UAE Royal Office to Visit South Korea Next Month for Web3 Ventures

TransFi, renowned for its global payment solutions, is collaborating with Coinbase Wallet to streamline the process of purchasing cryptocurrencies, with a particular focus on enhancing user experience in Asia.Photo by Traxer on UnsplashFacilitating seamless onboardingBy integrating with Coinbase Wallet, TransFi aims to simplify the onboarding process for businesses and individuals, ultimately fostering greater adoption of cryptocurrencies in the region. This strategic integration is designed to eliminate barriers to entry and make cryptocurrency transactions more efficient and accessible. Enhanced payment options across AsiaIn a significant move, users in the Philippines, Vietnam and Indonesia now have access to expanded payment options through Coinbase Wallet. In the Philippines, GCash and PayMaya, popular digital payment platforms, have been integrated, while Vietnam sees the addition of Viet QR, Momo and Viettel Pay. Indonesian users can utilize OVO and Dana, leading payment apps in the country. These partnerships leverage existing, widely-used payment infrastructures to provide users with more convenient avenues for purchasing cryptocurrencies. The expansion into the Asian market reflects the growing demand for cryptocurrencies in the region and highlights Coinbase's commitment to broadening its reach by collaborating with local payment services. This trend underscores the increasing integration between crypto platforms and local payment solutions, signaling a positive trajectory for cryptocurrency adoption across Asia. 

Oasys and XPLA to Host Hackathon Promoting Blockchain InteroperabilityOasys, a Japanese blockchain gaming platform, has teamed up with XPLA, a blockchain project led by Com2uS, a major Korean gaming company, to hold a hackathon focused on blockchain interoperability. The event, named “Beyond Boundaries,” aims to foster innovative ideas that enhance the seamless connection between different blockchain networks.Photo by Fotis Fotopoulos on UnsplashGlobal participation and prizesAs the importance of interoperability between blockchain networks is growing, Oasys and XPLA have joined hands to host this hackathon. Participants from around the world are invited to compete for a total prize pool of $60,000, with both Oasys and XPLA contributing $30,000 each to reward outstanding solutions.Three areas of blockchain interoperabilityThe event will encourage programmers to address three key aspects of blockchain interoperability. Participants can submit proposals for connecting layer 1 nodes through cross-chain protocols, creating plugin programs to bring games and NFTs to the blockchain, and introducing novel ideas to improve the user experience during the KYC verification process.The hackathon will begin on August 18, with the kickoff event and submissions opening on the same day. Participants will have until August 27 to submit their proposals. The finalist announcement is set for August 29, leading up to the highly anticipated Demo Day on September 3, which will take place at Dreamplus Gangnam, a co-working space for startups, in Seoul.The judging criteria for the competition will focus on the compatibility of the proposed solutions with blockchain technology, creativity, business feasibility, and the progress made in development.Last year, Com2uS became an Oasys validator and has revealed plans to deploy their flagship title, “Summoners War: Chronicles,” as a blockchain game on the Oasys platform.Com2uS has been demonstrating its commitment to the blockchain gaming sector. Recently, the Korean game developer’s venture capital arm, CRIT Ventures, made an investment in blockchain game developer Puzzle Monsters, which gained popularity through AFK MMORPG Idle Ninja Online and action role-playing survival game Ninja Survivors Online.

3AC Founder Secures Restraining Order in SingaporeSu Zhu, the Co-Founder of the defunct crypto hedge fund Three Arrows Capital (3AC) has successfully obtained a restraining order against BitMEX Co-Founder and former CEO, Arthur Hayes, in a Singaporean court.Photo by Monstera on PexelsNo communication “by any means”Crypto publication CoinDesk stated on Wednesday that it had seen a copy of the court order, which was originally issued on May 5. According to the details of the order, Hayes is prohibited from “making any threatening, abusive or insulting communication that would cause the Applicant harassment, alarm or distress.”Additionally, the former CEO of crypto trading platform BitMEX is forbidden from using “threatening, abusive or insulting words” in relation to Su Zhu. The order, which was issued by Judge Sandra Looi Ai Lin, clarifies that the BitMEX Co-Founder is not permitted to publish “any identity information” relative to Zhu or to communicate with him “by any means.”$6 million owedIt’s an understatement to say that Zhu, alongside fellow 3AC founder Kyle Davies, are not on Hayes’ list of favorite people in recent times. Following the 3AC collapse, Hayes has maintained that he is owed $6 million by the duo. Since the collapse of the hedge fund, Hayes has been tweeting out at the pair, calling them out relative to his claim that the duo have a debt obligation to him to the tune of $6 million.While both Hayes and Zhu have blemishes on their records, Hayes is much better regarded within the crypto community than Zhu. The BitMEX Co-Founder narrowly avoided a prison sentence in 2022 with the much lesser sanction of six months home detention being applied. That arose due to federal charges brought against him on the basis that he didn’t implement anti money laundering (AML) compliance procedures and checks at BitMEX while he was CEO of the firm.Despite this failure, Hayes remains popular within the crypto space, with his insightful commentary being lauded given that since he left BitMEX he has taken to writing blog articles relative to crypto and the broader economic situation. However, blog site Medium has taken to disabling access to his most recent blog article. The blog page states that the post “is under investigation or was found in violation of the Medium Rules.”Lacking a welcomeIn contrast with Hayes, commentary relative to the 3AC duo of Zhu and Davies has lacked warmth. Neither of the duo had jumped on social media for a number of months following the collapse of 3AC. More recently they have both tried to rehabilitate themselves, with many commentators within the space seeing it as a cynical move.In February the duo launched Open Exchange, more commonly known as OPNX, a trading platform for crypto-related bankruptcy claims. At that time, Hayes tweeted out that he interpreted the news as the return of the crypto bull market.Earlier this month, OPNX claimed that it had the backing of several credible entities in the crypto space. However, immediately afterwards, a number of those firms clarified that they had nothing to do with the startup.Meanwhile, crypto-focused venture capital investor Michael Arrington tweeted out his disdain in relation to the 3AC founder’s successful fund raise:“Three f***ing arrows dip****s successfully raising a new fund is the saddest bulls**t I’ve heard in a long time.”The regulator in Dubai has also failed to roll out the red carpet for the duo’s new venture. In April, it issued an investor alert in relation to OPNX. Subsequently, it has followed up with a formal written reprimand issued to Zhu and Davies, given that the business is not registered with the regulator although operating out of Dubai.