Funding Round Sees HashKey Target Unicorn Valuation

Korean Pharma and Running App Employ NFTs to Promote Fatigue ReliefDaewoong Pharmaceutical recently announced its collaboration with D-Run, an NFT-based running app, to employ non-fungible tokens (NFTs) in marketing a fatigue relief product to millennials and Generation Z.©Pexels/Anna ShvetsUnique NFT IllustrationsFor the project, two unique NFT illustrations have been designed, showcasing a brown bear and a red heart with arms and legs. The bear, named Uri, represents Daewoong’s fatigue relief product UR-Shot, and the heart serves as D-Run’s mascot DZ. In one NFT edition, Uri and DZ are depicted running across a bridge, while the other shows them lying down on a grassy lawn under a tree.Each edition will have 100 NFTs available for purchase on Klip Drops, an NFT marketplace operated by Kakao’s blockchain subsidiary Ground X, from April 26 to May 9. NFT buyers will receive 20 tablets of UR-Shot and D-Run merchandise.Millennial and Gen Z runnersDaewoong’s partnership with D-Run, a platform operated by online media outlet dongA.com, a subsidiary of the nation’s leading newspaper Donga Ilbo, aims to connect with the digital-savvy millennial and Gen Z runners. This collaboration promotes UR-Shot as a healthy energy booster. In November last year, Daewoong introduced NFTs featuring Uri to attract millennials and Gen Z consumers.NFTs as marketing strategyNFTs are tokens that utilize blockchain technology to prove ownership of virtual assets. Due to their scarcity and irreplaceability, NFTs have recently become increasingly influential in the digital art sphere such as paintings and videos. In particular, young consumers often use NFTs as a tool to have fun and express themselves.Park Eun-kyung, the head of the consumer healthcare marketing team at Daewoong, said that this NFT collaboration to reach out to young consumers is the first marketing initiative of its kind in the pharmaceutical industry. Daewoong will continue to keep an eye on the consumption culture of younger generations and conduct various digital marketing programs to alleviate customers’ daily fatigue, she added

Gnosis Plans Crypto Visa Card Launch for Singapore and Hong KongGnosis, the Ethereum-centric decentralized infrastructure firm, is launching a Visa card in the UK and the EU, with plans for expansion to Brazil, Mexico, Singapore, and Hong Kong.Photo by Markus Winkler on UnsplashBridging the gapThe Visa card allows users to spend funds from their self-custodial wallets at any merchant accepting Visa. These products are important given that crypto doesn’t exist in a vacuum, and there’s a gap to be bridged between traditional payment methods, such as Visa, and the crypto ecosystem.Traditionally, the crypto industry has struggled with limited usability, but Gnosis wants to erase the divide between crypto and the real world. By enabling users to spend their crypto assets in traditional settings, Gnosis Card paves the way for wider adoption and showcases the potential of DeFi for society as a whole.Expanding reach to AsiaWhile initially launching in Europe, Gnosis Card has ambitious plans for expansion. The company aims to introduce its innovative payment solution to markets beyond Europe. Among the target locations are Hong Kong and Singapore, known for their progressive approach to fintech and in particular, to crypto. By entering these dynamic markets, Gnosis seeks to tap into the growing demand for self-custodial crypto spending options in the Asian region and further empower individuals to utilize their digital assets in everyday transactions.Collaborations for seamless integrationGnosis has partnered with Monerium, the provider of the regulated euro-denominated stablecoin EURe, to facilitate the seamless conversion between traditional currencies and cryptocurrencies. Monerium allows users to connect their wallets to an International Bank Account Number (IBAN), ensuring smooth transactions and interoperability.Additionally, Gnosis Pay, a suite of developer tools, will enable other wallets to issue their own customized payment cards. This collaboration with Fractal, a decentralized identity startup, ensures a smooth know-your-customer (KYC) process. By leveraging strategic partnerships, Gnosis is attempting to create an integrated ecosystem that combines the best of both traditional finance and blockchain technology.Simplifying compliance and securityTo address compliance and security concerns, Gnosis Pay utilizes the Safe smart contract wallet infrastructure. Each user has a Safe account on the Layer 1 chain of Gnosis and another on the Layer 2 Ethereum scaling solution, zkEVM, developed by Polygon.This dual-layer architecture ensures compliance with anti-money laundering (AML) and combating the financing of terrorism (CFT) regulations while providing instant payment processing through the Visa network. Gnosis Pay’s partnerships enable effective screening for fraudulent activities and ensure data privacy compliance, empowering users with control over their personal information.With the launch of the Gnosis Card, Gnosis is likely to change the way individuals spend digital assets held within their self-custodial wallets in the real world. Additionally, by expanding to Hong Kong and Singapore, Gnosis Card is set to make a significant impact in vibrant Asian markets.Through strategic collaborations and a user-centric approach, the company is driving the adoption of cryptocurrencies, promoting financial inclusion, and accelerating the integration of blockchain technology with traditional finance.

