Wemade joins hands with DIFC to establish WEMIX Play Center in Dubai

Monex Group, a well-known securities broker in Japan’s financial services sector, is delving further into the digital currency space through the acquisition of a majority stake in 3iQ Digital Holdings, a Canadian crypto asset management company. Whilst the acquisition was announced via a joint press release on Thursday, the specific details of the deal were not disclosed.Photo by sebastiaan stam on UnsplashAchieving growth through cryptoYuko Seimei, the CEO of Monex Group, emphasized the long-term strategy of strengthening their asset management business. By incorporating 3iQ into their portfolio, the aim is to achieve substantial growth by catering to the evolving crypto asset management needs of institutional investors and crypto exchanges globally. Monex Group is already a key player in the Japanese crypto landscape, owning the Coincheck exchange. Coincheck is one of the largest cryptocurrency exchanges in Japan. It has regained market dominance after a cyber attack resulting in the theft of $534 million in digital assets in 2018. Monex collaborated with Japanese telecommunications firm NTT DOCOMO in October, forming Monex Securities as a holding company containing Coincheck, while selling NTT DOCOMO a 49% stake. ETF focusThe acquisition of 3iQ marks Monex’s strategic move to extend its exposure to the North American crypto industry. This adds to the conglomerate’s existing presence in the United States through the ownership and operation of TradeStation, an American brokerage firm. 3iQ, operating under a Canadian license, has come to prominence in the crypto-sphere for launching two exchange-traded funds (ETFs) in Canada. Notably, it introduced Bitcoin and Ethereum ETFs on the Toronto Stock Exchange, showcasing innovation in a region where regulatory approval is awaited by U.S.-based companies. Spot bitcoin ETFs have been hotly tipped to offer the next form of crypto adoption, potentially facilitating the in-flow of massive amounts of money currently within the domain of traditional finance. While the focus has been largely on the United States in that regard, other centers such as Hong Kong are similarly gearing up towards offering spot ETF crypto products to both institutions and retail investors. Amid that background, this acquisition by Monex didn’t go unnoticed by ETF sector professionals. Bloomberg Intelligence ETF Research Analyst James Seyffart took to social media platform X on Thursday to draw attention to the deal. Frederick Pye, the Chairman and CEO of 3iQ, expressed enthusiasm about joining forces with Monex Group. With Monex already owning Coincheck, a crypto exchange powerhouse in Japan, Pye highlighted the potential synergy. The collaboration is seen as an opportunity to enhance Coincheck’s offerings, particularly for institutional investors. Pye characterized the partnership as a groundbreaking collaboration that promises to reshape the crypto industry. Monex’s acquisition of 3iQ is aligned with its broader vision of being a key player in the global crypto asset management landscape. The move not only expands their reach into North America but also positions them to capitalize on the growing demands of institutional investors in the evolving digital currency market.

