Korea's Busan city utilizes blockchain to advance shipping and coffee industries

Wintermute Asia executes inaugural options block trade via CMEWintermute Asia Pte. Ltd, the digital asset derivatives trading arm of the well-known algorithmic trading firm and crypto market maker Wintermute Group, has successfully executed its first options block trade through the CME Group.The BTC/USD block trade was conducted in collaboration with U.K.-based liquidity and data solutions specialist TP ICAP. It was successfully cleared by ABN AMRO, marking a significant milestone for Wintermute Asia in the digital assets space.Photo by Kanchanara on UnsplashMeeting institutional investor needsInstitutional interest in secure and alternative avenues for exposure to digital assets continues to build momentum. It’s likely with that in mind that Wintermute Asia is strategically expanding its derivatives product offerings with this latest move. It’s also no surprise that Wintermute’s Singapore-based team was involved in this development, given a recent expansion of its Singapore base and the fact that its derivatives business is dealt with in Singapore.Presently, Wintermute Asia provides vanilla options in BTC, ETH and various altcoins, featuring expiration periods ranging from 1 day to 6 months. The platform also caters to more sophisticated needs with the inclusion of exotic options.Evgeny Gaevoy, CEO of Wintermute Group, expressed enthusiasm about Wintermute Asia’s evolving product offering, stating:“Wintermute Asia is excited to offer a range of OTC derivatives solutions to our counterparties that can accommodate all of their trading needs. Our growing suite of derivative instruments allows investors to easily hedge and manage risks, generate yield, and gain synthetic exposure to the underlying digital assets.”The move towards facilitating options block trades aligns with the increasing diversification of institutional portfolios into the digital asset sector. Giovanni Vicioso, Global Head of Cryptocurrency Products at CME Group, emphasized the significance of the partnership with Wintermute Asia. He commented:“We are pleased to provide Wintermute and its counterparties with access to our highly liquid, regulated suite of benchmark cryptocurrency futures and options on bitcoin and ether.”Involving TradFi heavyweightsCME is a cornerstone TradFi financial derivatives exchange, first established in 1898 and headquartered in Chicago in the United States. Its CEO Terry Duffy pushed back against proposals from convicted fraudster and FTX Founder Sam Bankman Fried in 2022 to alter the futures clearing model on the basis that such a move would introduce significant risk into the financial system. A year on from the failure of FTX and many other crypto platforms, a move towards involving established TradFi firms like CME, as Wintermute is doing, is far more appealing to institutional investors.Sam Newman, Digital Assets Head of Broking at TP ICAP, acknowledged Wintermute as another participant in block trading CME Group cryptocurrency products. TP ICAP, a key player in digital asset broking services since 2020, has been instrumental in price discovery and liquidity through global coverage on regulated exchanges. Newman expressed excitement about witnessing crypto-native firms like Wintermute accessing traditional products and services, indicating the market’s maturation.Earlier this year, CME Group upgraded its BrokerTec Stream from version 1.5 to 2.0. The upgrade aims to enhance performance and reduce latency for clients, introducing features such as sweepable matching and firm price improvements. Recently, CME became the second largest bitcoin futures exchange, second only to global crypto exchange Binance.

Korean game company Krafton’s metaverse studio OVERDARE announced yesterday via its official blog that it forged a partnership with Circle, a U.S.-based fintech firm that issues stablecoin USDC. Founded in December 2023, OVERDARE is a joint venture between Krafton and Naver Z, a subsidiary of online platform operator NAVER Corporation.  In collaboration with Circle, OVERDARE plans to jointly develop its own USDC payment and settlement system in addition to the Web3 wallet. These services are set to be adopted by its upcoming user-generated content (UGC) platform “OVERDARE,” which bears the same name as the company. Photo by Javier Martínez on Unsplash A metaverse platform for game creationThe soon-to-be-launched OVERDARE is a metaverse platform where users can create various types of games ranging from action role-playing games (RPG) to sports and shooting games. What enables users to create games with ease on this platform is “OVERDARE Studio,” a sandbox tool equipped with generative AI and Unreal Engine 5.   OVERDARE adopts the Create-to-Earn (C2E) system, which returns a portion of the sales profit to creators. The creators’ works in the form of NFTs and their transaction details are recorded onchain, strengthening the transparency of transactions and payments. OVERDARE’s self-developed Layer-1 blockchain mainnet “Settlus” will also do its part in the service operation, which would license the intellectual property (IP) of creators’ works on Web2 platforms.  Stablecoin to empower creator economy“Circle is excited to be at the forefront of this pioneering venture with OVERDARE to empower the creator economy through the provision of secure Web3 wallets and near-instant USDC payouts on a global scale. We believe this partnership will be a catalyst in shaping the future of digital entertainment, ultimately fostering an innovative Web3 environment for all,” said Jeremy Allaire, CEO and co-founder of Circle. Henry Park, CEO of OVERDARE, stated, “We’re excited to unveil our partnership with Circle, a company distinguished by its regulatory compliance and trustworthiness. Their robust support ensures that we are able to support the creator economy, and guarantee creators reliable access to their earnings.”OVERDARE is scheduled to launch a large-scale user test in the first half of this year and officially launch the service in the second half.

Wemade Unveils Blockchain-Powered Platform for Various CommunitiesSouth Korean gaming company Wemade today unveiled their latest creation, Wepublic, a blockchain-powered platform for various communities. The objective of Wepublic is to establish a transparent and trustworthy digital society on the WEMIX3.0 Mainnet.Photo by Pixabay on PexelsFrom political parties to NGOsInitially built as a fundraising platform, Wepublic caters to entities of any scale or domain, be it political parties, religious groups, or non-profit organizations. Wepublic is committed to transforming itself into a platform for everyone.By leveraging blockchain, Wepublic ensures that all information and records stored on the platform are transparent, making them immune to counterfeiting and diversion. Furthermore, Wepublic is dedicated to fostering inclusivity and democratic decision-making. Every member within a group on Wepublic has the ability to engage in organizational activities and contribute to fair decision-making processes.Four proof protocolsIn the near future, Wepublic will introduce the “Wepublic Wallet,” enabling users to create or participate in decentralized autonomous organizations (DAOs). To ensure transparency and reliability of DAO operations, Wepublic relies on four proof protocols. These protocols serve to verify user identities, credentials, account balances, and the outcomes of governance processes.The first protocol utilizes decentralized identifiers (DIDs) to safeguard personal information, prioritizing user privacy and security. The second protocol employs soulbound tokens (SBTs) to effectively manage groups within the platform. The third protocol provides visibility into account balances and transaction records, adding an additional layer of transparency. Lastly, the fourth protocol ensures the transparent recording of all governance processes on the blockchain, promoting accountability and trust.