Japanese Crypto Exchange Zaif Adds KLAY/JPY and KLAY/BTC Trading Pairs

XPLA joins hands with Carbonated to spearhead mobile Web3 gaming eraXPLA, the layer 1 blockchain mainnet operated by South Korean gaming corporation Com2us Group, said Tuesday (local time) that it has entered into a strategic partnership with game developer Carbonated. Under the new deal, Carbonated plans to onboard its upcoming blockbuster games exclusively onto XPLA, pioneering a new landscape of global Web3 gaming.Photo by Jonas Leupe on UnsplashXPLA expands furtherThe XPLA mainnet hosts a diverse lineup of participants like Oasys, Animoca Brands, YGG, Blockdaemon, Cosmostation and LayerZero. These companies have been continuously onboarding their Web3 games such as Summoners War: Chronicles, Minigame Party, Ace Fishing: Crew, Idle Ninja Online and The Walking Dead: All-Stars. With Carbonated joining as the newest contributor, its portfolio has been further diversified.“Carbonated is a studio with world-class development capabilities,” said Paul Kim, the leader of the XPLA team. “Its upcoming project, with its Web3-optimized gameplay and global appeal, will significantly contribute to the expansion of the XPLA ecosystem.”Harnessing cutting-edge tech for Web3 game developmentEstablished in 2015, Carbonated boasts a team of developers and industry veterans from major gaming companies such as Electronic Arts, Zynga and Blizzard who focus on creating immersive mobile games that are optimized for the Web3 market using artificial intelligence (AI) technology and their own live-ops tech stack called Carbyne. Recognized for this innovative approach to game development, the company received Series A funding worth a total of $8.5 million from several investors like Andreessen Horowitz (a16z) and Golden Ventures. Its newest game, notable for its high-quality graphics and compelling storyline, is scheduled for global release in the first half of next year.

Following December's release of proposed fiat-referenced stablecoin regulations, the Hong Kong Monetary Authority (HKMA) has progressed further with the introduction of a stablecoin sandbox.Photo by Nextvoyage on PexelsFormulating a regulatory regimeThe regulatory sandbox, announced through a press release published to the regulator’s website on March 12, encompasses stablecoin currencies beyond the Hong Kong dollar, although the HKMA refrained from specifying particular currencies. Eddie Yue, CEO of the HKMA, emphasized the sandbox's role as a platform for constructive dialogue between the regulatory authority and the industry. Yue stated:"The sandbox arrangement serves as an effective channel for the HKMA and the industry to exchange views on the proposed regulatory regime.”Yue further noted that such engagement is pivotal for formulating regulatory requirements conducive to the sustainable and responsible growth of the stablecoin issuance business. The stablecoin sandbox finds its digital footprint within the International Financial Centre on the HKMA's website. The documentation accompanying the sandbox outlines several key requirements for potential participants. These include demonstrating genuine interest and a feasible plan for issuing fiat-referenced stablecoins in Hong Kong, as well as a concrete strategy for engagement within the sandbox. Additionally, applicants must exhibit a reasonable prospect of compliance with the proposed regulatory framework. Minimum capital requirementsOne notable regulation proposed stipulates that issuers must be Hong Kong-based entities with a minimum capital requirement of HK$25 million ($3.2 million) or 2% of the stablecoin issuance, whichever is higher. The HKMA remains vigilant regarding public announcements by sandbox participants, ensuring that such declarations do not misconstrue endorsement or accreditation from the regulatory authority. In late January, reports suggested discussions between Harvest Global Investment, RD Technologies, Venture Smart Financial Holdings and the HKMA regarding their potential entry into the sandbox. Harvest Global Investment, boasting over $200 billion in assets under management, signifies a significant player in this evolving digital assets space.RD Technologies took to the X social media platform to publicize its approval of the HKMA’s stablecoin sandbox. It also availed of the opportunity to outline that it’s in the process of launching a Hong Kong dollar (HKD)-based stablecoin, which will be known by the short-code HKDR.Hong Kong-based fintech firm AnchorX also chimed in, stating that the sandbox is “a pivotal step forward for the industry, enabling informed dialogue and collaboration between regulators and fintech innovators.” Like RD Technologies, AnchorX is also looking to get involved in the stablecoin business, having developed the AxHKD Hong Kong dollar-based stablecoin, which it is currently beta testing, in collaboration with Conflux Network. Juan Leon, crypto analyst with Bitwise Asset Management, suggested that the move is a great initiative, while calling on the U.S. Federal Reserve Chair Jerome Powell to follow Hong Kong’s example. On the tokenization front, Hong Kong made headlines in 2023 with the issuance of the world's largest native digital bond — a green bond exceeding $750 million. Late last year, it also proposed regulations relative to tokenization of real-world assets.Guidance provided to banks on tokenization, coupled with plans for forthcoming legislation, further solidifies Hong Kong's position as a trailblazer in the realm of digital finance.  

Sui Token Debuts on Korea’s Top Five Crypto ExchangesThe native token of Sui, a layer 1 blockchain platform, has debuted on South Korea’s five leading cryptocurrency exchanges — Upbit, Bithumb, Coinone, Korbit, and Gopax. This marks the first time a token has been listed simultaneously on all five exchanges, according to Korean news agency Newsis.Photo by Sigmund on UnsplashAptos’ successThe decision by these exchanges to list Sui may have been influenced by the success of the APT token, which belongs to Aptos, another scalable layer 1 blockchain platform also developed by former Meta employees. APT was listed on Binance two days after the launch of the Aptos’ mainnet on October 17 last year, and its price skyrocketed to $100 on the first day, a hundred times its listing price. Within a week, the trading volume of APT reached $1.3 billion.Sui’s mainnet launchWith the launch of its mainnet on May 3, Sui is garnering significant interest in the crypto sphere. An official from a notable Korean venture capital firm told Newsis that Sui and Aptos, both developed with the Move programming language, involve many top-tier investors and are highly anticipated by ecosystem participants.