Strategic investment sees C1 Secondaries Fund target Animoca Brands

Wemade Partners with Katnappe to Bring Arcade Game to Blockchain PlatformSouth Korean blockchain game developer Wemade has entered into a partnership with Katnappe sp. z o.o. to introduce Hoomeez, a multiplayer casual arcade game from the Poland-based indie game publisher, onto Wemade’s blockchain gaming platform, WEMIX PLAY.Hoomeez has been developed by Sourena Games Studio and is made accessible to players worldwide through Katnappe, which was established in 2008.Photo by Shubham Dhage on UnsplashAddition of casual gamesThanks to this partnership between these two entities, users of WEMIX PLAY will now have the opportunity to engage in casual games like racing, ball games, hazard elimination, and coin collection, using cartoon avatar Hoomie, and compete with friends from around the world.Through collaborations with game companies across North America, Europe, and Asia, Wemade has been strengthening the competitiveness of WEMIX PLAY, and its commitment extends to acquiring a broader range of games encompassing various genres.Omnichain network developmentWemade’s global collaborations extend beyond the realm of gaming and encompass the development of the Web3 ecosystem. Recently, Wemade’s WEMIX Foundation forged a strategic partnership with oracle solutions provider Chainlink Labs in order to establish an omnichain network named the Unbound Networking and Accelerating Growth Initiative (Unagi). Blockchain oracles allow developers to bring data from off-chain sources onto the blockchain.In this collaborative effort, the two companies will implement the Chainlink Cross-Chain Interoperability Protocol (CCIP) into Unagi’s core engine, unagi(x). The integration of CCIP will facilitate the creation of a decentralized omnichain messaging protocol, enhancing the ability to conduct swift and secure transactions between on-chain and off-chain systems.Furthermore, Chainlink Labs will become the inaugural member of the Certified Organizations for Unagi Round Table (COURT), a group dedicated to advancing technological research and development with the aim of nurturing a sustainable omnichain ecosystem.Leveraging the support of Unagi, the WEMIX Foundation is working towards connecting diverse blockchains to construct an extensive Web3 ecosystem. Additionally, the foundation is committed to an ongoing recruitment drive for global partners, seeking to expand the ranks of COURT members in pursuit of technological innovation.Sergey Nazarov, the co-founder of Chainlink Labs, shared his excitement about collaborating with Wemade to further the widespread adoption of Web3 games. He mentioned that Chainlink’s CCIP will open new horizons for unagi(x) in the blockchain sphere and help it secure interoperability between different blockchain networks.Henry Chang, CEO of Wemade, resonated with this perspective. He emphasized that their partnership stems from a mutual goal of advancing technological innovation and shaping the blockchain’s future. Chang expressed that Chainlink’s CCIP will bolster the Korean company’s efforts in enhancing its user-centric Web3 gaming platform.

India has once again emerged as the global leader in cryptocurrency adoption for the second consecutive year, according to the latest Chainalysis Global Crypto Adoption Index for 2024. Despite strict regulations, including high taxes and restrictions on foreign exchanges, India continues to see widespread participation in digital assets, showcasing resilience in the country’s growing cryptocurrency ecosystem.Photo by Jovyn Chamb on UnsplashIndia leads in crypto adoptionIndia ranked first out of 151 countries in the 2024 Chainalysis report, maintaining its top position from 2023. Indian investors have continued engaging with both centralized and decentralized finance (DeFi) platforms despite regulatory challenges such as the 30% capital gains tax and a 1% tax deducted at source (TDS) on crypto transactions. This activity highlights the country's strong interest in digital assets. India received $143 billion in crypto inflows from July 2023 to June 2024, placing second in the Central and Southern Asia and Oceania (CSAO) region behind Indonesia, which received $157 billion. CSAO as a whole accounted for $750 billion in crypto assets over the same period, making up 16.6% of global crypto activity. Offshore exchange restrictions and workaroundsIn December 2023, India’s Financial Intelligence Unit (FIU) issued show-cause notices to nine offshore cryptocurrency exchanges, including Binance, Kraken and KuCoin, for non-compliance with anti-money laundering laws. The FIU also blocked access to these platforms for Indian users. However, many investors found ways to bypass these restrictions, continuing to access these exchanges via pre-downloaded apps. Despite these regulatory hurdles, Binance and KuCoin have since re-entered the Indian market after paying fines and complying with local laws. Binance settled a $2.25 million fine in June 2024, while KuCoin resolved a $41,000 penalty in March 2024. Indonesia’s rapid growth in cryptoIndonesia on the other hand has emerged as the fastest-growing crypto market in the CSAO region, climbing four places to third in the global rankings. The country experienced a nearly 200% year-over-year increase in crypto activity, driven primarily by retail investors seeking alternative investments such as meme coins. Indonesia received $157.1 billion in crypto inflows during the 12-month period, reflecting strong engagement with decentralized finance services. Broader regional trendsSeven of the top 20 countries in Chainalysis’ adoption index come from the CSAO region, including Vietnam, the Philippines and Pakistan. This growth is fueled by investment opportunities and an embrace of digital assets as new financial tools. Countries with lower purchasing power tend to have higher adoption rates, with retail-sized transactions making up a significant portion of activity.India’s resilient crypto marketDespite regulatory challenges, India’s crypto market continues to thrive. The government's strict policies have done little to dampen enthusiasm for digital assets. Chainalysis found that investors remained committed to crypto, even as the country enforces strict tax policies. India’s high adoption rate reflects strong demand and adaptability in the market. Future outlook for India’s crypto ecosystemIndia’s leadership in crypto adoption is expected to continue. The FIU is reviewing applications from more foreign exchanges, with at least two expected to be approved by the end of 2025. As the regulatory landscape evolves, clearer guidelines could encourage further growth and innovation in the digital asset space.

BIONES partners with Bithumb Burrito Wallet for integrated service developmentBIONES, the developer of Bio Passport, a blockchain-based medical record and healthcare data management service, announced Wednesday that it has signed a memorandum of understanding (MOU) with Rotonda, the operator of the cryptocurrency wallet Bithumb Burrito Wallet. Burrito Wallet’s services are expected to be integrated into Bio Passport to expand accessibility and grow the blockchain ecosystem.Photo by Julia Zyablova on UnsplashRevolutionizing healthcare with blockchainBio Passport is notable for its blockchain-based features. This includes secure management and storage of personal healthcare information, built on distributed identification technology; a token reward system; and a decentralized application (dApp) service that allows users to contact their healthcare providers remotely, among other functions. The company’s ultimate goal is to provide telemedical services so that patients can receive consultations without having to visit a hospital or clinic in person.Simplifying crypto transactions across the worldLaunched in February, Burrito Wallet’s primary functions include convenient chat-based cryptocurrency transfers and crypto swapping. It is the largest multi-chain wallet in Korea that supports 11 mainnets, including Bitcoin and Ethereum, as well as over 1,000 token currencies.It was also recently launched in Latin America, accelerating its global expansion. Notably, users of the service in this region will have access to on- and off-ramp functions for buying and selling crypto.Strategic collaborationThrough this agreement, BIONES said that it would work with Rotonda in blockchain-related business endeavors and participate in various activities for joint development, such as user acquisition, blockchain ecosystem expansion and marketing projects.“Burrito Wallet has a variety of functions, from storing and managing crypto assets to transfers and swaps. Users can take advantage of increased safety and convenience while enjoying user-friendly wallet services,” BIONES said. “By integrating Burrito Wallet into the Bio Passport app, we aim to make it easier for more users to use our Web3-based dApps, and we plan to expand the blockchain ecosystem to create synergized effects through active marketing and technical cooperation.”