Korea’s Traditional Customer Rewards Program Embraces NFTs

Monex Group, a well-known securities broker in Japan’s financial services sector, is delving further into the digital currency space through the acquisition of a majority stake in 3iQ Digital Holdings, a Canadian crypto asset management company. Whilst the acquisition was announced via a joint press release on Thursday, the specific details of the deal were not disclosed.Photo by sebastiaan stam on UnsplashAchieving growth through cryptoYuko Seimei, the CEO of Monex Group, emphasized the long-term strategy of strengthening their asset management business. By incorporating 3iQ into their portfolio, the aim is to achieve substantial growth by catering to the evolving crypto asset management needs of institutional investors and crypto exchanges globally. Monex Group is already a key player in the Japanese crypto landscape, owning the Coincheck exchange. Coincheck is one of the largest cryptocurrency exchanges in Japan. It has regained market dominance after a cyber attack resulting in the theft of $534 million in digital assets in 2018. Monex collaborated with Japanese telecommunications firm NTT DOCOMO in October, forming Monex Securities as a holding company containing Coincheck, while selling NTT DOCOMO a 49% stake. ETF focusThe acquisition of 3iQ marks Monex’s strategic move to extend its exposure to the North American crypto industry. This adds to the conglomerate’s existing presence in the United States through the ownership and operation of TradeStation, an American brokerage firm. 3iQ, operating under a Canadian license, has come to prominence in the crypto-sphere for launching two exchange-traded funds (ETFs) in Canada. Notably, it introduced Bitcoin and Ethereum ETFs on the Toronto Stock Exchange, showcasing innovation in a region where regulatory approval is awaited by U.S.-based companies. Spot bitcoin ETFs have been hotly tipped to offer the next form of crypto adoption, potentially facilitating the in-flow of massive amounts of money currently within the domain of traditional finance. While the focus has been largely on the United States in that regard, other centers such as Hong Kong are similarly gearing up towards offering spot ETF crypto products to both institutions and retail investors. Amid that background, this acquisition by Monex didn’t go unnoticed by ETF sector professionals. Bloomberg Intelligence ETF Research Analyst James Seyffart took to social media platform X on Thursday to draw attention to the deal. Frederick Pye, the Chairman and CEO of 3iQ, expressed enthusiasm about joining forces with Monex Group. With Monex already owning Coincheck, a crypto exchange powerhouse in Japan, Pye highlighted the potential synergy. The collaboration is seen as an opportunity to enhance Coincheck’s offerings, particularly for institutional investors. Pye characterized the partnership as a groundbreaking collaboration that promises to reshape the crypto industry. Monex’s acquisition of 3iQ is aligned with its broader vision of being a key player in the global crypto asset management landscape. The move not only expands their reach into North America but also positions them to capitalize on the growing demands of institutional investors in the evolving digital currency market.

