Korea’s Premier Law Firm to Jointly Hold Seminar on Preventing Crypto Exploits

Jersey-headquartered Komainu, a digital asset custodian backed by Japan’s Nomura Holdings, is in the process of acquiring Propine Holdings, a Singaporean competitor. Subject to approvalKomainu has signed an agreement in principle with Propine to acquire the company, according to a press release published on Oct. 22 by PR Newswire on behalf of the two firms. One of the key elements in completing the deal is attaining the approval of local regulator the Monetary Authority of Singapore (MAS). This is Komainu’s first acquisition, and according to the firm’s co-CEO Paul Frost-Smith, it will be the first of several. According to Bloomberg, Frost-Smith stated in an interview that “an absolutely key factor in building” the business is obtaining access to Propine’s Capital Market Services license, which the company was awarded in Singapore. Frost-Smith described the acquisition as "setting ourselves up for the future with a licensed platform that we can grow." The company intends to further its efforts in terms of compliance by applying for a Major Payment Institution (MPI) license in Singapore. Komainu is motivated in developing in this manner as it has identified increasing demand from established institutions in Singapore for advisory services.Photo by RDNE Stock project on PexelsStrategic hubThe Komainu co-CEO said that the Asia-Pacific (APAC) region was central to Komainu’s heritage. With that, he added that Singapore is “an important strategic hub for Komainu in Asia and Propine will enhance our capabilities in meeting the significant client demand we are experiencing, including for Komainu Connect, our collateral management service, which is already extensively utilised by our investor clients in Hong Kong, Singapore, Malaysia, Thailand and Australia.” Back in August, global crypto exchange platform Bitfinex signed a memorandum of understanding (MOU) with Komainu Connect, with a view towards enhancing trading security. In July Komainu was added by crypto infrastructure firm Fireblocks to its Global Custodian Partner Program. The Japanese market has been one that Komainu has been focusing on. Frost-Smith asserted that it will serve as a major hub for the company, given that it is home to its primary backer, Nomura.  In November 2023, the company partnered with Crypto Garage, a regulated Japanese crypto-asset financial services firm. The collaboration extended Komainu’s dealings with the firm, given that it had invested in Crypto Garage’s parent company, Digital Garage, previously. At the time, the companies claimed that the partnership would allow them both to leverage their collective expertise. Komainu has also been following a regulatory-compliant path in other markets. In the UK, where it’s stationed, it received permission from the Financial Conduct Authority (FCA) to operate as a crypto custodian in October 2023. In August of the same year, it was awarded an operating license by the Virtual Asset Regulatory Authority (VARA) in Dubai. Alongside Nomura, the company was also established with the backing of digital asset security firm Ledger and digital asset investment manager CoinShares. Earlier this year, Komainu was approved by Nasdaq to be a core custodian relative to its suite of crypto indices. 

