Indonesia Embraces XRP, ADA as Tradable Crypto Assets

Superscrypt Backs Airstack’s Web3 Developer PlatformSingapore-based Superscrypt, an early stage blockchain investment company founded by state-owned global investment conglomerate Temasek, has led an investment round into Web3 developer platform, Airstack.Photo by Giorgio Trovato on UnsplashIndian influenceAirstack closed out the second tranche of its pre-seed funding round, having raised the largest portion of the $7 million raise via Superscrypt. Although based in Miami Beach, Florida, Airstack has a strong Indian influence. Three of its five founders, Deepesh Kumar, Vysakh Nair and Sarvesh Jain originate from the world’s most populous country.The firm’s main offering is to enable developers to be able to easily query on and off-chain data and integrate that same data into the Web3 apps that they are building. Airstack enables this functionality by featuring GraphQL, a query language for APIs and a runtime for fulfilling those queries with the user’s existing data, as a core component of its platform.Achieving greater functionality still, the start-up enhances that use of GraphQL by incorporating the use of artificial intelligence (AI). The company’s Miami Beach-based CEO and Co-Founder, Jason Goldberg, elaborated on the technology it is using in an interview with CoinDesk: “We did extensive interviews with developers over the past year, gaining insights into their previous tool usage and the challenges they faced. Airstack was built to directly address those pain points.”Recent platform launchThe product offering was launched last month and has already lured in over two hundred developers to use the platform. Those developers are harnessing the functionality of Airstack’s platform to assist them in their efforts to bring a broad range of dApps to market.Developer projects are grounded in areas such as marketing engines, decentralized finance (DeFi) portfolio optimizers, customer resource management tools, advertising platforms, and decentralized social media apps, together with messaging applications.With just a straightforward query and response approach, developers can use Airstack platform functionality to query, combine, and integrate on-chain or off-chain, cross-chain, and cross-application data. The offering applies to queries relative to the Ethereum and Polygon blockchain networks. The project intends to support additional blockchain networks going forward, while also intending to increase the level of query complexity made available to platform users.Joining Superscrypt on the Airstack cap table are Hashed Emergent, NGC, Primal Capital, UOB Ventures, Signum Capital, and others. Goldberg articulated the firm’s strategy going forward: “Our immediate focus is to onboard thousands of developers onto Airstack in the coming months. We aim to identify the areas where we add the most value and where genuine business use cases emerge before finalizing our pricing model.”Social app upgradeAt the same time as this funding announcement, Airstack also revealed a separate development related to its Jam social app. Taking to Twitter on Tuesday, Goldberg provided details on an update to the app which utilizes Airstack functionality in order to create social groups based on NFT ownership and collector status. That functionality can be extended further, so that data can be gathered across projects, creating bespoke user profiles relative to the user’s blockchain activity and presence.At the same time as this funding announcement, Airstack also revealed a separate development related to its Jam social app. Taking to Twitter on Tuesday, Goldberg provided details on an update to the app which utilizes Airstack functionality in order to create social groups based on NFT ownership and collector status. That functionality can be extended further, so that data can be gathered across projects, creating bespoke user profiles relative to the user’s blockchain activity and presence.

