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Over 3,700 participants flock to Upbit D Conference to explore insights in blockchainThe sixth annual Upbit D Conference (UDC), a major blockchain event in South Korea hosted by the country’s biggest cryptocurrency exchange Upbit, commenced on Monday (local time) at the Grand Walkerhill Seoul Hotel. Touting the theme “All That Blockchain,” the conference gathered some 3,700 participants — including 39 blockchain experts from 29 countries — both online and offline.Aimed at contributing to the blockchain ecosystem, UDC has gained acclaim as a non-profit event featuring in-depth lectures by experts from around the globe. While it initially focused on industry and technology alone, the conference has since expanded its scope to cover areas such as policy, finance, business, culture and trends.Photo by Gerd Altmann on PixabayLively guest discussionsHighlights of the event included a session led by Roger Ver, the founder of Bitcoin.com, who discussed the trajectory of the blockchain industry and the current status of Bitcoin. Korean telecommunications giant SK Telecom’s Executive Vice President, Oh Se-hyeon, also shared insights into the prospects of Web3 and blockchain services in Korea.Other speakers included Emily Parker, Executive Director of CoinDesk; Howard Fischer, former Senior Trial Counsel at the US Securities and Exchange Commission (SEC); Nizam Ismail, former Founding Chairman of the Regulatory and Compliance Sub-Commitee at Blockchain Association Singapore; and Kim Kab-lae, Senior Research Fellow at the Korea Capital Market Institute. Together, the four experts discussed country-specific perspectives and current issues regarding the rapidly changing regulatory landscape of the global virtual asset industry.“As blockchain’s influence expands across the economy, culture and society, UDC has evolved into a comprehensive conference capable of encompassing all aspects of blockchain. We hope it serves as a place that sparks positive inspiration and valuable connections,” said Song Chi-hyung, Chairman of Dunamu, the operator of Upbit.Growing recognitionOver the past five years, UDC has seen participation from over 1,190 companies and nearly 19,100 individual attendees. As of this month, the cumulative number of views on the conference’s official YouTube videos has reached 1.12 million. Videos of all of this year’s sessions can be viewed on the UDC YouTube channel and website.

The U.S. Securities and Exchange Commission (SEC) approved the spot bitcoin exchange-traded fund (ETF) last Tuesday, prompting South Korean investors to flock to cryptocurrency exchanges to make transactions. However, the revenues recorded by these exchanges showed a mixed performance in response to this development due to their differing transaction fee policies, according to local news outlet DealSite on Monday.Photo by Maxim Hopman on UnsplashTrading volumes surge and retreatAccording to crypto analytics platform CoinGecko, as of 9 a.m. on Jan. 12 (KST), Upbit's trading volume on Dec. 11 and 12 was approximately $5.1 billion and $6.1 billion, respectively, for a total of about $11 billion. During the same period, Bithumb recorded $2.6 billion and $2.4 billion, respectively, totaling nearly $5 billion. However, as of this writing at 11 a.m. on Jan. 15, Upbit’s 24-hour trading volume has dropped back down to $2.1 billion and Bithumb to $874 million. "After the SEC's approval, crypto exchanges were simultaneously flooded with transactions," an anonymous industry employee commented. "Bitcoin and Ethereum were mainly traded." Fee divergenceAlthough the ETF approval caused a general uptick in trading volumes, the amount of revenue that the exchanges earned from transaction fees varied. Upbit charges a fee of 0.05% for both buying and selling crypto, meaning the exchange made an estimated KRW 14.8 billion in revenue from the fees from Dec. 11 to 12. Bithumb, on the other hand, hasn't earned any revenue from trading fees since its zero-fee policy was implemented in October last year.  Bithumb had previously charged 0.25% for transactions and 0.04% with coupons. By implementing the former, the exchange lost about KRW 15.8 billion ($12 million) in revenue, and with the latter, it lost about KRW 2.5 billion. For crypto investors, Bithumb's zero-fee policy has made investing more accessible, but the exchange is unlikely to reap its own rewards. Significant investor interestMoreover, with trading for the spot bitcoin ETF beginning on the 11th, the influx of funds is expected to boost trading. "All told there were 700,000 individual trades today in and out of the 11 spot ETFs," Bloomberg ETF analyst Eric Balchunas told X (formerly Twitter). "For context, that is double the number of trades for $QQQ." $QQQ refers to the Invesco QQQ ETF. According to an image that accompanied Balchunas’ post, the total trading volume across all 11 spot ETFs was reportedly $4.3 billion. Grayscale's GBTC had the highest volume at $2.1 billion, followed by BlackRock’s IBIT at $1 billion and Fidelity’s FBTC at $673 million.

NuriFlex Holdings partners with Catalyx Exchange to explore security tokens and RWAsNuriFlex Holdings Inc., the Canadian parent company of South Korean IoT solutions provider NuriFlex Co., Ltd., has recently signed a memorandum of understanding (MOU) with the Canadian cryptocurrency exchange, Catalyx. According to a report by the Korea Economic Daily, this collaboration is designed to facilitate both entities’ entry into the markets of security token offerings (STOs) and real-world assets (RWAs).Photo by Chris Liverani on UnsplashNuriFlex Group’s diverse portfolio and industry experienceWith a 30-year track record, NuriFlex Group has supplied global utility companies with robust software platforms designed for handling vast amounts of data. Beyond this, the group manages an array of services, including blockchain-based digital payments, a social dating metaverse known as NuriTopia and Web3 wallet services. Furthermore, NuriFlex Group has established a business network to support central bank digital currency (CBDC) initiatives in Central and South America as well as Africa. Leveraging its longstanding industry presence and extensive connections, NuriFlex Group strives to venture into the sectors of STOs and RWAs.Canadian crypto exchange since 2019Meanwhile, Catalyx Exchange, established in 2019 and headquartered in Calgary, Alberta, is known to have the management and technological expertise necessary to operate trading platforms for security tokens and RWAs.An official from NuriFlex Group conveyed their enthusiasm for the partnership, emphasizing their collective goal to lead the way in innovation. They intend to jointly launch a platform that is not only secure and efficient but also fully compliant with the laws and regulations of the country in which they operate.A representative from Catalyx also shared a positive outlook, noting that the exchange has been gearing up to branch out into the STO and RWA sectors for several years. They expressed their pleasure at having the opportunity to collaborate with NuriFlex Holdings on this venture.