India’s SEBI head wants instant settlement to counter crypto threat

Welcome Savings Bank Implements Blockchain-based Bank ID for Enhanced Customer ConvenienceWelcome Savings Bank, one of the mutual savings banks in South Korea, has announced a significant step towards enhancing identity security and customer convenience with the incorporation of Bank ID, a blockchain-based decentralized identity (DID) solution operated by the Korea Financial Telecommunications and Clearings Institute (KFTC), a payment services institution.Photo by Jonathan Cooper on UnsplashDID technology to prevent identity fraudThe utilization of DID technology marks a notable stride in preventing identity fraud. By storing user data on a secure distributed ledger, the system becomes highly resilient to counterfeiting or forgery attempts, ensuring a safer environment for customers’ personal information.Single sign-on functionalityWith this initiative, Welcome Savings Bank has become the first savings bank in the country to implement Bank ID, a solution predominantly adopted by prime commercial banks. This strategic move bolsters the bank’s digital competitiveness and improves customer convenience. With Bank ID, users can enjoy seamless access to their accounts across 18 Korean financial institutions without the hassle of logging in separately for each one, streamlining their banking experience.Customers of Welcome Savings Bank can utilize the bank’s mobile app to acquire a Bank ID by undergoing a verification process through a one-time password or security card. For existing Bank ID holders, adding Welcome Savings Bank to their list of banks is a straightforward procedure.The decision to embrace this innovative technology highlights the bank’s commitment to meeting the high standards set by prime commercial banks. By aligning with industry trends and bolstering their digital capabilities, savings banks like Welcome and other subprime banks can deliver improved convenience and a seamless banking journey to their valued customers.

South Korean gaming publisher Wemade opened sales for its “The Night is Coming” NFT collection on Jan. 11 to 12 to celebrate pre-registration for the global version of the massively multiplayer online role-playing game (MMORPG) Night Crows. All 341 NFTs were sold out, according to an official press release on Thursday (KST).Photo by Choong Deng Xiang on UnsplashUnveiling exclusive NFTsThe NFT Collection featured NFTs of different tiers, including Uncommon and Rare NFTs that went on sale on Jan. 11, as well as Epic, Legendary and Mythical NFTs that were available on NILE – short for “NFT Is Life Evolution,” a decentralized autonomous organization (DAO) and NFT marketplace on WEMIX3.0 – the next day. All NFTs were sold out within a day. Blockchain-backed fantasy gameBuilt on Unreal Engine 5, a three-dimensional computer graphics engine used for game and content development, Night Crows features high-quality graphics, an immersive world, realistic action and major in-game battles. It has topped the popularity and revenue charts on major app markets in South Korea since its launch in April last year. The global version of the game, which is scheduled for release in March, will harness blockchain technology and a multifaceted tokenomics system that tokenizes in-game items. It will also introduce character NFTs that keep character and player data in one place, connecting the game’s internal and external economies. Wemade also stated that owners of the NFTs can exchange them with CROW, the game’s native token, starting on April 1. The token’s value is stabilized by a minting process controlled by the Peg Stability Module (PSM), which allows users to swap a native stablecoin for other protocol-accepted stablecoins at a 1:1 rate.

Metaplanet, the Tokyo-headquartered Bitcoin corporate treasury firm, has purchased an additional 696 BTC, following a stock split, bringing its total Bitcoin holding to 4,046 BTC.Photo by Kanchanara on Unsplash$341 million in BitcoinThe company publicized details of its latest Bitcoin purchase on X on April 1. It outlined that funding of this purchase was enabled through the allocation of cash held by the firm as a consequence of the sale of put options.  The average purchase price of the 696 BTC was 14,586,230 yen ($97,694). The average price the firm has paid per Bitcoin in relation to its entire holding of the leading digital asset is 12,943,181 yen ($86,689). Its overall Bitcoin holding has a total value of approximately $341 million. Taking to X, the firm’s CEO, Simon Gerovich, said that Metaplanet’s Bitcoin Income Generation business achieved 770 million yen ($5.2 million) in Q1 revenue, while year-to-date its Bitcoin yield has reached 95.6%. Stock split & bond issuanceThis purchase follows both a stock split and the issuance of bonds worth 2 billion yen ($13.3 million). On March 31, Metaplanet filed a disclosure outlining details of the bond issuance. The company issued the zero interest bonds via its Evo Fund. Buyers will be permitted to redeem the newly issued bonds at face value by Sept. 30. In an X post, Gerovich suggested that the bond issuance was being implemented in order to facilitate the company “buying the dip,” taking advantage of a downturn in the Bitcoin unit price over recent weeks. In a notice filed on Feb. 18, Metaplanet outlined details of its 10-to-1 stock split. The company described how it executed a reverse 10-to-1 stock split last August. This has created a problem for investors as in the interim, the stock price has increased significantly. Consequently, the share price is unwieldy, placing a substantial financial burden on investors. On that basis, the latest stock split will enable greater investor accessibility and improved liquidity. Arising from that, Metaplanet expects that it will gain a broader investor base. On March 30, Gerovich reported that Metaplanet stock is now a component within Betashares’ Crypto Innovators ETF. Betashares is an Australian asset manager with over $50 billion in assets under management.  The Metaplanet CEO suggested that the development pointed towards “growing interest from institutional investors,” while expressing his satisfaction with Australians now having access to Metaplanet’s Bitcoin First Strategy via the Australian Securities Exchange (ASX). The ‘Asian MicroStrategy’Metaplanet is being regarded by many industry commentators as the “Asian MicroStrategy,” referring to the American Bitcoin treasury firm that recently rebranded to Strategy, having pioneered a particular approach to building a position in Bitcoin within a corporate treasury. Metaplanet appears to have adopted the same Bitcoin playbook. In an appearance on the Coin Stories Podcast recently, Metaplanet’s Gerovich said that he encourages his friends to put “100% of their net worth into Bitcoin.” Last month, the company confirmed that it was pursuing a strategy to accumulate 10,000 Bitcoin in 2025 and 21,000 Bitcoin by 2026. The firm is now ranked ninth in the world as a corporate Bitcoin holder. Within Asia, it is the leading corporate holder of the world's largest digital asset.