Korean Web3 Enabler Participates in NFT.NYC 2023

Switzerland and Singapore-based crypto bank Sygnum has successfully closed a funding round, securing over $40 million in capital, with plans to expand its service offering in Asia. On the brink of unicorn statusThe funding round was achieved based upon a post-money valuation of $900 million, with Sygnum edging closer to unicorn status. Led by global asset management group Azimut Holdings, the funding surpassed the initial target of $35 million, reinforcing Sygnum's position in the rapidly evolving digital assets space. In a press release, Mathias Imbach, Sygnum's co-founder and CEO, expressed excitement about the successful funding round, highlighting the company's commitment to building trust through regulation and good governance. Imbach stated:”Our core thesis has always been that Future has Heritage, and our strategy to build trust via regulation and good governance has guided us throughout all market cycles. ” Gerald Goh, Sygnum's co-founder and CEO of its Singapore operations, emphasized the importance of staying ahead as clients' needs and activities grow more sophisticated. The fresh funds will enable Sygnum to continuously upgrade and enhance its product and service offerings in response to evolving market demands.Photo by Towfiqu barbhuiya on UnsplashAsian focusThe funds raised in this round will be instrumental in expanding Sygnum's geographical reach into new markets in 2024, within the Asia-Pacific (APAC) region as well as within the European Union. Sygnum has already made in-roads in Asia. Having started out in Switzerland, in 2019 the company set up a base in Singapore, establishing Sygnum Singapore and obtained a capital markets license from the Monetary Authority of Singapore (MAS). Last June, the firm achieved in-principle approval for a Major Payment Institution (MPI) license from MAS. It fulfilled the regulator’s requirements to bring about full approval in October. Goh told Bloomberg that the company envisages achieving growth in Asia and Europe through acquisition.  Developing fully regulated productsThis latest capital injection has also been earmarked to accelerate the development of fully regulated products, including the bank-to-bank platform that currently powers crypto offerings for more than 15 banks and financial institutions worldwide. Sygnum's assets under management have surged to $4 billion, with a client base exceeding 1,700 from over 60 countries. At the end of 2023, the firm reported an annualized revenue run rate (ARRR) exceeding $100 million, marking a significant milestone for the company's financial health and positive cash flow. Sygnum's expansion efforts include collaborations with key players in the industry. In November, the bank furthered its partnership with the Singapore arm of 174-year-old private bank Bordier & Cie, strengthening their initial collaboration that started in Geneva in 2021. Giorgio Medda, CEO of Azimut Holding, highlighted the strategic partnership between Azimut and Sygnum since 2021, emphasizing their joint development of the first tokenization of a private credit portfolio in Europe. Despite the recent challenges in the crypto industry, Sygnum remains optimistic about the future. The broader industry is witnessing a resurgence, with investors and market participants seeking partnerships with trusted and well-managed financial institutions. This sentiment aligns with Sygnum's vision to provide fully regulated solutions and support investors as they increase exposure to the asset class. 

Korean mobile game company Com2uS Holdings’ blockchain mainnet XPLA has announced today that it entered a partnership with SOOHO.IO, a Seoul-based security services provider for smart contracts. This news was reported by the local online media iNews24. The partnership aims to enhance blockchain security and facilitate public access to decentralized finance (DeFi). Photo by GuerrillaBuzz on UnsplashXPLA’s further push into the Japanese marketEstablished by local security experts in 2018, SOOHO.IO is currently providing smart contract technologies to approximately 200 big companies and validation institutions. Furthermore, SOOHO.IO is a developer and operator of Tealswap, the sole decentralized exchange on the Oasy network that specializes in blockchain games.  An insider from XPLA expressed excitement about this partnership, stating that the collaboration with SOOHO.IO will enable the game company to strengthen its position in the Japanese Web3 gaming market.  Smart contract-powered securityXPLA, already closely partnered with Oasys, promises to provide financial solutions equipped with safe and convenient smart contract security to Web2 users by strengthening collaboration with SOOHO.IO.  Paul Kim, the head of XPLA team, said this partnership will revolutionize the Web3 games and entertainment industry, with the company’s plans to introduce easy-to-access DeFi services and “GameFi,” a concept that combines game and finance.  Park Ji-su, CEO of SOOHO.IO., expressed his excitement about partnering with the global mainnet XPLA, which he thinks will bring substantial synergy effects for both companies through the sharing of key technologies. 

BPMG to Showcase Blockchain Gaming Platform ‘GemHUB’ at G-STAR 2023South Korean blockchain tech company BPMG is set to visit the southern port city of Busan next month to participate in global game exhibition G-STAR 2023. BPMG will install a booth in the Business-to-Business (B2B) section in Exhibition Center 2. At the event, the company intends to highlight its Web3 gaming platform, GemHUB, and establish connections with potential partners. These collaborations will pave the way for BPMG to enter the global blockchain gaming market.Photo by Ahmed Atef on UnsplashGaming platform for competitionBPMG will also promote GemPION, a new game service that it will launch on November 16 in collaboration with global blockchain firm Everscale. GemPION stands out as a dedicated platform for competitive gaming, offering users of games hosted on the platform the opportunity to participate in tournaments and various missions. This blend of gaming and mission-based challenges is expected to deliver a more immersive and engaging experience for users.New, additional gamesIn anticipation of the G-STAR exhibition, BPMG is working to onboard four new games onto its platform. One of them is strategy battle RPG Heroes9 with NFT, and the other three are puzzle games: Jewel Dungeon Quest, Mayan Cryptex, and Farm Raid Mission.Furthermore, GemHUB has plans to introduce 10 additional games, including MMORPGs like Rappelz Universe, Flyff Universe, and Dark Eden M, along with social game Every Farm. This expansion aims to enrich the gaming offerings on the GemHUB platform, catering to a wider audience of players.