Hong Kong digital yuan pilot lacks P2P capabilities

Komainu Partners with Copper to Enable Off-Exchange SettlementsKomainu, a well-established and regulated custody service provider and subsidiary of Japanese financial services conglomerate Nomura, has recently unveiled a new partnership with Copper, a digital asset solutions firm.This collaboration offers institutional clients of Komainu a means through which they can access off-exchange settlements. At a broader level, it is another significant development in progressing digital assets infrastructure.Photo by Gerd Altmann on PixabayClearLoop network accessKomainu, which was originally launched by Nomura in conjunction with Ledger and CoinShares, will be accessing Copper’s ClearLoop network as part of this collaboration. This partnership brings a host of possibilities for institutional clients of Komainu.What makes this collaboration particularly noteworthy is its ability to merge Komainu’s regulated, on-chain custody with the advanced off-exchange settlement capabilities of ClearLoop. As the institutional adoption of digital assets continues to gain momentum, the focus on managing custody and counterparty risk has never been more critical. Recent events, such as the collapse of the crypto exchange FTX alongside a plethora of crypto lending platforms, have served as stark reminders of the significance of robust custody solutions in this space.ClearLoop network growthClearLoop, with its distinctive feature of holding assets until just before a trade execution, effectively mitigates counterparty risk by seamlessly connecting multiple exchanges within a single trading network. This innovative approach eliminates the need to transfer assets to an exchange-based wallet, streamlining and fortifying the institutional trading process.UK-based Copper has been making market in-roads with its off-exchange settlement tool which it first launched in 2020. In March crypto exchange platform Huobi signed a memorandum of understanding (MOU) with Copper with the intention of joining the ClearLoop Network. Bitstamp, the world’s oldest crypto exchange, followed in April with its intention to integrate with ClearLoop.Singapore’s Matrixport was next to join in May, followed by Seychelles-headquartered crypto exchange Bitget in August.The leaders of both companies, Nicolas Bertrand, CEO of Komainu, and Dmitry Tokarev, CEO of Copper, expressed their enthusiasm for this partnership. Bertrand highlighted the importance of diversifying counterparty risk and commended the partnership’s ability to offer clients the best of both worlds. He emphasized that by combining Copper’s proven processes and connectivity with Komainu’s on-chain, segregated, and regulated custody platform, this partnership is set to raise the industry’s standards significantly.UK regulatory approvalEarlier this month, Komainu achieved a further milestone when it received regulatory approval from the UK’s Financial Conduct Authority (FCA) to operate as a custodian wallet provider. This achievement aligns with the regulatory framework established to combat money laundering, terrorist financing, and fund transfers.In a landscape where institutions are increasingly embracing digital assets, the partnership between Komainu and Copper demonstrates that the industry is moving towards ushering in a new era of more secure, efficient, and trustworthy financial markets. With the FCA’s regulatory approval, Komainu is solidifying its attempts towards adhering to the industry’s most rigorous security and compliance standards.

Coinone adds asset analysis service and fiat currency deposit featureSouth Korean cryptocurrency exchange Coinone has added a new asset analysis service, which allows users to easily track their profits and losses, as well as asset trends over time. The latest feature is designed to provide investors with comprehensive insights into their investment performance, including detailed information on their asset history. It is accessible through the “Assets” category on the Coinone website and mobile app.Photo by Markus Winkler on Unsplash“Coinone has been dedicated to enhancing user convenience, conducting over ten service updates this year alone. Moving forward, we will prioritize user needs by conducting in-house analysis and receiving customer feedback in order to provide the best crypto trading services,” said the exchange’s CEO Cha Myung-hun.Charting profit pathsUsers can analyze the trends of their profits and losses over certain periods ranging from weeks to years, the exchange explained, which are displayed on various charts and tables. They can choose to view either daily or cumulative figures along with other relevant information. The “Asset Trends” category also offers a detailed overview of the fluctuation in the total value of a user’s assets. This includes easily accessible data on how the values of the fiat currency (Korean won) and virtual assets that they hold have changed over time.Seamless transactionsCoinone has also added another feature where users can make fiat deposits directly during transactions. In the case that a user does not have enough fiat currency deposited into their account when purchasing virtual assets, a pop-up window appears, leading to a screen that displays the necessary amount that must be deposited and a function that allows them to do so. Upon completing the deposit, users can continue with their purchase. They can also navigate to the fiat deposit screen by selecting the plus symbol icon next to the available purchase amount.

Piggycell, a blockchain decentralized physical infrastructure network (DePIN) startup, recently announced that it has successfully closed its seed investment round for $10 million. Piggycell will mainly use the funds raised from the investment round to expand its charging infrastructure and ecosystem further.Piggycell is improving the ownership and management of charging infrastructures through DePINs and real-world assets (RWAs). By integrating blockchain technology with physical assets, Piggycell aims to empower users through decentralized ownership, transparent profit-sharing models and enhanced community engagement. Since its establishment in 2020, Piggycell has made advancements in developing its infrastructure. It currently has over 13,000 charging hubs with over 100,000 batteries across all cities in South Korea. As a key player in the country's portable battery rental industry, Piggycell boasts nearly four million users and commands over 90% of the market share. One of the notable investors in the round is Animoca Brands, a Web3 company that uses blockchain technology to provide digital property rights to consumers worldwide, supporting the development of the open metaverse. Animoca Brands is one of the most active investors in Web3, with a portfolio of over 540 investments. Another key investor in this round is Internet Computer (ICP), a third-generation blockchain developed by the DFINITY Foundation that enables full end-to-end decentralization without the use of cloud computing. With its cryptographic methods, ICP supports fully on-chain applications, including complex web services.The investment from Animoca Brands, ICP and other investors further endorses Piggycell as a DePIN platform that bridges traditional Web2 services with the Web3 ecosystem. Having received backing from Web3 investors, Piggycell is now working to accelerate its decentralized infrastructure network with next-generation blockchain capabilities. Piggycell plans to launch its DePIN platform in the first half of 2025.  About PiggycellPiggycell is an RWA and DeFIN project that merges blockchain with real-world utility, offering a Charge-to-Earn experience. Its power bank-sharing infrastructure rewards users for charging their devices, bridging digital incentives with real-world convenience. By combining hub-based charging stations with blockchain technology, the project seeks to enhance transparency and efficiency through a digital twin strategy. Beyond charging, Piggycell integrates a social app-tech gaming platform, fostering interaction, gamification and community-driven growth.