Pre-registration for MMORPG Night Crows opens

Milk Partners Launches Blockchain-Powered Reward Points System in IndonesiaSouth Korean tech company Milk Partners, which operates blockchain-powered reward points platform MiL.k, has announced the official launch of its services in Indonesia, according to a report by local news outlet Etoday. MiL.k simplifies the process of handling and exchanging reward points from multiple companies by offering an integrated platform for users.Photo by Dino Januarsa on UnsplashLocal readinessIn order to provide stable local service, MiL.k has registered as an electronic system organizer (ESO) in Indonesia. Moreover, the platform has implemented a passport and identification card verification system to meet know-your-customer (KYC) requirements.As of today, Indonesian users can download the MiL.k app from the App Store and Google Play. Within this month, they will be able to utilize their reward points from two local companies: GetPlus, a loyalty point integration service, and Indonesia AirAsia, a budget airline.Southeast AsiaTo expand its reach and promote the platform further, Milk Partners has plans to collaborate with local partners on a range of promotional events. Additionally, the company aims to boost its marketing efforts in Southeast Asia, encouraging more businesses and projects to join the MiL.k platform.Cho Jung-min, CEO of Milk Partners, shared his excitement about the official launch of MiL.k in Indonesia, which is a significant step in the company’s global expansion plan. He stressed the commitment to providing reasonable and tangible services and asked for customers’ interest and support in this endeavor.Recent token listingIn line with this development is last month’s listing of the trading pair of MLK/IDR on Indodax, an Indonesian cryptocurrency exchange. MLK stands for Milk Coin, a key currency that can be exchanged for reward points on the MiL.k platform.

DigiFT, a Singapore-based regulated exchange for real-world assets (RWAs), has brought its latest product offering to the digital asset market by introducing its U.S. Treasury bill depository receipt (DR) tokens. These tokens offer investors fractional ownership in U.S. Treasury bills, providing an avenue to engage with the traditionally secure U.S. debt market without requiring significant upfront capital, as detailed in a press release issued by the company on Monday.Photo by Karolina Grabowska on PexelsDemocratizing market accessThe conventional route to investing in U.S. Treasury bills typically demands substantial financial resources. DigiFT's DR tokens aim to democratize access to this market by enabling investors to purchase fractional shares of these bills. Henry Zhang, the founder and CEO of DigiFT, highlighted the innovative nature of the DR structure, noting its capacity to address challenges within the current market and empower investors with direct ownership of assets and returns. Zhang emphasized the company's intent to expand the scope of traditional financial assets in the Web3 space, leveraging the DR model to enhance investor protection and transparency. The DigiFT U.S. Treasury Tokens (DRUST) represent the inaugural offering in a series under the DR structure. These DR tokens, a type of security token, offer fractional ownership of an underlying asset. In the case of DigiFT, these tokens are specifically backed by U.S. Treasury bills, providing investors with exposure to the secure US debt market. Each DRUST token is directly backed by AA+ rated, highly liquid and short-term U.S. Treasury Bills, offering stability and tailor-made solutions for stablecoin issuers and Web3 product developers seeking regulatory-compliant treasury and cash management options. Pursuing regulatory complianceIn its latest announcement DigiFT has outlined its intention to pursue regulatory compliance, a facet intended to instill confidence and assurance among investors. Having been established in 2021 and previously operating within the Monetary Authority of Singapore's (MAS) FinTech Regulatory Sandbox, DigiFT obtained a Capital Markets Services (CMS) license and was acknowledged as a Recognised Market Operator (RMO) in December 2023. By adhering to regulations, DigiFT aims to simplify the investment process and broaden accessibility for investors. DigiFT highlights that institutional and accredited investors can access DRUST tokens from authorized self-custodial wallets using fiat currency or stablecoins, providing flexibility and convenience. Growing popularityThe growing popularity of tokenized funds, particularly those tied to U.S. treasuries, is evident in recent reports. Moody’s revealed a surge in the value of tokenized funds, driven by the increasing tokenization of U.S. treasuries. Both public and private blockchains are witnessing the inclusion of various assets, reflecting a broader trend toward asset tokenization. Tokenized funds offer numerous benefits, including enhanced liquidity, accessibility, reduced costs, fractionalization, decreased reliance on intermediaries, shortened settlement times, automated processes through smart contracts and improved transparency. Last June, Hong Kong-based cryptocurrency firm Finblox provided details of a tokenized version of U.S. Treasury Bills it has been working on. In November, the Bureau of the Treasury in the Philippines announced the issuance of one-year tokenized bonds to the value of $179 million. Binance Research has identified real-world asset tokenization as a key theme in crypto for 2024, noting its potential to improve transparency and efficiency by bringing off-chain assets onto blockchain networks.

Japanese financial services company SBI Holdings has successfully established "SBI XDC Network APAC" in Japan, following through on an intended joint venture with TradeFinex, the driving force behind the XDC Network.Photo by William Warby on UnsplashJV company formationAt the end of September, the two companies outlined the starting point of an intended collaboration. Only three months later, SBI has come back with an update, a press release published on Dec. 27, to detail the progress that has been made thus far. According to that document, the companies established joint venture corporate entity SBI XDC Network APAC Co. Ltd. on Dec. 18. Among the directors of the new company is the President of BITPoint Japan, a wholly owned subsidiary crypto exchange business of SBI. Majority stakeholderSBI will be the majority stakeholder in the venture, holding 60% of the company’s shares while Dubai-based TradeFinex will be the minor partner, with a 40% shareholding. The press release outlines that the stakeholders will “work to expand the use case using the blockchain technology of the XDC Network in global economic activities centered on trade finance and cross-border payments, not just the handling of tokens.” With that, this enterprise-focused blockchain initiative aims to elevate the efficiency of trade finance. Going forward, it endeavors to broaden the applications of XDC Network's blockchain technology in global economic activities, with the emphasis remaining on trade finance and cross-border payments. The XDC Network, inaugurated in 2017, is a community-driven platform tailored explicitly for trade finance and payments. It introduces a smart contract system that streamlines global trade operations by tokenizing real-world assets (RWAs) such as bonds, trade assets and trade documents. Operating on a high-speed, secure and cost-effective blockchain, XDC Network aspires to transform the landscape of trade finance. SBI Group has been actively involved in various services related to the XDC Network, including being the first exchange in Japan to handle XDC tokens. This was made possible through a partnership with SBI VC Trade, a company within the SBI Group specializing in crypto asset exchange services. Corda platform proof of conceptLogo design has been completed for the new entity, while a website has also been launched. Not wasting any time, the new company has already initiated a proof-of-concept (PoC) experiment. The experiment involves connecting the XDC Network with the Corda platform from SBI R3 Japan and the Corda Bridge from IMPEL GLOBAL. The PoC experiment revolves around conducting fiat payments generated by business-to-business transactions in XDC via Corda and the Corda Bridge. Leveraging a hybrid blockchain with both private and public characteristics, the objective is to attempt to offer a seamless one-stop service that settles both private and public aspects simultaneously. The company claims that this approach achieves an efficient and smooth payment method for cross-border transactions, including international trade, outshining conventional fiat currency transactions.