Crypto community optimism across Asia following Trump’s election victory

Kiwoom Securities and Koscom Partner to Pilot Security Token Platform Amid Regulatory ChangesKiwoom Securities, a securities firm based in South Korea, has recently taken a step forward by announcing its collaboration through a memorandum of understanding (MOU) with fintech company Koscom. This partnership aims to carry out a pilot program for a security token platform.Photo by Shubham’s Web3 on UnsplashPreparing for regulatory shiftIn light of the expected enactment of a revised bill that will establish a legal framework for security tokens, the two companies have joined forces to work towards creating standardized practices for security tokens. Once this regulatory act comes into effect, fractional investment companies — the entities responsible for issuing security tokens — will have the opportunity to kick-start their operations promptly. This will be possible by utilizing the systems developed by securities firms, also known as account management institutions. The primary objective of this MOU is to define the essential industry standards that will facilitate this process.Combining strengthsWhile Kiwoom Securities benefits from a substantial retail customer base, Koscom brings technological expertise to the table thanks to its four-decade-long track record of constructing the data infrastructure for capital markets. Together, they will work to verify the seamless integration of distributed ledger technology into the operational system of the securities firm.Kiwoom Securities has been making strides in this direction through its partnerships with diverse companies, including music copyright trading platform Musicow and fine arts fractional investment platform Tessa. These collaborations have provided Kiwoom Securities with practical experience and technological insights relevant to security tokens.Hwang Hyun-soon, CEO of Kiwoom Securities, expressed Kiwoom’s commitment to collaborating to ensure that the security token platform developed by both companies evolves into a benchmark platform for the future security token market.Hong Woo-sun, CEO of Koscom, remarked that they expect the agreement to play a role in advancing their security token businesses and developing the Korean security token market.

Rotonda and Hancom Frontis Join Forces for Web3 Ecosystem GrowthRotonda, the subsidiary of Korean cryptocurrency exchange Bithumb and the operator of cryptocurrency wallet platform Burrito Wallet, has recently announced a memorandum of understanding (MOU) with Hancom Frontis. This strategic partnership is geared towards accelerating the growth of the Web3 ecosystem.Photo by Shubham’s Web3 on Unsplash3D metaverse platformIn April, Hancom Frontis officially launched a 3D metaverse platform known as a:rz META. This platform offers a wide array of services, including virtual meetings, online education, and telemedicine, all facilitated by the integration of blockchain-powered digital assets.With the introduction of a:rz META, Hancom Frontis has shifted its focus to Web3-based businesses. The company aims to expand its user base globally through a series of gradual updates.Fostering mutual growthThrough this partnership, both entities are set to embark on several collaborative initiatives aimed at fostering mutual growth. These efforts include sharing resources like personnel, materials, and information, as well as strengthening their business networks. They will jointly engage in research and development of blockchain-based services and work towards enhancing policies for these offerings.Shin Min-cheol, CEO of Burrito Wallet, expressed excitement about their collaboration, stating that their joint efforts would lead to the creation of an advanced blockchain environment that boasts enhanced technology and services. He also highlighted that Burrito Wallet’s ongoing partnerships with businesses across different sectors would solidify the company’s position in the market as a distinguished wallet provider that offers practical services.Recently, Burrito Wallet has taken a significant step towards its global expansion by signing a partnership with Japanese blockchain gaming platform Oasys. Meanwhile, the Korean wallet firm has also expanded its support to 11 mainnets, consistently implementing updates to enhance user-friendliness of the platform.

Web3 chatting app Beoble launches beta version with 50,000 usersWeb3 social messaging app Beoble has secured over 50,000 users in just one day since the beta version of the app was released on Saturday (KST), according to a post on its official X account. This comes after pre-registration applications closed on Nov. 30, which saw over 100,000 sign-ups.Photo by Andrej Lišakov on UnsplashEmpowering Web3 connectivityBeoble is a Web3-based social messenger platform that employs a decentralized encryption network called the Communication Delivery Graph. It allows users to engage in end-to-end encrypted chatting between their digital wallets and offers a communication toolkit for integrating decentralized applications (dApps). The app currently supports all EVM-compatible blockchains like Ethereum and Polygon and plans to add others like Solana, Aptos and Sui in the future.“Beoble is essentially the first Web3 messaging app with the complete user experience,” said Cho Sung-min, CEO of Beoble.In particular, Beoble has gained attention for having a low barrier to entry due to its user-friendly user interface and experience (UI/UX). Notably, the platform facilitates direct communication between Web3 wallet owners and allows them to conduct non-fungible token (NFT) and peer-to-peer (P2P) transactions.Incentivizing community engagementThe Beoble team explained that the ongoing beta test will be an opportunity to incorporate user feedback and improve services. It will also be a period during which users can receive rewards based on their chat room engagement.“The more active users are in the community, the higher their rewards. Rewards can be obtained through activities like completing quests, following others, reacting to messages and logging in,” the firm explained. The Beoble rewards system distributes “cat points” to users based on their participation and contribution to the ecosystem, which are then used to determine their eligibility for rewards like token airdrops.Beoble also previously raised $2 million in pre-seed funding, backed by investors like Digital Currency Group, HashKey Capital and Genesis Blockchain Ventures. The platform’s public launch is scheduled for Q1 2024.