Korea Investment and Securities Completes the Construction of Security Token Infrastructure

Disagreement has emerged within the Bitcoin blockchain community, revolving around the BRC-20 token standard. Domo, the pseudonymous developer behind the creation of the token standard, has publicly expressed his opposition to an upcoming upgrade proposed by the Hong Kong headquartered project, UniSat Wallet.Photo by Kanchanara on UnsplashDue diligence concernsOn Tuesday Domo took to the X social media platform (previously Twitter) to articulate his concerns. He voiced apprehensions about hastily implementing updates in BRC-20, asserting that such a rush could potentially harm the broader BRC-20 user community. Domo's resistance is rooted in his belief that UniSat Wallet's proposed updates lack due diligence and are being introduced precipitously without considering potential repercussions. He wrote:”Recognizing the serious implications and valuations involved, I believe rushing these updates in BRC20 is reckless, disregards their peer indexers, and could potentially harm the broader community of BRC20 users.” ‘Split’ rather than ‘fork’Conversely, UniSat Wallet has declared its intention to “follow the Ordinals Jubilee upgrade, to confirm that BRC-20 is still on Ordinals without splitting into an isolated protocol." Described as a "split" rather than a "fork," UniSat Wallet's approach adapts to the Ordinals Jubilee upgrade, a transformative change in how the Bitcoin blockchain manages tokenized assets. In mapping the way forward its proposing to take, UniSat outlined that it would publish a whitepaper on Jan. 31, describing it as “the most significant present we are able to deliver” for BRC-20, Ordinals and Bitcoin. The crux of the matter lies in the method and pace of implementing these changes. Domo's concerns reflect a broader sentiment within the crypto community, where the rapid pace of advancements often collides with the need for stability and thorough vetting. UniSat Wallet's proposed changes, though innovative, may be viewed as potentially destabilizing by certain community members, especially those deeply entrenched in the current BRC-20 standard. Striking a balanceThis development is pivotal, highlighting the dynamic and occasionally contentious nature of blockchain technology and cryptocurrency standards. Web3 project incubator and investor TrustlessLabs summed up the matter in a social media post on Wednesday, drawing the following conclusions:”This situation encapsulates a critical challenge in blockchain protocol development: finding the right balance between preserving stability and embracing technological advancements.” As technology evolves, divergent opinions on the trajectory of these advancements are inevitable. The ongoing debate between Domo and UniSat Wallet serves as a microcosm of the larger conversations transpiring in the crypto space about how to strike the right balance between progress and stability. The BRC-20 token standard, an experimental fungible token standard on Bitcoin, draws inspiration from Ethereum's ERC-20 standard. It allows the creation of fungible tokens using Bitcoin’s Ordinals protocol, constituting a significant breakthrough in cryptocurrency by enabling novel forms of tokenization on the Bitcoin blockchain. This disagreement not only spotlights a critical debate in the crypto realm but also emphasizes the delicate equilibrium between innovation and stability.  

