Cheongju City Targets Cryptocurrency to Recoup Unpaid Taxes

Galaxia Moneytree Forms Aviation Asset Tokenization ConsortiumKorean financial platform services provider Galaxia Moneytree announced that it has signed a memorandum of understanding (MOU) to establish a consortium for the development of a security token offering (STO) platform that issues tokenized aviation assets — the first of its kind in the country. Shinhan Securities, Eugene Investment and Securities, VMIC Aviation, and Cirium have signed on as members.Photo by John McArthur on Unsplash“This consortium will be a significant step in our endeavors to become a leading entity for innovation in the field of the tokenization of aviation assets. Our agreement will promote the advancement of the Korean aviation industry and enhance global competitiveness, providing investors with new opportunities through alternative investments,” said Shin Dong-hoon, CEO of Galaxia Moneytree.Shaping the future of aviationThe consortium aims to issue security tokens for leasing core aviation equipment such as aircraft engines, which would secure private funding and ease the burden that is imparted by leasing fees. Also, given that the most important aspect of STOs is asset valuation, the consortium has committed to issuing reliable aviation token securities to investors based on the accurate valuation of aircraft engines as determined by Cirium. Cirium is a global aviation data analytics company with 114 years of experience that provides solutions such as the valuation of aircrafts and engines, risk analytics for carbon emission reduction, and flight schedule changes.Galaxia Moneytree said that the consortium recently applied for a financial regulatory sandbox — a program introduced by the Korean government that offers special and provisional regulatory exemptions for financial services that have been recognized for their innovativeness.Partners with varying attributesGalaxia Moneytree will be responsible for overseeing the consortium as well as developing and operating the STO platform, which Shinhan Securities and Eugene Investment and Securities have agreed to provide funding for. The two securities firms will also provide management services for related trusts and accounts.Meanwhile, VMIC will take over asset management for aircraft engines and contribute various insights based on its expertise in aviation finance. VMIC Aviation is a Korean startup that specializes in innovative aircraft engine technologies by leveraging its technical and financial expertise.Discussions are also underway for cooperation with relevant government agencies such as the Ministry of Land, Infrastructure and Transport and the Korea Civil Aviation Association.The company has been working with its partner companies and communicating with government entities to tokenize a wide range of assets, from certified emissions reductions to renewable energy and horse racing. It is also taking the initiative to position itself as an industry leader by investing in joint ventures.

Ret Games Teams Up with Binance to Support Blockchain Acceleration ProgramKorean Web3 gaming studio Ret Games said Tuesday it has signed a memorandum of understanding (MOU) with Binance, the world’s largest crypto exchange, to support a blockchain company acceleration program spearheaded by Incheon Technopark’s Blockchain Center.Bolstering blockchain startupsThe two firms will team up as a single operator of the accelerator program that will supply Incheon-based startups and small companies with the resources required to grow their blockchain businesses and establish Incheon, a city next to the nation’s capital of Seoul, as a blockchain hub. They will also be joined by a third member of the operator — on-chain risk rating solution developer Undefined Labs.Photo by Shubham’s Web3 on Unsplash“We plan to work with Binance to operate an efficient and innovative acceleration program for Incheon-based startups, fostering their growth and development,” said Kim Sung-yoon, CEO of Ret Games.Binance will provide global networking and business consultations in areas such as business modeling and blockchain technology development, while Ret Games will contribute its blockchain infrastructure and development. Additionally, Undefined Labs will provide comprehensive insights into the blockchain industry, covering technology, market trends, and use cases.Five companies for the acceleration program were chosen by Incheon Technopark — AO2, Bemuse, enterBlock, Swan Electronics, and Asia Auto Pacific. They will begin receiving support worth 20 million KRW (approximately $15,000) starting this month.The operator will be required to monitor the progress of these companies during the course of the program, which will end on November 30.Second operatorThere will also be another operator for the program besides the consortium, which solely consists of venture capital firm Nanuhm Angels. It will enable participants to test their business models by granting them access to Rotonda’s launchpad. Rotonda is a subsidiary of the Korean crypto exchange Bithumb and operates the Web3 Burrito Wallet.

Token Cat Limited, a Nasdaq-listed Chinese automotive marketplace formerly known as TuanChe Limited, has approved a new digital asset investment policy that will allow the company to deploy up to $1 billion into cryptocurrencies as part of its treasury strategy. In a press release distributed via Chainwire, the Beijing-headquartered company said its board of directors signed off on a Crypto Asset Investment Policy authorizing the use of a portion of its cash reserves to acquire selected tokens under internal risk-management controls. Any purchased assets will be held with third-party custodians rather than managed in-house, the company said.Photo by Precondo CA on UnsplashThe initial allocation will focus on tokens tied to newer projects in areas such as artificial intelligence, RAW-to-chain infrastructure, and token–equity hybrid models. Further deployments will be evaluated over time and will remain subject to additional board approval, according to the statement. The policy will be implemented under the oversight of Sav Persico, who was recently appointed chief operating officer. Token Cat said he brings decades of experience in technology and blockchain-related businesses and emphasized that the initiative reflects a long-term approach to digital assets rather than a speculative trade. China’s regulation and softer DAT inflowsToken Cat’s decision comes even as China’s central bank continues to stress that crypto-related business activity remains off-limits domestically. According to Reuters, the People’s Bank of China (PBOC) recently reiterated that services involving virtual assets constitute “illegal financial activities” and highlighted that cryptocurrencies do not have the legal status of fiat currency. The statement was issued against the backdrop of what the central bank characterized as a renewed pickup in speculative crypto trading and broader concerns about financial risks. Beyond China, Token Cat’s move fits into a wider trend of companies experimenting with so-called digital asset treasuries (DATs), in which companies commit varying portions of their balance sheets to crypto. Those strategies, however, have seen softer momentum in recent months. Cointelegraph, citing data from DefiLlama, reported that DATs drew about $1.32 billion in fresh capital in November, the lowest monthly intake of 2024. Bitcoin-focused DATs accounted for the bulk of that activity with roughly $1.06 billion of inflows, while Ethereum-based DATs saw about $37 million in outflows. Bitwise chief investment officer Matt Hougan said on X that DATs have generally moved in tandem over the past six months, but he expects that pattern to change as investors begin to differentiate between firms with clearly articulated strategies and those without. He said a limited number of DATs could emerge with more resilient valuations, while others may continue to trade at persistent discounts. Biotech Sonnet advances HYPE-token planDespite the recent slowdown in inflows, new corporate efforts to gain exposure to digital assets continue. One example is Sonnet BioTherapeutics Holdings, a North Carolina–based biotechnology company developing immuno-oncology drugs. On Dec. 2, Sonnet said its shareholders had approved a proposed business combination with Hyperliquid Strategies Inc. (HSI) and Rorschach I LLC. That vote followed an agreement reached in July for Sonnet to merge with Rorschach to form Hyperliquid Strategies, a new entity expected to hold roughly 12.6 million HYPE tokens valued at about $583 million, along with at least $305 million in cash, for a projected combined value of $888 million. Hyperliquid is a decentralized exchange (DEX) built on its own layer-1 blockchain. Its native token, HYPE, has a total supply of one billion and is used for network governance, staking, and smart contract functions on HyperEVM, the platform’s EVM-compatible environment. Sonnet’s move, together with Token Cat’s newly adopted investment policy, adds to a steady stream of corporate initiatives testing the role of digital assets in balance-sheet management. With companies ranging from biotech firms to automotive marketplaces exploring similar strategies, the coming months will show whether crypto holdings can establish themselves as durable components of corporate treasuries.