G20 Nations Believed to Have Agreed Upon Global Crypto Framework

SafePal Delves Into Korean Market Through Klaytn PartnershipThe Seychelles-based team behind non-custodial digital asset wallet provider, SafePal, has made its first attempt at conquering the Korean market through a partnership with South Korean enterprise blockchain, Klaytn.The collaboration will see the wallet provider support digital assets native to the Klaytn blockchain network. For Klaytn ecosystem users, it also means that they can access in excess of one hundred blockchains, which are already supported by SafePal’s non-custodial wallet. Both entities articulated their thoughts relative to the partnership, with SafePal doing so via a blog post published late last week. Meanwhile, the Klaytn project team expanded on the development in a post to its website on Tuesday.Photo by Mathew Schwartz on UnsplashKorean expansionKlaytn-native digital assets will be supported via SafePal’s mobile app, hardware wallet and its browser extension-based wallet. SafePal acknowledges the leading position that the Klaytn network takes in Korea, relative to the metaverse, blockchain gaming and other Web3 verticals. While SafePal already has 10 million users, this move demonstrates that it has plans on expanding that user-base to incorporate millions more, in this case Korea-based Klaytn network users.Alluding to that Korean expansion, Veronica Wong, Co-Founder and CEO of SafePal stated: “Klaytn is a leading blockchain in Korea for Web3 and DeFi, so this partnership made perfect sense, as we want users to access exciting opportunities in all established ecosystems globally.”Bringing Klaytn dApps to SafePal usersThe Klaytn project team is viewing the hook-up in the same manner. In its announcement it outlines that the collaboration can serve its purpose in “bringing in Klaytn’s next 10 million users with SafePal.” The partnership also serves to bring leading Klaytn dApps to that new user-base of 10 million. That includes on-chain instant swap protocol, Klayswap, blockchain play-to-earn game DeFi Kingdoms, Korean NFT marketplace Pala, leveraged yield farming project, Kleva Protocol and DEX aggregator Swapscanner.Conceived by the dominant messaging app provider in Korea, KAKAO, in 2018, the development of the Klaytn blockchain is now guided by the Klaytn Foundation. The project has set out a governance roadmap that will see the project achieve decentralization later this year.SafePal growth trajectorySafePal has been hitting its numbers when it comes to expanding its user base. Over the course of the past year, it has grown its user-base from 8 to 10 million. Its support for 100 blockchains results in overall support for in excess of 200,000 token types, including NFTs. That growth strategy belies further comments that Wong made relative to this latest collaboration:“While the self-custody offered by Web3 and DeFi is increasingly important amidst growing concerns about traditional financial systems, adoption is still hindered by language and geographical barriers. Klaytn is a leading blockchain in Korea for Web3 and DeFi, so this partnership made perfect sense, as we want users to access exciting opportunities in all established ecosystems globally.”With no let up in its growth strategy, SafePal followed up on Friday with an announcement that it had integrated the recently launched low latency, high throughput layer one SUI network and its native token, $SUI.

Eureka Entertainment Hosts Opening Event for Coin Musme’s Korean Discord CommunityEureka Entertainment has opened a celebratory event for the opening of an online Korean language Discord community for its upcoming Play-to-Earn (P2E) blockchain game, Coin Musme, which is scheduled for release later this year.Photo by Alexander Shatov on UnsplashBridging crypto and entertainmentCoin Musme revolves around a storyline where characters inspired by cryptocurrencies undergo a process of becoming popular idols at the Coin Musme Academy in order to revive the public’s interest in crypto after a major market collapse. Players can earn non-fungible tokens (NFTs), which are sold through the gacha mechanic. The gacha mechanic allows players to spend in-game currency — in this case, Musme Coin (MSM) — in exchange for a random item. The MSM utility token will be listed on multiple exchanges leading up to the game’s official launch.The game’s official Discord community server called Coin Musme Academy was launched publicly on August 2 in various countries. It is led by Musme-chan, the non-playable official PR character, and operates in a school-themed roleplay style. Participants can find information about Coin Musme on the server, such as interaction events, campaigns, and more.Notably, last Tuesday (local time), a designated channel for Korean and Chinese users was added. To mark the occasion, the game is hosting an event for Korean users, who will get a chance to receive free gacha NFT vouchers that can be used in the game. Users can participate by joining the Coin Musme Korean Discord channel and following the official global Coin Musme X (formerly Twitter) account. 20 winners will be selected through a draw.Users can change their language settings to Korean and join the #general-kr channel, where they can find details about the event. The community is also recruiting Korean ambassadors, who will be responsible for promoting the game through their personal social media accounts as well as those under Musme-chan’s name.Meanwhile, another event is taking place to celebrate the recent listing of MBX, MARBLEX’s governance token, on the Japanese exchange Zaif, and the debut of a new Musme character representing MBX named Marblex-chan. Her character NFT can be found on Zaif’s NFT marketplace.Fostering fun and communityEureka Entertainment emphasized that the goal of everyone making money in the gaming world is essentially unattainable, expressing their intention to instead present a user-centered game focused on providing fun experiences, encouraging user interaction, and enhancing gameplay experiences.

South Korean cryptocurrency exchange Flybit, which is operated by the Korean Fintech Industry Association, has passed the post-audit for its Information Security and Privacy Management System certification (ISMS-P), according to local news website News1 on Wednesday (KST).Photo by FlyD on UnsplashRigorous certification standardsThe ISMS-P is a security management system jointly operated by South Korea’s Ministry of Science and ICT and the Personal Information Protection Commission, representing the highest level of security management in the country. It combines 80 requirements for Information Security Management System (ISMS) certification and 22 requirements for Personal Information Management System (PIMS) certification, totaling 102 requirements that must be met. Once obtained, certification is valid for three years, and annual post-audits are required to maintain its validity. Flybit’s commitment to security"Cryptocurrency exchanges are businesses that manage customers' valuable assets. All Flybit members approach their work by recognizing the fact that the protection of personal information is our most important value,” the exchange said. "We will continually strive to maintain security accidents since the establishment of the exchange." Flybit first obtained the ISMS certification in December 2020 and the ISMS-P certification two years later in December 2022. The most recent ISMS-P follow-up audit was conducted last month. After a thorough examination, the results of the audit were delivered by the Korea Internet and Security Agency (KISA) on Dec. 12, which stated that the exchange could maintain its certification. In October last year, the firm also received the highest rating in the comprehensive anti-money laundering (AML) evaluation conducted annually by the Financial Intelligence Unit (FIU) under the Financial Services Commission.