SK C&C to Spearhead Establishment of Korea’s First Alternative Trading System

Grab Turns to Web3 With Crypto Wallet IntegrationGrab, the Singapore-headquartered Asian ride-hailing firm with a user base of 180 million people, is integrating a crypto wallet into its platform.That’s according to Chinese crypto reporter Colin Wu. Wu tweeted out news of the development on Thursday, including screenshots which he had obtained that provide further detail relative to Grab’s Web3 wallet.Often dubbed the “Uber of Southeast Asia,” Grab’s foray into Web3 technology could reshape how the region engages with cryptocurrencies. This move, initially available in Singapore, aligns with the city-state’s reputation as a fintech leader and developing crypto hub, suggesting it may serve as a testing ground for Grab’s crypto integration.Photo by Afif Ramdhasuma on UnsplashPolygon wallet integrationOne pivotal aspect of this integration is Grab’s support for the Polygon wallet, a layer-2 scaling solution for Ethereum. Known for its speed and low transaction fees, Polygon aids Grab’s venture into crypto, as these characteristics feed into its practicality for everyday crypto transactions. This strategic choice aims to make cryptocurrencies more accessible and usable for the masses.Venturing beyond paymentsIt seems like Grab’s ambitions extend beyond basic cryptocurrency payments. It is also setting the stage for users to explore non-fungible tokens (NFTs) and blockchain technology. The company has provided guidance content for wallets and NFTs which would suggest that Grab’s vision goes beyond mere transactions and that it sees the potential for NFTs in terms of transforming digital ownership and other such use cases.The Web3 wallet stands out in terms of user experience. Unlike traditional crypto wallets that are reliant on private keys, Grab employs a PIN password system. This simplifies the crypto experience. This is of particular importance when it comes to trying to find ways to bring Web3 and crypto into everyday use by the mass market.Additionally, Grab introduces an account recovery system based on questions and answers, in an effort to strike a balance between security and convenience.MAS collaborationAs part of the firm’s journey into Web3, it has been collaborating with the Monetary Authority of Singapore (MAS), the city-state’s central bank and financial regulator. Together, they’ve explored digital assets, central bank digital currencies, and innovative payment systems, and it also indicates that the company is working towards including a Web3 offering while remaining in regulatory compliance.According to the company’s Q2, 2023 results, Grab records an average of 34.9 million monthly transactions.By integrating a user-friendly crypto wallet, supporting Polygon, and exploring NFTs, it appears that Grab is aiming to empower its massive user base to participate in the digital asset revolution. With Singapore as the initial launchpad, Grab’s Web3 journey holds the potential to influence how the entire region embraces cryptocurrencies.In simplifying crypto access, supporting innovative technologies like Polygon, and educating users about NFTs and blockchain, the Singaporean firm is paving the way for a more inclusive and decentralized financial future in the region.

BC Card Launches Innovative Card Payment NFT ServiceSouth Korean credit card issuer BC Card announced Wednesday (local time) that it has launched a non-fungible token (NFT) issuance service linked to card payments — the first of its kind in the country — marking a significant step in the financial industry’s adoption of blockchain technology.Photo by rupixen.com on Unsplash“The digital finance market is an area of technology and imagination, and it will continue to grow in various ways,” said BC Card Director Lee Sang-jun. “We are pioneering the industry by introducing payment-linked utility NFT services for the first time.”Revolutionizing the use of NFTsTypically, NFTs are primarily used to prove the uniqueness of digital assets based on their non-replicability, but the card issuer has now integrated them into card payments. This service offers customers proof of payments in the form of NFTs along with various other benefits.BC Card has been preparing for the NFT market to pick up momentum since 2021. After rigorous internal testing, it first developed and opened its own NFT wallet dubbed “NFTbooc” on the private Ethereum network in April last year. Since then, the NFT wallet has been improved to be more user-friendly. Notably, it was integrated into BC Card’s financial platform PayBook in order to provide customers with a more convenient means to check their personal NFT holdings and participate in events.The credit card company also issued limited edition NFTs through NFTbooc to celebrate the 40th anniversary of its foundation last year, making them available for both customers and employees. Even during the ongoing crypto winter, the company has continued efforts to integrate NFTs into customer services by facilitating NFT-based payments and emphasizing their technological value.Boosting customer engagementTo celebrate the launch of the newest service, BC Card is also holding a special event for customers until December 31. Each participant will receive random missions, such as using their card within a specific time slot or at a specific store and engaging in a minimum number of transactions. Those who complete the challenges will be airdropped certificates of completion minted as NFTs after the event is closed with the chance to win cashback rewards of up to 100% of the amount of money that they spent during the challenge.The card issuer plans to hold two additional events, which will be outlined on the PayBook and NFTbooc event pages.The card company has also applied for three NFT-related patents this year, including one for issuing NFT receipts for secondhand transactions and asset certification NFTs that can be used to prove asset details in the event of a system failure at a given financial company.

