Wemade Releases Sustainability Report to Demonstrate Commitment to Transparency

German multinational investment bank Deutsche Bank, is collaborating with Singapore's central bank on asset tokenization.  Project GuardianThe company announced on May 14 via a press release that it has joined the Monetary Authority of Singapore’s (MAS) Project Guardian. Project Guardian is an international collaboration between a number of market regulators, led by MAS. Other participants in the initiative include the UK’s Financial Conduct Authority (FCA), Japan’s Financial Services Agency (FSA) and Switzerland’s Financial Market Supervisory Authority (FINMA). The project focuses on asset tokenization relative to wholesale funding markets and decentralized finance (DeFi) applications.Photo by Mariia Shalabaieva on UnsplashThe bank outlined how it intends to participate as part of the collaboration, stating: “As part of the asset and wealth management workstream, the bank will test an open architecture and interoperable blockchain platform to service tokenized and digital funds. It will then propose protocol standards and identify best practice to contribute to industry progress.” The bank’s participation in the project will be headed up by its Asia Pacific (APAC) head of securities and technology, Boon-Hiong Chan. Anand Rengarajan, Head of Securities Services for Asia Pacific and the Middle East, commented on the development, stating:“Contributing to Project Guardian will bolster our efforts to help shape the new frontier of asset servicing, and strongly position us to contribute to industry progress, and not only anticipate our clients’ needs but exceed their expectations.”  Memento Blockchain partnershipDeutsche Bank outlined that it intends to work closely with Memento Blockchain on the project. In fact, it has an existing ongoing collaboration in place with Memento, the developer of a decentralized asset management platform. Memento has developed multi asset swap products and it is currently working towards the development of a zero knowledge layer-2 solution. The duo have worked together over the course of the past two years. A proof-of-concept known as Project DAMA (Digital Assets Management Access) emerged from that partnership. That body of work will be extended into DAMA 2.  Memento Blockchain is the software developer behind the Domani Protocol. It stated on X that more technical details relative to the collaboration will be released in the coming weeks. It added that the collaboration will also involve Interop Labs, the developer of the Axelar Network, the programmable Web3 interoperability platform.  Earlier this year, the Axelar Foundation established a partnership with payment technology firm Ripple Labs with a view towards tokenizing real world assets (RWAs) on top of the XRP Ledger, enabled via Axelar. Axelar co-founder and Interop Labs CEO Sergey Gorbunov told Cointelegraph that “it’s now clear that secure blockchain interoperability is required to unlock the trillion-dollar potential in asset tokenization.” Gorbunov added that “Deutsche Bank and Project Guardian are leading innovation toward establishing the open systems that will enable this technology.” He highlighted the relevance of the Axelar Network in that endeavor, suggesting that “Axelar is critical infrastructure for institutional adoption."

