Crypto emerges as topic in Indonesian election campaign

AsiaNext, a Singapore-based institutional digital asset trading venue, has officially rolled out its cryptocurrency derivatives trading platform.Photo by Kirill Petropavlov on UnsplashWintermute and B2C2 collaborationsThe launch involves notable trading members such as Wintermute and London-headquartered liquidity provider B2C2. B2C2 is a subsidiary company of Japanese financial services conglomerate SBI Holdings. SBI acquired the company in August of last year with B2C2 expressing the view that the acquisition would represent an opportunity for the company to broaden its client base. SBI partnered with Swiss financial infrastructure firm Six Group in a joint venture to establish AsiaNext back in 2020 with a view towards driving institutional digital asset liquidity. Meanwhile, Wintermute’s involvement with AsiaNext in this instance follows its move in 2023 to expand its Singapore base, where it conducts its derivatives business. In November, Wintermute Asia conducted its first-ever options block trade through the CME Group, one of the world’s leading derivatives marketplaces. Wintermute's Founder & CEO, Evgeny Gaevoy, highlighted the significance of the partnership with AsiaNext in the context of traditional financial institutions seeking alternative exposure to digital assets. Gaevoy stated: "Partnering with AsiaNext enables us to elevate our derivatives offering, positioning Wintermute in the foreground of the expanding digital asset ecosystem." The AsiaNext platform asserts that it provides enhanced risk management with reduced counterparty and settlement risk. Additionally, AsiaNext offers capital efficiencies through intraday margining and settlement processes, supporting high-frequency trading and ensuring availability 24/7 for crypto derivatives trading. Chong Kok Kee, CEO of AsiaNext, emphasized the platform's commitment to providing a secure environment for institutional investors to explore digital assets in the region. By prioritizing regulation and rigorous governance, AsiaNext aims to establish itself as a trusted venue for exposure to digital assets. B2C2 CEO Thomas Restout commented on the positive nature of the collaboration. He stated:”We’ve witnessed [AsiaNext’s] unwavering commitment to governance and risk management, alongside their focus on aligning closely with our needs. This instills a high level of confidence in our partnership. Being at the forefront of digital asset adoption, we are pleased to provide liquidity on the venue through our collaboration.” Licensing approvalsIt's worth noting that AsiaNext obtained a Recognized Market Operator (RMO) license from the Monetary Authority of Singapore (MAS) in September. However, this license specifically pertains to tokenized securities, and as such, the crypto derivatives trading operates through a separate subsidiary. In June the company had acquired in-principle approval for a Capital Markets Services (CMS) license. On the digital securities front, SIX Digital Exchange (SDX) and Osaka Digital Exchange (ODX), operated by SIX and SBI respectively, play key roles in secondary markets, showcasing the partners' commitment to advancing regulated digital securities markets. Launched in late 2021, SDX was the world's first regulated digital securities market. SBI followed suit with the recent launch of ODX on Christmas Day. The anticipated approval of the first U.S. spot bitcoin ETFs adds a timely dimension to the launch, potentially driving increased demand for hedging strategies in the market. 

