Thailand’s SEC moves to block five exchanges to protect investors

Binance Japan Sets Out Market VisionDuring a virtual business discussion recently led by Takeshi Chino, the Head of Binance Japan, the firm provided insights into its vision within the Japanese market.Photo by David Edelstein on UnsplashIntegrating international version featuresSince its recent launch, Binance Japan has primarily been offering cryptocurrency spot trading and its “Simple Earn” crypto lending service. Expansion into leverage trading is on the horizon, aligning with the international version once regulatory requirements are met.Other key services that Binance has been offering on an international basis include its Initial Exchange Offering (IEO) platform “Launchpad” for emerging projects, staking services, and an NFT marketplace. While the exact timeline for introducing these services in Japan remains undisclosed, Chino assured attendees that there would be a gradual roll-out in compliance with local regulations.The vision that has been set out will see a particular focus being placed on potential collaborations involving stablecoins. Elaborating further on the company’s plans, Chino outlined that domestic expansion would encompass equities management, leverage trading, and the integration of features present in Binance’s global version.In reporting on the event, local crypto media outlet Coinpost explained that Chino further expressed Binance Japan’s ambition to establish connections between its ecosystem and Japanese private entities and government bodies, going beyond the scope of crypto transactions.Focusing on stablecoinsCentral to this vision is the integration of stablecoins into the existing financial infrastructure, with active partnerships leveraging Binance’s technology stack and track record.Chino recognizes the recent regulatory developments regarding yen-based stablecoins as a positive development for business expansion. While Japan’s stablecoin issuance framework remains stringent, collaborations for joint developments are being considered. The potential of yen-backed stablecoins for trade settlements and programmable payments is also being explored.Expanding crypto asset offeringBinance Japan has already made a significant mark by managing 34 equities since its inception, establishing itself as a leader in the Japanese equities landscape. Notably, Binance’s native BNB (Build and Build) token and the Algorand ALGO token have made successful entries into the Japanese market.In its take on the online briefing, Bloomberg outlined that Chino has an initial target of one hundred crypto assets. The global version of the company offers in excess of 350 assets to its users. In adding new assets, a focus will be placed on those particular digital assets that resonate with Japanese market preferences.Other short-to-mid-term goals include facilitating Security Token Offering (STO) payments through stablecoins, merchant onboarding for “Binance Pay,” educational initiatives, among others.Binance Japan emerged following the acquisition by Binance of Sakura Exchange Bitcoin (SEBC), a local crypto exchange, in November of last year. A regulatory backlash following a number of high profile crypto platform failures in 2022 led to Japanese regulators issuing Binance with a warning letter for failing to attain full registration.A response to past difficulties in Japan, in particular relative to the failure of Mt.Gox in 2014, meant that crypto market traders were protected better by comparison with market participants overseas.

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.

Web3 company Carrieverse has partnered with Korea Digital Assets (KODA) to facilitate robust investor protection and safe and transparent trading of virtual assets, according to South Korean news site Money Today on Tuesday (KST).Photo by Kaffeebart on UnsplashEnhancing investor securityRecently, there have been cases where corporate entities have demonstrated unstable management of the virtual assets they hold, particularly where withdrawals and distribution are concerned. Many investors have subsequently suffered losses due to incidents such as hacking. This partnership was established to protect investors from such situations. Carrieverse’s partnership with KODA is aimed at protecting investors from such troubles. The firm plans to safely store its cryptocurrency CVTX in KODA’s custody system, and vowed to boost transparency of transactions and clarify investor protection measures. "Recently, the number of Carrieverse users has exceeded 30,000 per day, and we are seeing an increase in on-chain data and CVTX holders. Our partnership with KODA will provide an environment for transparent cryptocurrency trading and bolster investor protection,” Carrieverse said. About KODA and CarrieverseKODA is a virtual asset custody service provider jointly established by KB Bank, Web3 digital wallet developer Haechi Labs and blockchain investment firm Hashed. It is known for its one-stop digital asset custody services catered to corporate and institutional clients. Carrieverse’s Web3 services include a metaverse, a blockchain gaming platform called Cling and the card strategy role-playing game (RPG) Superkola Tactics, which is playable on Cling.