Asian stocks related to the digital assets sector recorded hefty gains on March 3, in what was a reaction to a social media post published by U.S. President Donald Trump on Sunday.Photo by Markus Winkler on UnsplashCrypto Strategic ReserveThe U.S. president took to Truth Social, a social media platform owned by Trump Media & Technology Group, to state that “A U.S. Crypto Reserve will elevate this critical industry after years of corrupt attacks by the Biden administration.” Trump added that an Executive Order (EO) that he had issued recently was related to digital assets, directing a recently-formed Presidential Working Group to move forward on the development of a Crypto Strategic Reserve. Trump went on to outline that this reserve would include crypto assets such as XRP, Solana (SOL) and Cardano (ADA).  The post fueled double-digit percentage increases for all three assets. However, it also had an impact on specific stocks listed on Asian markets. Shares in Metaplanet, Japan’s first and as yet only Bitcoin treasury company, closed 21% higher in Tokyo on Monday. The stock surged from its previous trading day close of 3,310 yen to close at 4,010 on Monday. Shares of Japan's Metaplanet closed up 21.15% on Monday, surging to 4,010 yen from the previous close of 3,310 yen within the first hour of trading upon opening. The company also announced on Monday that it had acquired an additional 156 BTC ($13.4 million) to expand its total holdings to 2,391 BTC. Potential U.S. listing for MetaplanetThe company had some developments of its own that may have contributed to the rise in the Metaplanet share price. In a statement published by the company on March 3, it announced that it had purchased an additional 156 Bitcoin. The latest tranche of Bitcoin was purchased at an average price of $85,890. This brings the company’s overall Bitcoin holding to 2,391 Bitcoin. Metaplanet CEO Simon Gerovich posted on X that Metaplanet is “considering the best way to make Metaplanet shares more accessible to investors around the world.” Gerovich made that comment in the context of having explained that the firm was formally invited by the New York Stock Exchange (NYSE) and the Nasdaq to visit so that they could introduce their platforms.   While the Metaplanet CEO is not confirming a U.S. stock listing for the company, it appears that it is something that the firm is considering. Boyaa stock price riseBoyaa Interactive, a Chinese online gaming company that is also the largest publicly listed holder of Bitcoin in Asia, also saw its stock surge on Monday. The company’s stock, which is listed on the Hong Kong Stock Exchange, rose 23%, closing at HK$4.17. The company confirmed that over the weekend, it added an additional 100 Bitcoin to its treasury, bringing its overall Bitcoin holding to 3,350 BTC. Beijing-headquartered OKG Tech, a blockchain technology firm, also experienced a surge in its Hong Kong-listed stock, which rose by over 42% on Monday. Ki Young Ju, CEO of Seoul-headquartered on-chain analytics firm CryptoQuant, warned on X that the crypto market “is increasingly becoming a weapon of the United States.” He added that “coins serving U.S. national interests are likely to work against every country except the United States.”

NEOPIN works with Japan’s Jasmy to develop RWA-based DeFi productsSingapore-headquartered centralized decentralized finance (CeDeFi) protocol NEOPIN has formed a strategic partnership with Jasmy, a Japanese developer specializing in blockchain-based Internet of Things (IoT) platforms. This collaboration represents a step in their joint effort to expand into the global blockchain market, with a particular emphasis on data assetization.Founded in 2016, Jasmy has a management team in which most have a background with tech conglomerate Sony. In contrast to the dominance of tech giants like Google, Apple, Meta and Amazon over data, Jasmy concentrates on achieving data democratization. This concept empowers individuals to have control over their own data. The growing Japanese firm is convinced that the integration of IoT and blockchain technology is the key to realizing this vision of data democracy.Notably, Jasmy has its native token called JasmyCoin. As a regulated virtual asset in Japan, it is listed on centralized exchanges like Binance, Coinbase, Kraken and KuCoin.Photo by Shubham Dhage on UnsplashReal-world assets and security tokensThrough this partnership, the two will explore joint business ventures involving real-world assets (RWAs) and security tokens. They plan to utilize their combined business networks to expand their ecosystems beyond Korea, Japan and the Middle East. NEOPIN will introduce DeFi products using its native token, NPT, and JasmyCoin. Additionally, NEOPIN will become a validator on Jasmy’s mainnet to support its growth.Their collaboration is poised to boost NEOPIN’s advancement into the Japanese market. NEOPIN has been actively pursuing expansion into Japan since its announcement in August. With the Japanese government advocating for Web3 initiatives, a rise in the creation of tokens from local projects is anticipated, leading to a growing demand for DeFi and wallet services.NEOPIN’s partnerships in JapanAs Japan’s digital asset landscape evolves, NEOPIN is actively working to increase its market share in the country. This effort includes a variety of strategies such as focusing on gaming, developing their mainnet, engaging in local marketing activities and launching DeFi products. NEOPIN has also previously announced partnerships with other entities in the Web3 space, including SBINFT, Lena Network and Rokubunnoni, as part of its broader strategy to strengthen its presence in the Japanese market.NEOPIN’s CEO, Ethan Kim, highlighted the company’s goal to lead in the global RWA market. In partnership with Jasmy, they aim to develop and showcase DeFi products related to RWAs and security tokens. NEOPIN is also committed to strengthening its position in Japan by providing Japanese language support this year and actively forming alliances with promising Japanese blockchain enterprises.Hiroshi Harada, CFO of Jasmy, acknowledged NEOPIN’s proven expertise in the Korean market and expressed enthusiasm about the collaboration between the two companies in the blockchain sector. Harada said that their joint efforts will focus on building networks, developing use cases and expanding the market.