Japanese Banking Giant Joins Tech Firms to Build Cross-Chain Stablecoin Infrastructure

Reports from South Korea indicate that the nation is considering transforming its temporary crypto investigative unit into a permanent fixture to tackle the escalating cases of crimes and fraud related to cryptocurrencies. Government deliberations to elevate investigative unitAccording to local publication Segye Ilbo, the South Korean Justice Ministry and the Ministry of the Interior and Safety are gearing up to commence discussions in early May regarding the elevation of the Joint Virtual Asset Crime Investigation Unit to an official department.Photo by Daniel Bernard on UnsplashAims of the promotionThe proposed elevation seeks to formalize the status of the unit, which currently operates as a temporary body under the Seoul Southern District Prosecutor’s Office and faces the possibility of disbandment. The transition aims to enhance operational efficiency by facilitating the appointment of new prosecutors and allocating dedicated budgetary resources, as outlined by Segye. Background of the investigative unitEstablished in July 2023, the unit comprises approximately 30 experts drawn from seven financial and tax regulatory authorities. It represents South Korea's inaugural investigative body specializing in digital asset crimes, a response to the surge in crypto-related criminal activities witnessed in the country. Rising incidents of crypto-related crimesThe urgency to establish a permanent investigative unit stems from the notable increase in crypto-related criminal incidents. According to a February report from South Korea’s Financial Intelligence Unit, local crypto firms reported a total of 16,076 suspicious transactions in 2023, reflecting a significant 49% surge compared to the previous year. Upcoming crypto regulationsIn tandem with efforts to strengthen investigative capabilities, South Korea is preparing to implement its first comprehensive crypto regulation on July 19. The new regulatory framework aims to safeguard investors by imposing stricter penalties for market manipulation, including the possibility of life sentences in certain cases. 

Blockchain Firm NEOPLY Rebrands as Neowiz Partners to Focus on InvestmentNeowiz Holdings, a South Korean investment holding company, announced today that its blockchain subsidiary NEOPLY held an extraordinary general meeting of shareholders and rebranded itself as Neowiz Partners, according to local news outlet News1. Upon this name change, the company will participate as a liquidity provider in the industry through strategic partnerships with investment firms such as venture capital firms and private equity funds.Photo by Precondo CA on UnsplashAbu Dhabi’s supportEarlier, it was revealed that Neowiz Partners became a part of the Innovation Programme offered by the Abu Dhabi Investment Office (ADIO) in the United Arab Emirates (UAE). This program offers incentives to various businesses operating in high-growth areas like financial services and technology.Diverse portfolioUnder its new name, Neowiz Partners aims to build a diverse portfolio of investments in promising companies committed to emerging technologies such as artificial intelligence (AI) and robotics. This strategic move is intended to foster future growth and seize the potential offered by these innovative sectors.Neowiz Partners’ global headquarters, known as H-Lab, located in the Abu Dhabi Global Market (ADGM), will oversee investment and management related to its blockchain businesses. Meanwhile, the operations of these blockchain projects will continue to be managed by NEOPIN, a subsidiary of H-Lab and a CeDeFi protocol that operates as a one-stop solution for those seeking a non-custodial wallet.Earlier reports highlighted NEOPIN’s achievement in launching Korea’s first liquid staking products for ETH. This approach enables users to deposit their cryptocurrencies into a staking pool and receive liquidity provider tokens in return. These tokens can then be deposited again to generate additional yields.On the occasion of this renaming, Neowiz Partners will establish itself as a dedicated investment company, while H-Lab will concentrate on serving the blockchain industry and associated ventures.

As Solana (SOL) gains institutional momentum through new investment products and major platform integrations, the blockchain is also becoming a target for sophisticated phishing scams in South Korea.Photo by GuerrillaBuzz on UnsplashFake websites and impersonatorsAccording to a recent Etoday report, attackers have been impersonating the Solana Foundation and Superteam Korea, a developer community within the Solana ecosystem. Using fake group chats on messaging platforms like KakaoTalk and Telegram, the scammers deploy official branding and fabricated partnership announcements to appear legitimate. Victims are lured with promises of five SOL tokens for creating wallets on fraudulent websites mimicking Solflare, a widely used Solana wallet. Users are then instructed to stake their tokens in exchange for daily yield, enabling the scammers to access their funds. The schemes have become more advanced, with perpetrators using names and photos of Superteam Korea members and generating fake wallet interfaces that display fabricated token balances. When victims attempt to withdraw funds, they are removed from chats, blocked from further communication and left with inactive websites as evidence is wiped. The Solana Foundation and Superteam Korea have issued public warnings, stating they do not solicit investments through messaging platforms or request payments to specific accounts. They have noted an increase in phishing sophistication and advised users to be cautious of unsolicited offers, particularly those that promise guaranteed returns. Solana adoption gains momentumThese scams stand in contrast to Solana’s recent growth. The Rex-Osprey Solana + Staking ETF, launched in the U.S., recorded $12 million in inflows and $33.6 million in trading volume on its first day. It is the first U.S.-listed ETF to offer SOL exposure with staking rewards available directly through brokerage accounts. Additionally, PancakeSwap’s V3 liquidity pool went live on Solana, offering up to 84% of trading fees to liquidity providers and enabling swaps starting at 0.01%.Amid these developments, Bitwise Chief Investment Officer Matt Hougan and Head of Research Ryan Rasmussen expressed cautious optimism about Solana, predicting it could set new all-time highs this year, though likely with more difficulty than Bitcoin. They pointed to rising interest in stablecoins, ETF approvals and the emergence of treasury firms focused on SOL and Ethereum (ETH) as key factors that could support long-term value. The pair also reaffirmed Bitwise’s $200,000 price target for Bitcoin, citing sustained institutional demand.