Netmarble’s MARBLEX Secures Whitelist Approval for MBX Token in Japan

Colt Technology Partners With Singapore’s AsiaNextColt Technology Services, an established player in the digital infrastructure sector, has unveiled a strategic partnership with AsiaNext, an emerging name in the crypto exchange domain.News of the collaboration emerged on Thursday, with the partnership designed to harness the strengths of Colt’s secure and high-performance digital infrastructure solutions to foster high-frequency trading of various digital securities and crypto derivatives on the AsiaNext platform.AsiaNext is a joint venture between Japan’s SBI Digital Asset Holdings and Swiss digital infrastructure firm, SIX Group. The entities behind the venture identified similarities in the regulatory approach taken in Switzerland and Singapore, and for that reason, AsiaNext was developed to grow the business in the city-state.Photo by Julien de Salaberry on UnsplashAccessing Multicast Market DataThe partnership will see AsiaNext leverage Colt’s Multicast Market Data in the Cloud. This service facilitates seamless connectivity between buyers and sellers, bridging the divide between mainstream finance and the secure realm of digital assets trading. The move takes on greater significance against the backdrop of Asia’s rapid ascent in digital asset trading and its central role in shaping global cryptocurrency regulations.AsiaNext has been targeting institutional investors and aims to offer a comprehensive suite of services encompassing listing, trading, and post-trade functions for digital assets. The exchange is attempting to provide institutional investors with a secure platform for trading digital assets, bolstering the crypto derivatives market in the region.Alongside Colt’s Multicast Market Data product, AsiaNext will also benefit from access to Colt’s PrizmNet, which enables low latencies for global delivery of data, software, content, and financial services.Commenting on the deal, Russell Toop, Colt’s Team Lead, Capital Markets Asia, remarked: “Our partnership with AsiaNext demonstrates our firm commitment to capital markets in Asia and across the world, and we’re excited to be part of its journey at the earliest stages as it sets out to bring digital assets to the mainstream.”Yuen Keng Yin, Chief Technology Officer of AsiaNext, echoed the sentiment by highlighting the transformative potential of Colt’s solutions for institutional investors, stating:“Their solutions support our investors in securing their position in this rapidly-growing market, so they can optimize their digital assets trading strategies and open up exciting new opportunities for their clients.”Working towards a full CMS licenseAsiaNext has been making progress within the Singaporean market. In June, the local regulator and central bank, the Monetary Authority of Singapore (MAS), granted the institutional grade exchange regulatory approval in principle.That Capital Markets Services (CMS) license is now on the cusp of full license approval from MAS. Furthermore, the firm is also working towards obtaining a Recognised Market Operator license.These regulatory milestones all feed into AsiaNext’s overall goal, which is to offer a service which can bridge the gap between traditional finance and the digital assets space. In building out that offering, Marek Socha, Head of Corporate Development at SIX Group, said in an interview last year that important partnerships would be established by AsiaNext. No doubt accessing Colt’s service offering with this latest partnership is another step for the firm in reaching its objective.

Malaysian Prime Minister Datuk Seri Anwar Ibrahim has said that Malaysian government agencies and the country’s central bank need to study blockchain and cryptocurrency from a policy perspective so as not to get left behind.Photo by Esmonde Yong on UnsplashConsidering major changesHis comments emerged alongside the news that Anwar had discussed digital finance policy matters with Abu Dhabi government officials and with Changpeng Zhao (CZ), the founder and former CEO of Binance. According to the New Straits Times, an English-language newspaper published in Malaysia, the Malaysian government is homing in on the establishment and adoption of a formal policy relative to digital assets and blockchain.  Anwar confirmed that discussions also related to “digital transformation, data centers and artificial intelligence (AI),” and that the demands that Malaysia now faces require the government to consider major changes. In discussion with local media, Anwar stated: "I proposed several months ago how our agencies, including security, treasury and Bank Negara study how Malaysia can explore this so we aren't left behind. Ensuring that is regulated could safeguard the people's interests and prevent leakages.” Crypto-friendly regulationsAnwar added that a “radical departure from the old ways” would be needed for Malaysia to remain competitive, emphasizing the need for the Southeast Asian country to keep up to speed through the application of crypto-friendly regulations. Addressing the pace of technological change, he stated: “This is an evolution which happens quickly and requires us to be equally fast. We feel that Malaysia should not be left behind while mired in an old financial system.” In moving towards setting out a clear policy relative to digital assets, the Malaysian prime minister is encouraged by his recent dialogue with United Arab Emirates (UAE) government officials. He said that they confirmed that they feel they can forge close cooperation with Malaysia on the matter. Anwar added:“We need to discuss this in detail, leave behind the old business model and give meaning to this digital finance policy.” Taking to the X social media platform, Binance’s CZ described the nature of his discussion with the Malaysian prime minister, stating: “The discussions were not about Binance but about the crypto industry and Malaysia, including regulations, policies, risks, and collaborations between industries and across national borders. Forward!” A pseudonymous crypto investor and programmer, @darren_com_my, responded to CZ’s tweet to explain that the Malaysian government provides support to the digital assets industry via government agencies, but that, on the other hand, it has blacklisted a number of exchanges such as HTX (formerly Huobi) and Binance.  The local regulator has issued licenses to six virtual asset service providers. In recent weeks, Malaysia’s Securities Commission has taken action against global exchange Bybit and crypto app Atomic Wallet, prohibiting them from trading within the jurisdiction due to both companies not having obtained the required licensing.

Hana Securities to Accelerate Security Token Platform DevelopmentHana Securities, the securities arm of South Korean financial holding company Hana Financial Group, said Monday it will build a security token platform starting next month to expand its network and capabilities in digital assets in line with the ever-changing financial landscape.Photo by Shubham Dhage on UnsplashPursuing market dominanceThe company revealed that it will choose an external firm by this month to commission the construction of the platform. It also plans to dominate the market by applying to get the platform approved as an innovative financial service by the end of this year. The Innovative Financial Services system, operated by the Fintech Center Korea, is a system that offers special exemptions from regulation for unique and innovative financial services.This strategic move is poised to position Hana Securities as a pioneering force in offering financial services that circumvent conventional regulations, exemplifying its dedication to fostering innovation and originality.Cultivating collaborative synergiesHana Securities is also pursuing partnerships with digital asset enterprises to work on security token projects and platforms that allow for fractional investment in underlying assets. The firm has already entered into business agreements with key companies such as art gallery Print Bakery, tech solution provider ITCEN, and content distributor DANAL Entertainment to collaborate in various sectors, including art, precious metals like gold and silver, and mobile content.This multifaceted approach not only underscores Hana Securities’ versatility but also its commitment to fusing traditional and modern assets in the realm of security tokens.It will also expand collaboration models with companies running new asset platforms, such as those related to real estate funding for small businesses and digital content distribution.“Companies with various underlying assets are showing high interest in the issuance and distribution markets for security tokens,” said Choi Won-young, Head of Hana Securities’ Digital Division.“Through the enhancement of our business model and rapid platform development, we aim to connect various assets to security token products, supply them to the market, and provide customers with new investment experiences.”