Yes24 Teams Up with KPC to Establish Digital Content Distribution Ecosystem

Asian Countries Dominate Chainalysis’ 2023 Global Crypto Adoption IndexBlockchain analytics firm Chainalysis has just unveiled an excerpt of its “2023 Global Crypto Adoption Index,” revealing that Asian nations are top of the class in terms of the pace of crypto adoption.The report extract published to the Chainalysis website brings into focus the remarkable strides made by a number of Asian countries, emerging as the front-runners in driving grassroots cryptocurrency adoption.The index showcases the dominance of regions like Central and South Asia, along with the broader Oceania regions. Astonishingly, six of the top 10 countries on the index hail from this part of the world.Photo by Louis Hansel on UnsplashIndia takes top spotIndia, in particular, shines as the torchbearer of cryptocurrency adoption in the region, securing its position as the largest cryptocurrency market. It not only leads the way in grassroots adoption but has also ascended to become the second-largest crypto market globally in terms of raw estimated transaction volume, eclipsing even some major global economies.It’s interesting that India should find itself in this position when you consider that a number of measures have been taken that could have been expected to dampen adoption. The Indian authorities introduced a 30% tax on capital gains earned through the sale of digital assets, as well as a 1% tax on Tax Deducted at Source (TDS) for all crypto transactions.Last month, Indian crypto exchange CoinDCX specifically cited these tax burdens, combined with the recent bear market, as being contributing factors in its decision to cut its workforce by 12%. Another excerpt of the Chainalysis report explicitly refers to these measures and their potential to retard cryptocurrency use.Adoption despite bear marketDespite a temporary downturn in worldwide grassroots cryptocurrency adoption, Chainalysis’ research finds that these developing Asian nations, have not only weathered the storm brought about by the recent bear market but have thrived, with their total grassroots adoption surpassing the levels of Q3 2020, just before the most recent bull market.Other countries featuring in the top ten include Vietnam (third), the Philippines (sixth), Indonesia (seventh), Pakistan (eighth), and Thailand (tenth). China, Turkey, Bangladesh, and Japan then feature within the top twenty.This data holds promise for the cryptocurrency landscape in the Asian region. Many of these nations are lower middle-income (LMI) countries that typically exhibit burgeoning industries and populations, collectively representing more than 40% of the global population. Chainalysis suggests that if these countries shape the future, cryptocurrencies are poised to play an indispensable role in shaping the global financial ecosystem.Institutional adoptionThe excerpt from the report also hints at the burgeoning trend of institutional adoption in high-income countries, even in the face of a lingering bear market. This suggests a potential dual-directional adoption scenario, where cryptocurrencies cater to the needs of users from both affluent and developing nations, bringing together a diverse spectrum of economic backgrounds.The report takes an optimistic outlook, stating:“Grassroots crypto adoption isn’t about which countries have the highest raw transaction volumes. . . . Instead, we want to highlight the countries where average, everyday people are embracing crypto the most.”“If LMI countries are the future, then the data indicates that crypto is going to be a big part of that future.”

Japanese Security Token Platform Alterna Surpasses 10,000 Pre-RegistrationsAlterna, a Japanese real estate-focused security token platform operated by Mitsui & Co. Digital Asset Management (Mitsui & Co. DAM), has garnered over 10,000 pre-registrations ahead of its launch, according to a recent press release.Benefits for pre-registrantsPre-registrants for Alterna will be able to enjoy benefits such as preferential treatment in the selection process for projects upon its launch. The pre-registration window will remain open until May 8, 2023.Real estate of $1.7BMitsui & Co. DAM manages real estate properties valued at around 230 billion yen (~$1.7 billion), which will be gradually digitized into security tokens. The company will choose investments that offer greater stability compared to publicly traded stocks, focusing on large-scale real estate properties and infrastructure with consistent cash flows, such as rental income.More investment opportunitiesBy utilizing blockchain technology to issue security tokens, Alterna will enable retail investors to invest small sums in stable assets that were previously inaccessible. The platform has digitized its operations and developed an optimized system to reduce management costs. Additionally, it has gone paperless to provide convenience to its users. With a smartphone, users can complete the entire process, from opening an account to making an investment.Firm’s expansionSince the enactment of the revised Financial Instruments and Exchange Act in 2020, security tokens have gained traction as an investment vehicle in Japan. Mitsui & Co. DAM has launched four security token offerings, tokens from which are subject to tax benefits. As the firm expands its business, Mitsui & Co. DAM is also seeking talented individuals for various positions, including compliance, asset management, sales, and internships.Photo by Shubham Dhage on Unsplash

