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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.

NEAR Foundation and Dongdaemun District of Seoul Forge MOU to Boost Web3 IndustryThe NEAR Foundation, the organization behind blockchain network NEAR Protocol, announced today its memorandum of understanding (MOU) agreement with Dongdaemun District of Seoul, the South Korean capital, to promote the Web3 industry.Photo by Farrel Nobel on UnsplashMutual support and growthIn this collaborative partnership, both parties aim to establish a framework that fosters mutual support, growth, and development. Their joint efforts will encompass initiatives such as streamlining administrative processes, introducing tax benefits, implementing talent incubation programs, and creating communication channels to ensure a seamless workflow.One-stop administrative hubProjects entering the NEAR ecosystem will have access to a convenient one-stop administrative hub responsible for regulatory approvals. They will also benefit from local tax exemptions for a specific period and receive a dedicated workspace for project operation and development. These supportive measures are anticipated to play a significant role in facilitating their entry into the Web3 sector.NEAR Protocol stands out as a layer-1 blockchain that lowers the barriers to Web3 adoption. This is achieved through its FastAuth feature, which enables users to effortlessly create accounts for any website or application that integrates with the Blockchain Operating System (BOS). BOS is a solution that enables developers to build on any blockchain using familiar programming languages.Business and job opportunitiesLee Pil-hyeong, Head of Dongdaemun District, expressed his enthusiasm for the partnership with the NEAR Foundation, highlighting its potential to offer innovative business opportunities to the younger generation in the district. He emphasized Dongdaemun’s commitment to consistently creating jobs and delivering job support programs.Use cases in public-private sectorsMarieke Flament, CEO of the NEAR Foundation, shared a similar sentiment, expressing her excitement about the chance to nurture the Web3 industry in South Korea, a country renowned for its world-class talent pool. She outlined NEAR’s plans to offer education and support with the goal of cultivating a sustainable ecosystem. Flament believes that NEAR’s collaboration with Dongdaemun will lead to the discovery of valuable use cases in areas where the public and private sectors collaborate.

Several players across Asia and the Middle East have announced expansions into the stablecoin sector, aiming to capitalize on a market projected to double in size within the next two years. A notable example came from Hong Kong-listed OSL Group, which unveiled plans last week to introduce a new U.S. dollar-pegged stablecoin, USDGO. The token is scheduled to launch in the first quarter of next year with San Francisco-based Anchorage Digital serving as the issuer. According to OSL, the product is designed to comply with the recently passed U.S. GENIUS Act, a legislative framework establishing federal guidelines for stablecoins. The company stated that USDGO will be backed one-to-one by high-quality liquid assets, including U.S. Treasuries, and will undergo third-party audits to meet anti-money laundering (AML) and know-your-customer (KYC) standards. Anchorage Digital, notably the only digital asset company holding a U.S. national trust bank charter, will handle issuance, while OSL Group will manage branding and distribution. In Hong Kong, distribution is restricted exclusively to OSL Digital Securities Limited. The token will deploy first on the Solana blockchain, with expansion to other networks planned for the future.Photo by engin akyurt on UnsplashInfrastructure expansion in TaiwanTaiwan has also seen movement in the stablecoin space, with blockchain infrastructure firm OwlTing announcing its integration into the Circle Payments Network (CPN). The move allows the firm’s digital wallet, OwlPay Wallet Pro, to utilize stablecoin routing for cross-border transactions. OwlTing is currently targeting markets with high demand for cross-border payments, including Brazil, Nigeria, and the European Union. The company aims to secure a foothold in a global payments market that FXC Intelligence estimates is currently worth $194 trillion and could reach $320 trillion by 2032. As part of its regulatory footprint, OwlTing disclosed it holds Money Transmitter Licenses in 39 U.S. states, a Virtual Asset Service Provider (VASP) license in Europe, and a Bank API license in Japan. The firm is pursuing further regulatory approval in Hong Kong, Singapore, and Latin America. Adoption in the UAEIn the Middle East, state-owned telecommunications giant e& UAE signed a strategic memorandum of understanding (MoU) with Al Maryah Community Bank, according to Khaleej Times. The agreement focuses on enabling payments via AE Coin, the UAE’s first central bank-licensed, dirham-backed payment token. Ramez Rafeek, General Manager of AED Stablecoin LLC, stated that the initiative aims to create a "regulated, transparent, and instant stablecoin framework" for daily transactions. The collaboration supports the UAE’s broader Digital Economy Strategy, designed to transition the nation toward a cashless society. Stablecoins projected to reach $750BThese regional developments come as the global stablecoin market continues to expand. According to data from RWA.xyz, total stablecoin market capitalization, including major tokens such as USDT and USDC, stands at roughly $300 billion, reflecting a 1.17% increase over the past 30 days.Analysts anticipate continued expansion. In a September research note, Teresa Ho, Head of U.S. Short Duration Strategy at J.P. Morgan, projected the market could reach between $500 billion and $750 billion within the next two years. Other market reports offer more aggressive forecasts, suggesting valuations could top $2 trillion by the end of 2028.