Parachain Fork Sees Transition to Enjin Blockchain

Bahrani Bank Launches JPM Coin PaymentsBank ABC, headquartered in Bahrain, has become the first Middle Eastern bank to offer faster cross-border payment solutions for corporate and financial institutions using JP Morgan’s Onyx Coin Systems.Photo by Satheesh Cholakkal on PexelsCentral bank collaborationThis blockchain-based permissioned system, housed within JP Morgan’s Onyx platform, aims to enhance the efficiency and speed of international payments. The introduction of the blockchain-based payment service by Bank ABC follows a closely coordinated effort with the Central Bank of Bahrain (CBB), demonstrative of the interest of both institutions in embracing cutting-edge financial technology.Central Bank of Bahrain Governor Rasheed Al Maraj praised the collaboration, stating:“After working closely with JP Morgan and Bank ABC over the past two years to experiment with cross-border commercial transactions between Bahrain and the US, leveraging the JP Morgan Coin System, we are pleased to witness the soft launch of this innovative banking solution by a Bahraini-based bank.”Embracing innovation and digitalizationThe initiative aligns with the CBB’s strategic vision to embrace innovation and digitalize the kingdom’s financial services sector. By eliminating inefficiencies in traditional cross-border payment systems, this solution aims to facilitate trade between Bahrain and the US, with the ultimate aim of stimulating greater economic activity.Bahrain has been demonstrating more recently a desire to move away from its oil-based economy and embrace blockchain technology as part of that diversification. Bank ABC Group CEO Sael Al Waary stated that it was playing a role as a key enabler of Bahrain’s vision for a digital economy.He expressed gratitude to the Central Bank of Bahrain for its support and leadership and recognized JP Morgan for its pivotal role in advancing cross-border payments. The bank’s CEO outlined the organization’s commitment to introducing innovative products and highlighted the benefits of the JP Morgan Coin Systems service. He explained:“Offering high-value cross-border payments via the JP Morgan Coin Systems service allows us to reduce traditional settlement periods considerably and be more cost-effective for our clients.”Naveen Mallela, Global Head of Onyx Coin Systems at JP Morgan, underscored the significance of the launch, stating: “Bank ABC has been one of the earliest adopters of the JPM Coin offering, and we are delighted to launch the first-of-its-kind commercial payment offering between JP Morgan and Bank ABC using distributed ledger rails.”Enabling cross-border transactionsThe service enables cross-border commercial transactions to occur instantly and with certainty between Bahrain and US corridors. While initially launched with USD and specific locations, the roadmap includes plans for additional locations and currencies, with the euro notably on the horizon. Furthermore, the introduction of programmable payment offerings will empower mutual corporate clients to execute event-driven and automated payouts, enhancing dynamic and real-time treasury management.The launch of this service is a pivotal step in Bank ABC’s digital transformation program, aimed at future-proofing and diversifying the bank’s offerings with the latest banking innovations. The initiative reinforces the bank’s undertaking to provide cutting-edge financial services while contributing to the evolution of Bahrain’s digital economy.As financial institutions across the world continue to explore the potential of blockchain and distributed ledger technology, Bank ABC’s collaboration with JP Morgan sets an example for others in the Middle East to evaluate.