The People’s Bank of China (PBOC) plans to roll out a new structure for its central bank digital currency (CBDC) operations, moving the digital yuan into a deposit-based role within the commercial banking system beginning Jan. 1, 2026. Lu Lei, a deputy governor of the PBOC, announced the update, marking a new direction after nearly a decade of pilot programs. According to a report by FTChinese, the move fits into Beijing’s broader economic planning, as authorities seek to reinforce China’s role in global finance while containing risks tied to loosely regulated digital activity. The deputy governor said China will continue to run the digital yuan under a two-tier system, with the central bank responsible for rules and infrastructure, while commercial banks manage wallets, payments, and compliance. He added that the arrangement is designed to prevent banks from being sidelined and to limit shadow banking risks associated with digital payment platforms outside the regulated system.Photo by Eric Prouzet on UnsplashDigital yuan transactions top $2.3TThe announcement comes as use of the digital yuan, known as the e-CNY, continues to rise. By late November 2025, the system had handled 3.48 billion transactions with a total value of 16.7 trillion yuan ($2.3 trillion). There are about 230 million personal wallets and 18.84 million corporate wallets. Beyond domestic use, the e-CNY is being positioned for international trade. Lu pointed to progress on mBridge, a cross-border payments project involving multiple central banks. The platform has processed 4,047 transactions worth the equivalent of 387.2 billion yuan ($55.3 billion), with the digital yuan accounting for about 95.3% of the settlement value. The deputy governor also sounded a note of caution on private-sector innovation, saying the rapid growth of digital assets and stablecoins could complicate the conduct of monetary policy. He said central banks need to ensure that new payment tools do not undermine macroeconomic stability or allow money to circulate beyond regulated channels. Hong Kong to license crypto dealers, custodiansAs Beijing moves to strengthen its state-backed currency framework, Hong Kong is also tightening oversight of the crypto market. On Dec. 24, the city’s Financial Services and the Treasury Bureau (FSTB) and the Securities and Futures Commission (SFC) released their conclusions on proposed legislation to regulate virtual asset dealing and custodial services. Following the implementation of the Stablecoins Ordinance in August, regulators are now moving to require firms offering crypto dealing or custody services in Hong Kong to obtain licenses and operate under regulatory supervision. They also began seeking feedback on whether to extend oversight to virtual asset advisory and management providers, with the proposed framework modeled on existing securities market rules. In a separate development underscoring the contrast between state-backed and decentralized digital currencies in the region, reports this month pointed to a sharp drop in Bitcoin network activity linked to mainland China. BTC hashrate drop seen amid China mining changesKong Jianping, CEO of Nasdaq-listed Web3 infrastructure firm Nano Labs, said on the social media platform X that the global Bitcoin network’s hashrate fell by about 100 exahashes per second, or roughly 8%, around Dec. 15. He attributed the decline to the shutdown of an estimated 400,000 mining rigs, mainly in Xinjiang. A lower hashrate means less computing power is securing the network, reducing competition among miners that validate transactions. China has maintained a broad ban on crypto trading and mining since 2021. Industry outlet Wu Blockchain said the reasons for the latest shutdowns were unclear. 

Cross Trading of LUNA Tokens Uncovered on Three Korean Crypto ExchangesAccording to a report by the Maeil Business Newspaper on Wednesday, it was discovered that cross trading of LUNA tokens took place on three South Korean cryptocurrency exchanges: Bithumb, Coinone, and GoPax.Three crypto exchangesAn indictment by the Seoul Southern District Prosecutors’ Office against Terraform Labs co-founders Do Kwon and Daniel Shin, along with interviews conducted within the cryptocurrency industry, revealed that Bithumb, Coinone, and GoPax were involved in cross trading LUNA tokens with a combined value of $598 million. Specifically, Bithumb accounted for $224 million, Coinone for $299 billion, and GoPax for $74 billion.The prosecution has confirmed that cross trading continued until the end of February 2022, a period marked by significant demands for virtual asset legislation from both the market and academia. Despite widespread calls for regulations to curb unfair trading practices, these instances of cross trading went undetected.Classification of LUNAMoreover, it is reported that legal punishment for the $598 million worth of cross trading is challenging unless LUNA tokens are officially recognized as securities by the court. Under the Korean Capital Markets Act, only cross trading involving tokens identified as securities can be subject to penalties as a form of market manipulation.During a plenary session of the National Assembly’s Legislation and Judiciary Committee on Tuesday, Justice Minister Han Dong-hoon made a statement suggesting that LUNA tokens could be considered securities due to their backing by real-world assets. However, he said that this distinction might not apply to other tokens.On April 25, the Seoul Southern District Prosecutors’ Office indicted Shin and others as accomplices to Kwon, assuming that LUNA tokens were indeed securities. This case now revolves around whether the prosecution can successfully establish the classification of LUNA tokens as securities during the trial, making it the central issue in the case.Photo by Kanchanara on UnsplashCrypto investor protection legislationLast Thursday, the National Assembly’s National Policy Committee approved a bill known as the “Virtual Assets User Protection Act,” signaling an accelerated legislative process. However, there are arguments suggesting that the definition of cross trading should be further clarified in either the legislation or enforcement decree.A representative of a law firm specializing in virtual assets stated that the implementation of the User Protection Act would take another year even after its promulgation, making it challenging to retrospectively penalize cross trading practices that had already occurred.