Hana Financial Group bets on stablecoins and AI as crypto adoption surges in South Korea

NEOPIN and Sevenline Labs collaborate to boost Web3 gaming expansionCentralized decentralized finance (CeDeFi) protocol NEOPIN has entered into a partnership with Sevenline Labs, a Korea-based company specializing in blockchain solutions. This collaboration is aimed at fostering expansion in the Web3 gaming ecosystem.Photo by Alicia Christin Gerald on UnsplashGames of different genres and platformsSevenline Labs is currently operating a Web3-powered esports tournament platform called Miracle Play. Leveraging application programming interfaces (APIs), the platform offers games of different platforms of genres on blockchain networks. It enables mobile, desktop, console and Web3 gamers to engage in diverse tournaments and earn rewards from competitions.Sevenline’s inaugural service, operating on the Polygon Network, has successfully completed a closed beta test specifically targeted at Indonesian communities. Currently, the company is in the process of conducting an open beta test. Looking ahead, Sevenline is planning to extend its support to various chains compatible with Ethereum virtual machines (EVMs). This expansion includes notable blockchain platforms such as Avalanche, Binance Smart Chain, Oasys, Solana and Klaytn. The ultimate objective of Sevenline is to orchestrate large-scale tournaments between different mainnets, with each of them representing a distinct faction.Through the collaboration between NEOPIN and Sevenline Labs, NEOPIN’s global partners will introduce their Web3 games to the Miracle Play platform. This move allows users to voluntarily host and participate in various tournaments, thereby enhancing the visibility and popularity of these games. Concurrently, Web3 gaming companies that have formed partnerships with Sevenline will be incorporated into the NEOPIN ecosystem.Native tokens to be supportedThe integration of the NEOPIN wallet with Miracle Play is a strategic move that aims to attract a global user base, particularly those who have completed Know Your Customer (KYC) and Anti-Money Laundering (AML) checks. This strategy presents a win-win scenario for both NEOPIN and Miracle Play. NEOPIN benefits by gaining access to a dedicated community of Web3 gamers who will actively organize and partake in tournaments on the Miracle Play platform. In return, Miracle Play taps into the decentralized finance (DeFi) user base associated with NEOPIN. Furthermore, both platforms plan to support their native tokens — the NEOPIN (NPT) token and the Miracle Play (MPT) token in the future.Ethan Kim, CEO of NEOPIN, expressed that the partnership will be beneficial in three aspects: attracting Web3 gaming partners, acquiring mutual users and expediting the adoption of the Web3 gaming ecosystem. He emphasized NEOPIN’s commitment to accelerating the global expansion of the NEOPIN ecosystem through these strategic efforts in promoting the Web3 gaming sector.

Arthur Hayes: Chinese monetary policy could ignite crypto marketArthur Hayes, Co-Founder of Seychelles-incorporated crypto exchange and derivatives platform BitMEX, suggests that China could inject a substantial amount of credit into its economy, potentially giving a boost to Bitcoin and the broader crypto market.Photo by Eric Prouzet on UnsplashPotential flood of yuan creditThe firebrand crypto OG outlined his thoughts on the matter in a blog post which was published on Monday. Hayes discussed how, although China has currently made credit expensive in order to hold back credit growth and inspire confidence in the economy, its monetary authorities might be gearing up to flood the economy with yuan credit, creating a favorable environment for cryptocurrencies.He outlined a series of factors contributing to this potential surge in Chinese credit. He pointed to the interplay between U.S. monetary policy and the Chinese yuan, emphasizing how recent U.S. actions are laying the groundwork for China to issue substantial credit, particularly to its struggling property sector.Describing U.S. policy as “weakening the dollar by issuing more Treasury bills,” Hayes noted the consequent decline of the dollar index (DXY) throughout November. He argued that the weaker dollar gives China the flexibility to increase yuan credit without significant depreciation, possibly even leading to yuan appreciation.If the Federal Reserve at a minimum holds rates and better still, starts to cut rates, China will be in a position to pursue the stimulus needed for its property market and for infrastructure spending.Hong Kong as the gateway to capital marketsAccording to Hayes, the global monetary dynamics set in motion by these factors could be advantageous for Bitcoin and the broader cryptocurrency market. He explained that the bulk of the financing will trickle down into speculation within the financial markets. If China starts printing yuan, the capital is likely to flow into global markets, supporting the prices of various risk assets.But how can this happen, given that speculation and crypto trading are prohibited in China? Hayes’ view is that Hong Kong is now China’s gateway to the global capital markets. Wealthy Chinese individuals now bank via Hong Kong. As we have seen, the autonomous Chinese territory has a workable regulatory framework in place and is now actively licensing crypto exchanges and brokers. Consequently Bitcoin and crypto, generally, could be among the risk assets benefiting from an influx of capital.Furthermore, the BitMex co-founder believes that as yuan credit becomes abundant, the global demand for dollar credit and liquidity may decrease. Given that the dollar is a primary funding currency, a fall in the price of credit could lead to a rise in fixed-supply assets like Bitcoin and gold in dollar terms.Hayes concluded what is a long and detailed blog post by stating:“I will continue moving money out of T-bills and into crypto because I want to get in now before it becomes apparent through the data that China’s money printer is going brrrrr.”He suggested that Chinese New Year, which occurs in mid-February of next year, could be the time in which that extra credit materializes in China. Hayes’ latest assertion comes on the back of a bold claim he made last month when he suggested that bitcoin could reach a unit price of $1 million by 2026.

BPMG to Showcase Blockchain Gaming Platform ‘GemHUB’ at G-STAR 2023South Korean blockchain tech company BPMG is set to visit the southern port city of Busan next month to participate in global game exhibition G-STAR 2023. BPMG will install a booth in the Business-to-Business (B2B) section in Exhibition Center 2. At the event, the company intends to highlight its Web3 gaming platform, GemHUB, and establish connections with potential partners. These collaborations will pave the way for BPMG to enter the global blockchain gaming market.Photo by Ahmed Atef on UnsplashGaming platform for competitionBPMG will also promote GemPION, a new game service that it will launch on November 16 in collaboration with global blockchain firm Everscale. GemPION stands out as a dedicated platform for competitive gaming, offering users of games hosted on the platform the opportunity to participate in tournaments and various missions. This blend of gaming and mission-based challenges is expected to deliver a more immersive and engaging experience for users.New, additional gamesIn anticipation of the G-STAR exhibition, BPMG is working to onboard four new games onto its platform. One of them is strategy battle RPG Heroes9 with NFT, and the other three are puzzle games: Jewel Dungeon Quest, Mayan Cryptex, and Farm Raid Mission.Furthermore, GemHUB has plans to introduce 10 additional games, including MMORPGs like Rappelz Universe, Flyff Universe, and Dark Eden M, along with social game Every Farm. This expansion aims to enrich the gaming offerings on the GemHUB platform, catering to a wider audience of players.