NEOPIN and Finschia Foundation to jointly launch Finschia’s first decentralized exchange

Bullish Market Analysis Finding as Asia Doubles Crypto UsersComing off the back of the last bull run, the crypto sector has been challenged with cooling price levels also affected by global macroeconomic headwinds. Despite that, a recent crypto market study by financial news platform Finbold has found encouragement with a significant increase in crypto users, most notably in Asia.Photo by Jéan Béller on Unsplash37% increase in global usersAccording to the market data presented by Finbold on Thursday, the number of global crypto users has reached 417.5 million as of 2023, representing a year-over-year growth of 36.88%. This translates to an increase of 112.5 million users compared to the 2022 count of 305 million.Several factors contribute to the growth in crypto user numbers. The fear of missing out (FOMO) phenomenon plays a significant role, as individuals see market downturns as an opportunity to enter the market and potentially benefit from their investments.Mainstream adoption and awareness of cryptocurrencies have also attracted new users, aided by the accessibility and convenience of crypto platforms and exchanges. Additionally, the acceptance of cryptocurrencies as a form of payment by businesses has further fueled user growth.In emerging markets with unstable economies and limited access to traditional banking services, cryptocurrencies have been embraced as an alternative and inclusive financial solution, driving adoption in those regions.Standout growth in AsiaAsia leads the way with 260 million users as of May 2023, marking an astonishing 100% growth from the previous year’s figure of 130 million. North America follows with 54 million users, witnessing an addition of 3 million compared to the 2022 count of 51 million.When examining crypto ownership in relation to the population of each country, Thailand claims the top spot in 2023 with a share of 9.32%. India comes in second with 7.23%, followed by Brazil at 6.98%. Pakistan ranks fourth with 6.4%, while France rounds out the top five with 5.9%.Observers believe that regional crypto user trends will be influenced by regulations. Asia dominates the market, driven by the increasing adoption of blockchain-based payment solutions in countries like India, China, Singapore, South Korea, and Japan, particularly within the banking, financial services, and insurance sectors.African & European user declineAfrica experienced a decline of 28%, going from 53 million to 38 million users. Similarly, European users dropped from 43 million to 31 million. Notably, Europe has witnessed a drop in usage, coinciding with the enactment of the Markets in Crypto Assets (MiCA) law, which aims to create a legal framework for the crypto asset market.The growth in global user numbers is remarkable, considering the challenging phase the crypto sector has been going through. High-profile incidents, including the FTX crypto exchange collapse and the Terra (LUNA) ecosystem crash, have eroded trust within the sector. Moreover, the crypto market has had to navigate an uncertain regulatory landscape, with jurisdictions like the United States cracking down on the sector.Lawsuits filed by the US Securities and Exchange Commission (SEC) against Ripple, Binance, and Coinbase for alleged securities laws violations are likely to discourage investor involvement. Regions with stricter regulations, such as North America and Europe, are expected to lose crypto business to the Asia-Pacific region.

X-TICKET teams up with Catalyze Research for XRPL expansionSouth Korean Web3 performing arts platform X-TICKET has signed a memorandum of understanding (MOU) with Catalyze Research, a Web3 research firm and an official partner of Ripple, to jointly expand the XRP Ledger (XRPL) ecosystem and support the integration of Web3 into Korea’s performing arts landscape.Photo by Kanchanara on Unsplash“We are delighted to work alongside Catalyze Research. The XRPL ecosystem, together with XRP, is poised to play a significant role in bringing the Korean performing arts industry onto the global stage. We hope to create synergies through collaborations with Korean cultural performances,” said X-TICKET CEO Shin Yong-un.Leading a new era of event ticketingX-TICKET harnesses blockchain technology to provide digital collectible tickets for performing arts shows, including live musicals like “Cats” and “The Phantom of the Opera.” This service is expected to revolutionize the industry by preventing various problems that tend to occur with ticketing, such as duplication, loss and scalping, thus fostering a secure, transparent and efficient performing arts ecosystem. The platform recently launched its beta version and held a sales event for NFT tickets to “The Phantom of the Opera” shows.Pioneering Web3 solutionsCatalyze Research, on the other hand, specializes in Web3 and blockchain research and consultations. The firm teamed up with Ripple in July to expand the presence of XRPL in the Korean market — a decentralized, public blockchain for businesses and developers — and encourage participation in the XRPL developer community.“Catalyze Research is actively engaged in numerous collaborations to expand the XRPL ecosystem. We plan to implement blockchain technology into X-TICKET and the Korean performing arts sector to extend the ecosystem’s reach,” the firm stated.The partnership between the two enterprises represents a significant step forward in the intersection of technology and the arts in Korea.

DeSpread, a Korea-based consulting firm specializing in Web3 and blockchain, announced today its partnership with Arbiturm, a Layer 2 network built on the Ethereum blockchain. This news was reported by local media outlet Etoday. Through the partnership, DeSpread aims to create an ecosystem for Arbitrum developers, seek collaboration with Korean enterprises and attract more onchain users. Photo by Sigmund on UnsplashArbitrum is one of the largest Layer-2 blockchains operating on the Layer-1 Ethereum network, designed to address the scalability issue of the ETH network. DefiLlama, a DeFi total value locked (TVL) aggregator, shows that Arbitrum has the fourth largest TVL among all chain networks, and the largest TVL among ETH-based Layer 2 networks. To foster Arbitrum-based services, DeSpread plans to distribute research content and development guides to Korean developers in an effort to bring down the language and cultural barriers when working with Arbitrum. Regular events featuring Arbitrum experts are also in store, set to be held both online and in-person formats. These efforts are intended to help companies seeking to adopt blockchain technologies collaborate with Arbitrum.   Forging an ecosystem within the Korean ETH communityJeff Kim, Head of operation at DeSpread, expressed his excitement about the partnership with Arbitrum, saying that Arbitrum is the network showing the strongest performance among all Layer 2 solutions on the ETH network. He added that Despread plans to support Arbitrum so that it can create its ecosystem within the Korean Ethereum community and raise its brand awareness. Nina Rong, Head of Ecosystem Development at Arbitrum, stated that Arbitrum has long been keeping an eye on Korea’s blockchain ecosystem. The partnership will help Arbitrum strengthen its position in the Korean market and shape a developer-friendly environment for individuals and businesses, she said.