunitiesSouth Korean cryptocurrency exchange Foblgate has added a Ripple (XRP) market, where cryptocurrencies can be traded for XRP, according to an article published by South Korean news outlet Blockchain Today. This is the third crypto-to-crypto market on Foblgate along with Bitcoin and Ethereum, providing users with expanded investment opportunities and convenient trading options.Photo by Kanchanara on UnsplashThe Ripple market opened at 10 a.m. today (local time) with a transaction fee of 0.01% and a minimum order amount of 6.5 XRP. Currently, it supports trading for EOS and BNB. Foblgate plans to add more trading pairs in the future.Ripple’s rise in South KoreaThe exchange revealed that it decided to add a Ripple market due to the cryptocurrency’s fast transaction speed and low trading fees, along with its popularity in the South Korean market. The company also emphasized the widespread expansion of Ripple’s ecosystem based on its blockchain network, XRP Ledger, and active participation from the country’s Ripple community.Foblgate’s vision“We have always been sensitive to the demands of investors and market changes,” said Ahn Hyun-jun, the CEO of Foblgate. “The launch of our XRP market aims not only to provide new investment options but also to play a role in promoting the growth and innovation of the crypto industry.”

Ant Group, a Chinese financial services conglomerate and affiliate of the Alibaba Group, has plans to acquire stablecoin licenses across Asian markets and further afield. Its Singapore-headquartered global digital payments and financial technology subsidiary, Ant International, plans to file an application for a stablecoin license in Singapore and in Hong Kong once the Chinese autonomous territory implements its stablecoin regulation later this summer.  That’s according to a report published by Bloomberg on June 12, citing unnamed sources familiar with the matter. Beyond the Asia-Pacific (APAC) region, Ant International also plans to seek a stablecoin license in Luxembourg.Photo by Ban Daisy on Unsplash2 Hong Kong stablecoin license applicationsIn a statement, Ant International stated: “We plan to apply for the fiat-referenced stablecoins (FRS) issuer's license once the process is open after the [Hong Kong] Stablecoins Ordinance takes effect on August 1.”Additionally, Bian Zhuoqun, president of Ant Digital Technologies, another Ant Group subsidiary focused on applying digital technologies, confirmed that it too will be applying for stablecoin licensing in Hong Kong.  Zhuoqun told reporters that the company has already opened dialogue with the regulator in Hong Kong, while also participating in a regulatory sandbox. While the company wasn’t a named participant within Hong Kong’s stablecoin sandbox, it had previously participated in Project Ensemble, an initiative run by the Hong Kong Monetary Authority (HKMA) aimed at establishing a tokenization ecosystem in the city. Exploring stablecoin applicationsOn June 10, Ant International and German multinational investment bank Deutsche Bank announced a strategic partnership geared towards establishing integrated cross-border payment solutions to global merchants.  The two firms stated that they would explore tokenized bank deposits while also looking into stablecoin applications for global payments. It highlighted the potential use of stablecoins within Ant companies, facilitating real-time cross-border treasury management, reserve management and on-ramp and off-ramp services. Back in November, Singapore-headquartered StraitsX, a stablecoin-based payments startup, launched a cross-border payments product in association with AliPay+, Ali International’s offshore digital payments platform. A key component of the product offering is the use of the XSGD stablecoin. Hong Kong passed its stablecoin bill last month. Last week, the city’s government outlined that the effective date for the resultant Stablecoin Ordinance has been set for Aug. 1. Under the Ordinance, only licensed institutions are authorized to offer fiat-referenced stablecoins in Hong Kong, while the issuer of such a stablecoin must be licensed in order for it to be offered to a retail investor. Last month, multinational banking and financial services group HSBC launched Hong Kong’s first blockchain-based settlement service, utilizing tokenized deposits for swift transactions. The company collaborated with Ant International, which became the first client of the service. Entering the financial mainstreamA Financial Times report published on June 12 asserted that stablecoins are entering the financial mainstream, a development that “could have profound implications for the global financial system.” Earlier this week, the South China Morning Post (SCMP) reported that Hong Kong’s stablecoin law could lead to a boom in digital assets.Daniel Tse, managing director of Hong Kong brokerage firm Futu Securities, told the SCMP: “We’re seeing a significant trend in investments related to stablecoins on our platform, which highlights the growing importance of this sector.”