Planetarium Labs’ blockchain MMORPG Nine Chronicles M launches worldwide

SBI Digital Asset Holdings (SBI DAH) has unveiled a new joint venture with Chiliz, geared towards introducing soccer club fan tokens to Japan.  Bringing a fan engagement token offering to JapanThese tokens, operating under the Socios fan engagement brand, encompass soccer clubs such as Arsenal, AC Milan, Manchester City, FC Barcelona, Inter Milan and Paris Saint-Germain. Both companies outlined to The Block in a joint statement that the purpose of the joint venture is to provide local sports fans in Japan with access to tokens associated with these high profile soccer clubs.Photo by Konstantin Evdokimov on UnsplashAlongside this collaboration, SBI DAH intends to establish a node on the Chiliz Chain. Notably, over 2 million users have already engaged with the Socios fan tokens, signifying a burgeoning interest in this space. Rather than depend upon non-fungible tokens Chiliz relies upon fan tokens, representing a distinct category. They're fungible, akin to tracking stocks, facilitating fan engagement through voting, competitions, VIP experiences, merchandise and exclusive offers.  In Japan, private investors traditionally exhibit more active engagement with companies, often receiving incentives such as discount coupons, gift cards, points and memberships. While fan tokens don't confer ownership rights in the clubs, they offer similar avenues for engagement.  Fernando Luis Vázquez Cao, CEO of SBI DAH, highlighted the importance of technology in enhancing community experiences, expressing enthusiasm for collaborating with industry leaders like Chiliz to introduce novel experiences to the Japanese audience. Vázquez Cao stated:”The partnership between SBI DAH and Chiliz will bring together the best-in-class capabilities of both traditional finance and Web3, leveraging fintech innovations to transform the sports and entertainment experiences for communities.” The recent transition of the Chiliz blockchain from a Proof of Authority (PoA) to a Proof of Staked Authority (PoSA) version marks a significant step forward, attracting node operators like Paris Saint Germain and enhancing the network's capabilities. PoSA is a hybrid consensus algorithm that enables faster block times and reduced transaction costs. Additional partnershipsIn addition to its collaboration with Chiliz, SBI DAH boasts a diverse portfolio of blockchain interests, spanning initiatives such as AsiaNext, SBI Digital Markets and crypto custodian Zodia Custody. Many crypto projects have partnered with the company as a means to gain access to the Japanese market. One of the most recent examples is its partnership with USDC stablecoin issuer Circle.  The objective of that partnership has been to expand the circulation of stablecoins in Japan, but particularly USDC. Moreover, SBI DAH has made strategic investments in prominent players like Swiss digital asset bank Sygnum, Blockdaemon and the Tangem wallet. SBI Holdings, the parent company of SBI DAH, similarly maintains an extensive involvement in blockchain investments and activities.  In tackling the Japanese market, Chiliz will have to contend with a local competitor in the form of FiNANCiE. It has emerged to fill a similar role, fostering relationships with domestic sports teams, including J-League soccer clubs. By contrast,  Chiliz has provided broader international exposure. International competitors include Sorare and Dapper Labs, which concentrate on NFTs.

