Digital wallet D’CENT and Astar Network team up to bring scalable wallet services to users

Architecture Metaverse Platform STELSI Attracts Strategic Investment from Nexus OneSTELSI, a blockchain-based metaverse construction project, has announced that it has secured a strategic investment from global crypto asset venture capital firm Nexus One.Bridging architecture and the metaverseSTELSI is a Build-to-Earn (B2E) decentralized metaverse island that provides a realistic and intuitive extended reality (XR) experience where users can design, construct, and manage their own buildings. Built with the 3D creation tool Unreal Engine, it aims to support the seamless application of blockchain technology across various fields of the construction industry, including architectural planning and design, construction, and real estate. The platform also has its own token, STELSI, which users can earn by staking building NFTs.Photo by C Dustin on Unsplash“At STELSI, we are building a metaverse platform that converts the works of architects and artists into digital assets, providing new economic value and creative opportunities that have not been experienced before,” said the platform’s CEO Ryan Shim. “I believe that our efforts to make the traditionally conservative construction industry more flexible appealed to Nexus One as an attractive investment point.”Nexus One professionally invests in blockchain and crypto projects such as Klaytn, PlayDapp, and ProBit. Through its latest investment in STELSI, Nexus One aims to contribute to the development of more diverse content related to architecture, producing economic benefits and creative value within the realms of Web3, construction, and lifestyle.On the other hand, STELSI plans to use this opportunity to expand its services to produce various copyrighted content and foster its ecosystem.Promoting the world of digital artSTELSI had previously hosted the first STELSI Media Art Biennale on its metaverse platform back in June, where the company highlighted the potential of metaverse media art, a budding artistic field. Furthermore, it is consistently striving to promote the value of art through technology, as seen in “One Earth: Art Pia,” a digital art survival show currently streaming on the Korean OTT platform Wavve.The platform is also preparing for a token airdrop event ahead of the launch of its decentralized application (dApp) on October 16.

Korean Financial Authority Grants This Year’s First VASP Approval to Infinite BlockThe Financial Intelligence Unit (FIU), a division operating under the South Korean Financial Services Commission (FSC), has recently granted approval to Infinite Block, a blockchain fintech company, to function as a virtual asset service provider (VASP), as reported by the local news outlet Business Watch.37 registered VASPs in KoreaInfinite Block is the first entity to secure such approval from the national financial regulatory authority this year. This development takes the roster of registered VASPs in Korea to a total of 37.When submitting its application in May, Infinite Block declared that its business is tailored for transferring, storing, and managing virtual assets. Its core operational domain centers around virtual asset custody services.Custodian service for institutional investorsFounded last year by Jung Gu-tae, who previously served as a banker at NongHyup Bank and held a C-level position at digital asset custodian Cardo, Infinite Block leverages his extensive experience in banking and virtual assets. Building on this industry insight, Infinite Block is about to introduce Karbon Custody, a specialized service targeting institutional investors.Furthermore, Infinite Block raised about 2 billion KRW ($1.5 million) last year from renowned financial institutions including Daegu Bank, SK Securities, and Infobank. However, the company did incur an operating loss exceeding 200 million KRW due to its nascent stage and the absence of revenue streams.This accomplishment of Infinite Block is noteworthy in light of the decline observed in new VASP filings. While 2021 saw approximately 30 companies applying for VASP approval, the numbers dwindled to merely two new applications last year, followed by only one so far this year.

Velo Token (VELO) has experienced a significant surge in popularity within Southeast Asia's crypto market, drawing comparisons to established players like XRP. Market intelligence platform Santiment highlighted VELO's meteoric rise, noting a substantial 358% increase in price over the last six weeks. This remarkable performance has captured the attention of investors and analysts alike, leading to discussions regarding its potential to become the "XRP of Southeast Asia."Photo by Lucas George Wendt on UnsplashFactors driving VELO's growthThe primary factor fueling VELO's rapid ascent is its substantial trading volume, particularly in the Asian market. According to Santiment data, VELO's trading volume has surged to $95.95 million, a noteworthy figure for a token outside the top 100. This surge in volume reflects growing interest and confidence in VELO, attributed to its integration with leading blockchain platforms such as Solana (SOL) and Binance Smart Chain. VELO has demonstrated significant progress, with a 57% increase over the past seven days and an impressive 225.51% surge over the last 30 days. Despite recent market fluctuations, VELO has maintained a bullish trend, recording a 16.88% rise from a 24-hour low. Santiment's Weighted Sentiment metric indicates a bullish outlook for VELO compared to XRP, further bolstering investor confidence in VELO's potential. Contributing factors to VELO's successSeveral factors have contributed to the unprecedented surge in VELO's value. Notably, VELO tokens are stored in reputable self-custody wallets such as Ledger, Lobstr, and Freighter, enhancing their popularity among investors. Endorsements from crypto influencers, who have labeled VELO as the "XRP killer," have also amplified investor interest. Additionally, VELO's strategic partnerships with industry leaders like iRemit, Visa and Lightnet have expanded its regional market and validated its capacity to revolutionize cross-border payments and digital financing solutions. As a result, VELO has witnessed substantial growth in trading volume, with its price reaching $0.029 per token. VELO's rise signifies its potential as a catalyst for innovation in the cryptocurrency sphere, akin to XRP. Its unique combination of smart contracts, absent in the XRP blockchain, adds to its appeal for investors seeking efficiency and versatility in financial transactions. Velo Labs' focus on revolutionizing international remittance markets further solidifies VELO's position as a game-changer in the crypto landscape. With the possibility of expanding its popularity beyond Asia, VELO's market cap could experience significant growth, further cementing its presence in the cryptocurrency market.