BlackRock Investment Marks its Return to India

Binance to Incubate Startups, Provide Blockchain Education in Incheon CityBinance, the world’s largest cryptocurrency exchange by trading volume, intends to educate students on blockchain technology and foster startups in Incheon, according to Korean blockchain media Decenter.Photo by Hon Kim on UnsplashBinance’s planOn Tuesday, at the 2023 Incheon Metanomics event, Leon Sing Foong, the Head of Asia-Pacific Operations at Binance, emphasized the strategic advantages of Incheon’s location near the nation’s capital and its prestigious universities, which make it an ideal hub for attracting top talent. Binance has plans to offer blockchain education to college students, as well as incubation services for startups in Incheon. Additionally, the prominent cryptocurrency exchange intends to provide guidance to blockchain projects and generate public interest in the field.Effective communicationFoong also emphasized the importance of effective communication between cryptocurrency companies and government entities. He suggested that clear and consistent crypto regulations would enable international companies to secure large-scale funding, while unrestricted capital inflow would facilitate efficiency and innovation within the industry. Foong also noted that attracting capital to the Incheon Free Economic Zone (IFEZ) requires a predictable and stable regulatory environment. To achieve these goals, Foong proposed that companies and governments engage in constructive dialogue on regulatory matters.Incheon’s five-year initiativeMeanwhile, Incheon has allocated 13.3 billion KRW (equivalent to $10 million) for a five-year urban blockchain initiative that will run until 2026, as per Incheon City’s press release. Since last year, the city has been conducting pilot programs utilizing blockchain technology for public parking and recycling systems.During the conference, IFEZ Commissioner Kim Jin-yong said, “We are dedicated to offering support and constructing infrastructure to attract enterprises to the IFEZ, enabling them to drive innovation in high-tech industries.”Mayor Yoo Jeong-bok of Incheon City highlighted the city’s aspirations to become a forward-thinking city and a major hub for blockchain technology. He emphasized Incheon’s commitment to fostering collaboration among various sectors to create a diverse range of exceptional services and innovative business models.

AsiaNext, a Singapore-based institutional digital asset trading venue, has officially rolled out its cryptocurrency derivatives trading platform.Photo by Kirill Petropavlov on UnsplashWintermute and B2C2 collaborationsThe launch involves notable trading members such as Wintermute and London-headquartered liquidity provider B2C2. B2C2 is a subsidiary company of Japanese financial services conglomerate SBI Holdings. SBI acquired the company in August of last year with B2C2 expressing the view that the acquisition would represent an opportunity for the company to broaden its client base. SBI partnered with Swiss financial infrastructure firm Six Group in a joint venture to establish AsiaNext back in 2020 with a view towards driving institutional digital asset liquidity. Meanwhile, Wintermute’s involvement with AsiaNext in this instance follows its move in 2023 to expand its Singapore base, where it conducts its derivatives business. In November, Wintermute Asia conducted its first-ever options block trade through the CME Group, one of the world’s leading derivatives marketplaces. Wintermute's Founder & CEO, Evgeny Gaevoy, highlighted the significance of the partnership with AsiaNext in the context of traditional financial institutions seeking alternative exposure to digital assets. Gaevoy stated: "Partnering with AsiaNext enables us to elevate our derivatives offering, positioning Wintermute in the foreground of the expanding digital asset ecosystem." The AsiaNext platform asserts that it provides enhanced risk management with reduced counterparty and settlement risk. Additionally, AsiaNext offers capital efficiencies through intraday margining and settlement processes, supporting high-frequency trading and ensuring availability 24/7 for crypto derivatives trading. Chong Kok Kee, CEO of AsiaNext, emphasized the platform's commitment to providing a secure environment for institutional investors to explore digital assets in the region. By prioritizing regulation and rigorous governance, AsiaNext aims to establish itself as a trusted venue for exposure to digital assets. B2C2 CEO Thomas Restout commented on the positive nature of the collaboration. He stated:”We’ve witnessed [AsiaNext’s] unwavering commitment to governance and risk management, alongside their focus on aligning closely with our needs. This instills a high level of confidence in our partnership. Being at the forefront of digital asset adoption, we are pleased to provide liquidity on the venue through our collaboration.” Licensing approvalsIt's worth noting that AsiaNext obtained a Recognized Market Operator (RMO) license from the Monetary Authority of Singapore (MAS) in September. However, this license specifically pertains to tokenized securities, and as such, the crypto derivatives trading operates through a separate subsidiary. In June the company had acquired in-principle approval for a Capital Markets Services (CMS) license. On the digital securities front, SIX Digital Exchange (SDX) and Osaka Digital Exchange (ODX), operated by SIX and SBI respectively, play key roles in secondary markets, showcasing the partners' commitment to advancing regulated digital securities markets. Launched in late 2021, SDX was the world's first regulated digital securities market. SBI followed suit with the recent launch of ODX on Christmas Day. The anticipated approval of the first U.S. spot bitcoin ETFs adds a timely dimension to the launch, potentially driving increased demand for hedging strategies in the market. 

Wemade Unveils Blockchain-Powered Platform for Various CommunitiesSouth Korean gaming company Wemade today unveiled their latest creation, Wepublic, a blockchain-powered platform for various communities. The objective of Wepublic is to establish a transparent and trustworthy digital society on the WEMIX3.0 Mainnet.Photo by Pixabay on PexelsFrom political parties to NGOsInitially built as a fundraising platform, Wepublic caters to entities of any scale or domain, be it political parties, religious groups, or non-profit organizations. Wepublic is committed to transforming itself into a platform for everyone.By leveraging blockchain, Wepublic ensures that all information and records stored on the platform are transparent, making them immune to counterfeiting and diversion. Furthermore, Wepublic is dedicated to fostering inclusivity and democratic decision-making. Every member within a group on Wepublic has the ability to engage in organizational activities and contribute to fair decision-making processes.Four proof protocolsIn the near future, Wepublic will introduce the “Wepublic Wallet,” enabling users to create or participate in decentralized autonomous organizations (DAOs). To ensure transparency and reliability of DAO operations, Wepublic relies on four proof protocols. These protocols serve to verify user identities, credentials, account balances, and the outcomes of governance processes.The first protocol utilizes decentralized identifiers (DIDs) to safeguard personal information, prioritizing user privacy and security. The second protocol employs soulbound tokens (SBTs) to effectively manage groups within the platform. The third protocol provides visibility into account balances and transaction records, adding an additional layer of transparency. Lastly, the fourth protocol ensures the transparent recording of all governance processes on the blockchain, promoting accountability and trust.