In a significant move to propel Thailand towards becoming a digital asset hub, the Finance Ministry has announced the exemption of value-added tax (VAT) on digital asset trading. VAT exemptionAccording to the Bangkok Post, the decision became effective on Jan. 1. It aims to foster the growth of the digital asset industry and support the country's growing digital economy. Paopoom Rojanasakul, secretary to the finance minister, underscored the ministry's commitment to promoting digital assets as a viable fundraising tool. By suspending the requirement to pay 7% VAT on income derived from cryptocurrency and digital token trading, authorities seek to encourage investment in the digital asset market. This VAT exemption extends beyond authorized digital asset exchanges to include brokers and dealers under the supervision of the Securities and Exchange Commission (SEC). The move aligns with Thailand's ambition to position itself as the region's premier digital asset hub. Moreover, the Finance Ministry and SEC are actively amending the 2019 Securities and Exchange Act to enhance regulations concerning digital investment tokens, bringing them more in line with securities.Photo by Markus Winkler on UnsplashAttracting offshore digital asset sector investmentThailand's attractiveness to offshore digital asset investors has grown substantially in recent years. The new tax policies are poised to further bolster the country's position in the global digital asset market. Last month, the Thai SEC adjusted the rules governing digital token investments, raising the investment ceiling that had been imposed on retail investors where initial coin offerings (ICOs) relative to infrastructure and real estate are concerned. Furthermore, the Commission has updated criteria for custodial wallet provider businesses, enabling them to extend their services to digital asset business operators, thereby facilitating smoother operations within the digital asset ecosystem. However, Mr. Paopoom emphasized the importance of balancing development with financial stability. While fostering innovation in the digital asset sector, the government remains mindful of safeguarding the integrity of the financial system. Despite these advancements, the SEC has made it clear that it will not permit the trading of spot bitcoin exchange-traded funds (ETFs) in Thailand. This decision contrasts with the recent approval of bitcoin ETFs in the United States and moves towards approving crypto ETFs in Hong Kong, reflecting Thailand's cautious approach to cryptocurrency-related financial products. Nevertheless, Thailand continues to attract global crypto exchanges, with industry giants such as Binance establishing a presence in the country. Last month, Binance announced the launch of crypto exchange services to the general public in Thailand through Gulf Binance, a joint venture with Thailand’s Gulf Innova. The VAT exemption on digital asset trading represents a pivotal step in Thailand's journey towards embracing the digital economy. With supportive regulatory measures and a dynamic market environment, Thailand aims to take its place as a leading player in digital assets.   

amana, a Dubai-based neo-broker, has announced that it is adding another 300 cryptocurrencies to its app. 450 crypto assetsA neo-broker is an online-based digital investment service provider that leverages technology and online tools to make investing and trading more accessible to the broader investing and trading public. The firm announced the product expansion via a press release published on its behalf by GlobeNewswire on March 17. Prior to the announcement, amana had offered its service users access to 150 cryptocurrencies. Expanding the range to a total of 450 cryptocurrencies makes it the leading broker in the Middle East and North Africa (MENA) region in terms of the breadth of digital assets it has made accessible to users.Photo by Christoph Schulz on UnsplashAll-in-one service offeringThe company described the offering as “unmatched,” allowing amana to firmly position itself as the go-to platform where the seamless trading of both traditional and digital assets is concerned. amana believes that its offering fills a gap in the market. Most platforms, it claims, either cater to the digital assets market or the traditional finance market. The platform sees itself as an all-in-one solution, making it unnecessary for investors and traders to create multiple accounts. Speaking to that gap in the market that the company wants to exploit, amana CEO Muhammad Rasoul stated: “We’re making it easier than ever for our customers to trade digital assets alongside stocks, forex, and commodities—all in one place, with zero hassle.” The firm added that the expansion isn’t just about offering a greater selection of digital assets. The announcement said that “it’s about seamless access, competitive pricing, and a frictionless trading experience.” The company described the amana app as “intuitive,” with the ability to empower both seasoned traders and new investors through the ease of trading within a few taps. Alongside the 450 digital assets, the platform provides users with access to U.S. stocks, FX, commodities, gold and global exchange-traded funds (ETFs). amana also facilitates users to trade using leverage and to avail of automated investment plans. Futures products and contracts for difference (CFDs) complete the product offering lineup. Having first launched in September 2022, the platform claimed recently that it has over 320,000 users accessing the service. Besides Dubai, amana has offices in London, Limassol and Beirut. The company is not the first online broker to bridge the gap between traditional finance and digital assets. American commission-free trading platform Robinhood has made in-roads into crypto. The company has plans to roll out its crypto offerings to the Singapore market later this year.  UK-based neobank Revolut has expanded into the world of investing, including crypto as part of that offering. It emerged last year that the firm has plans to launch a stablecoin. flatexDEGIRO, a European online broker that offers stocks, bonds and exchange-traded funds (ETFs), outlined last November that it plans to extend its product offering to include cryptocurrencies.