Further Trials Required Before Determination of eHKD Launch Date

Nibiru Chain, a layer-1 blockchain and smart contract ecosystem, is venturing into the Asian market with key appointments poised to drive growth in gaming, DeFi, NFTs and real-world assets (RWAs). Crypto sector expertiseYura Nam and Nicholas Lo have been appointed to lead growth and business development efforts in the region. Seoul, South Korea-based Nam is a former Head of StarkNet Asia. She has extensive experience hosting conferences, meetups and other events. The crypto sector professional has been an active member of the Korean blockchain community Nonce, a distributed network of independent businesses and individuals dedicated to blockchain. Lo previously served as Asia Pacific (APAC) Growth Manager at Yuga Labs, the creator of the Bored Apes Yacht Club NFTs.  Based in Hong Kong, he brings with him a diverse background, having worked as an analyst at JPMorgan and spearheaded Asia expansion for various exchanges. He has a wealth of expertise and insight into the Asian Web3 landscape.  Jonathan Chang, Nibiru Chain's COO, expressed excitement about the new additions to the team, highlighting their deep understanding of the Asian markets and Web3 ecosystem. He emphasized their role in fortifying Nibiru's foothold in the region, particularly through their proven track record in relationship building and execution of growth strategies.Photo by Shubham Dhage on UnsplashMultifaceted expansion strategyThe expansion strategy is multifaceted, incorporating marketing, community engagement and business development initiatives to establish a strong local presence and drive adoption. Nibiru's focus extends to key markets such as Korea, Japan, India, Southeast Asia (SEA) and Chinese-speaking countries. Plans include hiring local community leads and nurturing relationships with regional stakeholders and businesses. Nicholas Lo will concentrate on solidifying Nibiru's presence in pivotal APAC markets. His role at Nibiru involves cultivating relationships with major protocols, ecosystem dApps, gaming entities, financial institutions and local partners. Lo will also collaborate with Asian media outlets to enhance exposure for Nibiru's layer-1 offerings, targeting verticals spanning gaming, DeFi, NFTs and RWAs. Meanwhile Yura Nam will leverage her partnership and event planning experience to bolster the platform's expansion efforts. Her seven years in the financial services sector equip her with a nuanced understanding of partnerships, sponsorships and event management within Asia, serving to strengthen Nibiru's ties in the region. VC FundingThe company's ambitious growth plans received a significant boost with a successful $12 million funding round earlier this year, attracting investments from prominent venture capital firms such as Kraken Ventures, ArkStream, NGC Ventures, Master Ventures, Tribe Capital and Banter Capital. This funding follows a previous seed round in April 2023, which raised $8.5 million, valuing the project at $100 million at the time. In a further effort to bootstrap growth in April, the project announced $15 million in developer grants to incentivize ecosystem growth. $5 million of that is being ring-fenced for the Asian region. Silicon Valley-headquartered Nibiru Chain officially unveiled its public mainnet in March. With a focus on a robust smart contract ecosystem offering high throughput and top-tier security, the project aspires to position itself as the preferred platform for builders in several blockchain sectors, particularly blockchain-based gaming. At the time of writing, the project’s native NIBI token was trading at $0.2932, according to data from crypto project data aggregator CoinMarketCap.

