KLEVA to undergo upgrade and migrate to WEMIX3.0 network

CoinGecko expands data offering through Zash acquisitionCoinGecko, the Malaysian crypto data aggregator, has intensified its focus on the non-fungible token (NFT) market through the recent acquisition of London-headquartered Zash. The move forms part of CoinGecko’s initiative to enhance its API offering by providing comprehensive data on digital collectibles.Photo by Andrey Metelev on UnsplashSolving for crypto data fragmentationIn a statement published to its website on Wednesday, CoinGecko provided further details on its acquisition of the enterprise-grade NFT and blockchain analytics company. Separately CoinGecko Co-Founder Bobby Ong told Tech in Asia that the crypto data sector is fragmented. As a consequence, it leads to inefficiency as market participants are forced to navigate multiple crypto data APIs. It’s in an effort to solve that issue that Ong and CoinGecko have moved to acquire Zash.Zash Co-Founder and CEO Parit Patel expressed optimism about the evolving nature of NFTs and their potential to unlock new use cases globally, creating value for both companies and consumers. The company plans to introduce new services derived from the acquisition by the second quarter of 2024.Enriched data offeringIn its own statement, CoinGecko emphasized its commitment to offering more NFT-related metrics. The acquisition aims to enrich CoinGecko’s data offerings with information such as metadata, historical trades and lending data related to NFTs. The specific financial details of the deal were not disclosed.With the integration of Zash, users can expect access to a broader range of data across multiple blockchain networks, including Ethereum, Polygon, BNB Chain (formerly Binance Smart Chain), Bitcoin Ordinals and Solana. The extended services will cover NFT lending information indexing various marketplaces, such as Blend, X2Y2 and NFTfi.In reflecting on the acquisition, CoinGecko Co-Founder TM Lee considered the move in terms of the ongoing process of asset tokenization. Taking to the X platform, Lee wrote:“Any asset that can be tokenized, will be tokenized. Like tokens, NFT is a core primitive to the crypto economy stack. We’ve been building http://coingecko.com/nft earlier even in the bear market and I’m excited on possibilities within the NFT industry with @zash_api joining us!”Monitoring wash tradingOne notable feature introduced through Zash is the ability for users to monitor wash trading, an illegal form of market manipulation that gives the false impression of market activity. CoinGecko clarified that this feature would be available for “major collections” minted on Ethereum.Wash trading, involving the simultaneous buying and selling of assets, has been associated with the NFT bubble of 2022. Blockchain forensic firm Chainalysis reported that over 100 profitable wash traders collectively earned nearly $9 million from this activity. However, it noted that the majority of NFT wash traders have been unprofitable, resulting in losses exceeding $416,984 from more than 150 wash trades.While the NFT market has faced challenges, with total sales currently at $80.8 million, significantly lower than the peak in August 2021 when daily sales exceeded $2 billion, CoinGecko’s strategic move positions the company to provide users with enhanced tools for assessing and ranking their cryptocurrency holdings. Established in 2014, CoinGecko operates as a platform offering comprehensive data and information on digital currencies, contributing to the quantitative evaluation of cryptocurrency portfolios.

According to a report by Nikkei Asia, Kasikornbank (KBank), Thailand’s second-largest bank, has entered into a partnership with Bangkok-based firm Orbix Technology and Singapore’s StraitsX to roll out a cross-border payments solution based on the use of stablecoins. StraitsX provides payments infrastructure for digital assets in Southeast Asia. It also issues XSGD, XUSD and XIDR, stablecoins that are pegged to the Singapore dollar, the U.S. dollar and the Indonesian Rupiah. Orbix Technology contributes towards the collaboration by providing blockchain infrastructure, in this case, its Quarix blockchain, which was developed to support transactions in both foreign currencies and baht, convert real-world assets into digital tokens and enable real-world identity confirmation of the blockchain user.Photo by Mathew Schwartz on UnsplashProject Carina The groundwork for this latest collaboration was accomplished through a partnership between KBank and American investment bank JPMorgan’s JPM Coin (now known as Kinexys Digital Payments) in April. Known as Project Carina, the collaboration explored wholesale cross-border payments using Q-money, KBank’s digital Thai baht, which runs on Orbix Technology’s Quarix blockchain and forms part of Thailand’s regulatory sandbox. The objective of Project Carina was to effect the transfer of Thai baht, using Q-money, to a U.S. dollar-denominated bank account, via Kinexys Digital Payments. Using that process, a cross-border multi-currency transfer could be effected efficiently in real time. Spending Thai baht in Singapore In part, building upon that earlier project, this latest collaboration, which commenced at the end of November, brings StraitsX into the fold alongside KBank and Orbix. The service targets Thai tourists visiting Singapore, enabling them to spend their Thai baht-based Q-money at retail outlets in Singapore. Thai visitors account for 2.4% of arrivals to the city-state each year. Many retail stores in Singapore now enable the use of payment systems like PayNow, a real-time payment service offered by a group of Singaporean banks; GrabPay, a payments wallet that features as part of the Grab super-app; and Alipay+, another cross-border mobile payments system. StraitsX has collaborated with these payment systems, opening up access to this latest offering led by KBank. In November, StraitsX added access to the GrabPay and Alipay+ systems. Users of the Q-money app can scan the codes generated via these payment systems, enabling the user to pay in Thai baht for the item they are purchasing priced in Singaporean dollars. Effectively, the system enables and exchange and conversion of digital baht for the StraitsX XSGD Singaporean dollar stablecoin. The three companies showcased their blockchain-based cross-border payment innovation at the Singapore FinTech Festival last month. At the time, Orbix Technology Managing Director Yarnvith Raksri stated:”Quarix has played a significant role in driving the Q-money by KBank app and integrating it with the StraitsX system to allow seamless cross-border payments via blockchain, making them as convenient as domestic transactions.” KBank competitor Siam Commercial Bank (SCB), Thailand’s oldest bank, announced in October that it was partnering with fintech firm Lightnet to launch a stablecoin-based remittance service.

Wemade Signs Contracts with Game Developers to Expand WEMIX PLAY’s LineupSouth Korean gaming company Wemade has signed contracts with global game developers to bring three new games to its blockchain gaming platform, WEMIX PLAY.Photo by Riho Kroll on UnsplashThree gamesOne of these developers is Cfire Network, based in Singapore, which is working on a strategic card game called Magic Card Duel. In this game, players collect heroes and build decks of cards to challenge each other in battle.Dubai’s Project SEED is also part of the initiative, preparing to release a fantasy action role-playing game (RPG) called Outland Odyssey in the third quarter of this year.Korean company SpaceProbe is contributing to the lineup with Raid of Legends, a mobile action RPG where players can develop characters to explore dungeons, join raids, and engage in combat against each other.WEMIX PLAY’s expansive reachWEMIX PLAY boasts a user base of 9 million and has already added more than 100 blockchain games to its platform, spanning various genres like massively multiplayer online role-playing games (MMORPGs), shooters, and social network games. The platform’s standout feature is its inter-game economy, allowing players to transfer currencies between different games seamlessly.Wemade’s upcoming showcase of its blockchain gaming vision and WEMIX PLAY’s ecosystem will take place at G-STAR 2023, a global game exhibition happening from November 16 to 19 in Busan, Korea.