LH Leverages Blockchain to Certify Legally Important Documents

Klaytn and Incheon City’s NFT Project Set to Bring Blockchain to the PublicThe Klaytn Foundation, a non-profit organization backed by South Korean messaging giant Kakao, announced Tuesday (local time) a new collaboration with the city of Incheon to launch the Incheon Universe NFT project on the Klaytn blockchain.Photo by joon young, Park on PexelsNFTs representing seals and lighthousesSet to be issued on Wednesday, these non-fungible tokens (NFTs) are based on Incheon Heroes characters, which draw inspiration from seals, one of the country’s endangered species, and lighthouses, seen as guardians of the sea. The Incheon Universe NFT project will harness the online metaverse and decentralized autonomous organizations (DAOs) to create a space where residents can connect, sharing their preferences and values. Additionally, the project seeks to enhance the pride of those living in Incheon.The Incheon Universe NFT project is set to kick off on October 25, marking the inaugural minting of Incheon Heroes NFTs on the Klaytn blockchain. These NFTs will also serve as membership passes. For this initiative, the Klaytn Foundation has been offering technical assistance and advice.Fee delegation featureThe foundation and Incheon City plan to leverage the fee delegation feature to remove the burden of a small transaction fee typically associated with NFT minting. This move is intended to lower the entry barrier for individuals unfamiliar with participating in blockchain projects. Incheon is also orchestrating in-person events catered to NFT holders. The city is also in discussions with the Klaytn Foundation, mobile carrier LG Uplus, media commerce entity Lotte Homeshopping, marketing solutions provider Daehong Communications, and others for more collaborative endeavors.Commenting on the collaboration, Lee Se-woong, Brand Manager of Incheon City, emphasized how both parties benefit from the partnership. While the Klaytn Foundation has been at the forefront of collaborations in the global blockchain scene, leading various projects, Incheon is positioning itself for new initiatives in the Web3 era. Lee sees this partnership as a major boost for the city.Seo Sang-min, the Klaytn Foundation’s Representative Director, mentioned that the foundation is committed to working closely with the city to ensure the success of the Incheon Universe NFT project as a city-driven blockchain initiative. He emphasized that Klaytn aims to help more people experience firsthand the benefits of Web3 technology.Incheon has been at the forefront of driving blockchain initiatives. Among its recent undertakings is the Global Blockchain Incheon Conference (GBIC 2023), which is slated for October 30 to 31. The event will highlight presentations from renowned speakers representing blockchain entities like Polygon Labs, Crypto.com, and the Astar Foundation.

Thailand's Securities and Exchange Commission (SEC) has approved the leading U.S. dollar stablecoins USDT and USDC, expanding its list of approved cryptocurrencies within the Southeast Asian country.Photo by Tarun Ottur on UnsplashListing on regulated exchanges The approval was announced in a statement published on the SEC website on March 6. It means that Tether’s USDT and Circle’s USDC can now be listed on regulated exchanges in Thailand. The regulator had arrived at its decision to add the two stablecoins following a public consultation process regarding regulatory changes. Those changes were finalized last month and will now proceed to go into effect on March 16. The two stablecoins join five cryptocurrencies that had previously been approved. These include Bitcoin (BTC), Ethereum (ETH), Ripple (XRP) and Stellar (XLM). Certain cryptocurrencies are also being used for the testing of payment settlement through the Bank of Thailand’s Programmable Payment Sandbox.   A regulatory sandbox is a controlled environment testing ground for products and services developed within the private sector. Back in June of last year, the Southeast Asian country’s central bank launched an enhanced regulatory sandbox focused on programmable payments.  USDT issuer Tether responded to the addition of its stablecoin within the approved cryptocurrency list, stating: “This approval enables USD₮ to be traded within the country, facilitating its listing on regulated exchanges and paving the way for USD₮ to be accepted for payments, which advances the region’s leadership in digital asset innovation.” Tether CEO Paolo Ardoino said that the company sees value in the Thai market and with that, it intends to continue to explore ways to broaden its service offering within Thailand. He added:  “We are committed to supporting the long-term success and adoption of stablecoins in Thailand and look forward to contributing to the growth of the country’s digital asset ecosystem by fostering a strong and sustainable stablecoin infrastructure.” Stablecoin market growth According to DeFi data aggregation platform DefiLlama, the stablecoin market now stands at $227 billion in terms of market capitalization. This represents a 68% increase by comparison with the size of the market in 2023. It indicates that stablecoin adoption is on an upward growth trajectory. Digital assets are being used in many instances to facilitate international payments and remittances, particularly in emerging markets. In Europe, American investment bank JPMorgan recently forecasted that the introduction of the Markets in Crypto-Assets (MiCA) regulation will drive euro-pegged stablecoin growth.  Meanwhile, in the United States, S&P Global Ratings recently identified that a current lack of stablecoin regulation is acting as a barrier to broader institutional use. The company anticipates adoption growth once regulatory clarity has been achieved. Vlad Tenev, CEO of commission-free investing platform Robinhood, stated last month on Yahoo Finance’s Opening Bid podcast that stablecoin legislation will be passed in the U.S. in 2025. Tenev believes that applying a 4% interest rate to stablecoins would lead to a greater rate of adoption.

