Dunamu Helps Adolescents Tell the Difference between Blockchain and Bitcoin

OSL Group, a publicly-listed digital asset and blockchain platform company headquartered in Hong Kong, is set to acquire Indonesia’s Evergreen Crest Holdings.Photo by Kelly Sikkema on UnsplashAs the proposed acquisition of Evergreen Crest, a business that includes a virtual assets exchange platform, will involve a share transaction, OSL filed details of the acquisition with the Hong Kong Stock Exchange on June 2. OSL will take a 90% stake in Evergreen Crest in return for $15 million worth of consideration shares, which will be issued by OSL to the seller. This share issuance will account for 1.48% of the total issued shares in the company. Once the acquisition goes through, Evergreen Crest will become a subsidiary of OSL Group, with Evergreen’s financial results consolidated into the overall financial statements of OSL going forward.  ‘Strategic benefits’The filing suggests that OSL management believe that the acquisition “will bring substantial strategic benefits to the Group,” as it opens up access for the company to the Indonesian digital asset market. The company is optimistic about the outlook for the Indonesian crypto market. It stated: “Indonesia possesses key attributes conducive to growth in this sector, including a substantial and youthful demographic, robust economic growth fundamentals, and a rapidly increasing rate of cryptocurrency adoption.” Acquiring licensesOne interesting aspect of the acquisition is that Evergreen Crest has acquired the requisite licensing to operate within the Indonesian market. Those cryptocurrency and futures trading licenses are likely to be of significant value to OSL as it means that through the acquisition, OSL can now enter the Indonesian market in a fully compliant manner. Using the existing compliant platform, OSL intends to expand the range of services offered within the Indonesian market. It indicated that it would do so in respect of payment finance (PayFi) and tokenized real-world asset (RWA)-related products and services, subject to acquiring the necessary licensing. OSL is encouraged by the opportunity that exists within Indonesia as far as tokenized RWAs are concerned. It claimed that the country has already demonstrated significant tokenized RWA-related activity. PT Multikripto Exchange Indonesia (also known as Koinsayang), the exchange business owned by Evergreen Crest, was awarded a virtual asset trading license by the Indonesian regulator, the Financial Services Authority (OJK), in March. At the time, the exchange outlined that it intended to expand its service reach, while creating a better trading experience for users located within Indonesia and overseas. In September 2024, the exchange was awarded a license to offer crypto asset perpetual futures contracts by Indonesia’s Commodity Futures Trading Supervisory Agency (Bappebti).  OSL expanding its reachOSL appears to be making a concerted effort to expand beyond its Hong Kong base. In February it acquired CoinBest, a Japanese crypto exchange, rebranding the business as OSL Japan. At the time it was reported that the company was also looking at opportunities to expand in European markets. OSL was amongst the first digital asset exchange platforms to be licensed in Hong Kong, receiving Type 1 and Type 7 licenses from the Securities and Futures Commission (SFC) in December 2020.

Haechi Labs Joins Hands with Oasys for Entry into Japanese MarketHaechi Labs, a South Korean blockchain service and digital wallet provider, announced Thursday that it has signed a business deal with Japanese blockchain gaming platform Oasys to establish a footing in the Japanese market.Photo by Erika Fletcher on UnsplashFostering collaborationThrough the new partnership, the companies plan to share their technical expertise and promote mutual growth. In particular, Haechi Labs’ digital wallet, Face Wallet, will be onboarded on the Oasys mainnet. This integration will allow Oasys users to easily access Web3 services using their existing social media accounts. Face Wallet supports login through various social media platforms such as Google, Discord, Twitter, Facebook, Apple, and Kakao, thereby reducing entry barriers for users who are new to Web3.Haechi Labs will also provide a software development kit (SDK) for Face Wallet, enabling game developers operating their games on the Oasys platform to integrate the wallet into their services.“We expect that Face Wallet’s integration into the Oasys mainnet will streamline the onboarding process for Web3 games,” said Moon Geon-gi, CEO of Haechi Labs. “We will continue to pursue close cooperation with various companies in the future.”Gaming focusOasys’ multi-layered blockchain network is centered around gaming, consisting of a built-in L2 scalability solution. It has worked with various major gaming companies such as SEGA, Ubisoft, Bandai Namco, Nexon, and Netmarble, who participate in the network as validator nodes.

South Korean entertainment production company Blade Entertainment has signed a memorandum of understanding (MOU) with Cardo, a firm specializing in custodial services for digital assets, to start a tokenized securities business, according to local news outlet Newspim on Wednesday. Blade Entertainment revealed plans to leverage its IP and content distribution rights to issue fractional investment-based tokenized securities based on underlying assets like waste landfills, electroceuticals and digital therapeutics.Photo by Verne Ho on UnsplashForging the future to tokenized securities"We will do our best to become a leader in tokenized securities by securing various underlying assets and building technology to facilitate valuation modeling for those assets," said Choi Young-in, head of the STO (security token offering) department at Blade Entertainment. "Through this agreement, we will cooperate in multiple ways with Cardo, who has expertise in blockchain and an understanding of financial products, to list our tokenized securities on the Korea Exchange’s (KRX) new securities market."  This market refers to an on-exchange market for new securities based on fractional investments that was recently designated by the South Korean Financial Services Commission (FSC) as a service under the financial regulatory sandbox system, according to a press release on Dec. 13.  The regulatory sandbox is a system run by the Korean government that exempts or suspends existing regulations for a designated amount of time for companies releasing new products and services and regulates them post-mortem if there is a problem.  Strategic collaborationBlade Entertainment said that it sought out Cardo – whose investors include one of South Korea’s major banks Nonghyup Bank – as a business partner to carry out this endeavor due to its accumulated knowledge and expertise in the blockchain sector. Cardo has also previously demonstrated its capabilities in the security token business by providing fintech solutions to financial service firm Galaxia Moneytree. "Currently, due to issues with the valuation of token securities, it is not easy for businesses in this area to operate smoothly, but we plan to issue and distribute tokenized securities of various assets soon," said Sohn Kyung-hwan, CEO of Cardo. "Based on the know-how we’ve accumulated from the two contracts we signed this year agreeing to supply security tokens platforms, we will actively help Blade Entertainment with the planning, design and platform construction of their security token venture to help establish a successful service."