China’s JD.com to apply for stablecoin licenses in key markets

The 38th Young Architects Forum, which will explore the integration of metaverse technology into architecture, is set to take place next Thursday at the Weple NFT Gallery building in Yongsan-gu, Seoul, according to an official announcement on Friday (KST). Co-hosted by STELSI, a Build-to-Earn (B2E) decentralized metaverse project, and the Young Architects Forum Korea, the event will revolve around the theme “Beyond Realms: Architectural Odyssey in the Metaverse Era,” hosting experts from the architecture industry and anyone interested in the topic. Photo by Redd F on UnsplashArchitectural imperatives in the era of Web3In particular, the forum will delve into the impact of the Fourth Industrial Revolution and blockchain technology on AI architecture and the metaverse. A crucial consideration in this topic is the role that architects must play in an unprecedented era of Web3, namely promoting creativity while determining ethical boundaries through collaboration and sharing of ideas. Another point for discussion will be expanding diversity and the possibilities in architecture by tapping into advancements in digital technologies. STELSI is a decentralized metaverse island that provides a realistic and intuitive extended reality (XR) experience where users can design, construct and manage buildings. Built with the 3D creation tool Unreal Engine, it aims to support the seamless application of blockchain technology across different sectors of the construction industry, including architectural planning and design, construction and real estate. The platform also runs on a native token called STELSI, which users can earn by staking building NFTs. The event’s other organizer, the Young Architects Forum Korea, was established in 2011 with a mission to boost the presence of young architectural visionaries in South Korea. The forum provides opportunities for them to leverage their talents and expertise to contribute to societal advancement. In addition to the Young Architects Forum, it also hosts other events like exhibitions, cooperative projects and seminars. Professionals uniteSpeakers set to attend include STELSI CEO Ryan Shim, CSO and Co-Founder of IoTrust Yoo Min-ho, CCO of jpa. JUNGLIM Architecture Kim Kyung-hoon and more. Firms like blockchain news outlet Tokenpost, LandFi metaverse OrbCity and Wepin Wallet are also sponsoring the event. STELSI stated in its announcement that the forum aims to “provide a unique space for architects who perceive the world differently, transcending dimensions.”

Stella Chan, the chief operating officer of Phemex, a crypto derivatives exchange with a presence in Turkey and Singapore, recently provided details of the company’s unveiling of its Lending Protocol and SocialFi initiative Pulse Season 3. In an interview with Cointelegraph, Chan outlined that since the founding of the firm in 2019, the company has been evolving and working towards carving out a niche for itself in the industry. The executive confirmed that the exchange business has reached a point where daily trading volume now exceeds $2 billion across more than 300 trading pairs. Pulse Season 3Chan is also the co-founder of Phemex’s Pulse, a social trading platform that rewards users while attempting to foster a community spirit within the crypto sphere. As part of Phemex events held at Token 2024 in Dubai last week, the company announced Pulse Season 3, a SocialFi mechanism to incentivize community engagement. The initiative introduces casting and tipping features. Casting is a means through which community members can post up content. Meanwhile, tipping serves as a method through which other community members can acknowledge and reward high-quality community member contributions. Through this initiative Phemex is hoping to deliver an enhanced experience where trading seamlessly intersects with trending topics and insightful content.Photo by Shubham Dhage on UnsplashPhemex Lending ProtocolAlongside Pulse Season 3, the company has also launched the Phemex Lending Protocol, a feature allowing users to borrow crypto at competitive rates while earning interest. As part of that offering, all loans are safeguarded through the collateralization of the user’s digital assets. With an initial liquidity allocation of $22 million, this protocol has been established with an eye towards empowering traders to amplify their capital without selling their assets, while aligning in a more general sense with the user’s overall trading needs. Phemex is attempting to spearhead the transition towards greater user autonomy without compromising security. The Phemex Lending Protocol is central to that effort, offering users competitive borrowing rates and opportunities for passive income generation.  Standing testament to that, the platform offers interest rates on USDT starting at 3.57%. For those that hold vePT, the wrapped version of the platform's native Phemex token (PT), an additional 30% discount on borrowing rates is being offered. vePT is destined to act as a token which confers voting authority in the not too distant future, relative to Phemex’s governing decentralized autonomous organization (DAO). The platform is further enabling capital efficiency from the service user’s perspective by applying very little restriction so that funds can be withdrawn and redeployed at will, with minimum delay. Coming off the back of these announcements during Token 2024, the company appears to be following through on that momentum. Taking to the X social media platform on April 25, Chan outlined details of a plethora of user experience (UX) upgrades relative to its Pulse offering. Future plansLooking ahead, Phemex envisages the offering of a broader range of products tailored to user needs. Plans for an automated market maker (AMM) protocol aim to provide users with passive earning opportunities by contributing to liquidity. Additionally, Phemex is exploring the development of an on-chain credit scoring mechanism, leveraging its soulbound digital identity token to enhance access to decentralized finance (DeFi).

