Marking its 10th anniversary, Coinone’s cumulative trading volume hits $339B

CrossAngle undergoes rebranding, shifting focus to ERP solutionAccording to industry sources on Wednesday (KST), CrossAngle, the operator of digital asset data research platform Xangle, is in the process of rebranding. The company recently changed its name to Xangle, and the research platform’s name will be changed to Xangle Portal. Its Web3 enterprise resource planning solution formerly known as Xangle Beacon will also be renamed Xangle ERP.Photo by Glenn Carstens-Peters on UnsplashService transitionPreviously, Xangle’s main services involved evaluation and disclosure for crypto-related projects. However, in the first half of this year, these services were suspended due to uncertainty surrounding crypto regulations, and the company started shifting its focus to data research. It had also announced plans to launch a business-to-business (B2B) solution for companies that are looking for crypto asset accounting services.Now, Xangle is gearing up to establish Xangle ERP — scheduled for release at the beginning of next year — as its main service. This solution is targeted toward Web3 enterprises and uses on-chain data to provide accounting services, manage tokenomics systems and evaluate the performance of blockchain projects. The firm announced on Monday that it would host a closed beta test for companies that signed up for pre-registration.Strategic allianceXangle also recently formed a partnership with Samjong KPMG, the South Korean branch of accounting giant KPMG, to jointly research how on-chain data can be used for accounting in the crypto sector. This is a crucial opportunity in the development process for Xangle ERP, as Xangle will be able to ascertain the various real-world problems that Web3 businesses face.“Xangle has been focusing on building infrastructure that can process on-chain data and conducting research to understand it. Through our partnership with Samjong KPMG, we will be able to expand our knowledge and expertise on accounting and taxes,” said Lee Hyun-woo, Co-CEO of Xangle.

It’s proving to be a significant week for the further development of stablecoins in the United Arab Emirates (UAE) with leading U.S. dollar-backed stablecoin issuer Circle achieving in-principle licensing approval in Abu Dhabi, while a group of Abu Dhabi-based institutions have announced plans to launch a UAE dirham-pegged stablecoin.Photo by Yan Ma on UnsplashRegulatory licensingIn a press release published on April 29 Circle outlined that it had received in-principle approval to operate as a money services provider from the Financial Services Regulatory Authority (FSRA), the regulator for projects operating out of the Abu Dhabi Global Market (ADGM). ADGM is a free zone located within the UAE capital that has established its own regulatory framework for virtual asset-based businesses. The in-principle licensing award puts the company on a firm path towards the acquisition of a full Financial Services Permission (FSP) license. Circle Co-Founder Jeremy Allaire said that this in-principle licensing “advances our strategy to establish deep roots in markets embracing the onchain economy, creating new pathways for investment and innovation in the region.” On X, Ian Ballina, founder and CEO of Token Metrics, said that the licensing milestone signaled more global momentum for crypto adoption. Ballina pointed out that Circle’s USDC stablecoin is gaining traction as a result of the company’s strategy of partnering with local tech innovators. In addition, Circle announced a collaboration with Hub71, an Abu Dhabi-based global tech ecosystem. The objective of the partnership is to strengthen innovation within the digital assets space, with Circle joining Hub71’s digital assets ecosystem to offer expertise to a community of more than 500 tech startups and venture capital firms. Dirham stablecoin launchIn a separate development, ADQ, an Abu Dhabi-headquartered sovereign wealth fund, announced that it had joined with local partners to launch a UAE dirham-pegged stablecoin.  In its efforts to launch the stablecoin, ADQ has partnered with First Abu Dhabi Bank (FAB), the UAE’s largest bank, and conglomerate International Holding Company (IHC). The trio envisage that the stablecoin will be regulated by the UAE’s central bank and will be used “by citizens and consumers, businesses and institutions.” Once regulatory approval has been granted, the stablecoin will be hosted on the ADI blockchain, a network which was established by the Abu Dhabi-based non-profit ADI Foundation. ADQ CEO H.E. Mohamed Hassan Alsuwaidi described the launch of the stablecoin as “a pivotal step in our commitment to strengthening the UAE’s digital infrastructure ecosystem.” He added that the stablecoin will provide a secure, efficient and scalable solution for market participants as the UAE progresses towards an increasingly digital and connected economy. FAB CEO Hana Al Rostamani suggested that the new stablecoin would make a significant impact, with the potential to “revolutionize the use of trusted blockchain payments for UAE consumers and businesses.” Last December, the FSRA approved leading U.S. dollar stablecoin Tether (USDT) as an accepted virtual asset (AVA). Some weeks prior to that approval, Tether outlined that it planned to launch a dirham-backed stablecoin in collaboration with local partners. In October the country’s central bank issued in-principle approval to the promoters of another dirham-backed stablecoin, AE Coin.

The Hong Kong Securities and Futures Commission (SFC) has unveiled a new roadmap for digital asset regulation titled “ASPIRe.” The authorities in the Chinese autonomous territory have been working towards crypto hub status in recent years. This latest ASPIRe roadmap initiative has been formulated in an effort to future-proof Hong Kong’s status as a location that has been optimized for crypto businesses to form and develop. The ASPIRe roadmap was announced by the SFC on Feb. 19 with comprehensive details on the plan published to the regulator’s website. Photo by Skull Kat on UnsplashFive pillarsA-S-P-I-Re details five pillars that the regulator is focusing on in order to address challenges to strengthen Hong Kong’s crypto hub status going forward. The “A” pillar refers to “access,” with a focus on fostering an ecosystem that’s aligned with a regulatory regime that enables global participation. The regulator wants to attract “qualified participants,” while enhancing investor choice and integrating Hong Kong’s digital assets sector with global liquidity. The “S” pillar stands for “safeguards” with the objective of adopting risk-proportionate oversight, promoting regulatory clarity and aligning compliance requirements such that a balance is struck between core regulatory objectives and providing flexibility for the adoption of new technology. “Products” forms another pillar, with a focus on expanding the range of digital asset products and services offered by regulated service providers in Hong Kong. “Infrastructure” is another aspect that the plan homes in on. The focus in this regard is on modernizing reporting, surveillance and cross-agency collaboration through infrastructure building and the use of new technology.  The final pillar, “relationships” (Re), focuses on the empowerment of both investors and the industry in general through education, engagement and transparency. Influencing modern financeThe Hong Kong regulator is putting forward this plan with the understanding that the global virtual asset market was valued at $3 trillion in 2024. It suggests that the sector “has significantly influenced modern finance.” At Consensus Hong Kong 2025 this week, a crypto conference held in the Chinese autonomous territory, SFC CEO Julia Leung suggested that this plan will put Hong Kong in a strong position to secure its role as a crypto industry hub going forward. Hong Kong Financial Secretary Paul Chan Mo-po also delivered a keynote speech at the conference. He said that Hong Kong would “remain a stable, open and vibrant market for digital assets,” adding that Hong Kong is “investing heavily in the related infrastructure and talent development.” Mo-po went on to assert that Hong Kong’s Cyberport Web3 network and the Hong Kong Science and Technology Park are “vibrant hubs for Web3 innovation and fintech.” He also claimed that industry partnerships and the city’s universities are bringing through blockchain expertise.  The Financial Secretary understands the importance of appropriate regulation. He stated: “The key to success lies in maintaining an open, fair, balanced and forward-looking regulatory approach that is conducive to the sustainable and responsible development of financial innovation, including Web3.”