BLOX, the Malaysian Web3 firm, has forged a strategic partnership with AsiaPay, a payment processor and gateway solution provider in Asia, focused on crypto payments. Memorandum of understanding (MOU)According to a recently published press release, the collaboration has been formalized through a memorandum of understanding (MOU) and aims to collectively explore and develop cryptocurrency digital payment solutions tailored for the Malaysian market. As global consumers increasingly gravitate towards the most frictionless payment methods, cryptocurrencies are gaining significant traction. However, the seamless integration of cryptocurrencies into day-to-day transactions requires the support of adept payment service providers.Photo by Esmonde Yong on UnsplashStablecoin potentialDespite the burgeoning popularity of cryptocurrencies, the inherent volatility in their prices poses a considerable challenge. To address this challenge, stablecoins have emerged as a viable solution. The adoption of stablecoins has gained momentum, particularly in the business-to-business (B2B) segment, where the efficiency of blockchain-based payments and instant settlement can be harnessed without being hampered by the uncertainties of price fluctuations. It is within the area of stablecoins that BLOX can lend support, given that the entity is responsible for the first Malaysian ringgit-denominated stablecoin (MYRC). Ethan Chung, CEO and Co-Founder of BLOX, expressed enthusiasm about the partnership, stating:“I’m excited to announce our partnership with AsiaPay, enabling Malaysian merchants to effortlessly accept crypto payments without the need for technical expertise. Empowering businesses, simplifying transactions.” Regulatory sandboxThe crypto payment exploration, which will be undertaken by the two companies, is being enabled under the auspices of a regulatory sandbox environment provided by Malaysian central bank Bank Negara Malaysia. Loo Tak Kheong, Country Head and Director at AsiaPay Malaysia, emphasized the added value this collaboration brings to their payment solutions. He said:“At AsiaPay, we provide payment acceptance solutions with multi-currency, multi-lingual, multi-card, and multi-channeled payment capabilities, which we believe by adding an additional payment method via crypto, will further enhance the value-add service to our Merchants and Partners in the payments ecosystem.” AsiaPay operates throughout the Asian region, headquartered in Hong Kong but with a local corporate entity also established to serve the Malaysian market. Malaysia has shown interest in harnessing blockchain for the purposes of international trade and payments. Last year the Southeast Asian country’s Prime Minister had expressed interest in decreasing its dependency on use of the U.S. dollar. Under the guidance of the country’s central bank, Malaysian banks have explored the use of blockchain for the purpose of trade finance. The country had expressed interest in a central bank digital currency (CBDC) in a financial sector blueprint it had previously published, mapping a way forward from 2022 to 2026. The same document deems decentralized cryptocurrencies like bitcoin to be “non-backed digital assets.” Previously the country’s deputy finance minister had said, “cryptocurrencies like Bitcoin are not suitable for use as a payment instrument due to various limitations.” This strategic alliance between BLOX and AsiaPay reflects the ongoing evolution of payment systems, positioning both companies at the forefront of the exploration of crypto-as-a-payment means in Malaysia.