Klaytn Foundation and Finschia Foundation to jointly launch largest blockchain network in Asia

Crypto Travel Rule solutions provider CODE obtains ISO 37301 certificationCODE, a Travel Rule solutions provider and joint venture co-founded by Korean cryptocurrency exchanges Bithumb, Coinone and Korbit, announced on Wednesday (local time) that it has obtained the ISO 37301 certification for compliance management systems (CMS) from the Korea Compliance Initiative (KCI).Photo by Héctor J. Rivas on UnsplashBoosting complianceISO 37301 is an international standard that outlines the requirements and guidelines for an organization in establishing, developing, implementing, evaluating, maintaining and improving a CMS. It provides a framework for organizations to ensure that they are following all relevant and applicable laws, regulations, codes of conduct and more to exercise good governance, transparency and accountability.CODE has taken the initiative to bolster its CMS to provide more secure and reliable Travel Rule solutions by analyzing and managing compliance risks. The firm’s CEO Lee Sung-mi is responsible for overseeing these efforts as the recently appointed head of compliance. Through these measures, the company explained that it has been capable of building a system to comply with strict international standards.The Travel Rule under the Financial Action Task Force’s (FATF) Recommendation #16 outlines that virtual asset service providers (VASPs) must share certain personal information about customers — including names and account numbers — when facilitating crypto transactions that exceed a certain amount.CODE is also running mandatory training sessions and various programs for all employees to ensure adherence to compliance requirements. In particular, the firm operates a system to monitor Travel Rule compliance risks that may arise during cryptocurrency deposits and withdrawals.“Beyond establishing a robust compliance management culture as a Travel Rule solution provider, we will continue to work with our corporate members to ensure that this culture can be more widely adopted across the crypto industry,” said Lee Sung-mi.Contributing to anti-money launderingCODE has also recently teamed up with global blockchain analytics and crypto compliance solutions provider Elliptic to help Korean VASPs adapt to the evolving international regulatory landscape for anti-money laundering (AML) and the crypto Travel Rule.

Ground X Teams Up with Oasys for Digital Wallet and SDK CollaborationGround X, the blockchain subsidiary of South Korean conglomerate Kakao, announced on Wednesday that it has entered a strategic partnership with Oasys, a Japanese blockchain gaming platform.Through this partnership, Ground X and Oasys aim to collaborate on multiple fronts and onboard each other’s respective Web3 ecosystems. Ground X said that it will participate as a partner company in Oasys’ Web3 ecosystem, collaborating with other Japanese blockchain and gaming firms.Photo by GuerrillaBuzz on UnsplashSDK sharingIn particular, Ground X also plans to provide a software development kit (SDK) that will enable game developers around the world to embed digital asset wallets into their services by leveraging the convenience and technical capabilities of Kakao’s digital wallet, Klip.“By providing the embedded SDK through this partnership, this will serve as an opportunity for Ground X to expand globally by attracting more Klip users,” said Kim Tae-geun, Head of the Business Group Division at Ground X.Dominic Jang, Head of Business Development at Oasys, expressed similar sentiments, stating, “This Klip wallet SDK will allow Oasys’ partners in the gaming industry to operate more smoothly, serving as valuable infrastructure.”NFT allianceOasys will also become a member of GRID — Ground X’s alliance of over 130 local companies aimed at popularizing and fostering non-fungible token (NFT) usage in Korea. Ground X will subsequently share with Oasys the expertise it has gained through success stories of various NFTs on Klip. Through a combination of all these efforts, the company’s goal is to expand the local NFT business ecosystem and increase opportunities for networking and joint marketing between Korean and Japanese companies.“Ground X is at the forefront of Kakao’s blockchain business and has accumulated a wealth of expertise in the blockchain field. Through our collaboration with them, the Oasys ecosystem gains a strong partner,” Jang emphasized.In addition, Ground X is participating as a partner company and panel judge in a blockchain hackathon organized by Oasys and XPLA.

While global cryptocurrency sentiment remains subdued, authorities and state-linked investors in Abu Dhabi are deepening their engagement with digital assets through expanded regulation and increased capital allocation. On Dec. 8, stablecoin issuer Tether and cryptocurrency exchange Binance announced they had secured regulatory approvals from the Abu Dhabi Global Market (ADGM), the international financial center and free economic zone in the UAE capital. The moves signal a continued effort by the United Arab Emirates to integrate blockchain technology into its formal financial system, creating a contrast with the broader market’s current “extreme fear” rating of 22 on the Alternative Fear and Greed Index.Photo by DrawKit Illustrations on UnsplashTether, Ripple stablecoins approvedTether confirmed that its USDT stablecoin has been designated as an Accepted Fiat-Referenced Token within the ADGM. This status allows financial entities licensed by the Financial Services Regulatory Authority (FSRA) to conduct regulated activities involving USDT across a broader range of blockchain networks, including Aptos, Celo, Cosmos, Kaia, Near, Polkadot, Tezos, TON, and TRON. The approval builds on previous authorizations for USDT on Ethereum, Solana, and Avalanche, and follows the FSRA’s recognition of Ripple’s RLUSD stablecoin last month. Binance fully cleared for regulated launch Simultaneously, Binance announced it has secured full authorization from the FSRA to operate a regulated platform within the financial center. Pending final operational preparations, Binance is scheduled to commence regulated activities on Jan. 5, 2026. The exchange will operate in Abu Dhabi through a three-entity structure that separates key functions, mirroring traditional financial infrastructure. Nest Exchange Limited (currently Nest Services) will function as the regulated arm for spot and derivatives trading, while Nest Clearing and Custody Limited will manage clearing and settlement. Broker-dealer activities will be handled by a third entity, Nest Trading Limited (currently BCI Limited). Circle awarded FSP for paymentsMore recently, Circle, the issuer of the USDC stablecoin, announced the receipt of a Financial Services Permission (FSP) license from the FSRA. The license allows Circle to act as a Money Services Provider within Abu Dhabi’s International Financial Centre (IFC), enabling it to support regulated payment and settlement services for businesses, developers, and financial institutions across the UAE. Circle has been expanding its regulatory presence in the region throughout the year. In February, the Dubai International Financial Centre (DIFC) recognized the company’s USDC and EURC tokens as permitted crypto assets under its virtual asset framework. This regulatory expansion comes amid the UAE’s efforts to develop a comprehensive financial compliance framework. A recent report by the Global Finance & Technology Network identified the UAE as one of seven jurisdictions globally that meet three core standards for anti-money laundering and counter-terrorist financing compliance. Those standards include know-your-customer (KYC) and identity verification, suspicious transaction reporting, and implementation of the Financial Action Task Force (FATF) Travel Rule. Institutional capital inflows riseIn parallel with the regulatory push, investment vehicles linked to the Abu Dhabi government have increased their exposure to digital assets. Bloomberg reported that in the third quarter, the Abu Dhabi Investment Council, a Mubadala subsidiary, increased its position in BlackRock’s iShares Bitcoin Trust ETF more than threefold to nearly eight million shares. Separately, the Royal Group, an investment firm associated with the Abu Dhabi royal family, currently holds roughly 6,516 Bitcoin, according to Arkham data. An earlier Crypto Briefing report noted that this acquisition was carried out through its majority-owned subsidiary, Citadel Mining. These simultaneous developments in licensing and capital allocation suggest a coordinated strategy to establish Abu Dhabi as a hub for institutional digital assets, with a focus on long-term infrastructure despite current market fragility.