Real-World Assets Emerge as a Beacon of Hope for the Blockchain Industry Amid Crypto Winter

UAE’s Royal Office Visits Korea to Further Security Token Collaboration with AIITONEAIITONE, a Korea-based augmented reality firm specializing in security tokens, invited journalists to showcase its strategy to foster business collaborations between South Korea and the United Arab Emirates (UAE) on the occasion of the Korean visit of the Private Office of His Highness Sheikh Ahmed Bin Faisal Al Qassimi.Photo by Ethan Brooke on UnsplashPrivate Office’s return visitThe Private Office is a Dubai-based corporate conglomerate that operates businesses in various areas including real estate, energy, and finance. This visit by the Private Office marks a return visit following AIITONE’s visit to the UAE in July.The conference took place at a hotel in Gangnam, Seoul, and was attended by Lee Jin-yeop, CEO of AIITONE; Bruce Jeong, Chairman of Middle East Investment; and H.H. Sheikh Ahmed Bin Faisal Al Qassimi.Security tokens, CBDCs, smart defenseChairman Jeong, leading AIITONE’s global initiatives, said that their primary endeavor is to set up a Korean branch of the Royal Office. This branch will function as an international business hub, facilitating collaborations across three key sectors: security tokens, central bank digital currencies (CBDCs), and smart defense ventures.The event also featured presentations by AIITONE officials who introduced the company’s focus areas.Kang Man-soo, who leads AIITONE’s defense unit, highlighted the company’s technical expertise in maintenance training equipment, interactive electronic technical manuals, and integrated system support. He pointed out that AIITONE has been actively involved in the development of technical manuals and training simulators for various defense assets, including warships, guided weapons, and fighter aircraft. Kang emphasized that AIITONE’s strategic partnerships with Korean defense firms have propelled their engagement in initiatives aimed at exporting these products to countries such as Indonesia, Malaysia, and Poland.Lee Joo-hyung, the head of AIITONE’s extended reality (XR) content division, revealed the company’s plan to create portable products that can replicate the physical sensations of the real world, including sensations like physical contact and heat. Additionally, Lee introduced MOUM, a metaverse platform that features blockchain-powered security functions and generative artificial intelligence (AI) capabilities.Park Sang-il, who is at the helm of the firm’s security token project, showcased AIITONE’s comprehensive security token platform, which enables users to both issue and distribute security tokens. Notably, the platform is compatible with hyperledgers Besu and Fabric.Since arriving in Korea last Wednesday, the Royal Office has met with representatives from Standard Chartered Bank Korea and lawyers from law firm Kim and Chang, as well as lawmaker Yang Hyang-ja. Additionally, the Royal Office made a visit to smart farms located in South Jeolla Province.H.H. Sheikh Al Qassimi expressed a high regard for South Korea, acknowledging its beautiful natural landscapes and significant economic development. He underlined that this visit serves as an opportunity for the Royal Office to strengthen cooperation between UAE companies and their Korean counterparts, further fostering economic exchanges between the two countries.

Com2uS Holdings subsidiary Com2uS Platform has acquired a certificate of Personal Information and Information Security Management System (ISMS-P), an official certificate distributed by the Korea Internet and Security Agency (KISA), for its blockchain-based game development platform Hive.Photo by Towfiqu barbhuiya on UnsplashStreamlining game developmentHive allows developers to focus on content development by providing functions for game launch and operation in a single software development kit (SDK). It covers all systems needed to run a game, including billing, gameplay across multiple platforms, global login and verification, compliance, support, analytics, promotions, push notifications, community management and blockchain middleware. It is utilized in over 150 games and 41 corporate clients with some 100 million annual users. Robust security measuresTo receive the ISMS-P certification, companies are evaluated based on 101 different criteria, including organizational structure, management of employees and facilities, security of information processing systems and more areas related to handling personal information. "Com2uS Platform and Hive have established and promoted world-class security policies," said Choi Seok-won, CEO of Com2uS Platform. "We will continue to do our best to create an environment where users and customers worldwide can safely enjoy our content." Com2uS Platform also revealed that it runs an office dedicated to information protection, which manages data from Com2uS games and external clients. The company also strives to improve its technological capabilities for enhancing security and conducts annual company-wide training for all employees to raise security awareness. Since 2017, Com2uS Platform has retained its ISMS certification – similar to the ISMS-P but without personal information security standards – to safeguard the information of its users and customers.  

Bitstamp Raises Funds to Enable Asian Market ExpansionBitstamp, one of the world’s oldest cryptocurrency exchanges, is embarking on an ambitious endeavor to expand its services within the Asian market through a fresh funding round.Bloomberg reported on Monday that the firm’s CEO Jean-Baptiste Graftieaux, stated that “our current and exclusive priority is to raise money through strategic investors to accelerate Bitstamp’s growth by providing new products and services to retail and institutional crypto customers.”Photo by Markus Winkler on UnsplashDerivatives trading and Asian expansionIn accomplishing the funding round, the company is being guided by Mike Novogratz of Galaxy Digital Holdings. Bitstamp initiated its fundraising efforts in late June. The objective behind these efforts is to secure the capital required for launching derivatives trading in Europe by 2024 and to extend the platform’s reach across various markets in Asia. Moreover, Bitstamp has its sights set on fortifying its presence in the United Kingdom, seeking to establish a more robust footing there.Bitstamp’s current endeavors to amplify its operational scale are aligned with the company’s broader ambitions announced in 2018. This was the year when the firm was acquired by NXMH, a South Korean-backed entity.Not for saleBack then, Nejc Kodrič, one of Bitstamp’s co-founders, asserted that the intention was not to sell the company or actively seek investment. Nevertheless, the acquisition was realized, and Kodrič opted to cash out a majority of his Bitstamp stock while retaining a 10% stake and continuing as the CEO.Graftieaux was emphatic in clarifying Bitstamp’s intentions, stating that the company is not actively seeking to be acquired or to sell itself. This news arrives just a few months after Ripple acquired a minority stake in Bitstamp during the first quarter of 2023. Galaxy Digital played an instrumental role as an adviser throughout that transaction, which was publicly disclosed in late May.Coinciding with this news, Bitstamp has unveiled some trading restrictions for its US user base. Effective from August 29, the exchange will temporarily halt trading for tokens such as Axie Infinity (AXS), Chiliz (CHZ), Decentraland (MANA), Polygon (MATIC), NEAR Protocol (NEAR), The Sandbox (SAND), and Solana (SOL).This pause in trading activities has been attributed to “recent market developments,” with assurances that the ability to hold and withdraw these tokens will remain unaffected. All of the projects behind the tokens that Bitstamp is planning to halt the trading of have been named by the US Securities and Exchange Commission (SEC) as unregistered securities in its lawsuit against Coinbase.Slovenian rootsHaving originated in Slovenia in 2011, Bitstamp gradually evolved into a prominent force in the cryptocurrency trading landscape. Once an alternative to the then-dominant Bitcoin exchange, Mt. Gox, Bitstamp’s reach and influence have grown substantially. It currently stands as one of the world’s largest crypto exchanges, boasting a trading volume of approximately $127 million over a recent 24-hour period, according to data published by crypto data aggregator CoinGecko.The developments at Bitstamp demonstrate that the firm continues to refine its global strategy, extending its services and product offerings to various markets globally.