Despite ongoing fluctuations in the cryptocurrency market, analysts suggest that sustained institutional activity is likely to underpin a near-term rebound. As Bitcoin recovered above $90,000 on Dec. 5, market observers began weighing potential risks against growing evidence of corporate and sovereign adoption.Photo by Austin Hervias on UnsplashStructural risks seen as limitedAccording to South Korean news outlet Etoday, Hong Sung-wook, a researcher at NH Investment & Securities, said that the recent slump in both Bitcoin and Strategy stock may weigh on shareholders but does not fundamentally threaten the company’s solvency. He noted that concerns that typically emerge during Bitcoin downturns seldom reflect new underlying risks. Addressing the potential removal of Strategy from the MSCI index, pending review results expected by Jan. 15, Hong indicated that the impact would likely be limited, as the firm has already exhausted its capacity to make additional Bitcoin purchases. However, he cautioned that prolonged share price weakness could force companies to reevaluate digital asset treasury (DAT) models. Such a shift, he warned, could trigger corporate sell-offs that would burden the broader market. Hong also addressed concerns related to stablecoins and future technology. Despite S&P Global Ratings assigning Tether its lowest grade of "weak," Hong observed that the issuer maintains reserves exceeding the USDT in circulation, rendering a mass withdrawal crisis unlikely. Regarding the threat of quantum computing, he argued that the timeline remains uncertain and that the Bitcoin network could mitigate future risks through consensus-driven protocol upgrades. Policy moves may offer market tailwindsLooking ahead, the analyst identified several constructive developments that could bolster the market, including the potential passage of a U.S. crypto market structure bill early next year. He also pointed to the anticipated nomination of Kevin Hassett as Federal Reserve Chair by President Trump. Hassett is expected to favor interest rate cuts, creating a potentially favorable macro environment. Additionally, Vanguard’s decision to permit the trading of select third-party crypto ETFs and mutual funds was cited as significant, given the asset manager’s historically conservative stance on digital assets. While the market has shifted into a broader risk-off mode, institutional demand for Bitcoin has continued to build, including activity that began well before the recent pullback. The Czech central bank recently established a $1 million test portfolio comprising Bitcoin, a USD stablecoin, and a tokenized deposit to research payment futures, though it clarified that it does not currently plan to add digital assets to its international reserves. In the academic sector, a Form 13F filing with the U.S. SEC revealed that Harvard Management Company, which oversees a $56.9 billion endowment, held 6.8 million shares of BlackRock’s iShares Bitcoin Trust ETF (IBIT) as of Sept. 30, a threefold increase from the previous quarter. Furthermore, BlackRock CEO Larry Fink reportedly stated at the New York Times DealBook Summit 2025 that multiple sovereign wealth funds have begun accumulating Bitcoin, according to Forbes. Korean banks advance crypto integrationThis shift toward institutional acceptance is also materializing within South Korea’s traditionally conservative banking sector. The Maeil Business Newspaper reported that Woori Bank recently became the first major South Korean lender to display real-time Bitcoin prices on its trading floor, allowing dealers to track the asset alongside equities and foreign exchange rates. Concurrently, Hana Financial Group announced a partnership with Dunamu, the operator of the Upbit exchange, to develop blockchain-based remittance services, according to The Korea Economic Daily. By leveraging Hana’s global network and Dunamu’s technology, the initiative aims to reduce settlement times and costs for cross-border payments. Hana intends to introduce the technology for transactions between its Korean offices and overseas branches as early as the first quarter of next year, with broader expansion planned as domestic regulations evolve. Hana intends to launch the service at overseas branches as early as the first quarter of next year, with gradual expansion planned as domestic regulations evolve.