Binance to Incubate Startups, Provide Blockchain Education in Incheon City

Gemini Targets UAE Crypto LicenseGemini, the US-headquartered cryptocurrency exchange owned by the Winklevoss twins, has announced its intention to obtain a cryptocurrency service license in the United Arab Emirates (UAE). The move comes as the exchange seeks to navigate the perceived “hostility and lack of clarity” surrounding cryptocurrency regulations in the United States.In a blog post published on Wednesday, Gemini highlighted the growing interest in cryptocurrencies among UAE citizens and referred to positive interactions with UAE regulators as driving factors behind its pursuit of the license. The co-CEOs of Gemini, Cameron and Tyler Winklevoss, explained in an interview with The National that their decision was influenced by the challenges they faced with crypto regulation in the US. Gemini CEO Tyler Winklevoss expressed optimism about the regulatory environment in the UAE, stating:“We’ve been super encouraged with our conversations here with the regulators. There’s an effort to make the UAE a home and a hub for crypto and, most importantly, to enact thoughtful regulation that connects, that protects both consumers, but also a company’s ability to innovate.”Photo by Nextvoyage on PexelsAbu Dhabi or Dubai — or bothAs of now, the Winklevoss twins have not yet determined the specific location for Gemini’s operations in the UAE. They hinted that the exchange’s headquarters could be established in both Abu Dhabi and Dubai, reflecting the potential for growth and development in both cities.Gemini’s decision to pursue a crypto license in the UAE underscores the country’s growing importance in the cryptocurrency industry. With its efforts to create a favorable regulatory environment and attract crypto-related businesses, the UAE aims to position itself as a crypto hub while safeguarding the interests of both consumers and innovators.Discouraging US outlookAccording to Gemini’s Global State of Crypto Report, which provides insights into cryptocurrency adoption and usage, more than 35% of respondents surveyed in the UAE reported purchasing crypto. In contrast, only 20% of respondents in the United States said they had bought cryptocurrencies.The report also revealed that nearly 32% of non-crypto owners in the UAE expressed their intention to enter the market within the next year. Furthermore, 33% of UAE crypto holders indicated that they plan to use their digital assets for in-person purchases at physical retailers, a significantly higher percentage compared to the global average of 19%.Although still a US-headquartered business, Gemini has been turned off the US market more recently. The Winklevii twins have taken a similar stance to Coinbase’s Brian Armstrong and Ripple’s Brad Garlinghouse. Coinbase has expanded in Singapore, acquired digital asset licensing in Bermuda, and has the intention of establishing a presence in Abu Dhabi.Garlinghouse has matched Armstrong’s outspokenness in criticizing the regulatory approach to digital assets in the United States. Likewise, he has acted to place Ripple on an international footing, establishing a presence in Dubai. In April, Gemini announced the opening of an engineering center in India, together with plans to expand its base in Singapore.As Gemini proceeds with its application for the UAE crypto license, industry observers will be closely monitoring the development, anticipating the potential impact of this expansion on the exchange’s operations and the broader cryptocurrency landscape in the region.

