Rotonda and Bithumb META to Co-Host Next Block 2023 Conference for Web3 Collaborations

BPMG joins XPLA as validatorSouth Korean blockchain platform developer BPMG has joined South Korean gaming corporation Com2uS Group’s layer 1 blockchain mainnet XPLA as a new node validator, following a partnership deal signed in July agreeing to collaborate on developing Web3 content and technology, according to CoinDesk Korea. As a validator, BPMG will play a crucial role in strengthening transparency, stability and scalability within the XPLA ecosystem.Photo by Shubham’s Web3 on Unsplash“We anticipate that this partnership will not only enhance the XPLA ecosystem’s credibility but also achieve qualitative growth through our collaboration in content and technology,” said Paul Kim, leader of the XPLA team.Competitive gaming and rewardsBPMG operates a Play-to-Earn (P2E) blockchain gaming platform called GemHUB, under which the company recently launched GemPION, a sub-platform dedicated to competitive gaming. GemHUB offers various games, including Number Shoot, Jelly Snake, Find Bird, Push Push Cat and Mayan Cryptex. GemPION allows users to engage in various forms of gaming tournaments and participate in missions to receive rewards.Ecosystem expansionThe two companies also said that they would onboard each other’s games onto their respective platforms. GemPION users will thus be able to participate in gaming leagues using XPLA tokens. “We are delighted to become a validator on XPLA after the previous signing of our content and technology partnership deal. We will work on strengthening our collaboration further by onboarding a variety of XPLA games on GemPION as well,” said Cha Ji-hoon, CEO of BPMG.This comes after Japanese gaming company Gumi recently joined XPLA as a validator as well. XPLA is steadily increasing its number of validators from 50 to 80 this year to build a more robust and trustworthy ecosystem.

Coincheck, a subsidiary of Monex Group, a Tokyo-based global financial services firm, has gained U.S. Securities and Exchange Commission (SEC) approval to become the first Japanese crypto exchange to list on the Nasdaq, an American stock exchange.Photo by Denys Nevozhai on UnsplashSPAC mergerThe approval by the U.S. regulator was filed on Nov. 13. The listing has been enabled due to the company’s decision to enter into a merger with a special purpose acquisition company (SPAC), namely Thunder Bridge Capital Partners (TBCP).  A SPAC raises money through an initial public offering (IPO) to either acquire or merge with an existing company. Opting for a SPAC means that Coincheck can forego a lot of the time and expense that would be necessary if it attempted to effect an IPO on its own. Parent company Monex Group published a statement outlining that Coincheck CEO Yuko Seimei had “been diligently preparing for listing its common stock on the Nasdaq Global Market (“Nasdaq”) through a previously announced business combination with Thunder Bridge Capital Partners.” Possible Nasdaq listing on Dec. 10 In a press release issued by TBCP, the company claimed that the proposed merger is anticipated to close on or about Dec. 10, 2024. That eventuality is subject to stockholder approval, Nasdaq approval and specific closing conditions. Consequently, Coincheck’s Nasdaq listing could potentially happen as early as Dec. 10. TBCP is holding a shareholder vote on the merger on Dec. 5. If all conditions are satisfied to pave the way for listing, the company’s stock will be listed using CNCK as the Nasdaq stock ticker. Once the merger and Nasdaq listing have been accomplished, Coincheck will still remain a subsidiary of Monex Group. The merged business will gain access to $237 million, held in trust by TBCP, with Monex retaining an 82% stake in the company. Furthermore, Thunder Bridge CEO Gary Simanson will lead the new company. The $1.25 billion merger had been in the works since 2022, having faced multiple delays on the path towards merger completion and Nasdaq listing. Coincheck finally filed with the SEC to merge back in May. Parent company Monex has other interests in the digital asset sector beyond its involvement with Coincheck. Last December the company acquired a majority stake in 3iQ Digital Holdings, a Canadian crypto asset management company.Monex has just launched a new brand, Monex Web3, comprising of Monex’s Web3 business portfolio. It also offers a Web3 consulting business, using its local know-how to guide Web3 startups in entering the Japanese market. Coincheck has also engaged in partnerships to assist other firms in gaining access to the Japanese market. Earlier this year the leading Japanese crypto exchange partnered with USD Coin (USDC) stablecoin issuer Circle, in an effort to expand USDC access within the local market. In January 2018 the exchange suffered what was at the time the world’s largest ever digital asset theft, losing $534 million in virtual assets in a hack of the platform.

Alchemy Pay scores second money services license in United StatesAlchemy Pay, the Singaporean crypto-fiat payment services provider, is solidifying its presence in the United States, with the acquisition of a money services license in the state of Iowa.Photo by Austin Goode on UnsplashU.S. licensing driveThis expansion, announced on Thursday, aligns with the company’s strategy to navigate the U.S. regulatory landscape and enhance compliance with local requirements. This recent acquisition follows Alchemy Pay’s earlier achievement of a money transmitter license (MTL) in Arkansas in September. The company has not only completed the application process for MTL licenses in additional U.S. states but also expects responses in the coming months.Under the regulatory framework of Iowa, entities or individuals engaged in currency exchange or money transmission must obtain a money services license. In an interview with Cointelegraph, Alchemy Pay Ecosystem Lead Robert McCracken highlighted the Singaporean company’s commitment to a well-structured regulatory environment. McCraken stated:“We believe that a well-structured regulatory environment is essential for the sustainable growth and development of any industry, and that includes the fiat-crypto payment industry.”Despite the challenges posed by the evolving regulatory landscape in the U.S., McCracken affirmed the company’s dedication to seeking licenses and upholding compliance standards as it expands operations. He described this approach as “more challenging but ultimately correct” for ensuring the long-term success of the crypto payment industry.Global market expansionIn addition to its U.S. endeavors, Alchemy Pay is actively pursuing license applications and market expansion opportunities globally, including in the United Kingdom and Hong Kong. The firm operates in 173 countries already, facilitating transactions through various payment methods, including Visa, Mastercard, regional mobile wallets and domestic transfers.In April, the company secured $10 million in funding from Singaporean venture fund and market maker DWF Labs, with a view towards expanding the business in South Korea. The following month, it enabled a rupee-denominated on-ramp, integrating with India’s UPI real-time payments system. In July, it partnered with well-known payments processor Checkout.com, integrating its Visa and Mastercard channels into its on and off-ramps.ICP collaborationThe collaborations and partnerships keep coming with Alchemy Pay and with that, on Wednesday it announced a strategic partnership with the Internet Computer (ICP) smart contract platform.That collaboration will see the listing of ICP, Internet Computer’s native token, on Alchemy Pay’s fiat on-ramp. This is the latest in a line of collaborations the crypto payments gateway has made with layer one and two blockchain network projects, including Polygon, Avalanche, Algorand and Arbitrum.These latest strategic expansions align with the company’s vision to establish a strong global presence while navigating and contributing to the ongoing evolution of crypto regulatory frameworks. Currently, comprehensive regulations for the entire crypto industry in the U.S. are under consideration by regulators, reflecting the dynamic nature of this rapidly evolving sector.