Bithumb’s Burrito Wallet holds Partners Day 2024

AIITONE Partners with FIDES Development for Real Estate TokenizationAIITONE, a South Korean blockchain-based fintech company, has announced a partnership with FIDES Development, a real estate developer, to enhance their collaboration in the security token sector, as reported by local outlet Hankook Economy TV.FIDES Development has been undertaking various initiatives within the real estate sector, including the identification of underlying assets for security tokens, the development of virtual reality-based show houses, and the implementation of artificial intelligence-powered property technology. In order to support FIDES in these endeavors, AIITONE will provide its advanced fintech services.Photo by Jiho Choi on UnsplashReal estate tokenizationThe objective of the collaboration between the two companies is the tokenization of real estate properties. FIDES Development has developed a wide range of projects, including apartments, offices, and multi-purpose complexes. One of their current projects is a 39-floor accommodation building in Gangwon Province.Legalizing security tokensGiven the accelerating legislative process associated with legalizing security tokens in the National Assembly, construction and development companies are increasingly interested in the fractional investment industry.Both AIITONE and FIDES Development expressed their excitement about this partnership, as they believe it will enable them to identify valuable real estate assets and tokenize them, thus creating innovative and secure investment opportunities.Notably, Kim Seung-bae, CEO of FIDES Development, is also the chairperson of the Korea Developer Association (KODA), which has trained around 18,000 professionals in the field. KODA serves as a legal organization representing South Korea’s real estate development industry.Similar developments in JapanMeanwhile, similar developments have been observed in Korea’s neighboring country, Japan. In May, Mitsui & Co. Digital Asset Management introduced Alterna, a security token platform with a primary focus on real estate. Alterna has democratized investment opportunities that were previously inaccessible, enabling individuals to invest with a minimum of 100,000 yen. The platform garnered substantial interest from Japanese investors, amassing over 10,000 pre-registrants ahead of its official launch.

RIGO, a public blockchain catered to private blockchain-based digital assets, is ringing in the new year with a joint airdrop event with BYFFIN, a South Korean private blockchain-based digital asset management service, according to an official announcement on RIGO’s website. Photo by GuerrillaBuzz on Unsplash"This RIGO X BYFFIN airdrop event with BYFFIN is designed to provide an easy and convenient experience for many users to use RIGO tokens," RIGO said. "We will strive to provide various experiences and benefits to users who participate in the RIGO blockchain ecosystem." Event detailsFive RIGO tokens will be airdropped to each of the first 3,000 participants on a first-come, first-served basis until Jan. 23 (KST). Participants are required to download the mobile BYFFIN Wallet app and create a personal wallet to be eligible to receive the rewards. This is the first promotional event held by RIGO and BYFFIN, and the two organizations plan to further expand their collaborative ventures in the future. RIGO’s wide-ranging servicesRIGO offers a variety of services, including RIGO Core, which provides custodial services of digital assets and manages data storage; RIGO Bridge, which supports hyperledger-based private blockchains; and RIGO Scan, a public real-time blockchain status dashboard.

Abu Dhabi Global Market (ADGM), an international finance center and free zone, and Solana Foundation have forged a collaboration aimed at advancing the development of blockchain ecosystems. Nurturing DLT innovationThe primary objective of this partnership, which was announced earlier this week, is to enhance Distributed Ledger Technology (DLT) solutions and propel innovation within the blockchain sphere. Hamad Al Mazrouei, CEO of ADGM Registration Authority, expressed enthusiasm about the collaboration, stating:"We are excited to partner with Solana to pioneer the future of technology, and further enhance the level of knowledge in the space of blockchain by emphasizing the value of regulation and compliance in ensuring robust and sustainable development." Lily Liu, president of the Solana Foundation, shared her optimism about the partnership on the X social media platform, stating:“I spent the day with the @ADGlobalMarket leadership, and have come away with great optimism about their progressive, consultative approach to regulation.”Photo by Shubham's Web3 on UnsplashEmerging crypto hubAbu Dhabi is swiftly emerging as a prominent hub for crypto and blockchain ventures, attracting top firms globally due to its strategic location and supportive government policies. The ADGM has approved a raft of licenses for leading digital asset sector firms. New York-headquartered blockchain and tokenization infrastructure platform Paxos secured an in-principle license back in November. That same month, retail and social trading platform eToro and virtual asset firm M2 both secured trading licenses from ADGM. In September, Standard Chartered-backed digital asset marketplace Zodia Markets secured in-principle approval.Framework for DAOs and foundationsAbu Dhabi Global Market has created an enabling environment for such partnerships to flourish. The emirate has recently launched a $2 billion initiative dedicated to fostering startups in the Web3 and blockchain technology sectors, underscoring its commitment to nurturing the growth of the crypto and blockchain industry. Last year, ADGM introduced regulations to streamline the establishment of blockchain startups in its international free trade zone, aiming to attract investments and enhance market competitiveness and efficiency. In particular, it rolled out a framework for the establishment of decentralized autonomous organizations (DAOs) and blockchain foundations. To establish a distributed ledger technology (DLT) foundation, founders are required to submit a signed Charter to the Registrar, affirming compliance with all relevant laws and financial obligations. Notably, ADGM's regulatory framework for DLT foundations has already yielded significant results, with the recent announcement of the Berlin-based IOTA Foundation unveiling a $100 million foundation in Abu Dhabi. This latest Solana Foundation collaboration is further evidence of the fruits of that framework. In addition to regulatory advancements, Abu Dhabi Global Market introduced a virtual platform in 2022 to connect individuals with virtual asset firms, consolidating its status as a crypto hub. This initiative has attracted several crypto firms to the UAE, drawn by the region's plans to establish itself as a leading crypto hub. Dubai, Abu Dhabi's neighboring emirate, has also witnessed a surge in crypto firms, buoyed by the proactive approach of Dubai’s Virtual Asset Regulatory Authority, which serves as a global model for regulator-industry collaboration.