HashKey Launches Wealth Management Service Amid High Demand

ADDX Expands to Tap into MENA’s Thriving Private MarketSingapore-based global private market exchange ADDX has revealed plans to extend its blockchain-enabled private market exchange platform into the Gulf Cooperation Council (GCC) and the broader Middle East and North Africa (MENA) regions.In a recent announcement, the company stated that the move aims to bridge the existing financing gap between private enterprises and capital providers, positioning ADDX strategically relative to global financial transformation.Photo by Kyle Glenn on UnsplashExploiting MENA potentialThe MENA region has seen a surge in demand for strategic growth capital, particularly from micro, small, and medium-sized enterprises (MSMEs) and innovative startups. These enterprises are expected to play a pivotal role in driving sustainable economic growth across the region. By introducing its platform, ADDX aims to provide these enterprises with a seamless pathway to access early-stage, high-growth private investment opportunities, blending cutting-edge technology with rigorous compliance standards.ADDX’s primary objective is to catalyze the growth of innovative enterprises that are key to the region’s sustainable economic diversification by facilitating the inflow of capital. This initiative aligns with the region’s focus on cutting-edge sectors such as artificial intelligence, Web3, and sustainable construction practices.Since its establishment in 2017, the platform has secured $140 million in funding from institutions such as the Singapore Exchange and Korea’s KB Financial Group. With its expansion into the MENA market, ADDX aims to act as a conduit for strategic growth capital, enabling pre-IPO companies in the region to access local and global financial resources.Simultaneously, this expansion is expected to open up numerous investment opportunities in thriving Asian enterprises for fund managers based in MENA, further strengthening the economic ties between the Asia-Pacific (APAC) and MENA regions.Danny Toe, CEO of ADDX, shared his vision for the company, saying: “The ability to safely and securely open private markets to capital investment presents tremendous opportunities for governments and regulatory bodies to add to the financial infrastructure of the regions.”Blockchain relevanceManuel Jaeger, ADDX’s Head of Business Development at the firm, expanded on the transformative potential of this move, emphasizing the role of blockchain in revolutionizing private market investing. Jaeger stated:“The rise of blockchain-powered platforms has changed the game and transformed how investors view private market investing. Our next step is to replicate in MENA the approach we have taken in APAC. This involves working closely with financial institutions, regulators and government organizations as well as leaders across the Middle East region to create an open flow of capital across private markets for the long-term benefit of investors, private companies and the global economy.``Tokenization of real-world assets and investment products is expected to be a growing trend over the next few years. That development has not been lost on ADDX. In May, the company collaborated with Singapore’s oldest bank, OCBC Bank, to launch a tokenized equity-linked structured note.The firm has cottoned on to the relevance of crypto in the investing arena, becoming the first financial institution in Singapore in 2022 to recognize crypto assets in reckoning if clients achieve the minimum personal wealth levels to be onboarded as accredited investors.

