Korean Blockchain Startups to Showcase Products in KINTEX in November

Japanese auto-parts manufacturer Ikuyo announced last week its board has approved a 300 million yen ($2 million) investment in Galactic Holdings, the parent company of the TruBit cryptocurrency exchange. The investment expands a capital and business alliance first established on June 26.Photo by CHUTTERSNAP on UnsplashStablecoin for B2B cross-border paymentsIn a press release, the Kanagawa-based company stated the funding will be executed through a third-party allotment of new shares. The capital will support Galactic’s stablecoin infrastructure for B2B cross-border payments and help Ikuyo build expertise in digital financial services, diversify its assets, and enhance its long-term corporate value. The initiative arrives as Japan’s auto-parts sector, which counts more than 600,000 workers at roughly 20,000 firms, seeks new efficiencies amid global economic pressures. Autos represented 28.3% of Japan’s exports to the U.S. in 2024, making U.S. trade policy a key influence. This year, the sector navigated a 25% U.S. tariff on automobiles and parts imposed in April, which was then lowered to 15% on July 22 after a deal with the Trump administration. Shifts in the global trade landscape provide an incentive for companies to streamline operational costs. As a proof of concept, Ikuyo plans to pilot stablecoin settlements in transactions between its China-based subsidiary, Kunshan Veritas Automotive Systems, and Veritas in Mexico. Currently, these trades are settled in Mexican pesos and converted to U.S. dollars. The company expects the use of stablecoins to reduce remittance costs and accelerate settlement times.  While the launch timing, performance metrics, and monetization strategy are still being finalized, the pilot’s results will guide future business development. In the long term, Ikuyo aims to become an early adopter of stablecoin settlement in the auto-parts sector, applying the technology to improve efficiency and transparency in international trade, initially between Japan and Latin America and between Japan and Southeast Asia. Japan embraces Web3 in push for growthThis corporate move aligns with a broader trend of growing government support for decentralized technologies in Japan. Speaking at the WebX2025 event on Aug. 25, Prime Minister Shigeru Ishiba announced stronger state support for Web3 initiatives, describing the sector as a driver of innovation that could help Japan tackle demographic decline and foster economic transformation.  He noted that Web3 is already being implemented at the Osaka Expo and highlighted local pilot programs where communities use tokens as governance rewards. Ishiba also stressed that the government’s five-year startup growth plan would be strengthened through investment and regulatory reforms, with Web3 and related digital industries expected to take center stage. On the financial policy front, Finance Minister Katsunobu Kato recently addressed the rapid increase in crypto adoption across Japan. He explained that his role is to balance necessary oversight with providing the industry enough freedom to innovate. While acknowledging that digital assets remain highly volatile, Kato argued that creating a secure trading environment would protect investors while also helping to diversify and enrich their portfolios. Ikuyo’s initiative underscores the private sector’s quickening embrace of crypto. Last month, SBI Group, one of the nation’s largest financial conglomerates, revealed a strategic alliance with the decentralized oracle provider Chainlink. Their collaboration aims to expand the institutional adoption of digital assets and blockchain globally. The partnership will utilize Chainlink’s Proof of Reserve, SmartData, and Cross-Chain Interoperability Protocol (CCIP) to facilitate the tokenization of real-world assets (RWAs) across multiple blockchains.

Foblgate teams up with GLEN Studio to introduce NFT game to investorsSouth Korean cryptocurrency exchange Foblgate has partnered with GLEN Studio, the operator of the NFT game Random Crypture Defense, to bring the game to users of Foblgate, according to an article published by local news outlet ET News on Thursday (local time). The two firms aim to jointly create and share content for the blockchain and NFT community to engage in.Photo by Arstin Chen on Unsplash“This collaboration will play a crucial role in enhancing Foblgate’s capabilities in discovering and developing diverse content. In the rapidly evolving blockchain market, we aim to provide users with content that aligns with the latest trends,” Foblgate CEO Ahn Hyun-jun said.User-centric, rewards-based gameplayRandom Crypture Defense is a Play-to-Earn (P2E) tower defense game built on the Solana blockchain that is centered around unique and colorful NFT characters. These characters are available for purchase on NFT marketplaces like Magic Eden and SolSea.Players can also play and earn $GLEN, an in-game governance token that gives players voting rights in decisions regarding community wallet usage, sequel game genre planning and project direction, putting players at the forefront of game development and improvement. According to the developer, $GLEN will be listed on decentralized exchanges and will be able to be exchanged with Solana or fiat currencies.Those who wish to participate in a demo play of Random Crypture Defense can do so through Foblgate’s official website. The demo play period is set to last about a month, after which the two companies plan to hold special events for Foblgate users.Foblgate’s expansionFoblgate has recently undertaken various projects in an attempt to grow not only as an exchange but also as a hub for public-oriented, blockchain-related content. Last month, the platform began working with crypto newsletter Conut to display crypto-related news and information on its website that appeals to younger users through trendy vernacular and internet meme references.

Miracle Play and HAVAH team up to expand Web3 ecosystemWeb3 e-sports tournament platform Miracle Play has signed a business agreement with the interchain platform HAVAH to exchange technologies and build a joint ecosystem, according to an official announcement on Miracle Play’s Medium page on Monday (KST).“With our interchain technology, we expect to play a pivotal role in the expansion and organic interoperability of the Web3 e-sports ecosystem, and we will actively cooperate with Miracle Play in building a leading ecosystem and infrastructure,” said Lim Young-kwang, CEO of HAVAH.Photo by Mateo on UnsplashNavigating the interchain landscape and blockchain gamingLaunched in January, HAVAH is an L1 interchain platform that allows users to freely move their digital assets across multiple blockchains. It features multiple decentralized applications (dApps) such as HAVAH Wallet and HAVAH Scan, and houses some 500,000 users.Miracle Play uses smart contract technology to ensure that anyone and everyone can hold various types of gaming tournaments in the form of PC, mobile and console games. It is currently in the open beta phase, with a cumulative participation rate of about 30,000 players. Although it is only supported on Polygon as of now, it will eventually be available on a total of nine major networks including Avalanche, XPLA, Solana and more, to facilitate cross-network gaming tournaments.Collaborative synergyThe two companies plan to collaborate on multiple fronts. Miracle Play will adopt HAVAH’s various mechanisms including the Mitter Protocol, which will allow the platform to implement one-click bridging services on the Miracle Play website and mobile app; as well as its interchain mechanism to bring multi-chain services to Miracle Play.HAVAH also aims to provide technical support for distributing and utilizing in-game rewards across networks on Miracle Play. Miracle Play tournaments will also be available via GameFi dApps in HAVAH’s ecosystem.“We will continue to work with companies in various fields to strengthen the interconnection of the blockchain ecosystem and expand the base of WEB3 Esport by making it conveniently accessible to everyone,” said Kim Hyun, CEO of Miracle Play.