Binance Set For Japanese Market Re-Entry With 34 Token Listings

OCBC Bank Partners With ADDX to Launch Tokenized NoteSingapore’s longest established bank, OCBC Bank, has partnered with blockchain-centric private market investment platform, ADDX, to launch a tokenized equity-linked structured note.Tokenized equity-based productsThe product is significant in that it represents the first tokenized equity-linked structured note that the cornerstone bank has offered. That in itself gives an indication of how conventional finance will mesh with tokenized products as both the conventional finance system and digital assets space evolve over the coming years.An equity-linked note is a debt instrument, normally in the form of a bond. It’s distinct from a standard fixed income security as it’s a market-linked structured product. That means that it performs in sync with a particular equity stock, a basket of equity stocks or with an equity index.ADDX CEO Oi-Yee Choo elaborated on the product offering: “Structured products are designed to provide investors with unique risk and return characteristics that may not be available through traditional investments, and are an attractive option for investors weighing yield-generating options in the current economic climate.”Photo by Shubham Dhage on UnsplashLeveraging tokenizationBy leveraging tokenization, the ADDX platform realizes cost savings, cutting out counterparties from the process. Additionally, tokenization allows fractionalization of assets and financial products, making a product offering accessible to all market participants. In this particular instance, the OCDC/ADDX product is restricted solely to accredited investors.Singapore-based ADDX currently lists in excess of seventy tokenized products on its platform right now. These range from commercial paper, bonds, real estate and equities or equity-based products.On those products it has collaborated with global alternative investment product specialists Investcorp and Hamilton Lane, telecommunications giant Singtel and securities broker CGS-CIMB Securities. Additionally, it has partnered with UOB, Singapore’s third largest bank, and a number of entities owned by state-owned Singaporean investing giant, Temasek.While the conventional finance world has been skeptical of digital assets and the overarching cryptocurrency and blockchain space has had its fair share of setbacks interlaced within its progression, forward-looking TradFi players are conscious of not getting left behind. That’s reflected in the comments of OCBC Bank’s Head of Global Treasury, Kenneth Lai, in relation to the ADDX partnership:”While we already have a comprehensive stable of treasury products which includes sustainability-linked interest rate swaps, cross currency swaps, structured deposits and green bonds, it is important that we continue to innovate and find new channels for our products. We are therefore pleased to be the first Singapore bank to offer an equity-linked structured note in tokenized form on ADDX. It is the first innovation resulting from a longer-term partnership with ADDX, and we are hopeful that it will lead to more diverse product offerings that are relevant and appealing to the global accredited investor base of ADDX.”Further comments by Choo suggest that the two firms have plans to broaden the partnership to encompass a greater range of products. She referred to more structured products being in the pipeline as the duo seek to exploit their combined expertise and capabilities.As it stands today, just $0.3 trillion in global assets are currently tokenized. That number is expected to grow to $16 trillion within seven years.

Korea ST Exchange has committed to conducting a demonstrative experiment involving security tokens to help advance the domestic agriculture and livestock industry along with six other companies, including Korea Venture Agriculture Association, Maeil Business Agtech Innovation Center, MAM TECH, XR Touch, Jangbogo Asset and Crowdy. Representatives from all seven firms participated in an agreement signing ceremony held at the Maekyung Media Center on Thursday, according to local news site Financial News.Photo by Dan Meyers on Unsplash"Smart farms are an industry in South Korea with great potential for growth that is gaining a  competitive edge in the global market," said Cho Won-dong, CEO of Korea ST Trading. "With this agreement, our council plans to strengthen the smart farm security tokens ecosystem to increase the profits of domestic agricultural producers and strengthen global competitiveness." Fostering agricultural innovationThe experiment aims to promote the innovative trading system of smart farms for the development of the agriculture and livestock industry and discover stable underlying assets that will serve as a bridge for integration with innovative finance such as digital assets and security tokens. With this agreement, the parties will cooperate on issuing and distributing tokenized real assets, commodity tokens and security tokens, building infrastructure to support and encourage the trading of security tokens, exchanging information and sharing collaborative networks to build each participating firm’s business. They also plan to issue security tokens in the form of investment contract securities that attribute profits and losses according to the results of joint business ventures by creating a device to tokenize contracts for harvesting agricultural products. Korea ST Trading’s comprehensive roleBased on the platform, Korea ST Trading will provide support for all services such as security token distribution, trading, management, dividends, liquidation and investment information to help expand the smart farm ecosystem and attract private investments.

Wemade’s NILE Launches NFT Tickets for Game Exhibition G-STAR 2023NFT Is Life Evolution (NILE), a decentralized autonomous organization (DAO) and NFT platform built on the WEMIX3.0 network of South Korean blockchain gaming publisher Wemade, is starting the sale of its NFT tickets at noon (local time) on October 25 for the upcoming global game exhibition, G-STAR 2023. The highly-anticipated event is scheduled to take place at the Busan Exhibition and Convention Center (BEXCO) in the southern port city from November 16 to 19.Photo by Pete Linforth on PixabayNFTs as admission ticketsJointly prepared by Wemade and G-STAR, these NFT tickets are called Real World Event NFTs, functioning as admission tickets and vouchers for special merchandise. One noteworthy feature is that they undergo changes in appearance upon use, a characteristic inherent to dynamic NFTs.The sale of these NFT tickets begins on NILE’s marketplace at noon (local time) on October 25. Those interested can utilize WEMIX dollars (WEMIX$) via the WEMIX Wallet to purchase a daily NFT ticket for their chosen day of attendance at the event.Game enthusiasts will also have the chance to witness Wemade’s latest games at BEXCO. The Korean game company mentioned that it has reserved a significant space at the exhibition hall to showcase two of its newest games: the MMORPG “Legend of YMIR” and the sports game “Fantastic4 Baseball.”WEMIX and Chainalysis partnershipAlong with its gaming and NFT endeavors, Wemade has been taking steps to fortify the security of its ecosystems. On the day of the NFT sale kickoff, the WEMIX Foundation, a subsidiary of Wemade, announced its strategic partnership with Chainalysis, a blockchain data analytics company. This collaboration will bolster the security of storage and transactions of assets within Wemade’s omnichain network. The network is being developed through a project known as “unagi,” which stands for the Unbound Networking and Accelerating Growth Initiative.Established in 2014, Chainalysis has worked with government agencies, cryptocurrency exchanges, financial institutions, insurance companies, and cybersecurity firms in over 70 countries. They offer services to safeguard customers and combat virtual asset-related crimes.Through this partnership, the WEMIX Foundation seeks to operate a comprehensive risk and compliance program via Chainalysis’ data platform. This will help minimize potential risks associated with illicit activities like money laundering while maintaining a smooth user experience.The foundation will also engage with Chainalysis’ Crypto Incident Response service, enabling immediate tracking and recovery of assets if hacked or stolen.Regarding this development, the WEMIX Foundation underlined that its alliance with Chainalysis will enhance the transparency and reliability of both the WEMIX3.0 mainnet and the unagi omnichain ecosystem.