AsiaNext Secures Market Operator License from Singapore’s MAS

Web3 chatting app Beoble launches beta version with 50,000 usersWeb3 social messaging app Beoble has secured over 50,000 users in just one day since the beta version of the app was released on Saturday (KST), according to a post on its official X account. This comes after pre-registration applications closed on Nov. 30, which saw over 100,000 sign-ups.Photo by Andrej Lišakov on UnsplashEmpowering Web3 connectivityBeoble is a Web3-based social messenger platform that employs a decentralized encryption network called the Communication Delivery Graph. It allows users to engage in end-to-end encrypted chatting between their digital wallets and offers a communication toolkit for integrating decentralized applications (dApps). The app currently supports all EVM-compatible blockchains like Ethereum and Polygon and plans to add others like Solana, Aptos and Sui in the future.“Beoble is essentially the first Web3 messaging app with the complete user experience,” said Cho Sung-min, CEO of Beoble.In particular, Beoble has gained attention for having a low barrier to entry due to its user-friendly user interface and experience (UI/UX). Notably, the platform facilitates direct communication between Web3 wallet owners and allows them to conduct non-fungible token (NFT) and peer-to-peer (P2P) transactions.Incentivizing community engagementThe Beoble team explained that the ongoing beta test will be an opportunity to incorporate user feedback and improve services. It will also be a period during which users can receive rewards based on their chat room engagement.“The more active users are in the community, the higher their rewards. Rewards can be obtained through activities like completing quests, following others, reacting to messages and logging in,” the firm explained. The Beoble rewards system distributes “cat points” to users based on their participation and contribution to the ecosystem, which are then used to determine their eligibility for rewards like token airdrops.Beoble also previously raised $2 million in pre-seed funding, backed by investors like Digital Currency Group, HashKey Capital and Genesis Blockchain Ventures. The platform’s public launch is scheduled for Q1 2024.

Korbit Joins Zero-Fee Crypto Trading Trend in South KoreaSouth Korean cryptocurrency exchange Korbit reduced trading fees to zero on October 20 (local time) for all of the cryptocurrencies supported on the platform. This move follows in the footsteps of Bithumb, another Korean exchange that introduced zero-fee trading earlier this month.Photo by Jeremy Perkins on UnsplashNo extra registration requiredKorbit users can now benefit from zero-fee trading immediately, with no special registration required. This arrangement will continue indefinitely until further notice.Market maker incentives continueKorbit’s market maker incentive program will remain in place. Under this program, users earn 0.01% of the transaction value whenever they place an order.Oh Se-jin, CEO of Korbit, underscored the exchange’s commitment to enhancing user satisfaction. He pointed out several initiatives they’ve undertaken, including enhancing the login system, raising the daily Korean won (KRW) deposit and withdrawal limits, and eliminating transaction fees. He further noted that by removing trading fees, they aim to alleviate the cost pressures of crypto trading for their users and breathe new life into the market.

The United Arab Emirates (UAE) advanced its push to become a leading digital asset hub as crypto exchange Bybit received a full virtual asset platform operator license from the Securities and Commodities Authority (SCA). The permit enables Bybit to provide its entire range of products to UAE residents, the company said in an Oct. 9 press release. The clearance marks the culmination of a process that began when Bybit received preliminary approval from the SCA in February. The exchange says it is the first to complete the full licensing journey and notes that 2025 has been a year of major compliance wins, including new credentials in Europe and a return to the Indian market.Photo by Atikah Akhtar on UnsplashBitGo broadens institutional reach in DubaiInstitutional infrastructure is expanding alongside retail access. Crypto custody firm BitGo secured a broker-dealer license from Dubai’s Virtual Assets Regulatory Authority (VARA). The new authorization allows BitGo MENA to deliver regulated trading and intermediation services across the region through an integrated OTC desk and a digital platform supporting spot crypto trading in both dirhams and U.S. dollars. The UAE’s welcoming attitude toward digital assets is changing how major investors think about wealth. The Bitcoin Historian said on X that The Kanoo Group, which oversees about $20 billion in assets, intends to invest in Bitcoin. Bloomberg has reported that affluent families across the region are gradually diversifying beyond real estate and private enterprises. With around $1 trillion expected to shift to younger generations soon, many heirs are looking to allocate more toward cryptocurrencies, tokenized funds, and tokenized real-world assets (RWAs). New fund marks progress in tokenized financeThat growing appetite for digital exposure is now being met with new products. Last month Qatar National Bank (QNB) Group joined forces with Standard Chartered and DMZ Finance to launch the first regulated tokenized money market fund in the Dubai International Financial Centre. Using blockchain technology, the QCD Money Market Fund brings traditional financial assets on-chain, creating new yield opportunities for investors within the digital economy. The fund is managed by QNB Group, uses infrastructure provided solely by DMZ Finance, and has Standard Chartered serving as custodian of its assets. As the UAE deepens its role in global finance, regulators are also working to align with international standards. By 2027, it expects to adopt the OECD’s Crypto-Asset Reporting Framework (CARF), with cross-border data exchanges to begin in 2028. The Ministry of Finance has already signed the Multilateral Competent Authority Agreement to make this happen. The framework promotes automatic sharing of crypto-related tax information among member countries, underscoring the UAE’s commitment to global transparency as it expands its financial footprint. Recent developments show the jurisdiction striving for growth while strengthening oversight. Exchanges are gaining clarity on what they can offer, institutions are building trading rails, and investors are embracing tokenized products. They signal a market finding its balance between innovation and regulation. The coming years will reveal how well that balance can hold.