Dunamu Helps Adolescents Tell the Difference between Blockchain and Bitcoin

Acquisition by SBI Subsidiary Part of European ExpansionB2C2, a cryptocurrency liquidity provider catering to institutional clients and a subsidiary company of Japanese financial services conglomerate SBI Holdings, has solidified its foothold in the digital assets market by completing the acquisition of Woorton, a prominent European market maker and over-the-counter (OTC) transaction specialist.Photo by Christian Lue on UnsplashMarket expansionIn a press release published to its website on Thursday, UK-based B2C2 outlined further details relative to the acquisition. The move represents an effort by B2C2 to broaden its client base and expand within the European market, ahead of the forthcoming regulations under the Markets in Crypto-Assets Regulation (MiCA).The acquisition opens doors for B2C2 to extend its services within the European Union (EU) jurisdiction. Additionally, it allows B2C2 to tap into growth opportunities beyond its existing strongholds in the United Kingdom, Asia-Pacific (APAC), and the United States.Licensing accessOne of the prime advantages of this acquisition is B2C2’s access to Woorton’s prestataires de services sur actifs numériques (PSAN) license, which is regulated by the Autorité des Marchés Financiers (AMF), the French financial regulatory authority. This license empowers B2C2 to operate seamlessly within the EU, positioning the company for a strategic advantage in the evolving regulatory landscape.As the UK is no longer part of the EU, this acquisition makes for a much easier entry point for the company into the broader European market.Founded in 2017, Woorton boasts an active clientele of nearly 250 entities engaged in trading 96 different cryptocurrencies. The company distinguishes itself by offering round-the-clock liquidity provision, ensuring uninterrupted trading opportunities for its clients.Woorton’s engagement with regulatory bodies is a key highlight, and the firm is a co-founding member of the Association for the Development of Crypto-Assets (ADAN). Through ADAN, Woorton actively contributes to shaping regulatory frameworks governing digital assets in France, bridging the gap between the industry and policymakers.Additionally, the company played a crucial role in establishing Paris Blockchain Week, an internationally recognized event that brings together thousands of attendees and speakers to discuss blockchain and digital asset trends.Charlie Meraud, CEO of Woorton, expressed excitement about the acquisition, emphasizing the complementary strengths of the two firms. Meraud highlighted the enhanced liquidity pool and improved market presence that the combined platform would offer to customers, ultimately leading to a superior liquidity and trading experience.B2C2’s CEO, Nicola White, described the acquisition as a significant milestone in the company’s growth journey. White expressed enthusiasm about the potential the acquisition unlocks for B2C2 and its EU-based clients, reaffirming the importance of regulatory standing and a robust client base.London baseEstablished in 2015 and primarily owned by SBI, B2C2 operates from its main headquarters in the UK, with operational offices in the US and Japan. Its UK-registered company B2C2 Ltd serves as the parent entity within the B2C2 group of companies.B2C2’s acquisition of Woorton not only enhances its presence within the European Union but also serves to demonstrate its intent in terms of regulatory compliance and industry leadership. This strategic move positions the company to navigate the evolving crypto market, likely leading to greater opportunities for its clients.