In an official announcement on Wednesday (KST), CeDeFi protocol NEOPIN revealed that it has signed a business agreement with Web3 consulting firm Catalyze Research and metaverse and AI tech company Futureverse to expand the global blockchain industry and discover promising Web3 projects. Strategic allianceThrough this business agreement, the three enterprises plan on working towards two main objectives: expanding the global blockchain business industry and Futureverse’s open metaverse ecosystem. To do so, they have vowed to onboard NEOPIN’s gaming business partners to the Futureverse ecosystem and create decentralized finance (DeFi) products for NEOPIN based on The Root Network. They will also host hackathons and joint campaigns in efforts to incubate and accelerate Web3 projects in South Korea. “South Korea is an intellectual property (IP) and blockchain powerhouse that serves as the backbone of the open metaverse that Futureverse is striving for. We look forward to bringing together various IPs such as games and content – including DeFi collaborations – with Futureverse’s powerful infrastructure to bring us one step closer to the open metaverse,” said Ben Ko, Co-Founder and CEO of Catalyze Research. Based in Seoul, Catalyze Research offers insights into the Web3 industry as well as consulting services like mapping and implementation of business strategies, marketing, research, due diligence and more.Photo by Shubham's Web3 on Unsplash“By working with NEOPIN, a leading DeFi company with an extensive network in South Korea, we will expand the Futureverse and The Root Network ecosystems and create an environment where users and developers can create an open metaverse together. This partnership will bring Futureverse to the forefront of the South Korean blockchain industry with NEOPIN and Catalyze’s experience, expertise, vision and insights into the Korean market,” added Futureverse CEO Aaron McDonald. Redefining gaming, blockchain and DeFiFutureverse is a developer of AI and metaverse technologies that elevate gaming experiences and enable open, scalable and interoperable applications. It is also home to one of the largest global NFT-based metaverse communities, which is being expanded through the layer 1 blockchain The Root Network. The company’s partners include globally renowned brands like FIFA, Warner Bros., Mastercard and Reebok. NEOPIN, on the other hand, has been a trustworthy node validator for multiple blockchains since 2018 with a 0% accident and slashing rate and a 99.99999% block generation rate. It has also been bringing new faces to the industry by securing, investing in and incubating numerous domestic and foreign firms. Backed by this experience, NEOPIN plans to introduce innovative DeFi products through the newest three-way partnership. “We will actively help various game and content service companies that have partnered with us to operate in the Futureverse ecosystem. Based on our trustworthiness and stability, we will contribute to leading the decentralized exchange (DEX) and DeFi services in Futureverse,” said Kim Yong-ki, CEO of NEOPIN.

South Korea’s financial authority is moving to strengthen its ability to intervene early in suspected cryptocurrency price manipulation cases by seeking explicit legal authority to freeze related accounts. According to News1, the Financial Services Commission (FSC) plans to include the measure in the upcoming second phase of the country’s cryptocurrency legislation. Under the proposal, when financial accounts are suspected of being used to manipulate crypto prices, the FSC would be able to coordinate with financial institutions and cryptocurrency exchanges to freeze the funds.Photo by Ethan Brooke on UnsplashClosing gaps in illicit fund recoveryThe initiative is intended to address a long-standing enforcement challenge. Authorities have often struggled to recover illicit gains because funds can be moved elsewhere while investigations and court proceedings—often lasting up to three years—are still ongoing. By allowing accounts to be frozen before a formal investigation is launched, the proposal aims to close a critical gap in illicit fund recovery. An official from the authority cited a recent precedent to illustrate the measure’s potential impact. In September, a government task force disrupted a stock price manipulation case involving roughly 100 billion won ($69 million), of which about 40 billion won was illicitly obtained. It marked the first time the government implemented an early account freeze, preventing additional funds from being transferred beyond its reach. The official added that the same approach could be applied to cryptocurrency price manipulation cases when suspicious transactions are detected through Korean crypto exchanges. However, the measure would not be effective against activity conducted via overseas platforms. The proposal comes as the government continues to refine the second phase of its crypto regulatory framework, which is expected to focus primarily on stablecoin regulations. While authorities had originally planned to submit the bill to the National Assembly by the end of last year, the timeline has been pushed to this year as financial and monetary regulators work through unresolved differences. One point of contention lies between the Bank of Korea and the FSC. The central bank supports allowing only bank-majority consortia to issue stablecoins, while the FSC opposes setting a bank-ownership threshold, arguing for the inclusion of non-bank participants. Alongside enforcement and regulatory reforms, the government is also signaling a broader push to expand investor access to digital assets. A Jan. 9 document from the Ministry of Economy and Finance showed the government plans to permit trading in spot crypto ETFs to improve investor access under its 2026 economic plan. Against this policy backdrop, traditional financial firms are pressing ahead with their own digital asset initiatives, seeking to position themselves within the evolving framework. Life insurer explores blockchain collaborationsKyobo Life Planet Life Insurance, a mobile-only subsidiary of Kyobo Life Insurance, has partnered with Singapore-headquartered crypto exchange Crypto.com. According to South Korean media outlet Financial News, under the agreement, eligible users will receive benefits on Crypto.com, while reward points earned through Kyobo Life Planet’s healthcare platform can be used within the exchange’s ecosystem. The collaboration reflects broader efforts by the parent company to expand into digital assets. Last month, Kyobo Life Insurance joined Circle’s public testnet, Arc, to assess the technical feasibility of stablecoin-related infrastructure.