Shinhan Bank and SCB TechX Succeed in Stablecoin Remittance Pilot

Coinone to Launch New Ethereum Reward ServiceSouth Korean crypto exchange Coinone is set to launch a new product named “Ethereum (ETH) Daily” on Coinone Plus, a service that allows users to receive rewards by delegating their virtual asset holdings to the blockchain network.Photo by Shubham Dhage on UnsplashBenefits of Coinone PlusCoinone Plus is divided into three products — Staking, Daily, and ETH 2.0 Staking. Of these, the Daily product distributes daily rewards to individual users who hold a certain cryptocurrency and agree to participate in the service. Unlike the two staking products, it is characterized by the freedom to trade assets and deposit or withdraw them without any of the restrictions imposed by a given network.The upcoming ETH Daily, which will launch on October 4, rewards Coinone users who hold Ethereum and have completed identity verification. Upon agreeing to the relevant service terms and conditions, users will become eligible for snapshots starting the next day, and rewards will be distributed every day starting from the second day. Existing Daily service participants who hold Ethereum will automatically be counted as participants without any additional steps required.Unlocking differentiated investment opportunities“By utilizing Ethereum, which is one of the most popular cryptocurrencies alongside Bitcoin, we decided to launch the ETH Daily product as a means to provide more diverse investment experiences,” explained Coinone CEO Cha Myeong-hoon. “Just by simply holding Ethereum, users can accumulate daily rewards and take part in investments that allow participation in the blockchain ecosystem. We hope our users will take advantage of this opportunity.”

The global cryptocurrency market is poised for unprecedented growth, potentially reaching $200 trillion within a decade, according to Yat Siu, co-founder of Animoca Brands, a prominent Hong Kong-based Web3 game software company and venture capital firm. 2-3x within 18 monthsCurrently valued at approximately $2.7 trillion according to data from crypto aggregator CoinGecko, the cryptocurrency market is set to double or triple in the near term, Siu predicted on The Valr Podcast on May 28. “In the near term — within 12 to 18 months — we can conceive of a doubling or tripling of the space,” he stated, expressing strong confidence in the industry's future milestones. Siu elaborated on his bold forecast, suggesting that over a five to ten-year period, the market could accelerate by 100 to 200 times, potentially reaching a valuation of $200 trillion or even higher. In conversation with Farzam Ehsani, the co-founder of Valr, a platform that allows users to buy, sell, store and transfer crypto assets, Siu said:“I think we could reach that kind of number within a decade.” This explosive growth, according to Siu, will be driven by billions of people becoming digital property owners within the Web3 ecosystem. Siu stated: “It is entirely conceivable that we’re going to have a billion property owners because we’re going to have a billion token holders. This is not possible in the physical world.”Photo by Pierre Borthiry - Peiobty on UnsplashAsia fastest growing marketSiu also pointed out the regional dynamics within the Web3 space, noting that Asia has emerged as the fastest-growing market. “Right now, the leading force in Web3 is clearly Asia,” he argued, citing robust adoption rates in regions such as Southeast Asia, Hong Kong and Japan. In contrast, jurisdictions like the United States are lagging behind, primarily due to regulatory uncertainties. Siu pointed out that historically, the United States has tended to take a leadership role where new technology is concerned. Web3 is turning out to be the exception to that rule. With that, he thinks that it is Asia that will lead the way and that it will continue to lead for the foreseeable future where Web3 is concerned. Bullish on BitcoinHis optimism about the Web3 market's potential aligns with his bullish stance on Bitcoin, currently standing at a market capitalization of $1.3 trillion. Siu made another bold prediction recently, expressing confidence that Bitcoin would eventually reach $1 million. At the time of writing, Bitcoin is trading at $68,346. While that’s far from his $1 million unit price prediction, he did state at Web Summit Rio in April that it would do so “over time.”  That bullishness from the Animoca founder has also manifested itself within the company itself. In early May, the company announced its entry into the Bitcoin ecosystem by endorsing the Opal Foundation, a Bitcoin-centric protocol. At the time, Siu suggested that Bitcoin is now primed for Web3. Siu's projections reflect a broader optimism in the cryptocurrency industry, where rapid technological advancements and increasing adoption rates are expected to drive significant growth. As more individuals and institutions embrace digital assets, the potential for exponential market expansion becomes increasingly plausible.

Ground X Teams Up with Oasys for Digital Wallet and SDK CollaborationGround X, the blockchain subsidiary of South Korean conglomerate Kakao, announced on Wednesday that it has entered a strategic partnership with Oasys, a Japanese blockchain gaming platform.Through this partnership, Ground X and Oasys aim to collaborate on multiple fronts and onboard each other’s respective Web3 ecosystems. Ground X said that it will participate as a partner company in Oasys’ Web3 ecosystem, collaborating with other Japanese blockchain and gaming firms.Photo by GuerrillaBuzz on UnsplashSDK sharingIn particular, Ground X also plans to provide a software development kit (SDK) that will enable game developers around the world to embed digital asset wallets into their services by leveraging the convenience and technical capabilities of Kakao’s digital wallet, Klip.“By providing the embedded SDK through this partnership, this will serve as an opportunity for Ground X to expand globally by attracting more Klip users,” said Kim Tae-geun, Head of the Business Group Division at Ground X.Dominic Jang, Head of Business Development at Oasys, expressed similar sentiments, stating, “This Klip wallet SDK will allow Oasys’ partners in the gaming industry to operate more smoothly, serving as valuable infrastructure.”NFT allianceOasys will also become a member of GRID — Ground X’s alliance of over 130 local companies aimed at popularizing and fostering non-fungible token (NFT) usage in Korea. Ground X will subsequently share with Oasys the expertise it has gained through success stories of various NFTs on Klip. Through a combination of all these efforts, the company’s goal is to expand the local NFT business ecosystem and increase opportunities for networking and joint marketing between Korean and Japanese companies.“Ground X is at the forefront of Kakao’s blockchain business and has accumulated a wealth of expertise in the blockchain field. Through our collaboration with them, the Oasys ecosystem gains a strong partner,” Jang emphasized.In addition, Ground X is participating as a partner company and panel judge in a blockchain hackathon organized by Oasys and XPLA.