Startale snags additional seed funding from Samsung and UOB

Laser Digital Expands Global Presence with New Tokyo OfficeLaser Digital Asset Management, the digital asset subsidiary of Japanese financial giant Nomura, is taking significant steps in its global expansion strategy by opening a new office in Tokyo, Japan. That’s according to a statement published by the firm on Monday.Photo by Jaison Lin on UnsplashNomura executive appointmentTo lead this strategic move, Hideaki Kudo, a seasoned professional with a distinguished career at Nomura, has been appointed as the Representative Director and Head of Laser Digital’s Japanese operations.Kudo’s impressive journey within the Nomura Group began in 2007 when he joined Nomura Asset Management, where he later held the position of Senior Portfolio Manager. Over the years, he played a pivotal role in contributing to the group’s success. His expertise caught the attention of Nomura’s Digital Company, where he served as an Executive Director, responsible for shaping the group’s digital asset strategy. Kudo’s track record includes spearheading essential projects such as the development of security tokens and orchestrating Japan’s first-ever real estate security token offering.Commenting on his new role at Laser Digital, Kudo expressed his excitement, stating:“It’s exciting to join Laser as they expand operations to Japan. Since 2019, I have been managing Nomura’s advancements into the digital asset space, and I am delighted to now join the Laser team on their journey.”Earlier this year the firm strengthened its venture capital arm through the appointment of industry veteran Florent Jouanneau as a new partner.Zurich-headquartered Laser Digital, launched by Nomura last autumn, is led by Co-Founders Steven Ashley and Jez Mohideen. Ashley, a former leader of Nomura’s wholesale division, emphasized the importance of having 24/7 operational management to optimize support for their trading business.Setting their sights on Japan for expansion into the Far East, Kudo’s extensive experience at the Digital Company is expected to be invaluable for Laser Digital’s development and growth. Laser Digital uniquely combines the discipline and capabilities of global investment banking with the expertise of a crypto-native team.Broader expansion strategyLaser Digital’s expansion into Japan aligns with a broader trend of crypto companies seeking growth opportunities in Asia, as noted by Laser Digital CEO Jez Mohideen. In a recent interview, Mohideen expressed optimism about the crypto ecosystems in Japan and Hong Kong, highlighting the potential for significant growth in the region.He also emphasized the importance of regulatory clarity in Asia and the Middle East, suggesting that these factors would play a pivotal role in driving crypto adoption. In August, Laser Digital secured a crypto license from Dubai’s virtual asset regulatory authority, enabling the provision of virtual asset broker-dealer and investment services from its Dubai entity. Last month the company received in-principle approval from the Abu Dhabi Global Market (ADGM), further solidifying its presence in the Middle East.As Laser Digital continues to expand its global footprint, the appointment of Hideaki Kudo and the establishment of a new office in Tokyo mark significant milestones in the company’s journey to provide comprehensive digital asset solutions to clients worldwide. With Kudo’s leadership and Nomura’s backing, Laser Digital is attempting to position itself for further success in the burgeoning crypto industry.