SBINFT, a Web3 subsidiary of the Japanese financial giant SBI Holdings, is launching a proof-of-concept experiment in collaboration with Obayashi Corporation, a major Japanese construction firm. The initiative, scheduled to run from Feb. 1 to Feb. 28, 2026, aims to test whether non-fungible tokens (NFTs) can drive user engagement and support community development. According to a press release distributed via PR Times, the project will use SBINFT Mits, the company’s NFT marketing platform, within the framework of Minmachi SHOP, a platform operated by Obayashi. Minmachi SHOP allows users to vote on, book, and purchase various goods and experiences—ranging from prepared meals to workshops—hosted in temporarily reserved spaces within offices and nearby buildings.Photo by Andrey Metelev on UnsplashPolygon-based NFTs underpin membership systemThe upcoming experiment introduces a blockchain-based membership system to this ecosystem. Users will create accounts on SBINFT Mits and receive a membership card NFT issued on the Polygon blockchain. This digital asset will serve as a dynamic record of their engagement within the Nakanoshima–Yodoyabashi area. During the trial, users can increase their membership rank through activities like utilizing services offered through Minmachi SHOP and inviting new users to the platform. These interactions are recorded as metadata on the blockchain. The companies aim to evaluate whether this on-chain data—stripped of personally identifiable information—can serve as an objective metric for community development. While specific incentives are still being finalized, higher membership ranks may unlock benefits such as discounts, access to exclusive services, or invitations to restricted events. EXPO2025 legacy program seeds partnershipThe partnership emerged from the MUIC Innovation Co-Creation Program, an initiative organized by MUIC Kansai, a foundation established by Mitsubishi UFJ Financial Group and MUFG Bank. Designed as a hub for the EXPO2025 legacy, the program connects diverse stakeholders to foster social implementation platforms. Obayashi joined the program to explore how Minmachi SHOP could support community initiatives based on local demand. Simultaneously, SBINFT sought partners to test NFTs as incentives for sustained user engagement. Through program discussions, the companies identified NFT-based gamification as a potential mechanism to connect local governments, developers, and residents. The collaboration comes amidst a broader push by SBI Holdings into the digital asset space, even as executives voice concerns over Japan’s regulatory environment. In December, Tomoya Asakura, CEO of SBI Global Asset Management, criticized the slow pace of Japan’s cryptocurrency tax reform. According to DL News, Asakura warned on X that Japan risks falling behind jurisdictions like the U.S., Asia, and the Middle East due to a tax regime that levies up to 55% on crypto profits and prohibits loss carryovers. Although the Financial Services Agency (FSA) has signaled its intent to reclassify crypto as an investment vehicle—potentially lowering the tax rate to a flat 20% in line with traditional assets like stocks—legal amendments are not expected to take effect until 2028, reflecting the time required to revise relevant laws and government ordinances. As Japan’s regulatory framework around crypto continues to evolve, SBI continues to expand its Web3 footprint. Asakura’s comments came after reports that SBI Holdings plans to launch a yen-backed stablecoin in the second quarter of this year through a partnership with Startale. Together with Sony Group, Startale established a joint venture called Sony BSL to launch Soneium, a public Ethereum layer-2 network. However, the conglomerate is also recalibrating its portfolio. In September, Bloomberg reported that SBI Zodia Custody, a joint venture with Standard Chartered’s Zodia Custody, would discontinue operations. The decision to close the venture, which was split 51% to 49% between SBI and Zodia respectively, was described by a Zodia executive as a strategic alignment rather than a withdrawal. An SBI spokesperson confirmed that the dissolution was an effort to generate greater collective impact across the company's digital ecosystem, rather than a retreat from crypto custody services.