Dunamu releases content from Upbit D Conference for free on YouTube

German multinational investment bank Deutsche Bank, is collaborating with Singapore's central bank on asset tokenization.  Project GuardianThe company announced on May 14 via a press release that it has joined the Monetary Authority of Singapore’s (MAS) Project Guardian. Project Guardian is an international collaboration between a number of market regulators, led by MAS. Other participants in the initiative include the UK’s Financial Conduct Authority (FCA), Japan’s Financial Services Agency (FSA) and Switzerland’s Financial Market Supervisory Authority (FINMA). The project focuses on asset tokenization relative to wholesale funding markets and decentralized finance (DeFi) applications.Photo by Mariia Shalabaieva on UnsplashThe bank outlined how it intends to participate as part of the collaboration, stating: “As part of the asset and wealth management workstream, the bank will test an open architecture and interoperable blockchain platform to service tokenized and digital funds. It will then propose protocol standards and identify best practice to contribute to industry progress.” The bank’s participation in the project will be headed up by its Asia Pacific (APAC) head of securities and technology, Boon-Hiong Chan. Anand Rengarajan, Head of Securities Services for Asia Pacific and the Middle East, commented on the development, stating:“Contributing to Project Guardian will bolster our efforts to help shape the new frontier of asset servicing, and strongly position us to contribute to industry progress, and not only anticipate our clients’ needs but exceed their expectations.”  Memento Blockchain partnershipDeutsche Bank outlined that it intends to work closely with Memento Blockchain on the project. In fact, it has an existing ongoing collaboration in place with Memento, the developer of a decentralized asset management platform. Memento has developed multi asset swap products and it is currently working towards the development of a zero knowledge layer-2 solution. The duo have worked together over the course of the past two years. A proof-of-concept known as Project DAMA (Digital Assets Management Access) emerged from that partnership. That body of work will be extended into DAMA 2.  Memento Blockchain is the software developer behind the Domani Protocol. It stated on X that more technical details relative to the collaboration will be released in the coming weeks. It added that the collaboration will also involve Interop Labs, the developer of the Axelar Network, the programmable Web3 interoperability platform.  Earlier this year, the Axelar Foundation established a partnership with payment technology firm Ripple Labs with a view towards tokenizing real world assets (RWAs) on top of the XRP Ledger, enabled via Axelar. Axelar co-founder and Interop Labs CEO Sergey Gorbunov told Cointelegraph that “it’s now clear that secure blockchain interoperability is required to unlock the trillion-dollar potential in asset tokenization.” Gorbunov added that “Deutsche Bank and Project Guardian are leading innovation toward establishing the open systems that will enable this technology.” He highlighted the relevance of the Axelar Network in that endeavor, suggesting that “Axelar is critical infrastructure for institutional adoption."

Japan’s Mitsui Introduces Security Token Service to Sony Bank CustomersAccording to a press release, Mitsui & Co. Digital Asset Management (MDM), a blockchain-based asset management company in Japan, forged a partnership with Sony Bank, a member of Sony Financial Group, to introduce its security token service, Alterna, to the Tokyo-based online bank’s clientele, beginning June 9.Photo by Aleksandar Pasaric on PexelsBank customersMDM aims to establish security token funds and offer them to Sony Bank customers via Alterna, aiming to facilitate stable asset accumulation. This partnership will allow Sony Bank to provide a broader range of financial services.Under the agreement, MDM has entrusted Sony Bank to handle the process of gathering customers interested in purchasing security tokens offered by Alterna. Sony Bank, as MDM’s first online banking partner, will introduce the security token service platform to its customers. MDM is responsible for designing and selling security tokens through Alterna, which will benefit Sony Bank customers.Alterna enables users to transfer funds to securities accounts on its platform without any charges, 24/7. Through the partnership, users can move funds from their Japanese yen deposit accounts at Sony Bank to the accounts available on the Alterna platform. This interlinking of securities and bank deposit accounts will furnish customers with a variety of options for asset accumulation through the use of security tokens.Savings to investmentsBoth MDM and Sony Bank plan to encourage a shift from savings to investments, exploring the development of security tokens and related initiatives.Alterna made its official debut last month, garnering more than 10,000 pre-registrants before its launch. Alterna enables individuals to invest in real-world assets, such as large-scale real estate properties, that generate stable rental income. With security tokens, the platform opens doors to previously inaccessible opportunities, requiring a minimum investment of 100,000 yen.

Meme coin project Floki Inu has implemented restrictions on users in Hong Kong from accessing its staking programs following a warning from the Hong Kong Securities and Futures Commission (SFC). Last week, the regulatory body labeled Floki's staking initiatives as "suspicious investment products'' and urged caution among investors. On Jan. 26, it specifically cautioned Hong Kong users about the Floki and TokenFi staking programs, emphasizing the promised annualized returns ranging from 30% to over 100%. The Commission expressed concern over investment products that make claims of returns deemed "too good to be true."Photo by Jie Yeu Teoh on UnsplashStaking program access block in Hong KongResponding to the SFC's warning, Floki Inu took proactive steps to prevent users in Hong Kong from participating in its staking programs. In an official blog post which was published on Tuesday, the project's team announced the implementation of "practical measures" to block Hong Kong-based users from joining the staking programs. Additionally, prominent warnings have been placed on the Floki and TokenFi staking websites, clearly stating the ineligibility of Hong Kong users to participate. The SFC emphasized that neither of the mentioned investment products holds authorization in Hong Kong, warning that unauthorized schemes provide limited to no protection under its Securities and Futures Ordinance (SFO). Investors engaging in such unauthorized schemes may face the risk of losing their entire investments. Addressing regulatory concernsFloki Inu's team has responded to the regulatory concerns by actively collaborating with legal advisers to address potential regulatory issues associated with the staking project. The team committed to responsible community practices, while affirming its dedication to implementing measures to prevent Hong Kong users from participating in the staking program until regulatory concerns are resolved. As of Jan. 29, there is no record of Hong Kong users joining the staking programs, according to the Floki team. Furthermore, the team revealed that offline marketing activities in Hong Kong had already been halted before the project's launch in December 2023. Clarifying high yieldAddressing the SFC's primary concern regarding the high annual percentage yield (APY), the Floki team provided explanations. They clarified that the rewards are subject to volatility influenced by market dynamics and the value of staking rewards may fluctuate based on the market valuation of the token rewards. The team attributed the high APY for its staking programs to the allocation of the majority of TokenFi's token supply to token stakers, highlighting that the project had not raised venture capital funds or conducted a presale. They noted that market forces beyond their control had significantly increased the TokenFi price from its initial market cap at launch. In response to potential user confusion, the Floki team emphasized the complete decentralization of the staking programs for Floki and TokenFi, assuring users of a clear understanding of how the programs operate. They concluded by expressing their commitment to ongoing collaboration with regulatory bodies to ensure compliance and foster a responsible and transparent environment for users. Community response has been largely positive with one crypto influencer claiming: “You will not find a more legit team in #Crypto than $FLOKI. I’ve known about them for years and everyday they continue to handle themselves in the most informative, structured, and professional way.”