CarrieVerse joins Dubai’s DMCC as metaverse service providerWeb3 metaverse platform CarrieVerse has joined the Dubai Multi Commodities Centre (DMCC), the UAE’s largest free-trade zone for a wide array of companies including those in the blockchain and crypto industry. Last month, CarrieVerse received final approval to establish a local subsidiary there, which will serve as a hub to expand its global Web3 ecosystem, particularly in the Middle East and North Africa (MENA) region.Photo by ZQ Lee on UnsplashAn ever-growing business hub“DMCC has recently risen as a hub for Web3 companies and investors that is actively supported by the Dubai government and the royal family. As the first Korean Web3 company to officially partner with DMCC, we expect that CarrieVerse will grow into a global company here,” said David Yoon, CEO of CarrieVerse.DMCC is a UAE government agency located in the Jumeirah Lakes Towers district of Dubai and is currently led by Executive Chairman and CEO Ahmed Bin Sulayem. It is home to more than 23,000 companies ranging from startups to large corporations and has been named Global Free Zone of the Year by the Financial Times’ FDI Magazine for nine consecutive years since 2015.Notably, the zone also has a Crypto Centre for blockchain and crypto businesses, including big names like Binance and Bybit. It has been supporting companies by providing funding, incubation, peer-to-peer matching and opportunities for collaboration.According to Zaher El Orm, the Crypto Centre Executive at DMCC, the Crypto Centre also supports businesses in their pursuit of crypto licenses for business activities and regulated virtual assets activities. These include blockchain as a service, metaverse service provider, crypto proprietary trading and crypto mining activities. CarrieVerse revealed that it has officially obtained a license as a metaverse service provider.Promising outlook for CVTXDMCC is now an official partner of CVTX, the platform’s governance token, which is expected to boost the token’s momentum on global exchanges. It has recently been listed on the Singapore-based digital asset exchange BingX. This will further help the platform secure partnerships with more than 1,000 leading global Web3 companies at DMCC.CarrieVerse and DMCC stated that they plan to reveal the roadmap of their partnership in the future.

AliExpress Partners With ‘The Moment3!’ NFT ProjectAliExpress, the renowned global e-commerce platform and subsidiary of China’s Alibaba Group, is making its entry into the world of non-fungible tokens (NFTs) through a newly announced partnership with The Moment3!, a Web3 project. The collaboration aims to release a collection of 5,555 NFTs later this month.Photo by Andrey Metelev on UnsplashWhat is ‘The Moment3!’?Oddly, we know very little about the project. Its Telegram channel has just been established, it doesn’t have a website, while its Discord and Twitter channels are also recently established with modest followings. Anonymity is a feature in Web3 and perhaps that’s the approach this project is taking. Whatever the background, it has to be said that there must be some talent behind the project for it to secure the backing of an entity like AliExpress by way of this partnership.This recent announcement was initially made on AliExpress’ official Twitter account but that tweet has since been removed. The project itself tweeted out news of the partnership on Thursday. The Moment3!’s mission, as stated in its Twitter bio, revolves around utilizing NFTs to immortalize special moments on the blockchain.According to the project’s Discord channel, The Moment3! aims to connect with real-world businesses and provide NFT owners with benefits and exclusive rights beyond the collectible value.NFT debutThis marks AliExpress’ initial venture into the NFT market, although its parent company, Alibaba, has previously explored the Web3 space. In September 2022, Alibaba’s luxury shopping platform, Tmall Luxury Pavilion, introduced an immersive shopping metaverse experience and introduced the Meta Pass, granting users free access to virtual experiences.Alibaba-Centric Web3 projectsThere have been several other Web3-related investments and developments related to Alibaba Group companies in recent months.Last month, Alibaba Cloud, one of the world’s largest cloud computing companies, joined forces with the Avalanche layer one blockchain project to introduce “Cloudverse,” a launchpad facilitating the creation of personalized spaces within the metaverse for businesses.In April Alibaba Cloud was the co-organizer of the Web3 Festival, an event held in Hong Kong to showcase the autonomous Chinese territory for the development of the Web3 sector. The four-day event attracted 10,000 attendees.In early May, Artifact Labs, a Hong Kong-based start-up company that specializes in metaverse and Web3 product offerings, raised $3.25 million in a funding round led by Blue Pool Capital. The investment firm is the personal investment vehicle of Alibaba founders Jack Ma and Joe Tsai.NFT warningAliExpress, owned by Alibaba Group, is a global e-commerce platform that does not cater to customers in mainland China, despite being headquartered in China. The Chinese government prohibited all cryptocurrency transactions in September 2021. NFTs remained legal although authorities recently issued a warning on their use, together with some guidelines.With its new collaboration, AliExpress is expanding its reach into the Web3 space and exploring the potential of NFTs. As the release date approaches, anticipation grows to witness the specific features and benefits offered by the 5,555 NFTs that will soon be available to the public.