NEOPIN Strengthens Japanese Market Strategy for Its Global ExpansionNEOPIN, the global CeDeFi platform of South Korean investment holding company Neowiz Holdings, announced the strengthening of its strategy to enter the Japanese market as part of its global expansion plan.Photo by Aditya Anjagi on UnsplashThree key initiativesTo achieve this goal, NEOPIN has devised three key initiatives. Firstly, it will make investments in Japanese partners and provide support for their entry into other markets such as Korea, the Middle East, and Africa. Secondly, NEOPIN aims to facilitate the entry of its existing partners into Japan. Lastly, the Korean platform plans to collaborate closely with the Finschia Foundation and its members to effectively drive its expansion efforts in Japan.Web3 landscape in JapanSince the Mt. Gox incident in 2014, wherein the major Tokyo-based cryptocurrency exchange went bankrupt due to hacking attacks, Japan has responded by implementing stricter regulations. However, in recent times, the Japanese government has displayed a more positive stance towards Web3 technology, aiming to attain dominance in this sector. Illustrating this commitment, the Web3 project team, operating under the ruling Liberal Democratic Party’s (LDP) Working Group for Digital Society Promotion, released the Web3 White Paper in April. The document underscores Japan’s determination to lead the global market by fostering a business-friendly environment for Web3 innovation.Moreover, Prime Minister Fumio Kishida recently delivered a keynote speech at Japan’s annual Web3 conference, WebX, reaffirming the government’s dedication to establishing a Web3-friendly ecosystem. These initiatives signal Japan’s potential to contribute to the growth of the cryptocurrency and decentralized finance (DeFi) industry.Adaptation to regulationsNEOPIN’s operator Neowiz Partners, formerly known as NEOPLY, became part of the Innovation Programme of the Abu Dhabi Investment Office (ADIO) in the United Arab Emirates (UAE), with an aim to become the world’s first regulated DeFi platform. It is also working with the Abu Dhabi Global Market (ADGM) to develop a DeFi regulatory framework for the Gulf nation. In a similar vein, NEOPIN strives to respond quickly to the changing regulatory landscape in Japan to ensure the Korean CeDeFi protocol firmly establishes its presence in the Japanese market.In addition to providing direct and indirect service offerings in Japan, NEOPIN will also invest in and partner with local Web3 projects. One significant step taken by NEOPIN was its participation in IVS Crypto 2023, a high-profile Web3 startup event held in Kyoto in June. At this event, NEOPIN engaged with various Japanese businesses, initiating important connections. Since then, the Korean platform has been making progress in advancing communication and collaborations with Japanese enterprises.NEOPIN as blockchain validatorCollaboration with the Finschia Foundation will also be strengthened to achieve success in the Japanese market. In July, the blockchain mainnet Finschia launched its governance consortium and revealed its members. Within just four hours of the consortium’s launch, NEOPIN, as a governance member, received more than 1 million delegated votes, maintaining its position at the top spot in terms of voting power ever since. The Finschia mainnet was established by Line Tech Plus, a blockchain subsidiary of Tokyo-based messaging app giant Line Corporation.Serving as validators on various blockchains, including Ethereum, Tron, Cardano, and Cosmos, since 2017, NEOPIN has acquired blockchain and technical expertise. Last month, NEOPIN launched liquid staking products for ETH and KLAY, making it Korea’s first blockchain project to introduce an ETH liquid staking product. Liquid staking is a mechanism that allows users to deposit their cryptocurrencies into a staking pool, where they receive liquidity provider tokens in exchange. By holding these tokens, users can further redeposit them to earn additional yield.In light of this development, NEOPIN CEO Kim Yong-ki emphasized the CeDeFi protocol’s global expansion strategy, establishing its bases in the UAE, Japan, and Indonesia. These locations will serve as hubs for NEOPIN’s expansion efforts in the Middle East and Africa, Northeast Asia, and Southeast Asia. Kim added that NEOPIN will leverage its physical and human resources to achieve notable outcomes in the Japanese market.