Acquisition by SBI Subsidiary Part of European ExpansionB2C2, a cryptocurrency liquidity provider catering to institutional clients and a subsidiary company of Japanese financial services conglomerate SBI Holdings, has solidified its foothold in the digital assets market by completing the acquisition of Woorton, a prominent European market maker and over-the-counter (OTC) transaction specialist.Photo by Christian Lue on UnsplashMarket expansionIn a press release published to its website on Thursday, UK-based B2C2 outlined further details relative to the acquisition. The move represents an effort by B2C2 to broaden its client base and expand within the European market, ahead of the forthcoming regulations under the Markets in Crypto-Assets Regulation (MiCA).The acquisition opens doors for B2C2 to extend its services within the European Union (EU) jurisdiction. Additionally, it allows B2C2 to tap into growth opportunities beyond its existing strongholds in the United Kingdom, Asia-Pacific (APAC), and the United States.Licensing accessOne of the prime advantages of this acquisition is B2C2’s access to Woorton’s prestataires de services sur actifs numériques (PSAN) license, which is regulated by the Autorité des Marchés Financiers (AMF), the French financial regulatory authority. This license empowers B2C2 to operate seamlessly within the EU, positioning the company for a strategic advantage in the evolving regulatory landscape.As the UK is no longer part of the EU, this acquisition makes for a much easier entry point for the company into the broader European market.Founded in 2017, Woorton boasts an active clientele of nearly 250 entities engaged in trading 96 different cryptocurrencies. The company distinguishes itself by offering round-the-clock liquidity provision, ensuring uninterrupted trading opportunities for its clients.Woorton’s engagement with regulatory bodies is a key highlight, and the firm is a co-founding member of the Association for the Development of Crypto-Assets (ADAN). Through ADAN, Woorton actively contributes to shaping regulatory frameworks governing digital assets in France, bridging the gap between the industry and policymakers.Additionally, the company played a crucial role in establishing Paris Blockchain Week, an internationally recognized event that brings together thousands of attendees and speakers to discuss blockchain and digital asset trends.Charlie Meraud, CEO of Woorton, expressed excitement about the acquisition, emphasizing the complementary strengths of the two firms. Meraud highlighted the enhanced liquidity pool and improved market presence that the combined platform would offer to customers, ultimately leading to a superior liquidity and trading experience.B2C2’s CEO, Nicola White, described the acquisition as a significant milestone in the company’s growth journey. White expressed enthusiasm about the potential the acquisition unlocks for B2C2 and its EU-based clients, reaffirming the importance of regulatory standing and a robust client base.London baseEstablished in 2015 and primarily owned by SBI, B2C2 operates from its main headquarters in the UK, with operational offices in the US and Japan. Its UK-registered company B2C2 Ltd serves as the parent entity within the B2C2 group of companies.B2C2’s acquisition of Woorton not only enhances its presence within the European Union but also serves to demonstrate its intent in terms of regulatory compliance and industry leadership. This strategic move positions the company to navigate the evolving crypto market, likely leading to greater opportunities for its clients.

Lillius and Crypto.com Team Up for NFT Collaboration and Global MarketingLillius, a Korean artificial intelligence (AI) sports challenge app, has signed a business deal with global crypto trading platform Crypto.com to collaborate on a non-fungible token (NFT) project and global marketing strategies. The two companies will work together to promote Lillius’ platform mainly by issuing and distributing NFT rewards within the app.Elevating fitness with AILillius, set to launch its open beta service this month, is a mobile app where users can participate in exercise challenges that use AI motion detection technology to analyze their form while doing the movements. After they complete a given challenge, they can receive rewards based on the score they earn. Some of these challenges feature lessons from Korean Olympic medalists like taekwondo athlete Lee Dae-hoon, fencer Nam Hyun-hee, and wrestler Jung Ji-hyun.Photo by Huckster on UnsplashTo grow its platform, Lillius has also minted NFT figurines for iconic athletes such as table tennis player Ryu Seung-min, swimmer Park Tae-hwan, and archer Joo Hyun-jung, among others.Unlocking global Web3 sports experiencesUnder the new partnership, Crypto.com will be responsible for leveraging its global infrastructure to support Lillius’ broader global expansion and various marketing endeavors.“Our partnership with Crypto.com will expand access to Web3-based sports experiences for users around the world and serve as an important milestone in advancing our Web3 sports ecosystem,” said Julia Kim, CEO of Lillius. “We plan to enhance Lillius’ global competitiveness and lead the Web3 sports industry.”Crypto.com has consistently been participating in sports-related marketing projects and investing in such businesses as well. In 2021, it signed a naming rights agreement to change the name of the world-renowned sports and entertainment arena, the Staples Center, to Crypto.com Arena. It also became the first virtual asset platform to sponsor the 2022 FIFA Qatar World Cup. Furthermore, the platform has worked with some of the world’s biggest sports associations such as the UFC and Paris Saint-Germain F.C., playing a key role in bridging the gap between blockchain and sports. Its latest business agreement with Lillius comes as part of more concentrated efforts to enter the Korean market.“Through this partnership, we will cultivate the merging of sports and blockchain technology by providing Crypto.com’s 80 million users with a unique sports-related consumer experience,” said Patrick Yoon, CEO of Crypto.com Korea.