Libeara gears up to offer tokenized Singapore dollar government bondsStandard Chartered’s fintech investment subsidiary SC Ventures has unveiled Libeara, a platform set to cause a stir with the introduction of the first-ever tokenized Singapore-dollar government bond fund.Once launched, the offering would provide for a significant departure from traditional bond funds, offering a sleek and digital twist to the stable investment option. There’s no fixed date for the product offering as yet, as it will need to be approved by the local regulator, the Monetary Authority of Singapore (MAS).Photo by Zhu Hongzhi on UnsplashGreater accessibility and liquidityLibeara’s emergence signifies yet another instance of the convergence of traditional financial instruments in combination with blockchain technology. Through the tokenization of government bonds, Libeara not only aligns with the evolving preferences of modern investors but also promises greater accessibility and liquidity in the bond market.Within Libeara’s distributed ledger-based innovation, each token mirrors a unit of the bond fund, embodying its value and ownership rights. This approach streamlines the investor experience, ensuring a seamless process from onboarding to subscription and redemption of tokenized units. Libeara’s model addresses historical inefficiencies, enhancing the efficiency, transparency and security of bond trading that has long been plagued by cumbersome processes and intermediaries.Aaron Gwak, Founder and CEO of Libeara, provided further details on the new startup’s market offering:“This will be the first time a Singapore-dollar government bond fund will be offered in token format. At Libeara, we care deeply about not only creating a token representing an asset but also about how close the token is to the actual asset. Ensuring that FundBridge’s investors can buy native tokens, where each token represents a unit of the fund, is central to the infrastructure of the tokenisation solution that we have created for FundBridge.”Catering to accredited investorsLibeara’s product proposition caters to accredited investors and is positioned as a collaborative effort with industry leaders. The new start-up is emerging in Singapore, wholly owned by SC Ventures while partnering with FundBridge Capital, both headquartered in the city-state.The firm has partnered with enterprise-grade platform Fireblocks for digital asset infrastructure. There’s further Singaporean involvement by way of partnerships with local entities such as digital assets services group Fazz and digital asset payments infrastructure firm StraitsX for crypto-to-fiat conversions. Chainalysis has been contracted for its on-chain AML capabilities, Hong Kong’s Chekk for KYC solutions and local firm Letsbloom for cloud deployments and compliance.Sue Lynn Lim, CEO and COO of FundBridge Capital, emphasized the transformative potential of the venture, stating:“By partnering with Libeara, we are ensuring that we can provide additional investment opportunities enabled by lower operating costs, higher transparency and higher operational efficiency.”The move not only involves creating a digital representation of an asset but reimagining the asset itself in a digital format for increased accessibility, ease of trade and potential profitability.

South Korean FIU rejects Hanbitco’s bid to become fiat-to-crypto exchangeWhile numerous cryptocurrency-only exchanges in Korea have been vying for registration as fiat-to-crypto exchanges with the financial regulator, the government has turned down another platform’s attempt to achieve this status.Photo by Dim Hou on UnsplashUnmet standardsAccording to a report from local news provider MoneyToday, the Financial Intelligence Unit (FIU) of the Financial Services Commission (FSC) recently convened a committee that decided against approving Hanbitco’s request to change its business status. Industry sources suggest that this decision was based on Hanbitco’s inability to meet the standards set by the Act on Reporting and Using Specified Financial Transaction Information, often referred to as the Financial Transaction Reporting Act.Fine and cautionary orderA person familiar with the matter that the committee started deliberating on Hanbitco’s request to alter its business status about two weeks ago and ultimately decided against it. A significant factor in this decision might have been the KRW 2 billion ($1.49 million) fine levied on Hanbitco, stemming from numerous violations found in recent on-site inspections, the source added.Before approaching the FIU with its request, Hanbitco formed a partnership with Kwangju Bank in June to obtain real-name accounts, facilitating Korean won deposits and withdrawals. Achieving this is quite uncommon for a crypto-only exchange. In Korea, exchanges are legally required to have real-name bank accounts for trading in Korean won. Presently, only five platforms hold registration as fiat-to-crypto exchanges: Upbit, Bithumb, Coinone, Korbit and Gopax, each having its own banking partnership.As per the details released by the FIU, besides the levied fine, Hanbitco was issued a cautionary order, and five of its employees faced reprimands.The fine of KRW 2 billion is the heaviest handed out to a virtual asset service provider from on-site inspections held between last year and the first half of this year. For perspective, Upbit, the country’s largest crypto exchange, was fined KRW 80 million.An FIU representative noted that during the evaluation of Hanbitco’s application to transition into a fiat-to-crypto exchange, factors such as the firm’s anti-money laundering (AML) protocols, its internal control systems and past sanctions played a role in the decision-making process.