Binance Set For Japanese Market Re-Entry With 34 Token Listings

South Korean blockchain firm Ozys announced today that it has entered into a strategic partnership with Creder, a company dedicated to integrating traditional assets into the blockchain realm, to tokenize physical assets like precious metals into real-world assets (RWAs), according to Korean news site Digital Today on Thursday (KST). "Gold is one of the major RWA assets as the market value of assets linked with physical goods is increasing in the global market. We will take a transparent approach in expanding the RWA token ecosystem and showcase our business performance through our cooperation," said Lim Dae-hoon, CEO of Creder.Photo by Jingming Pan on UnsplashDriving innovationAs a member of the Klaytn ecosystem, internet juggernaut Kakao’s blockchain, Ozys operates platforms like Allbit.com, a layer 2 decentralized exchange (DEX), and a cross-chain token transfer platform dubbed Orbit Bridge. The firm utilizes blockchain-based technologies like smart contracts and Inter-Blockchain Communication (IBC) to develop and run its platforms. Meanwhile, Creder is currently working on The Mining Club, a project that mints solid gold into NFTs for safe storage and transfer. The gold NFTs are available for purchase on the NFT marketplace OpenSea. It is also developing Gold Station, a platform that allows for the digitized purchase, storage and investment of gold through the Gold Pegged Coin (GPC). GPC is a physical gold-based RWA issued on the Klaytn network. Expanding the scope of Web3The two companies will work together to onboard GPC to KLAYswap – Klaytn’s on-chain swap protocol – which will be issued via smart contract on Jan. 3. The two companies also plan to tokenize other precious metals like silver, copper and palladium. By combining physical assets and blockchain technology, the companies aim to expand the Web3 ecosystem and lead next-generation markets. "The tokenization of gold, which is considered a safe asset, is expected to diversify the Web3 ecosystem," said Choi Jin-han, CEO of Ozys. "We plan to explore various collaborations with Creder, starting with the onboarding of the gold-based token GPC on KLAYswap."

JPMorgan Adopts Blockchain for 24/7 Interbank Transactions in IndiaAmerican multinational financial services company JPMorgan Chase has partnered with six major Indian banks to introduce a blockchain-based platform that leverages the technology’s benefits to address the restraints of traditional finance.Photo by Naveed Ahmed on UnsplashInterbank settlementThe collaboration aims to enable interbank settlement of US dollar transactions in India’s Gujarat International Finance Tec-City (GIFT City), positioning it as an alternative trading center to Singapore and Dubai. That’s according to a report from Bloomberg, published on Monday. The participating banks in this pioneering initiative include HDFC Bank, ICICI Bank, Axis Bank, Yes Bank, IndusInd Bank, and JPMorgan’s own banking unit at GIFT City.Onyx blockchainThe blockchain project, utilizing JPMorgan’s Onyx platform, aims to expand the capacity of the existing settlement system. Kaustubh Kulkarni, JPMorgan’s senior country officer, stated that the platform will enable the participating banks to process instant transactions 24 hours a day, seven days a week. By leveraging blockchain technology, the interbank settlement process will become faster and more efficient, overcoming the current limitations of time and availability.Onyx blockchain was established in 2020 and serves as JPMorgan’s digital assets network. It was specifically designed with interbank settlement and wholesale payment transactions in mind.Reduced settlement timeUnder the prevailing interbank settlement system, transactions could take several hours to complete, and settlement is not available on weekends or public holidays. JPMorgan’s blockchain pilot, however, will remove these barriers, as Kulkarni explained: “By leveraging blockchain technology to facilitate transactions on a 24x7 basis, processing is instantaneous and enables GIFT City banks to support their own time-zone and operating hours.”This initiative not only addresses the operational challenges of interbank settlement but also serves New Delhi’s strategic goal of positioning GIFT City as a prominent alternative trading center. With the implementation of blockchain technology, GIFT City can provide a competitive advantage by offering efficient, real-time transaction capabilities.The success of Onyx is evident, as the bank reportedly processed nearly $700 billion in short-term loan transactions through the platform as of April 2023. The utilization of Onyx for the interbank dollar transfers in India further demonstrates JPMorgan’s commitment to exploring the potential of blockchain technology in the financial sector.Positioning for de-dollarizationAdditionally, JPMorgan’s involvement in this initiative aligns with the evolving landscape of global finance. The bank’s currency strategists have highlighted signs of emerging de-dollarization, with the US dollar’s share declining in foreign exchange reserves and exports. The adoption of blockchain technology for dollar transactions not only improves efficiency but also aligns with the changing dynamics of the global financial system.As JPMorgan launches the pilot project in collaboration with the Indian banks, the coming months will be crucial for analyzing the experiences and outcomes. This initiative marks a significant step towards streamlining financial operations, embracing innovative solutions, and strengthening India’s role in the adoption of blockchain technology within its financial infrastructure.

DeSpread and Crypto Times Team Up to Bridge Blockchain Information Gap in Korea and JapanDeSpread, a Web3 consulting company based in South Korea, has announced a partnership with Crypto Times, a blockchain media outlet owned by Japanese digital media company Rokubunnoni. The goal of this collaboration is to tackle information asymmetry in the blockchain industries of both countries and expand their global blockchain services.Photo by Ketut Subiyanto on PexelsLeveraging respective expertiseDeSpread intends to leverage its knowledge of the Korean and global markets to assist international Web3 projects in entering the Japanese market, with the ultimate aim of integrating the global Web3 industry into Japan. Recognizing Crypto Times’ thorough understanding of the Japanese market and its culture, DeSpread has chosen to collaborate with them.Sharing market analysesAs part of their partnership, both companies will localize their research reports on a regular basis to share market analyses of the two countries. To start off, Crypto Times will distribute a paper related to the latest trends of zkSync for free. Subsequent papers will be published on DeSpread’s Scribe channel on the digital content monetization platform Access Protocol.The collaboration also aims to provide a comprehensive consulting and marketing solution for Web3 projects seeking to expand into Korea, Japan, and other markets.Creating synergiesRokubunnoni Co-founder Shingo Arai expressed his belief that the cooperation between DeSpread and Crypto Times will create synergies within the Korean and Japanese blockchain industries. Arai expects that the combined expertise of the two firms will offer valuable insights into the Web3 market, delivering new perspectives. He also highlighted that Crypto Times’ research platform, CT Analysis, will improve its services and provide a greater variety of content to its readers, further contributing to the Japanese crypto market.Echoing similar sentiments, Earl Cho, the head of the Japanese business division at DeSpread, emphasized that the collaboration will facilitate the entry of more Web3 companies from Korea and abroad into the Japanese market. Cho expressed hope that this opportunity would unite the efforts of both countries, enabling the East Asian market to better connect with the global market in the Web3 sphere and positioning East Asia as a leader in the crypto industry.