NFTs to Enrich Reading Experience for Book Lovers in Japan

With local regulator the Securities and Futures Commission (SFC) having set out guidelines for crypto firms regarding the provision of crypto staking services, two prominent Hong Kong companies have moved forward with staking-related offerings. HashKey Capital, a crypto-focused institutional asset manager, and crypto trading platform OSL, have announced the addition of staking to an Ether exchange-traded fund (ETF) and in the case of OSL, a partnership with Kiln to offer ETH staking.Photo by Raymond Yeung on UnsplashFirst spot crypto ETF in APAC to support stakingIn a press release published on April 11, HashKey Capital outlined that its Bosera HashKey Ether ETF, which was jointly launched with Bosera Asset Management in April 2024, has received approval from the SFC to engage in Ethereum staking activity from April 25 onwards.  HashKey claimed that its ETH ETF product is the first spot crypto ETF within the Asia-Pacific (APAC) region to support staking. The company stated: “By enabling staking, the ETF aims to enhance potential returns for investors, creating a new avenue to participate in the Ethereum ecosystem through a regulated virtual asset investment vehicle.” The staking service will be extended to the ETF by another HashKey Group company, HashKey Cloud, a Web3 infrastructure provider. HashKey Capital and HashKey OTC Global CEO Deng Chao said that the institutional-grade staking infrastructure of HashKey Cloud was being leveraged in order to provide a secure, efficient and regulated vehicle to access staking rewards with ease to both professional and retail investors.  The ETF is listed on the Hong Kong Stock Exchange (HKEX). It tracks the price of Ether via the CME CF Ether-Dollar Reference Rate, a daily benchmark index price that aggregates Ether trade data from various sources. Competitive edgeBoth HashKey and the Hong Kong authorities have stolen a march on their international counterparts with the launch. In recent months, efforts have been building in the United States by spot ETH ETF providers to add a staking element to these offerings.Robert Mitchnick, head of digital assets at the world’s largest asset manager, BlackRock, told last month’s Digital Asset Summit in New York that the lack of availability of a staking yield as part of U.S. spot ETH ETFs is likely to be holding the development of the products back. He added:”A staking yield is a meaningful part of how you can generate investment return in this space, and all the [ether] ETFs at launch did not have staking.” HashKey and OSL were the first two entities to be issued trading licenses by the regulator in Hong Kong. OSL is also looking to take advantage of the new regulatory clarity related to crypto staking in Hong Kong. On April 10, it published a press release, outlining details of a partnership that it has formed with enterprise-grade staking infrastructure firm, Kiln. By integrating with Kiln’s API infrastructure, OSL is now enabled in offering clients of its custody platform access to staking services.Kiln co-founder and CEO Laszlo Szabo underscored the significance of regulatory approval of staking in Hong Kong, while stating:”With the future integration of staking, these products will offer investors both exposure to ETH price movements and rewards for securing the Ethereum network.”

Shinhan Card’s Membership NFTs Offer Discounts at Emart24 Convenience StoresShinhan Card, a major South Korean credit card company, announced on October 10 (local time) that it is launching membership non-fungible tokens (NFTs) in collaboration with convenience store chain Emart24 and Kakao’s blockchain subsidiary Ground X.Photo by Andrey Metelev on UnsplashNFT and loyalty pointsOwners of the membership NFTs can make purchases of KRW 5,000 ($3.71) or more at Emart24’s brick-and-mortar stores using the Shinhan Card mobile app, known as Shinhan pLay, to earn KRW 1,000 worth of My Shinhan Points. This benefit can be claimed up to three times a month.Moreover, upon purchasing the NFT, buyers will be gifted a KRW 2,000 off Emart24 coupon. Every month, they’ll be treated to a KRW 1,000 off coupon, a 10% off coupon on alcoholic beverages (with savings of up to KRW 3,000), and another 10% off coupon (with savings of up to KRW 1,500).NFT holders also get a KRW 2,000 discount coupon for the card company’s shopping platform, Allthat. Furthermore, every month, when they spend over KRW 10,000 in the food and nutrition category, they can use a 20% discount coupon, saving up to KRW 10,000 on their purchase.Valid for three monthsThese benefits will remain valid for three months starting from the date of issuance of the NFT. A total of 1,000 membership NFTs will be offered for sale at KRW 9,900 each on the Allthat platform until October 16.Purchased NFTs can be received via Ground X’s Klip Wallet, which is accessible through the Emart24 app and the Shinhan pLay app.This initiative stems from an NFT alliance established in July of last year, comprising Shinhan Card, Emart24, and Ground X. The alliance, known as GRID, has set its sights on promoting the widespread adoption of NFTs across diverse sectors, including finance, commerce, and entertainment. Commencing with this effort, Shinhan will engage in collaborative efforts with fellow GRID members to explore additional avenues for expanding its services through its pLay app.

Dunamu’s Luxury Watch Trading Platform Appoints New C-Suite ExecutivesViver, the luxury watch trading platform and subsidiary of Dunamu, the operator of South Korean cryptocurrency exchange Upbit, has recently made c-suite appointments, as reported by local news outlet News1.Photo by Jaelynn Castillo on UnsplashNew appointmentsThe new CEO of Viver, Moon Jae-yeon, brings a wealth of expertise in running online e-commerce platforms. Before joining Viver, Moon held the position of Chief Strategy Officer (CSO) at Market Kurly, an online platform famous for its early-morning grocery deliveries. Prior to that, he worked at eBay Korea for 17 years.Joining Moon is Seo Hee-sun, who assumes the role of Chief Operating Officer (COO) at Viver. Seo has an impressive background as the Business Group Manager at 11th Street, a major online shopping website in the nation, and has accumulated over two decades of experience in this field.Luxury watchesEstablished just two years ago, Viver aims to leverage Dunamu’s digital asset business know-how to set new standards for trading luxury watches, which serve as both real-world assets and investment vehicles. The appointment of these industry experts is a major step towards achieving this goal.Last year, Viver made noticeable strides in expanding its services. The platform launched its own online application service and also opened a brick-and-mortar store in Apgujeon Rodeo, a bustling hub for fashion enthusiasts in Seoul. Moreover, Viver Labs, the watch trading platform’s repair service, offers expert diagnosis and repair of watches from various high-end brands, including Rolex and Audemars Piguet.Moon has expressed his ambition to elevate Viver’s reputation to the level of renowned timepiece e-commerce platforms like WatchBox in the US and Chrono24 in Germany within the next five years. He emphasized that the company intends to take advantage of Dunamu’s cutting-edge blockchain technology and infrastructure to gain a competitive edge in the market.