Sei Labs Raises $50M to Fuel Asian Expansion

Raon Whitehat Enables College Students to Hone Skills Through MetaverseRaon Whitehat, a blockchain-based service provider of South Korean tech security firm RaonSecure, is set to launch Raon Metademy, a cutting-edge metaverse-powered professional training platform, for universities.Inviting beta testersToday, Raon Whitehat announced the successful completion of the beta version of Raon Metademy, developed in collaboration with edtech company Globepoint. The company is now inviting beta testers from university departments and educational institutions to participate.Interested universities can apply on the Raon Metademy website, with beta testing planned until the end of August. During this period, Raon Whitehat will gather valuable feedback to further enhance the platform. The official launch is scheduled for September 1 to support university classes.Effective remote practicesRaon Metademy boasts a metaverse-based training approach, offering users access to a virtual campus where they can attend lectures and practice essential skills. The platform’s highly immersive user experience allows students to create personalized avatars, explore the campus, access announcements, have a look at training courses, and utilize the training room. With vivid 3D visuals and realistic video-based exercises, students can effectively practice their skills from remote locations.Additionally, users can set up private labs to address their weaknesses, engage in discussions, and build a community similar to a physical campus environment. Among the confirmed beta testers are Chung-Ang University and Seoul Women’s University, and the application window for other institutions will remain open until mid-August. The initial beta service will focus on nursing skills, physical therapy, and security practices, with plans to expand the content to include caregiving practices and more.Photo by Nhia Moua on UnsplashDigital credentials and NFTsRaon Metademy aims to provide certificates of completion and awards of excellence in the form of digital badges, simplifying the process of submitting credentials to universities and other organizations. The platform will also introduce non-fungible tokens (NFTs) to benefit content providers, facilitating secure trading of educational materials among students.Leveraging RaonSecure’s cutting-edge technologies, including blockchain and NFTs, Raon Metademy aims to become a versatile platform open to content providers, educational institutions, and individuals alike. This will enable students to access a diverse range of captivating lessons from anywhere and give lecturers the ability to earn income by delivering high-quality hands-on training with minimal equipment and material costs.

Blockstream, a blockchain technology firm headquartered in British Columbia, Canada, has moved to expand its activities in Japan with the opening of a new office and the announcement of a partnership with local companies. The infrastructure development company has partnered with Diamond Hands and Fulgar Ventures, CoinDesk Japan reported. Diamond Hands is a Japan-based company involved in providing Bitcoin-related products. It helps companies to integrate Bitcoin and lightning payments into their services. Based in Wilmington, Delaware, Fulgur Ventures invests in early-stage startups. It is particularly focused on Bitcoin and Lightning Network-related projects.Photo by David Edelstein on UnsplashBootstrapping brand awareness Fulgur Ventures is Blockstream’s largest shareholder. The objective is to bootstrap brand awareness within Japan using these partnerships with local companies. To that end, Diamond Hands CEO Koji Higashi will become Blockstream’s brand ambassador. It’s thought that efforts will be made going forward to further expand partnerships with local Japanese companies. Blockstream announced in a press release that it aims to drive adoption of self-custody technologies and Bitcoin layer-2 innovations within the East Asian country. Furthermore, it plans to drive adoption of real-world asset (RWA) tokenization. Commenting on the development, Blockstream Founder and CEO Adam Back stated:"With increased regulatory clarity and rising institutional interest in Bitcoin now is the moment for Blockstream to establish a direct presence in Japan, one of our most important markets." Back added that the company is looking forward to “empowering Japanese enterprises and individuals to fully harness Bitcoin as the foundation for a financial future that's secure, scalable and decentralized.” Tokyo office Another aspect to the expansion involves the opening of an office in Tokyo by Blockstream.  Adam Back is a Bitcoin OG who has often been the subject of speculation in attempts to identify pseudonymous Bitcoin founder Satoshi Nakamoto. Back proposed Hashcash, a proof-of-work-based system and forerunner to Bitcoin, in 1997. The Japanese corporate world has demonstrated its interest in Bitcoin in recent months, with local company Metaplanet launching an ambitious plan to acquire 21,000 Bitcoin by 2026, having adopted the Bitcoin playbook pioneered by American business intelligence and Bitcoin development company MicroStrategy. Blockstream’s investment arm, Blockstream Capital, has also been active in the market. Last month, the company invested $75 million into crypto custodian Komainu. Komainu is a joint venture between CoinShares, Ledger and Japanese global financial services company Nomura.  The same month, the company launched two institutional-grade Bitcoin investment funds. The funds, Blockstream Income Fund and Blockstream Alpha Fund, have been devised to cater to a growing demand from institutions for transparent, regulated and secure financial products. A third fund, Blockstream Yield Fund, is due to launch later this year. It will offer Bitcoin holders consistent, low-risk returns on their holdings. Blockstream was founded in 2014. In its earlier years, the company has served as a technology provider relative to the Liquid Network. In Core Lightning, it has developed a well-recognized implementation of the Lightning Network protocol.  To facilitate Bitcoin holders in terms of self-custody of the leading crypto asset, Blockstream developed Blockstream Jade, a hardware wallet built on open-source software. The device offers air-gapped functionality, meaning that users can perform transactions without connecting the device itself directly to the internet.

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.