South Korean crypto exchange Bithumb is working with the International Criminal Police Organization (Interpol) to combat global criminal activities involving digital assets. According to Korean media outlet Joseilbo, Yoo Jung-ki, who heads Bithumb's Policy Support Office, met with Tomonobu Kaya, Assistant Director of Interpol's Financial Crime and Anti-Corruption Centre, during a recent meeting in Thailand. The gathering was part of a three-day event held from March 10 to 12, organized under Interpol's Project ViCTOR (Virtual assets-facilitated financial Crime – Trace, Obstruct and Recover), an initiative funded by Japan's Ministry of Foreign Affairs. During their meeting, the two officials explored ways to enhance cooperation while committing to maintaining a close, sustainable working relationship.Photo by rc.xyz NFT gallery on UnsplashExchange shares expertiseDuring his Bangkok visit, Yoo delivered a speech addressing emerging crypto crime trends and necessary regulatory changes to protect users. He also discussed the Financial Action Task Force's (FATF) guidelines and recommendations, along with South Korea's policies on anti-money laundering and combating terrorism financing (AML/CFT). His presentation resonated with the audience, particularly when he emphasized the importance of collaboration between the public sector and crypto exchanges on multiple fronts, including recovering stolen funds from criminals. Regarding the meeting, Yoo stated that he found it meaningful to participate, as a representative of South Korean crypto exchanges, in a gathering focused on developing global countermeasures against money laundering and digital asset crimes. He added that Bithumb is committed to supporting the international cooperative system aimed at preventing and recovering from crypto crimes. Interpol’s effortsThe event also covered recent updates on Interpol's Global Rapid Intervention of Payments (I-GRIP) stop-payment mechanism, launched in 2022, and Singapore's evolving crypto regulatory landscape. In June last year, Interpol reported that police across 61 countries had collectively intercepted approximately $135 million in fiat currency and $2 million in cryptocurrency, with I-GRIP helping authorities track illicit proceeds from both types of currencies.Interpol's involvement in investigating crypto crimes has been expanding recently. According to Cointelegraph, Argentine lawyer Gregorio Dalbon has requested that a prosecutor and judge issue an Interpol Red Notice for Hayden Davis, a co-creator of the LIBRA token allegedly linked to Argentine President Javier Milei. The controversial memecoin, launched last month, briefly reached a $4.5 billion market cap before its value collapsed.

LINE NEXT and Sega Join Hands to Develop Web3 Games with NFTsLINE NEXT, the NFT business arm of Tokyo-based messaging app developer Line Corporation, has announced the signing of a memorandum of understanding (MOU) with Japanese game company Sega. This partnership will see LINE NEXT acquiring intellectual property (IP) licenses of Sega’s video game franchises for the purpose of jointly developing Web3 games.Renowned for its iconic Sonic the Hedgehog franchise, Sega boasts studios in Japan and abroad. The Japanese game publisher produces games of various genres on different platforms, including arcade machines, desktop computers, and mobile phones. Sega has gained recognition for creating generational games for international users through innovative ideas and outstanding game development skills.Photo by Shubham’s Web3 on UnsplashWeb3 game popularizationThrough this collaboration, LINE NEXT will introduce Sega-licensed games on its NFT-based gaming platform, GAME DOSI, with the aim of popularizing Web3 games. GAME DOSI will provide functionalities such as NFT creation, easy payment, and marketing. While the specific lineup of games and their details will be revealed at a later date, LINE NEXT CEO Ko Young-su expressed his belief that this MOU with Sega will bring new elements of joy to global gamers, emphasizing that the NFT company is dedicated to delivering readily enjoyable Web3 content not only to Sega fans but to everyone through GAME DOSI.Launched in May, GAME DOSI focuses on user-oriented games with the slogan “Gamer First, Web3 Next.” The platform has recently unveiled several new games, including Sweet Monster Guardians (a village defense game); Vestria the Last Order, also known as V.L.O, (a roguelite role-playing game); and KEROZ (a hack and slash game). Additionally, GAME DOSI is actively involved in Project GD, an initiative aimed at developing a diverse range of games based on its own intellectual properties.LINE NEXT’s NFT endeavorsIn its efforts to attract NFT enthusiasts, LINE NEXT has undertaken various projects. Last month, it introduced DOSI Land, a program that rewards users with the FINSCHIA token (FNSA). FNSA is currently listed on crypto exchanges Bithumb, Bittrex, Huobi, and Gate.io, according to crypto market data website CoinMarketCap.Sega’s blockchain hesitancyMeanwhile, it was reported earlier that Sega has been rethinking its involvement in blockchain gaming. Shuji Utsumi, the Co-Chief Operating Officer of Sega, recently stated in an interview with Bloomberg that the company intends to protect the value of its content by withholding from participating in third-party blockchain gaming projects. Utsumi expressed his belief in the importance of the fun element in games, while he described “play-to-earn” (P2E) blockchain games as “boring.” P2E games refer to those that enable players to earn tokens as rewards for completing specific tasks or winning battles against other players.