Ant Group Targets Web3 Developers With New Brand Launch

RaonSecure showcases blockchain-based SaaS to student ID card associationRaonSecure, a South Korean tech security company, recently showcased their blockchain-based Software as a Service (SaaS) solution, OmniOne Digital ID, to executives from the International Student Identity Card (ISIC) Association during their visit to RaonSecure’s headquarters in Seoul, as per a report by news outlet Digital Today. The tech firm also proposed a mobile ID project catered to ISIC.Photo by Matese Fields on Unsplash2.5 million student ID cards per yearThe ISIC Association, a non-profit organization registered in Denmark, is renowned for issuing approximately 2.5 million student identity cards each year. These cards are recognized and accepted in 108 countries globally.Various discount programsISIC card holders have access to an extensive range of discount programs at ISIC’s partner merchants. These discounts span a wide variety of industries, offering savings in areas such as accommodation, cultural attractions and travel. This feature of the ISIC card makes it a beneficial resource for students worldwide who are looking to save money while accessing various services and experiences.In October, RaonSecure signed a business partnership with two organizations to develop digital ID-based ISIC on mobile platforms. One of them is KISES Corporation, the Korean branch of ISIC, and the other is smart card service provider Future & More.

DeSpread, a Korea-based consulting firm specializing in Web3 and blockchain, announced today its partnership with Arbiturm, a Layer 2 network built on the Ethereum blockchain. This news was reported by local media outlet Etoday. Through the partnership, DeSpread aims to create an ecosystem for Arbitrum developers, seek collaboration with Korean enterprises and attract more onchain users. Photo by Sigmund on UnsplashArbitrum is one of the largest Layer-2 blockchains operating on the Layer-1 Ethereum network, designed to address the scalability issue of the ETH network. DefiLlama, a DeFi total value locked (TVL) aggregator, shows that Arbitrum has the fourth largest TVL among all chain networks, and the largest TVL among ETH-based Layer 2 networks. To foster Arbitrum-based services, DeSpread plans to distribute research content and development guides to Korean developers in an effort to bring down the language and cultural barriers when working with Arbitrum. Regular events featuring Arbitrum experts are also in store, set to be held both online and in-person formats. These efforts are intended to help companies seeking to adopt blockchain technologies collaborate with Arbitrum.   Forging an ecosystem within the Korean ETH communityJeff Kim, Head of operation at DeSpread, expressed his excitement about the partnership with Arbitrum, saying that Arbitrum is the network showing the strongest performance among all Layer 2 solutions on the ETH network. He added that Despread plans to support Arbitrum so that it can create its ecosystem within the Korean Ethereum community and raise its brand awareness. Nina Rong, Head of Ecosystem Development at Arbitrum, stated that Arbitrum has long been keeping an eye on Korea’s blockchain ecosystem. The partnership will help Arbitrum strengthen its position in the Korean market and shape a developer-friendly environment for individuals and businesses, she said.

With the Chinese autonomous territory of Hong Kong having introduced its new Stablecoins Ordinance on August 1 and local taxi operators required to facilitate two forms of digital payment from April 1, 2026, a case is being made that this eventuality lends itself to an ideal test case for stablecoin payments.Photo by The Transport Enthusiast DC on UnsplashA perfect test caseIn an opinion piece published by Bloomberg on Aug. 3, columnist Andy Mukherjee asserted that Hong Kong taxis would be “a perfect stablecoin test case,” suggesting that the timing is ideal for stablecoins, given that a new licensing regime has come into effect via the city’s Stablecoins Ordinance.  In an interview, Franz Bergmueller, CEO of Switzerland-headquartered crypto bank AMINA Bank, said that “stablecoins for me are a killer use case.” On social media, AMINA Bank claimed that it would be “a major step in the right direction” if Hong Kong taxis start to accept stablecoin payments from customers. It emerged last December that the city’s taxi drivers would be required to install both electronic payment facilities and navigation systems, based on a filing made to Hong Kong’s Legislative Council. The filing outlined that while some taxi drivers currently offer electronic payment options, many insist on cash payment. The city’s Transport and Logistics Bureau suggested that “drivers offer at least two electronic payment options, including both QR code and non-QR code methods.” Stablecoin payments overseasThere has been some limited use of stablecoins as a payment method by taxi services in places with unstable currencies such as Argentina and Venezuela. The world’s most popular ride-hailing service, Uber, is understood to be studying the feasibility of offering stablecoin-based payments. In 2024, Asian rival Grab commenced accepting crypto, including the USDT and USDC stablecoins, as a means of payment for ride-sharing and food delivery services in Singapore. Last month, it extended that facility to its platform users in the Philippines.In June it emerged that Tawasul Transport, a taxi service in Abu Dhabi in the United Arab Emirates (UAE), had partnered with Al Maryah Community Bank (Mbank) and Abu Dhabi’s Department of Municipalities and Transport to launch a pilot program implicating the use of AE Coin, a UAE dirham-pegged stablecoin, as a means of payment. Bloomberg’s Mukherjee suggests that for entities now applying for stablecoin licensing, this new digital payment requirement for Hong Kong’s taxi services could provide an immediate segue to onboard users and make a new stablecoin product popular. Mukherjee places specific emphasis in this regard on what actions Ant Group may take. It emerged recently that Ant Group, an affiliate of the Alibaba Group, intends to apply for stablecoin licensing across Asian markets, including Hong Kong. The company is already a leader in Asia in digital payments through Alipay, which serves 1.3 billion users.Although Ant Group is based in mainland China, Hong Kong would offer the company the opportunity to test the establishment of a stablecoin for retail payments.