Metalpha Technology Holding Limited, based in Hong Kong, has strategically invested in NextGen Digital Venture Limited, aiming to enhance institutional participation in the digital asset space. This move is part of Metalpha's broader effort to bridge the gap between traditional finance (TradFi) and the crypto sphere.Photo by cottonbro studio on PexelsBuilding on Next Generation FundNews of the collaboration broke via a PR Newswire press release published by Metalpha on Monday. The deal builds upon a previous partnership struck by the two companies in April of last year, which resulted in the creation of Next Generation Fund I. This fund is specifically tailored to leverage Grayscale Investments LLC's suite of products, with Grayscale being one of the world’s largest crypto asset managers. Notably, the fund has demonstrated solid performance, surpassing bitcoin's annualized return by 35%. This success has instilled confidence in Metalpha, fostering optimism for the fund's future achievements. NextGen Digital is a Hong Kong-based investment company that aims to provide cryptocurrency and Web3 exposure to institutional clients in the conventional finance realm. Alongside its previous partnership with Metalpha, the firm has invested directly in Web3 startups such as iZumi Finance, a liquidity-as-a-service DeFi protocol. In announcing the Metalpha investment, NextGen founding partner Jason Huang said that the company “is committed to providing secure, compliant cryptocurrency investment opportunities and is always focused on achieving alpha returns.” The company is leveraging its Hong Kong Type 9 license, while aspiring to deliver secure and compliant cryptocurrency investment opportunities. Adrian Wang, president and director of Metalpha Technology Holding, expressed enthusiasm about the partnership, stating: "The launch of the NextGen fund marks the first step for both parties to jointly develop compliant products with generous returns. We look forward to establishing a more solid partnership in the future.” Wang had previously stated that clients of the Next Generation Fund were overseas Chinese institutions. “Some of them are family offices, some of them are public companies,” he stated. On-boarding TradFi investmentPositioned as a notable platform in Asia, NextGen aims to facilitate traditional finance's seamless entry into the realm of cryptocurrencies. This strategic investment by Metalpha underscores the evolving landscape where traditional financial institutions increasingly embrace the potential of digital assets. Metalpha, recognized as one of Asia's leading providers of crypto derivatives solutions, collaborates closely with traditional financial entities, including family offices and crypto mining firms. Holding both Type 4 and Type 9 licenses from the Securities and Futures Commission (SFC) of Hong Kong, Metalpha is authorized to advise on securities and engage in real estate investment scheme management or securities and futures contracts management. In May of last year, Metalpha secured a $5 million investment from leading crypto mining equipment manufacturer, Bitmain. Metalpha counts hybrid crypto exchange GRVT among its portfolio of investments. In September it emerged that it had invested in ParaX, a Web3 super app developed by Parallel Finance. In February 2023, the Litecoin Foundation partnered with Metalpha in an effort to provide environmentally friendly mining techniques to the Litecoin ecosystem.

Data Labs leverages blockchain technology for data-based travel itinerary appFounded in 2021, Data Labs is changing the landscape of travel by leveraging blockchain and NFT technology to offer a wallet service called “MyInfo Market,” where users can store and control their own data, according to an article published by Korean news outlet Data News.In particular, MyInfo Market can be used in tandem with the company’s travel app Yeohaengdaelo, which utilizes users’ travel-related data to recommend travel destinations and organize and share itineraries. Users can directly manage their personal preference information on MyInfo Market and selectively submit the information necessary to receive rewards. “It’s not just a travel itinerary app, it’s also a way for individuals to earn money using their own data,” said Kim Jong-hyun, CEO of Data Labs.Photo by Eva Darron on UnsplashSeamless travel experienceYeohaengdaelo integrates Naver Blog, Instagram and KakaoTalk services into one app, aimed at relieving the stress that comes with travel preparation, Kim explained. It utilizes data such as the region a user is traveling to, their travel companions and information on facilities, as well as their travel preferences and patterns. The app also provides real-life services such as discounts at designated restaurants near the travel site.Building trust and valueThe company explained that it intends to maintain a cyclical data ecosystem where users can willingly provide their data to get travel recommendations and receive suitable compensation for that information in return. Because the ecosystem is blockchain-based, it provides a safe method of personal information management.Since the launch of Yeohaengdaelo in July, Data Labs has been developing a business model that can secure a solid user base and revenue for affiliated businesses. It expects to reach 55,000 members next year and 2.14 million members by 2028. The company also expects to use the business model as a basis for generating KRW 500 million (approximately $386,000) in revenue next year by linking marketing channels, issuing discount coupons for kids’ amenities and providing data royalties.In the future, Data Labs plans to expand Yeohaengdaelo to include not only travel preparation services but also information on various discounts that users can receive based on the location they are in. Efforts like this will be necessary to provide unique user experiences, the company said.Data Labs is also currently receiving support through Y&Archer’s tourism acceleration program. Y&Archer is a Korean investment and acceleration firm known for its AC Program, which discovers, accelerates and supports startups through various projects.“In the past, companies profited from personal data, but Yeohaengdaelo allows individuals to monetize their data. Our goal is to create a world where individuals can regain the rights (to their own data) and be at the center of Web3 content,” Kim said.