Japan’s FSA Joins Project Guardian of Singapore’s MAS to Explore Digital Asset Applications

Web3 chatting app Beoble launches beta version with 50,000 usersWeb3 social messaging app Beoble has secured over 50,000 users in just one day since the beta version of the app was released on Saturday (KST), according to a post on its official X account. This comes after pre-registration applications closed on Nov. 30, which saw over 100,000 sign-ups.Photo by Andrej Lišakov on UnsplashEmpowering Web3 connectivityBeoble is a Web3-based social messenger platform that employs a decentralized encryption network called the Communication Delivery Graph. It allows users to engage in end-to-end encrypted chatting between their digital wallets and offers a communication toolkit for integrating decentralized applications (dApps). The app currently supports all EVM-compatible blockchains like Ethereum and Polygon and plans to add others like Solana, Aptos and Sui in the future.“Beoble is essentially the first Web3 messaging app with the complete user experience,” said Cho Sung-min, CEO of Beoble.In particular, Beoble has gained attention for having a low barrier to entry due to its user-friendly user interface and experience (UI/UX). Notably, the platform facilitates direct communication between Web3 wallet owners and allows them to conduct non-fungible token (NFT) and peer-to-peer (P2P) transactions.Incentivizing community engagementThe Beoble team explained that the ongoing beta test will be an opportunity to incorporate user feedback and improve services. It will also be a period during which users can receive rewards based on their chat room engagement.“The more active users are in the community, the higher their rewards. Rewards can be obtained through activities like completing quests, following others, reacting to messages and logging in,” the firm explained. The Beoble rewards system distributes “cat points” to users based on their participation and contribution to the ecosystem, which are then used to determine their eligibility for rewards like token airdrops.Beoble also previously raised $2 million in pre-seed funding, backed by investors like Digital Currency Group, HashKey Capital and Genesis Blockchain Ventures. The platform’s public launch is scheduled for Q1 2024.

Pakistan’s Ministry of Finance has signed off on the establishment of the Pakistan Digital Assets Authority (PDAA), a body which will be responsible for the implementation of regulations governing blockchain and the digital assets sector. In a report published by Pakistani English-language newspaper Dawn, the media outlet outlined that the Ministry of Finance has taken this step in an effort to embrace future innovation in the finance sector.  The new agency will be responsible for monitoring the operations of digital wallet service providers, stablecoin issuers, the development firms behind decentralized finance (DeFi) protocols, crypto custodians and crypto exchange platforms. Photo by Hamid Roshaan on UnsplashFrom crypto ban to crypto regulationIn October 2022, Pakistan was removed by the Financial Action Task Force (FATF), a global money laundering and terrorist financing watchdog, from its grey list. The following year, Pakistan’s Minister of State for Finance and Revenue, Aisha Ghaus Pasha outlined that banning cryptocurrency was a condition of the country’s removal from the FATF grey list. Accordingly, the South Asian country proceeded to ban digital assets, with Ghaus Pasha declaring that crypto would “never be legalized in Pakistan.”Despite the adverse position taken previously by the authorities in Pakistan where digital assets were concerned, in 2024 a survey carried out by Chainalysis revealed that Pakistan featured strongly in terms of retail-level crypto adoption. With this latest development, Pakistan is moving forward progressively with digital assets, albeit that it is doing so while being cognizant of the current requirements demanded by FATF related to crypto. The newly-formed PDAA will act to ensure FATF-compliant innovation, while striving for economic inclusion and the adoption of digital assets in a responsible manner. Regulating to lead crypto innovation rather than catching upPakistan’s current Minister for Finance and Revenue, Muhammad Aurangzeb, said that “Pakistan must regulate not just to catch up — but to lead.” He added that through the establishment of the PDAA, a digital assets regulatory framework that protects consumers will be created. Furthermore, he claimed that such an approach would attract global investment, putting Pakistan “at the forefront of financial innovation.”Another area of focus for the PDAA will be the facilitation of the tokenization of government debt and national assets. Pakistan runs an annual average electricity surplus of 4,000 megawatts. In 2024, total electricity generation was recorded at 92,091 GWh while demand weighed in at 68,559 GWh. With that, the Pakistani authorities want the PDAA to create the correct conditions that will lead to regulated Bitcoin mining operators utilizing this energy resource. Other objectives which have been set out for the new agency include encouraging the growth of startups aimed at building blockchain-based solutions at scale, the regulation of what is estimated to be a $25 billion informal crypto market and the provision of legal clarity within the crypto sector in Pakistan for both local and international investors. This latest positive development follows the formation of the Pakistan Crypto Council (PCC) back in February. That event signaled a policy shift in Pakistan with regard to digital assets. In March PCC CEO Bilal bin Saqib said that Pakistan was done sitting on the sidelines and that the authorities now want to see Pakistan develop as a “leader in blockchain-powered finance.”

Metabora Singapore Launches Global Pre-Registration for PvP Gaming Platform ‘Skill Blitz’Metabora Singapore, a subsidiary of South Korean blockchain game developer Metabora, announced today that it has begun the global pre-registration of Skill Blitz (formerly known as Borabattle), a gaming platform that enables players to engage in player-versus-player (PvP) battles.Photo by Hans-Peter Gauster on UnsplashAvailable on various app storesSkill Blitz is developed by Neptune Company, a game affiliate of South Korean tech giant Kakao. The platform allows early sign-ups from all over the world except for South Korea, China, and Singapore. Those who wish to participate can register through the Google Play Store, the Galaxy Store, and the Apple App Store.In-game item giveawayAt the time of Skill Blitz’s official release, Metabora Singapore will run a promotional event that offers in-game items and exclusive profile pictures.Trade in-game items with cryptoSkill Blitz is a joint project initiated by key governance council members of the Bora blockchain, namely Neptune Company, Kakao Games, Mobirix, and Metabora. This platform enables players to engage in friendly competition across a variety of casual games, including solitaire, bingo, and puzzles. Furthermore, gamers can visit the Bora Portal to trade their in-game items for virtual assets such as BORA, MATIC, and USDC.In this collaborative initiative, Neptune will take charge of Skill Blitz’s development and service, while Kakao Games will provide support for service operations. Metabora will be responsible for overseeing the app’s blockchain infrastructure, and Mobirix will provide its own content to the app and utilize its user base to drive global marketing efforts for the application.