Starbucks Korea implements NFT initiative to boost sustainability effortsStarbucks Korea is set to take on several eco-friendly initiatives in the new year to promote the use of personal reusable cups, including an NFT wallet and a new tumbler coupon policy, according to local news outlet Newsis on Thursday (KST).Photo by Battlecreek Coffee Roasters on UnsplashNFTs and eco-friendly effortsIn a newfound development, the brand also said that it would start issuing NFTs through a new NFT wallet on its mobile app next month as part of its eco-friendly consumption campaign. Until now, NFTs have been widely utilized in fields like art, music and entertainment due to their ability to prove individual ownership of digital assets. Starbucks’ adoption of the technology is a significant step in its implementation into daily life, which will lead to an increase in the number of real-world use cases and an acceleration in the transition to the era of Web3.To celebrate the launch of the NFT wallet, Starbucks plans to hold a promotional event where customers who use a reusable cup for one beverage ordered via the Siren Order function will receive one Eco Stamp. Up to three stamps can be collected per day. These can be exchanged for various types of NFTs, which are categorized as Basic, Creative and Artist, and each customer can only own one.Starbucks’ NFTs will be minted in collaboration with Seoul-based art platform and gallery Print Bakery (PBG) and PBG exclusive artist DADAZ, featuring images of unique cups, tumblers and more.The franchise plans to hold an offline exhibition to showcase images of the NFTs as well as its achievements in corporate sustainability at the Starbucks Jongno R store located in Jongno-gu, central Seoul, early next month.Sustainable sipsThe coffee franchise is also known for offering a complimentary beverage voucher to customers who purchase a reusable cup or tumbler. Next month, this voucher will be renamed the Eco Tumbler Beverage Coupon, which customers can exchange for a tall-sized beverage of their choice. This policy is aimed at encouraging the use of personal cups and providing tailored benefits to customers who embrace sustainable options.This new introduction was partially driven by the steady increase in the number of personal cups used at Starbucks stores around the country over the past three years. The annual number of cases has risen from 17.39 million in 2020 to 21.9 million in 2021, then 25.3 million last year.This figure has spiked significantly this year in particular, with the cumulative yearly number reaching 26.7 million last month, surpassing last year’s total. If this trend continues until the end of the year, the estimated figure is expected to be around 29.6 million, representing a 17% increase compared to 2022.This upward trend is attributed to the immediate KRW 400 discount offered to customers who participate, as well as an alternative benefit where customers can earn one “Star”, or reward point, for each purchase that they make. Until last month, the total value of benefits that were distributed via these two systems — with one Star valued at KRW 500 — exceeded KRW 12 billion. The ratio of immediate discount and Star rewards in this value stands at 30% and 70%, respectively.Green commitmentStarbucks also plans to continue its No Single-Use Cup Day campaign, a collaboration with the Korea Zero Waste Movement Network that has been ongoing for the past five years. The brand dedicates the tenth of every month as a day without single-use disposable cups, giving out merchandise like mugs, tumblers, coffee ground planting kits and stickers. Since last year, various events have been organized to celebrate the day, such as coupons gifted to customers who use reusable cups the most. Approximately one million people have participated in these promotions since the campaign’s inception in 2018.Starbucks expressed its hopes that these initiatives would act as a catalyst for positive changes in local communities by encouraging the reduction of waste.

Hong Kong–listed companies are stepping up digital-asset bets as the city sets out a clearer rulebook, a sign that tighter oversight and new market rails are starting to unlock institutional demand.Photo by Ruslan Bardash on UnsplashCorporate moves signal rising appetiteBoyaa Interactive International has been adding Bitcoin (BTC) to its treasury, with the latest acquisition of 411 BTC bringing its total holdings to 4,091 BTC. The gaming company has said it will direct 90% of a planned $56.3 million rights issue into Bitcoin. Yunfeng Financial raised HKD 1.17 billion, or about $150 million, through a new share issuance and plans to use part of the proceeds to launch cryptocurrency trading and investment management services. The firm is associated with Yunfeng Capital, which was co-founded by Alibaba founder Jack Ma, and has previously outlined plans to accumulate BTC, Ethereum (ETH), and Solana (SOL). These moves land alongside a policy reset from the top. In his annual address on Sept. 17, Chief Executive John Lee reaffirmed Hong Kong’s goal of cementing its position as an international hub in finance, including digital assets, while pairing that ambition with stronger investor safeguards. Tokenization and blockchain testbedThe centerpiece is Project Ensemble, run by the Hong Kong Monetary Authority (HKMA). The initiative is building infrastructure for a tokenized market and operates a sandbox where institutions can test blockchain systems in live business settings. Priorities include tokenized bank deposits, settlement of tokenized assets such as money market funds, and standardized issuance of government tokenized bonds. Regulation is advancing in parallel. The government is preparing legislation for a licensing regime that covers stablecoin issuers as well as digital-asset dealing and custody providers. The Securities and Futures Commission is studying an expansion of products for professional investors, with tougher protections baked in. The regulator plans to use automated reporting and data surveillance to curb misconduct. Authorities also intend to deepen cross-border cooperation to combat tax evasion. Banking rules are set to shift as well. The HKMA has circulated draft guidance that would ease capital requirements for certain crypto exposures in line with Basel standards through a new policy module called CRP-1. Under the proposal, assets issued on permissionless blockchains could qualify for lower capital charges when issuers demonstrate effective risk management. Hong Kong aims to implement the international rules by early 2026.Publicly traded BTC treasury firms in China Source: BitcoinTreasuries.NETAdoption amid constraintsNot every institution will join the build-out. Mainland policies may constrain participation, according to Caixin. Chinese digital platforms, state-owned enterprises (SOEs), and financial entities operating in Hong Kong could face limits on stablecoin and other crypto activity. Branches of several SOEs and Chinese banks are also unlikely to seek a Hong Kong stablecoin license. Corporate adoption remains broad despite those headwinds. Publicly traded Bitcoin treasury companies in China and Hong Kong hold a combined 19,280 BTC, according to BitcoinTreasuries.net. Several appear among the top 50 public corporate holders worldwide, including Next Technology Holding (16th), Cango (18th), Boyaa (24th), Nano Labs (48th), and Ming Shing Group (50th). The tally points to rising regional interest in digital assets. Publicly traded BTC treasury firms in Hong Kong Source: BitcoinTreasuries.NET