XPLA Welcomes Mobile Game Idle Ninja Online on Its Mainnet

The Financial Services Regulatory Authority (FSRA), a regulatory body within the Abu Dhabi Global Market (ADGM) economic free zone and financial center in the United Arab Emirates (UAE), has fully approved USD₮, the world’s leading U.S. dollar stablecoin by market cap, as an accepted virtual asset (AVA).Photo by DrawKit Illustrations on UnsplashPre-approved USDT servicesUSDT issuer Tether publicized details of the approval via a statement published to its website on Dec. 10. The company outlined that the approval means that “Authorised Persons” operating and licensed by the FSRA can offer pre-approved services related to USDT. The company stated that the approval facilitates the integration of USDT into regulated financial ecosystems in Abu Dhabi while also claiming that the move helps to advance the region’s leadership relative to digital asset innovation. The FSRA has acknowledged acceptance of the leading stablecoin with recognition of its issuance on various blockchains including Ethereum, Solana and Avalanche. Validating the importance of stablecoins With the ADGM regulator now fully accepting and recognizing the stablecoin, Tether CEO Paolo Ardoino said that the move goes beyond just “validating the importance of stablecoins as critical tools for modern finance,” as he believes it opens the door for collaboration and growth across the Middle East. Stablecoins are increasingly playing a significant role in bridging the gap between traditional finance (TradFi) and the Web3 sector. In October, crypto asset fund manager Bitwise identified a number of key insights that point to the ongoing development and use of stablecoins.  It outlined that the top five stablecoin projects are currently holding more U.S. Treasury bonds than some G20 countries. Tether recorded profits last year that surpassed those of BlackRock, the world’s largest asset manager. Bitwise identified that leading payments firms like Visa are adopting stablecoins and incorporating them into their platforms for the purpose of effecting transactions. A month prior to that, Wall Street investment bank Bernstein highlighted the fact that stablecoins are playing an increasingly important role relative to the global financial system as a whole.  It’s thought that this latest development in Abu Dhabi may act as a further driver of USDT’s market cap. At the time of writing, the stablecoin asset had a market cap in excess of $140 billion. Its inclusion as an AVA reinforces the crypto asset’s position as the most used stablecoin within the industry. AE Coin licensing In a further boost for further roll-out of stablecoins in the Middle East, the Central Bank of the UAE (CBUAE) awarded the final license to fully approve AE Coin, a UAE dirham-denominated stablecoin. Commenting on the development, AE Coin General Manager Ramez Rafeek said, "AE Coin harnesses the speed and efficiency of blockchain technology, offering instant, secure, and cost-effective transactions. It simplifies transfers, making them faster and more seamless." In an effort to bring about greater adoption of the stablecoin, the AE Coin project intends to engage in partnerships with payment gateways, financial institutions and technology providers going forward. Tether also has plans to launch a dirham-backed stablecoin, having recently partnered with UAE-based entities to bring that about.

Real-World Asset Investment Platform Alterna Launches in JapanMitsui & Co. Digital Asset Management (Mitsui & Co. DAM) has unveiled Alterna, a novel platform designed to offer retail investors the chance to invest in real-world assets (RWAs). The service launched on Monday following receipt of the necessary regulatory approvals.Photo by Louie Martinez on UnsplashRWA-backed security tokensAlterna enables users to conveniently invest in RWAs that generate stable rental income and other returns. RWAs encompass a wide range of assets, including large-scale real estate properties and infrastructure such as logistics facilities and power plants. By offering security tokens, Alterna opens the door to previously out-of-reach investment opportunities, allowing individuals to invest with a minimum of 100,000 yen. This new service represents an exciting alternative for individuals traditionally more comfortable with cash savings.The first investment opportunity on the platform will be “Stage Grand Nihonbashi Ningyocho,” a residential building located in the Nihonbashi district. The application begins on June 2.The platform’s name, Alterna, emphasizes its role as an alternative investment service, offering a fresh approach distinct from conventional options such as bank deposits, stocks, and investment trusts.More effective portfolio managementCompared to traditional investment types like stocks and bonds, RWAs offer unique risk-return characteristics. With RWA-backed investments, investors can potentially achieve more effective portfolio management. These alternative assets have been garnering interest from institutional investors as well.The Japanese Government Pension Investment Fund (GPIF), the world’s largest institutional investor, has been investing in alternative assets since 2014. To pursue yields, the GPIF has been expanding its investment portfolio in real assets like real estate and infrastructure.Easy investment with smartphonesTraditionally, retail investors encountered difficulties investing in large-scale real estate and infrastructure assets. Mitsui & Co. DAM aims to establish an environment where such investments can be made easily via security tokens using smartphones.Interest in Alterna has been substantial even before its official launch, with over 10,000 pre-registrations recorded earlier this month.

NEOPIN wallet users gain access to Pala’s NFT marketplaceNEOPIN, a centralized decentralized finance (CeDeFi) platform, has entered into a strategic partnership with South Korean NFT marketplace Pala. This collaboration aims to connect the NEOPIN wallet to Pala’s NFT trading platform, thereby facilitating a more interconnected blockchain ecosystem on a global scale.Photo by Pete Linforth on PixabayNEOPIN wallet integrated into PalaThis partnership paves the way for enhanced user experience, as NEOPIN wallet holders will have the added convenience of trading non-fungible tokens (NFTs) directly on Pala using the virtual assets in their NEOPIN wallets. Furthermore, these wallets will also serve as a repository for purchased NFTs.Additionally, Pala stands to benefit from access to NEOPIN’s international users who have gone through the Know Your Customer (KYC) and anti-money laundering (AML) checks, broadening its market reach.Growing network connectionsNEOPIN is set to aid Pala in establishing connections with NEOPIN’s network of NFT partners. Conversely, Pala will assist NEOPIN with introductions to Pala’s blockchain partners. This collaborative approach leverages their respective strengths, setting the stage for a synergistic relationship.Additionally, the collaboration will involve concerted efforts from both parties to enhance their services and broaden their customer reach. Part of this initiative includes aiding Web2 companies and projects in their Web3 endeavors, as well as rolling out products that are underpinned by real-world assets (RWAs) or offer practical real-life benefits.NEOPIN CEO Kim Yong-ki expressed enthusiasm about the partnership, noting that it is poised to be mutually advantageous, particularly since trust and convenience are core values shared by both companies. Kim further emphasized their commitment to achieving success on an international level, not only through service cooperation but also by utilizing their respective ecosystems.Jason Pyo, CEO of Pala, echoed a similar sentiment, stating that the partnership is set to propel service enhancement, foster the growth of blockchain businesses and contribute to the expansion of the Web3 ecosystem.It’s noteworthy that Pala is a joint venture established by Snow, the mobile video messaging app subsidiary of internet giant Naver, and artificial intelligence (AI) company Alchera. This joint enterprise has claimed a leading position in the Korean NFT trading arena, having exceeded an accumulated trading volume of KRW 30 billion ($23 million) as of April last year.The Pala platform serves as a one-stop shop for NFT services, including NFT minting, secondary market sales and launchpads. It accommodates a range of blockchains like Klaytn, Ethereum and Polygon.NEOPIN has been expanding its offerings to improve user experience, introducing services beyond its DeFi suite. This includes their NFT wallet capabilities. Following its announcement last year to intensify focus on NFT initiatives, NEOPIN has updated its wallets to support multiple NFT standards, such as KIP-17, ERC-721 and EIP-5192.