Blofin Expands Into Vietnamese MarketBlofin, a cryptocurrency exchange officially headquartered in the Cayman Islands but with a strong connection with China, has entered the Vietnamese market.That’s according to a press release issued on behalf of the company on Friday.Exploiting Vietnamese potentialVietnam has emerged as a global leader in cryptocurrency adoption, with approximately 21% of its population reported to own cryptocurrencies. Recognizing the immense potential of the country, Matt Hu, the Chinese CEO of Blofin, expressed his excitement about entering the Vietnamese market. He emphasized the rapid growth of Vietnam’s cryptocurrency industry, noting that the country has become an attractive destination for crypto ventures within a mere three years.“We take pride in offering Vietnamese users a reliable and accurate trading platform that fulfills their needs,” Hu stated.Photo by Tron Le on UnsplashBespoke market offeringIn line with this commitment, Blofin has developed a comprehensive product available in the Vietnamese language. Furthermore, the exchange has established dedicated support for the Vietnamese community to ensure a positive user experience and address any inquiries or concerns.To enhance user engagement, Blofin is actively building connections with influential figures in Vietnam, collaborating with innovative projects, and engaging with local crypto communities. By fostering these relationships, the exchange aims to become an integral part of the Vietnamese cryptocurrency ecosystem. Blofin stands out among its competitors by providing unmatched convenience and security for crypto futures trading.Those are the aspirations of the company but in no way can it expect to achieve this without significant market challenges. In Vietnam, the platform will go head to head with existing market incumbents, Binance, Exness, and Skilling. Binance is the market leader, supported by a depth of market trade volume.There is also the potential for future obstacles in terms of local regulation. In the past, the Prime Minister of Vietnam, Pham Minh Chinh, has said that there’s a need for the Southeast Asian country to scrutinize cryptocurrency regulation. Additionally, the State Bank of Vietnam has warned previously that cryptocurrencies present a risk to Vietnamese consumers insofar as they are not protected by Vietnamese law in owning, trading, and using them.Enticing futures tradersLaunched in January, Blofin’s cryptocurrency futures trading offering attempts to provide users with an exciting and rewarding experience. The platform incorporates pragmatic security measures, including AI-powered algorithms, robust infrastructure, and comprehensive analysis tools. Designed to provide all users with equal, transparent, and highly effective trading opportunities, Blofin invites the best and brightest futures traders to join its pioneering program.Blofin has been around since 2019. In May of last year, it launched the Blofin App as a one-stop investment and asset management platform. The company has obtained money services business (MSB) licensing from FINCEN in the United States. It has also obtained a fund license from the Cayman Islands Monetary Authority (CIMA). According to a press release published last year, it has also been working towards licensing in Hong Kong, Canada, and Singapore.The entry of Blofin Exchange into Vietnam’s thriving crypto market should serve to enhance the depth of market infrastructure available to Vietnamese users, contributing towards the further development of the digital asset revolution.

2023 has been a year of significant growth for Com2uS Holdings subsidiary Com2uS Platform, which has gained recognition for leveraging blockchain technology to bring content-focused services to users around the world. "This year, Com2uS Platform has achieved high growth in all fields," said CEO Choi Seok-won, according to an article by Korean news outlet Kuki News. "In the coming year, we will not only serve as the technology hub of the Com2uS Group but also actively engage in other projects to become the center of the global Web3 ecosystem."Photo by Pawel Chu on UnsplashExpanding horizonsIndeed, the firm’s subsidiaries, including the blockchain-based game development service Hive and NFT marketplace X-PLANET, have been leading various business ventures. The former has signed contracts with 40 games from 27 gaming companies this year alone. In terms of newly signed game titles, this marks a 307% year-on-year growth. The latter, on the other hand, ranked first in sales among domestic competitors last month, arguably driven by its collaboration with Toei Animation and Korean publishing company Daewon Media on a special NFT drop celebrating the 35th anniversary of Choushinsei Flashman’s Korean release. Choushinsei Flashman is a popular Japanese live-action superhero series that aired in the 1980s, earning fans all over South Korea. In line with these efforts to pursue projects with trendy topics, the company also teamed up with South Korean game developer ArumGames to create a game utilizing Com2uS’ Bungopang IP, which will be launched next year.  Strategic alliancesCom2uS Platform's global expansion has also seen tangible results, such as a recent business partnership with Bangkok-based marketing and game service company SHIN-A, which will play a role in its foothold in Thailand, a key emerging market. Under the agreement, SHIN-A has committed to establishing a Hive team in Thailand and serving as an official global reseller. The platform has also been active in the public sector, signing contracts with various public organizations such as the Seoul Business Agency, Gwangju Information and Content Agency and Korea Creative Content Agency to train practitioners in a wide range of fields across IT and entertainment, such as the internet, AI, big data, fintech, metaverse and gaming. These projects are expected to lead to the discovery of young talent and facilitate more opportunities for collaboration with gaming companies.