In an official announcement on Wednesday (KST), CeDeFi protocol NEOPIN revealed that it has signed a business agreement with Web3 consulting firm Catalyze Research and metaverse and AI tech company Futureverse to expand the global blockchain industry and discover promising Web3 projects. Strategic allianceThrough this business agreement, the three enterprises plan on working towards two main objectives: expanding the global blockchain business industry and Futureverse’s open metaverse ecosystem. To do so, they have vowed to onboard NEOPIN’s gaming business partners to the Futureverse ecosystem and create decentralized finance (DeFi) products for NEOPIN based on The Root Network. They will also host hackathons and joint campaigns in efforts to incubate and accelerate Web3 projects in South Korea. “South Korea is an intellectual property (IP) and blockchain powerhouse that serves as the backbone of the open metaverse that Futureverse is striving for. We look forward to bringing together various IPs such as games and content – including DeFi collaborations – with Futureverse’s powerful infrastructure to bring us one step closer to the open metaverse,” said Ben Ko, Co-Founder and CEO of Catalyze Research. Based in Seoul, Catalyze Research offers insights into the Web3 industry as well as consulting services like mapping and implementation of business strategies, marketing, research, due diligence and more.Photo by Shubham's Web3 on Unsplash“By working with NEOPIN, a leading DeFi company with an extensive network in South Korea, we will expand the Futureverse and The Root Network ecosystems and create an environment where users and developers can create an open metaverse together. This partnership will bring Futureverse to the forefront of the South Korean blockchain industry with NEOPIN and Catalyze’s experience, expertise, vision and insights into the Korean market,” added Futureverse CEO Aaron McDonald. Redefining gaming, blockchain and DeFiFutureverse is a developer of AI and metaverse technologies that elevate gaming experiences and enable open, scalable and interoperable applications. It is also home to one of the largest global NFT-based metaverse communities, which is being expanded through the layer 1 blockchain The Root Network. The company’s partners include globally renowned brands like FIFA, Warner Bros., Mastercard and Reebok. NEOPIN, on the other hand, has been a trustworthy node validator for multiple blockchains since 2018 with a 0% accident and slashing rate and a 99.99999% block generation rate. It has also been bringing new faces to the industry by securing, investing in and incubating numerous domestic and foreign firms. Backed by this experience, NEOPIN plans to introduce innovative DeFi products through the newest three-way partnership. “We will actively help various game and content service companies that have partnered with us to operate in the Futureverse ecosystem. Based on our trustworthiness and stability, we will contribute to leading the decentralized exchange (DEX) and DeFi services in Futureverse,” said Kim Yong-ki, CEO of NEOPIN.

Nomura Subsidiary Launches Bitcoin Adoption FundNomura, Japan’s largest investment bank and brokerage group boasting over $500 billion in assets, has ventured further into the world of digital assets by unveiling its Bitcoin Adoption Fund through its digital asset subsidiary, Laser Digital Asset Management.The move signifies a further commitment from the Japanese financial services conglomerate in embracing digital innovation within the financial sector. The fund will cater specifically to institutional investors looking to explore the expanding area of digital assets.Photo by Kanchanara on UnsplashEnabling long-term Bitcoin exposureLaser Digital Asset Management is introducing the Bitcoin Adoption Fund as the first installment in a series of digital adoption investment solutions crafted with institutional investors in mind. The firm announced details of the new fund via a press release published to its website on Tuesday.The primary objective of this fund is to provide institutional investors with a long-term avenue for exposure to Bitcoin, enabling them to partake in the potential gains offered by the world’s most well-known digital asset.Sebastian Guglietta, Head of Laser Digital Asset Management, underscored Bitcoin’s pivotal role in ushering in a transformative global economic shift and posits that long-term exposure to Bitcoin is the ideal means for investors to harness this profound macroeconomic trend.“Technology is a key driver of global economic growth and is transforming a large part of the economy from analogue to digital,” Guglietta said. “Bitcoin is one of the enablers of this long-lasting transformational change and long-term exposure to Bitcoin offers a solution to investors to capture this macro trend,” he added.Komainu partnershipIn bringing the fund to market, Laser Digital has partnered with digital asset custodian Komainu. Komainu was founded in 2018 as a collaborative endeavor between Nomura, Ledger, and CoinShares.Nomura’s foray into digital assets is by no means a newfound interest. As early as September 2022, the firm had initiated its digital asset venture capital arm, positioning itself at the vanguard of digital innovation. In addition to this, Laser Digital secured a trading license from Dubai’s Virtual Asset Regulatory Authority (VARA) to operate within the United Arab Emirates (UAE).Nomura’s launch of the Bitcoin Adoption Fund is in perfect alignment with the broader trend of heightened institutional interest in Bitcoin-centric investment products. Regulatory bodies globally have granted approval for a range of Bitcoin-focused investment products in recent years, including Bitcoin-based futures exchange-traded funds (ETFs). These developments underscore the growing acceptance of cryptocurrencies within traditional finance circles.Laser Digital was founded by Nomura executives Steven Ashley and Jez Mohideen. Ashley previously led Nomura’s wholesale division while Mohideen was Nomura’s Chief Digital Officer and Co-Head of Global Markets for the EMEA region. The firm has invested in Singapore-based DeFi startup, Solv Protocol.It has registered as a mutual fund via the Cayman Islands Regulatory Authority, while the company has registered for product marketing purposes in Ireland, Luxembourg, and the UK.