Dunamu Pushes for Biodiversity Conservation Through NFT ProjectDunamu, the fintech company operating South Korea’s leading crypto exchange Upbit, said Monday that it signed a memorandum of understanding (MOU) with the Korea Arboreta and Gardens Institute (KoAGI) and the Korea Green Foundation (KFG) to drive a non-fungible token (NFT) biodiversity project over the course of three years. This comes as part of efforts to ramp up biodiversity conservation efforts.Photo by Eelco Böhtlingk on UnsplashThe MOU was signed at Dunamu’s headquarters in Gangnam, southern Seoul, with Dunamu CEO Lee Sirgoo, Director Ryu Kwang-soo of the KoAGI, and Lee Mi-kyung, Head of the KFG, in attendance.“This partnership serves as a starting point for Dunamu to actively utilize our technology to conserve biological resources — especially trees — and collaborate with various communities,” said Lee Sirgoo, CEO of Dunamu.Conservation meets NFTsThe project will involve creating NFTs from images of plant seeds stored in the Seed Vault — a conservation facility managed by KoAGI — which will then be issued through Upbit NFT, the exchange’s NFT trading platform. Owners of these NFTs will have the opportunity to engage in various events such as quizzes, Dunamu said, thereby promoting biodiversity conservation and fostering awareness about the importance of forests.Additionally, certain plant species that have been issued as NFTs will be selected to be placed in plant conservation facilities built in collaboration with botanical gardens located near the plants’ natural habitats.“Given the irreplaceability of both NFTs and flora and fauna, we will continue to do our utmost to fulfill our environmental responsibilities,” CEO Lee emphasized.The involved parties are also looking to establish an online community where they could directly gather the NFT owners’ opinions through methods such as polling to help plan for more upcoming projects. This integration of online projects with offline conservation activities is expected to contribute to local development and biodiversity.Boosting ESG effortsAs a key part of its ESG strategy, Dunamu has been focusing on trees while leading efforts for environmental protection and forest restoration. Earlier this year, the company teamed up with KoAGI to issue NFTs and contributed its entire sum of sales proceeds and transaction fees of around KRW 20 million (approximately $14,800) to establish an endangered plant protection fund.The company also held a campaign back in March with the Korea Forest Service and the Korea Forest Welfare Institute called “2nd foRest,” dedicated to restoring forests affected by fires. For every virtual tree planted in Dunamu’s metaverse, 2ndblock, two real trees were planted.The following month, Dunamu donated KRW 500 million in aid for the recovery of areas hit by the large-scale forest fires in Gangneung, Gangwon Province. The company also established virtual reality healing gardens at the Geumcheon Fire Station and Seoul Rehabilitation Hospital.

Russians will continue to have access to crypto markets despite the application of sanctions, according to a senior Russian official. Impossible to completely block marketThat’s the view of Anton Gorelkin, the deputy head of the State Duma committee on information policy. In a report published by Russian state-owned news agency TASS on March 6, Gorelkin is quoted as stating: "It should be recognized that it is impossible to completely block this market for Russia." Gorelkin added that crypto remains one of the mechanisms through which international sanctions being applied to Russia can be circumvented. Russian firms have increasingly been using Bitcoin and crypto in international trade to circumvent sanctions. The Russian official’s comments come as Russian crypto exchange Garantex has been forced to suspend its services. Last month, the Council of the European Union (EU) had added the exchange to its latest Russian sanctions package. This was part of the EU’s sixteenth sanctions package against Russia since the conflict in Ukraine began. It’s the first time that a crypto exchange has been included within any such sanctions. The EU did so on the assertion that Garantex is “closely associated with EU-sanctioned Russian banks.” Photo by Michael Parulava on UnsplashTether ‘enters war’ against Russian crypto marketThe crypto exchange took the decision to suspend its services following an action taken by leading stablecoin issuer, Tether. Taking to Telegram, the exchange stated: “We have bad news, Tether has entered the war against the Russian crypto market and blocked our wallets worth more than 2.5 billion rubles [$27 million].” The exchange took the opportunity to warn its users that “all USDT in Russian wallets is currently under threat.” Garantex added that it has been the first to be hit with such a measure, but that it won’t be the last. The firm said that it “will fight, and [it] will not give up.”  Tether has been under the spotlight of regulators and governments globally in recent years. In response, it appears to have incorporated the freezing of funds subject to sanctions more recently, with closer cooperation with law enforcement and government agencies. Last year, the company outlined that it planned to freeze funds held in addresses related to countries or companies subject to sanctions. Last September, Tether claimed to have played a role in an operation carried out by the Dutch authorities and U.S. Secret Service that led to the takedown of two crypto exchanges, Cryptex and PM2BTC, who were alleged to have been involved in money laundering. Garantex had already been subject to U.S. sanctions since April 2022. At the time, the U.S. authorities described the exchange as a "ransomware-enabling virtual currency exchange." The firm was originally established in Estonia in 2019. Commenting on the development, Gorelkin stated:  "To the investors who underestimated this risk, my condolences."  He also asserted that the latest round of sanctions will not be the last in attempts to apply pressure on Russian cryptocurrency firms and crypto sector infrastructure within Russia. While he believes that crypto remains a tool to get around sanctions, he stated that “USDT can be safely deleted from this list.”