Crypto Exchange Bithumb’s Operator Closing Businesses

XPLA and PERPLAY join forces to bolster rewarding mechanism to Web3 gamesSouth Korean gaming corporation Com2uS Group’s layer 1 blockchain XPLA has entered a business agreement with the mobile Game and Earn (G&E) platform PERPLAY to boost the sustainability of its ecosystem and take Web3 gaming to new heights, according to an official announcement on Thursday (KST).Photo by ROBIN WORRALL on UnsplashXPLA’s vision“XPLA is a project working towards promoting new levels of fun in Web3 gaming and building an ecosystem based on a fair system of sharing rewards with users,” said Paul Kim, Team Leader at XPLA. “Through this partnership with PERPLAY, we are one step closer to fulfilling our Web3 philosophy, which is centered around the participants in our ecosystem.”Rewards for everyoneThe PERPLAY app runs on a Proof of Play (POP) algorithm that employs a rewarding mechanism that distributes tokens to users based on their game playtime and collection of tiered NFTs. PERPLAY users can earn $XPER and $PER token rewards by playing any mobile game — existing or newly downloaded — that they have registered in the PERPLAY app.XPLA hopes to integrate this algorithm into its ecosystem to add a rewarding layer to various games on its mainnet, offering a unique and elevated gaming experience. The first of these games will be Com2uS Holdings’ popular mobile role-playing game (RPG) The Walking Dead: All-Stars.“We see this partnership with XPLA as an opportunity to further strengthen the PERPLAY user ecosystem,” said Lim Jae-chung, CEO of PERPLAY. “Starting with The Walking Dead: All-Stars, we will bring the PERPLAY experience to various Web3 games on XPLA.”In a related development, XPLA has partnered with Google Cloud, which will serve as a Volunteer Validator for its blockchain protocol. The collaboration with the cloud computing platform is expected to enhance the integrity of the XPLA network.

Laser Digital Expands Global Presence with New Tokyo OfficeLaser Digital Asset Management, the digital asset subsidiary of Japanese financial giant Nomura, is taking significant steps in its global expansion strategy by opening a new office in Tokyo, Japan. That’s according to a statement published by the firm on Monday.Photo by Jaison Lin on UnsplashNomura executive appointmentTo lead this strategic move, Hideaki Kudo, a seasoned professional with a distinguished career at Nomura, has been appointed as the Representative Director and Head of Laser Digital’s Japanese operations.Kudo’s impressive journey within the Nomura Group began in 2007 when he joined Nomura Asset Management, where he later held the position of Senior Portfolio Manager. Over the years, he played a pivotal role in contributing to the group’s success. His expertise caught the attention of Nomura’s Digital Company, where he served as an Executive Director, responsible for shaping the group’s digital asset strategy. Kudo’s track record includes spearheading essential projects such as the development of security tokens and orchestrating Japan’s first-ever real estate security token offering.Commenting on his new role at Laser Digital, Kudo expressed his excitement, stating:“It’s exciting to join Laser as they expand operations to Japan. Since 2019, I have been managing Nomura’s advancements into the digital asset space, and I am delighted to now join the Laser team on their journey.”Earlier this year the firm strengthened its venture capital arm through the appointment of industry veteran Florent Jouanneau as a new partner.Zurich-headquartered Laser Digital, launched by Nomura last autumn, is led by Co-Founders Steven Ashley and Jez Mohideen. Ashley, a former leader of Nomura’s wholesale division, emphasized the importance of having 24/7 operational management to optimize support for their trading business.Setting their sights on Japan for expansion into the Far East, Kudo’s extensive experience at the Digital Company is expected to be invaluable for Laser Digital’s development and growth. Laser Digital uniquely combines the discipline and capabilities of global investment banking with the expertise of a crypto-native team.Broader expansion strategyLaser Digital’s expansion into Japan aligns with a broader trend of crypto companies seeking growth opportunities in Asia, as noted by Laser Digital CEO Jez Mohideen. In a recent interview, Mohideen expressed optimism about the crypto ecosystems in Japan and Hong Kong, highlighting the potential for significant growth in the region.He also emphasized the importance of regulatory clarity in Asia and the Middle East, suggesting that these factors would play a pivotal role in driving crypto adoption. In August, Laser Digital secured a crypto license from Dubai’s virtual asset regulatory authority, enabling the provision of virtual asset broker-dealer and investment services from its Dubai entity. Last month the company received in-principle approval from the Abu Dhabi Global Market (ADGM), further solidifying its presence in the Middle East.As Laser Digital continues to expand its global footprint, the appointment of Hideaki Kudo and the establishment of a new office in Tokyo mark significant milestones in the company’s journey to provide comprehensive digital asset solutions to clients worldwide. With Kudo’s leadership and Nomura’s backing, Laser Digital is attempting to position itself for further success in the burgeoning crypto industry.

Liminal, a Singapore-based digital asset custodian, has gained regulatory approval in Abu Dhabi, as part of a series of recent steps the company has taken to expand across Asia and the Middle East. Extending digital asset custody to the Middle EastTaking to the X social media platform on May 13, the company outlined that its First Answer Middle East subsidiary received Financial Services Permission (FSP) from the Abu Dhabi Global Market's (ADGM) Financial Services Regulatory Authority (FSRA) on May 9. The approval allows the firm to provide digital asset custody in the region. Liminal had initially been granted in-principle approval last year. In a series of posts, the company outlined that it sees Abu Dhabi’s regulatory framework in respect of digital assets as forward-thinking. It drew particular attention to the work of the FSRA in developing a robust framework to enable institutions to enter the digital assets space.Photo by Sohail Sarwar on UnsplashGame changerOn the actual license approval itself, the company stated, “The FSP license allows Liminal to hold, manage, and safeguard digital assets on behalf of institutions, hedge funds, venture capitalists and professional clients. This is a game-changer for digital asset custody practices in the region.” Further regional expansionOver the course of recent months, Liminal has scored a number of regulatory successes within the Asia Pacific (APAC) and Middle East and North Africa (MENA) regions. Its success within the United Arab Emirates (UAE) has not been confined to Abu Dhabi. In April, First Answer Custody FZE, a Dubai-based subsidiary company, secured initial approval from the emirate's regulator, the Virtual Asset Regulatory Authority (VARA).  Meanwhile, Liminal's Indian subsidiary, First Answer India Technologies, has been established and registered as a reporting entity. As a consequence, it has become the first digital asset custodian registered with India’s Financial Intelligence Unit (FIU), an organization that falls under the umbrella of the Department of Revenue, and  which collects financial intelligence relative to money laundering.  Making further in-roads within the world’s most populous country in November, India’s Central Bureau of Investigation (CBI) appointed the firm with a mandate to manage seized digital assets. Liminal has ties with India insofar as it was founded by Mahin Gupta in 2021, the co-founder of crypto exchange ZebPay. In an interview with CoinDesk, Manan Vora, senior vice president of strategy and business operations at Liminal stated:"We initiated a strategic drive two years ago to secure regulatory licenses in key markets across APAC and EMEA (Europe, Middle East and Africa), strategically positioning ourselves to cater to institutional clients.” Vora added: "Our strategic vision is to expand from our present technology presence in Europe and Taiwan to pushing for regulatory victories there. In Indonesia, we are already working as a technology provider for the nation's sovereign digital asset exchange." Within its home market of Singapore, Liminal was grandfathered into a new licensing system that the city-state introduced recently in respect of digital asset custody as a consequence of already having been a provider of such services in Singapore. The company has been given a grace period of six months. Within that timeframe, it intends to submit an application to local regulator, the Monetary Authority of Singapore.