Blockchain security firm Verichains joins as newest Node Council Partner on WEMIX3.0

Wemade joins hands with Dubai Chambers to expand Web3 and gaming endeavors in Middle EastSouth Korean blockchain gaming publisher Wemade has partnered with the Dubai Chambers to support each other’s objectives for making advancements in the Web3 and gaming sphere.Photo by Kent Tupas on UnsplashTheir commitments were exchanged when Wemade CEO Henry Chang met with Mohammad Ali Rashed Lootah, the President and CEO of the Dubai Chambers, during his trip to the United Arab Emirates this week for this year’s Abu Dhabi Finance Week and the Fortune Global Forum, according to industry sources on Tuesday (KST).The Dubai Chambers of the UAE is a non-profit public agency that plays a central role in creating an environment for businesses in Dubai to thrive, thus bolstering the business landscape. It is divided into three sectors — commerce, international and digital economy.A strategic allianceDuring the meeting, the Dubai Chambers pledged to support Wemade’s business expansion in the Middle East region by helping the company establish networks with local organizations and companies. It also vowed to facilitate active exchange between Wemade and the Dubai Chambers’ overseas offices in 27 countries. In turn, Wemade stated that it would strengthen its local business capabilities to contribute to the growth of Dubai’s gaming and Web3 industries.“Dubai is one of the most dynamic regions leading the next-generation gaming industry, and the role of the Dubai Chambers is crucial. Wemade will actively support Dubai’s gaming industry initiatives with the experience and technical expertise that we have accumulated over the years,” Chang said. Lootah also expressed his anticipation for the partnership, reaffirming Dubai’s commitment to fostering a tech-savvy ecosystem.Earlier this month, Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, the Crown Prince of Dubai, announced a new vision to grow Dubai into one of the top ten cities for gaming in the world by creating 30,000 new jobs and increasing GDP by $1 billion by 2033.Strengthening tiesChang and Lootah’s meeting is the latest development in the budding business relationship between Wemade and the UAE. Previously, a delegation from the Dubai Chambers visited South Korea in September, during which it visited Wemade’s headquarters. Wemade also opened an office in Abu Dhabi earlier this year.

Korean Blockchain Game Publisher Joins UNGC to Bolster ESG ManagementWemade, a Korean blockchain game publisher, joined the United Nations Global Compact (UNGC) to bolster its environmental, social, and governance (ESG) management. The company announced its membership through a press release issued on Wednesday.Photo by Noah Buscher on UnsplashUNGC membershipSince its establishment in 2000, the UNGC has evolved into the largest corporate sustainability initiative worldwide. With a membership base of over 20,000 companies spanning across 162 countries, it serves as a platform for organizations to align their operations with ten principles encompassing human rights, labor, environment, and anti-corruption.Annual reportsUnder the guidelines of the UNGC, Wemade will fulfill its commitment by submitting an annual report called the Communication on Progress (COP). The company’s objective is not only to meet sustainable development goals but also to enhance its ESG management. Along with these endeavors, the company will strive to improve its corporate citizenship.ESG managementIn expressing his thoughts on the matter, Wemade CEO Chang Hyun-guk emphasized that the company’s inclusion in the UNGC would serve as a catalyst for driving sustainable growth through ESG management. He underscored its commitment to fulfilling corporate social responsibility and meeting global standards by practicing ESG management, given its position as a leading entity in the blockchain market.Wemade’s three main objectivesMeanwhile, Wemade is practicing ESG management centered on three main objectives: responsible environmental management, inclusive growth for future generations, and transparent governance.

KITC Cooperates with Buysell Standards to Develop Security Token Products in KoreaKorea Investment and Securities Co. (KITC), a leading securities company in South Korea, has partnered with Buysell Standards, the operator of the fractional investment platform PIECE, to jointly develop security token services.Photo by Tierra Mallorca on UnsplashNon-traditional securitiesAccording to a report from local news outlet News1, the two entities have agreed to collaborate comprehensively on security token products. This includes offering non-traditional securities such as investment contracts and non-monetary trust contracts, establishing infrastructure for launching investment products on token issuance platforms, and setting up processes for trust agreements.Buysell Standards has been expanding its range of fractional investment products from art and luxury goods to ships. The company has successfully completed various blockchain-related projects, including the development of its own blockchain mainnet for security token issuance.KITC’s security token effortsIn March, KITC established ST Friends, an alliance established in cooperation with Internet-only banks Kakao Bank and Toss Bank. The alliance has been actively working towards commercializing security tokens by signing business agreements with fractional investment firms like content investment platform Funderful and proptech platform Valuemap Corp. Proptech, the abbreviation of property technology, refers to the use of information technology to facilitate real estate buying, selling, and management.KITC believes that the partnership with Buysell Standards will accelerate the process of providing innovative financial products. Choi Seo-ryong, the head of the platform division at KITC, expressed excitement about collaborating with Buysell Standards, renowned for its expertise in digitizing real-world assets (RWAs). Choi emphasized KITC’s commitment to converting various content that we encounter in our daily lives into security tokens.Last month, KITC inked a memorandum of understanding (MOU) with Open Asset, a blockchain fintech company based in Seoul, to develop a distributed ledger system for ST Friends.Similarly, Buysell Standards has also been proactive in forming partnerships for security token projects. In February and April, the fractional investment platform operator entered into collaborations with Shinhan Securities and KB Securities, respectively.