WEMIX Listed on Crypto Exchange CoinDCX, Strengthening Presence in India

Japan Moves to Allow Startups to Sell Digital Tokens to VC FundsIn a move that further advances Japan’s efforts in the digital assets space, the country is poised to permit startups to raise capital from venture capital firms using digital assets instead of traditional stock.The approval of this approach will provide a broader spectrum of funding options for emerging companies deeply entrenched in the world of blockchain technology.Photo by Bagus Pangestu on PexelsAcceptance beyond conventional assetsCurrently, limited partnerships in Japan are predominantly associated with conventional assets such as shares, stock options, and security tokens defined by local securities laws. However, according to a report published by local financial daily Nikkei Asia on Friday, an impending rule change is set to expand this list to encompass other tokens and crypto assets, heralding a fresh era of investment opportunities in a domain that has remained relatively under-explored within the country.The Japanese government is on track to present the requisite legal revisions to the parliament, with expectations for this transformational move to occur as early as 2024. Unlike traditional shares, blockchain-based tokens offer the unique advantage of swift creation without the need for intermediaries or brokerage services.Consequently, fundraising via digital assets is becoming the preferred choice for companies operating in the cutting-edge realm of Web3 technologies, including blockchain.In Japan, a number of companies, such as the blockchain developer HashPalette, have already raised substantial amounts through token offerings. However, the existing limitations obstructing limited partnerships from investing in tokens have hindered Japanese venture capital firms and institutional investors from partaking in the burgeoning success of Web3 enterprises.Overseas token issuanceTraditionally, startups have resorted to issuing tokens in overseas locations like Singapore and Dubai. On the venture capital front, Japanese powerhouse Skyland Ventures ventured into tokens through its Singapore-based subsidiary.Notably, Japan’s Financial Services Agency (FSA) is contemplating a tax code revision for fiscal year 2024 and beyond, with the objective of exempting crypto assets and tokens from taxes on unrealized gains based on market value. This strategic move aims to eliminate a significant deterrent for potential investors in the field.While venture capital firms are eagerly anticipating this legislative change, some, like B Dash Ventures, acknowledge that the revision of the limited partnership law alone may not trigger an immediate surge in fundraising via virtual currencies. Nevertheless, it marks a significant step toward fostering a more conducive environment for digital asset investment.Removal of limited partnership restrictionsJapan’s forward-looking approach also extends to the removal of restrictions on limited partnerships that previously mandated them to invest more than half of their capital within the domestic market. This move is expected to bolster profits, empower venture capital firms with more substantial capital reserves, and ultimately fuel investment in domestic startups.Japan’s decision to embrace the potential of digital assets for startup fundraising is a progressive move. Initial exchange offerings (IEOs) are already authorized in Japan, but this proposed funding mechanism would offer a new channel through which Web3 innovation can be financed within the East Asian island nation. Given that most Web3 startups raise funds in this way, it will mean that Japanese-based firms in the Web3 space will be able to develop and participate fully as this innovation rolls out further on a global basis.

NEOPIN Launches South Korea’s First ETH Liquid Staking ProductNEOPIN, the global CeDeFi platform of Neowiz Holdings, a South Korean investment holding company, has launched liquid staking products for ETH and KLAY, as reported by local media outlet News1.Photo by Kanchanara on UnsplashLiquidity provider tokensLiquid staking enables users to deposit their cryptocurrencies into a staking pool and, in return, receive liquidity provider tokens. These tokens can then be redeposited to earn additional yield. For example, NEOPIN users can stake ETH or KLAY on the platform and receive npETH or npKLAY tokens, respectively, which can be further deposited to earn rewards.NEOPIN asserts that it is the first Korean blockchain project to introduce an ETH liquid staking product. To make the platform more user-friendly, NEOPIN has improved its interface, ensuring easy navigation for its customers.In celebration of this launch, NEOPIN is hosting a promotional event. Users who utilize the ETH liquid staking product will earn the NPT token, the native token of the NEOPIN ecosystem, with an annual percentage yield (APY) of 5% until August 9. Meanwhile, participants in the KLAY liquid staking product can earn twice the reward points until September 26 through the ongoing NEOPIN membership promotion campaign.Qualitative and quantitative growthPrior to this development, it was reported that NEOPLY, the operator of NEOPIN, joined the Innovation Programme of the Abu Dhabi Investment Office (ADIO) in the United Arab Emirates (UAE). Stefan Kim, Chief Business Officer at NEOPIN, highlighted the strategic collaboration between the platform and the Abu Dhabi Global Market (ADGM) to establish a regulatory framework for decentralized finance (DeFi). Kim emphasized that while this partnership will contribute to NEOPIN’s qualitative growth, the implementation of liquid staking derivatives finance (LSD-Fi) will pave the way for its quantitative expansion.

Xangle Joins Com2uS Group’s Blockchain Mainnet XPLA as ValidatorCrossAngle, the operator of the virtual asset analysis platform Xangle, said Thursday that it has joined Com2uS Group’s blockchain mainnet XPLA as a validator.Photo by Shubham Dhage on UnsplashIn crypto, validators are entities in Proof of Stake (PoS) blockchain networks who operate nodes and contribute to the network’s maintenance and security by validating new transactions.Xangle will participate as a validator in the XPLA mainnet, contributing to the security and well-being of the blockchain ecosystem.About XPLA and XangleXPLA is a global mainnet that offers multiple services like a non-fungible token (NFT) marketplace, a metaverse, and entertainment services. It has partnered with many leading Web3 companies from around the world, including Com2uS Holdings, Oasys, Animoca Brands, Yield Guild Games, Blockdaemon, Cosmostation, and more. Xangle has now joined as a validator, adding its name to the list.Xangle is a major platform providing research and analytics on virtual assets. It aims to address information asymmetry within the blockchain ecosystem and promotes the mass adoption of Web3.Xangle and XPLA have consistently worked together to cultivate the popularization of Web3 and create a transparent and well-maintained blockchain ecosystem. Xangle had previously participated as a partner company in the Beyond Boundaries Web3 hackathon co-hosted by XPLA and Oasys last month following XPLA’s adoption of Xangle’s on-chain analytics service in April.Xangle’s innovative solutionsXangle is also set to launch blockchain data-based corporate solutions catered to virtual asset and Web3 businesses later this year. One of these solutions, dubbed “Explorer,” will allow search and analysis of on-chain data generated within blockchain networks. The company also announced that it will launch the beta version of Xangle Beacon — a comprehensive service to help Web3 companies operate, manage, and scale their services.