The Japan Exchange Group (JPX), operator of the Tokyo and Osaka stock exchanges, is considering measures to curb the expansion of publicly listed digital-asset treasury (DAT) firms, according to sources speaking to Bloomberg. JPX is reportedly exploring various regulatory avenues, ranging from tightening backdoor listing rules to mandating new audits for applicable firms. Following recent scrutiny from the exchange, three Japanese public companies have suspended their cryptocurrency purchase plans since September. These firms were reportedly warned that pursuing crypto investment as a core strategy could restrict their ability to raise future capital. While JPX currently lacks binding regulations explicitly prohibiting listed companies from accumulating digital assets, a representative stated that the exchange is monitoring firms with potential governance and risk issues to protect the interests of shareholders and investors.Photo by Su San Lee on UnsplashMetaplanet responds to regulatory concernsFollowing the Bloomberg report, Metaplanet, a Japanese public company that has adopted a Bitcoin accumulation strategy similar to that of the American firm Strategy, issued a clarifying statement. The firm asserted that it "has not been subject to any regulatory actions or investigations by relevant authorities concerning our business operations." Metaplanet emphasized its willingness to engage in constructive dialogue with regulators should any inquiries arise. According to BitcoinTreasuries.net data, Metaplanet is currently Japan’s largest corporate Bitcoin holder and ranks fourth globally among public companies, trailing only Strategy, MARA Holdings, and XXI. The extent of the firm’s commitment to this strategy was highlighted by Shinpei Okuno, Metaplanet’s Head of IR and Capital Strategy, who shared the company’s holdings via X. Balance sheet data as of September 30, 2025, reveals that Bitcoin accounts for 99% of Metaplanet’s total assets, 542.7 billion yen out of 550.7 billion yen. Okuno noted that the company aims to maintain a balance sheet structure that supports the issuance of digital credits collateralized by its crypto holdings. Market performance and sector outlookThe stock performance of DAT firms highlights the market's reaction to these risks. According to Yahoo Finance data, Metaplanet’s share price has declined 40.29% over the past six months to 372 yen. This drop outpaces Bitcoin’s 8% decline over the same period. This downward pressure is visible across the broader DAT sector. Decrypt reported that Strategy's stock has fallen 50% from its July peak, while SharpLink, which invests in Ethereum, has dropped nearly 90%. Data from StrategyTracker indicates that the market-net-asset values (mNAVs) of these firms have slipped to near or below 1, reflecting depressed valuations. Analysts warn that low mNAVs complicate capital raising efforts, potentially forcing these firms to liquidate crypto holdings to cover operating expenses. At the same time, the analysts acknowledged possible tailwinds. Fakhul Miah, Managing Director at GoMining Institutional, told Decrypt that Bitcoin-oriented DATs generally outperform those investing in multiple, higher-risk crypto assets. He suggested that if U.S. economic data indicates easing inflation and the Federal Reserve cuts rates in December, Bitcoin could rally. Yaroslav Patsira, Fractional Director at CEX.IO, echoed this sentiment, noting that the outlook for DATs is tied closely to Bitcoin’s potential upside. Taking a longer-term view, Decrypt noted that despite the recent pullback, crypto-related equities have shown strong year-to-date (YTD) performance relative to the underlying asset. Galaxy Digital is up 73.4% and SharpLink 43.2% YTD, compared to Bitcoin’s 8.6% gain, suggesting the current correction is taking place within a broader uptrend. Japanese stablecoin push faces U.S. resistanceBeyond the equity markets, Japanese crypto initiatives are also encountering regulatory friction in the U.S. Decrypt reported that a coalition of small U.S. banks has formally objected to a bid by Connectia Trust, a proposed subsidiary of Sony Bank, to issue dollar-backed stablecoins in the U.S. Sony Group’s banking arm last month applied to the Office of the Comptroller of the Currency for a national trust charter to facilitate these issuances. The Independent Community Bankers of America (ICBA) argues that the Japanese institution is attempting to exploit regulatory gaps to avoid the oversight applied to traditional banks, noting that Connectia’s stablecoin bears similarities to bank deposits. However, Kadan Stadelmann, CTO of Komodo Platform, offered a different view, telling Decrypt the concerns are “overstated and driven by big-bank interests.” As Connectia’s application undergoes U.S. regulatory review, it has once again exposed the underlying divide between established banking interests and crypto-native approaches to financial services, particularly around how stablecoin issuers should be overseen.