AIITONE Partners with UAE’s Royal Office to Boost Fintech Industry in AsiaAIITONE, an immersive tech company based in South Korea, has taken a significant step towards expanding its reach to the Middle East, according to Korean news outlet Newsis. The company recently signed a memorandum of understanding (MOU) with the Royal Private Office of H.H Sheikh Ahmed Bin Faisal Al Qassimi in the United Arab Emirates (UAE). The partnership between the two entities aims to bolster the fintech industry in South Korea, China, and Japan.Photo by Editz central Editors on PexelsUAE and East AsiaThe Royal Office, known for its diverse business ventures in the fields of real estate, global trading, consulting, and others, provides valuable guidance and strategies to enterprises in the UAE and the Gulf Cooperation Council. Lately, the Royal Office has been looking to expand its operations into East Asia, making this collaboration with AIITONE a strategic move.Security token and CBDCAs part of their joint efforts, the Royal Office plans to invest in promising Korean startups and facilitate the establishment of UAE banks’ Korean branches. Furthermore, the Royal Office intends to support Korean businesses in entering the Middle East market. Emphasizing their commitment to cutting-edge financial technologies, both parties will also work together on security token projects and central bank digital currencies (CBDCs), areas where Dubai is at the forefront of innovation.To facilitate the smooth implementation of these plans, Royal Office officials will visit AIITONE’s headquarters in Busan, Korea, next month. This visit will foster greater understanding and cooperation between the two organizations.An AIITONE representative expressed enthusiasm about the partnership, recognizing it as an opportunity to witness the Middle East’s growing interest in blockchain-based financial technology. Leveraging its expertise in Web3 technologies, such as extended reality (XR), artificial intelligence (AI), and blockchain, AIITONE strives to contribute to the development of both countries in the realms of digital economy and technology.

Circle and Grab Partner to Pilot Web3 App IntegrationUSDC stablecoin issuer Circle is embarking on a strategic partnership with Grab, Southeast Asia’s multifaceted super app for transportation, deliveries, and payments relative to Web3.Announced via a press release published to Circle’s website on Thursday, the collaboration marks yet another step forward in realizing the promise of Web3 technology in Singapore.Photo by Jason Miraples on UnsplashCircle’s foray into Web3Circle’s latest offering, a Web3 services platform, is set to be seamlessly integrated into the Grab app. The objective of that integration is to enhance Grab user experiences through blockchain-enabled solutions. In that way, the partnership will broaden the horizons of Grab’s already extensive service portfolio, which includes ride-hailing, food delivery, package delivery, ticket bookings, and insurance. Grab hopes that the move will propel the Singaporean super app further into the world of blockchain technology.Grab Web3 WalletNews that Grab was on the road towards rolling out a Web3-related product offering leaked out last week when Chinese crypto reporter Colin Wu tweeted out details related to a Web3 wallet. This official announcement qualifies those initial reports, as one of the key aspects of this collaboration is the introduction of the ‘Grab Web3 Wallet.’The feature, accessible to Singaporean users, enables the easy setup of a blockchain-enabled wallet. Users will have the opportunity to earn rewards in the form of digital collectibles and utilize non-fungible token (NFT) vouchers, thereby immersing themselves in the dynamic world of digital assets.To kickstart this venture, Circle’s Web3 Services will initially support the SG Pitstop Pack NFT vouchers. These vouchers can be redeemed at popular Singapore-based stores in advance of the upcoming F1 Singapore Grand Prix. Jeremy Allaire, Co-Founder and CEO of Circle, expressed his enthusiasm for the company’s efforts in collaborating with what he termed “global-scale consumer internet brands to bring everyday utility to users.” Allaire maintains that the partnership with Grab aligns perfectly with that mission.While bringing Web3 technology into everyday use in Singapore, the partnership also lends support to the Monetary Authority of Singapore’s (MAS) Project Orchid initiative. This initiative seeks to demonstrate the real-world application of Purpose Bound Money. Circle’s Chief Strategy Officer and Head of Global Policy, Dante Disparte, expressed the company’s enthusiasm for accelerating blockchain-powered innovation alongside Grab while aligning with Singapore’s vision to be a leading global hub for responsible digital asset innovation.Circle has been steadily establishing its presence in Singapore, with notable achievements including acquiring a Major Payment Institution (MPI) license from the MAS in June and opening its official office in May.In February, Circle joined forces with Tribe, the first government-supported blockchain ecosystem builder, to launch a unique training and support program aimed at nurturing and upskilling the region’s Web3 developer talent pool.Founded in 2012 in Malaysia as a ride-hailing app, Grab initially entered the scene as a competitor to Uber in the region. Over the years, it has evolved into a true “super app,” offering a myriad of services, including GrabPay (payment services), package delivery, ticket bookings, and insurance. Its user-friendly interface and comprehensive services have made it the go-to app for more than 25 million users in Southeast Asia every month.