Intella X Partners With Aptos Foundation to Accelerate Growth of Web3 Gaming

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.

Incheon Empowers Korean Blockchain Startups with Binance and Undefined Labs as Accelerator OperatorsIncheon Technopark (ITP), a public organization dedicated to promoting startup growth in Incheon, South Korea, has revealed the selection of two accelerator program operators to support ten blockchain ventures. This joint effort between ITP and Incheon Metropolitan City aims to nurture blockchain startups and establish Incheon as a thriving blockchain hub.Photo by Shubham Dhage on UnsplashTwo operatorsA consortium consisting of Web3 gaming studio Ret Games, on-chain risk rating solution developer Undefined Labs, and global cryptocurrency exchange Binance will join forces as a single operator. Venture capital firm Nanuhm Angels will participate as the other operator. Each blockchain venture enrolled in the accelerator program will receive support worth 20 million KRW ($15,000) from one of the two accelerators. The application window will run from June 28 to July 21.Support contentUndefined Labs will provide comprehensive insights into the blockchain industry, covering technology, market trends, and use cases. Binance will offer consultations on business modeling and marketing strategies. Ret Games will share its expertise in developing blockchain services. Meanwhile, Nanuhm Angels will enable participants to test their business models by granting them access to Rotonda’s launchpad. Rotonda is a subsidiary of the Korean crypto exchange Bithumb and operates the Web3 Burrito Wallet.In a recent tweet, Jo Dong-hyeon, the founder of Undefined Labs, expressed his enthusiasm for assisting other companies in entering the blockchain industry.

Bitstamp, regarded as the longest-running cryptocurrency exchange in the business, declared on March 6 that it has obtained in-principle approval for a license to function as a Major Payment Institution (MPI) from the Monetary Authority of Singapore (MAS).Photo by Zhu Hongzhi on UnsplashFirst major Euro exchange in SingaporeThis preliminary approval, a precursor to a full-fledged license for operation in Singapore, marks a significant milestone for Bitstamp towards offering digital payment token services within the city-state. According to the exchange's press release, it's the first crypto trading platform with a substantial presence in the European Union (EU) to secure such approval from MAS. The nod from Singapore’s financial regulator arrives amidst notable regulatory strides in the crypto domain, including the European Union’s rollout of the Markets in Crypto-Assets (MiCA) framework and the green light given by the U.S. for Bitcoin ETFs. Focusing on AsiaBitstamp's strategic focus on the Asia Pacific region, with Singapore as its central hub, underscores its focus in delivering services to both institutional and retail clientele across the region. The firm’s intent in this regard became clear in August of last year when Bitstamp sought capital funding to enable it to extend the platform’s reach into various markets across Asia. Whilst the company’s origins can  be traced back to Slovenia, it has since developed further ties with Asia. In 2018, the company was acquired by NXMH, a subsidiary of South Korea’s NXC Corporation. The same holding company owns Korean crypto exchange Korbit. Compliance strategyWhile the licensing is quite the achievement, the company already boasts a robust regulatory track record, surpassing the 50-license mark across key markets such as Luxembourg, the Netherlands, Italy, Spain, France the United States (with coverage in 40 states including New York, Washington, Texas and Florida) and the United Kingdom. In its press release the company referred to its ever-growing licensing collection, outlining that “compliance and regulation [are] at the heart of all operations.” Leonard Hoh, Bitstamp's APAC General Manager, lauded Singapore's proactive stance in establishing a regulatory framework for crypto exchanges, positioning the city-state as a pivotal player in the digital assets landscape. Singapore has already granted full licenses to several crypto service providers, including Blockchain.com, Circle, Coinbase and Ripple. In late 2023, Bitstamp initiated talks with three major European banks regarding the potential introduction of cryptocurrency services in 2024. This signals a broader trend within the EU, where the crypto regulatory initiative, MiCA, is smoothing the path for traditional financial institutions to venture into the digital assets realm. Robert Zagotta, Bitstamp’s Chief Commercial Officer, highlighted the surge in interest surrounding its “Bitstamp-as-a-Service” offering, especially within European circles. This service furnishes a white-label licensing framework, coupled with requisite technology, to aid banks and fintech entities in facilitating cryptocurrency transactions for their clientele. However, the regulatory landscape isn't as welcoming in India, where the country’s Financial Intelligence Unit (FIU) urged the Ministry of Electronics and Information Technology to block the URLs of nine major global crypto exchanges, including Bitstamp, in late 2023.