Korbit holds an education session on AML for its employees

Rotonda revamps Burrito Wallet with cross-chain swapping, added mainnet and moreRotonda, a subsidiary of South Korean crypto exchange Bithumb, has recently revamped its Web3 wallet Burrito Wallet to make the app more convenient for users, according to Korean news agency Etoday on Wednesday (local time). The newest version features an improved mainnet support system, user interface (UI) and user experience (UX), with a stronger focus on enhancing user convenience and creating a framework for optimal investment.Photo by Shubham’s Web3 on Unsplash“Through this service renewal, we hope that many users will be able to experience a more convenient and unique web3 environment. We will continue to improve our services to establish Burrito Wallet as a user-friendly crypto wallet platform,” the company said.Expanded options for token tradingMost notably, Burrito Wallet now offers cross-chain swapping, which allows users to trade token currencies that have been issued on different mainnets. This is a step up from regular crypto swapping, which only allows the swapping of tokens issued on the same mainnet. Cross-chain swapping between the Ethereum, BNB Smart Chain, Matic, Avalanche and Arbitrum mainnets is now supported by the deSwap Liquidity Network (DLN), a decentralized cross-chain exchange built by deBridge Finance. DLN facilitates secure and unlimited liquidity transfers across chains with zero slippage.Rotonda added that it would continue to expand its lineup of swap platforms through collaborations with major industry names like Kana Labs, WOOFi and Unizen.Better user experienceThe company also added new features to help users make optimal investments. This includes a new notification bot dubbed “Burrito Chef,” which sends notifications for announcements, updates and events within the app. Users can quickly and conveniently check the insights they need to inform their personal investments and get the most out of the app’s services.On the UI front, a “Home” tab has been added, which provides users with a concise overview at of the most commonly used features like wallet, swap and chat, along with the most popular content. Token rankings by category — such as most swapped tokens and most rising tokens — that were previously available on the “Swap” tab have been moved to the “Home” tab and placed in the foreground of the screen. Rotonda also explained that it aims to provide a more customizable experience by adding more detailed chart features.The wallet also now supports the Sui mainnet, bringing the total number of supported mainnets to 12.This development comes shortly after Rotonda recently launched Burrito Wallet in the Latin American region in a move to expand its global user base.

Glohow to promote UtopiaGames’ blockchain-based casino games on global stageUtopiaGames, a game developer based in Seoul, has entered into a partnership with Glohow, a global co-publishing service provider and subsidiary of Kakao Games. As per a report by local news website Etoday, this collaboration is aimed at launching comprehensive marketing efforts for UtopiaGames’ blockchain-based social casino gaming platform, “Vegastopia.”Photo by Michał Parzuchowski on UnsplashGlobal metaverse casino cityThe game company anticipates that Vegastopia will introduce innovative elements to the game development industry, as it is conceptualized as a global metaverse casino city. This 3D online gaming platform is developed to mimic a real-life casino setting, offering players an immersive experience. In Vegastopia, virtual gamers can participate in psychological battles, utilizing tactics like bluffing, just as they would in a physical casino environment.150 countries by H1 2024Vegastopia offers a feature where players can create and manage their own casinos or cardrooms. In these personalized spaces, operators have the autonomy to manage their own point systems. The platform has recently concluded its closed beta testing phase and is now gearing up for a soft launch in select countries, including France, Mexico and Southeast Asian nations. Looking ahead, UtopiaGames plans to launch the service in some 150 countries by the first half of next year.Resolving trust issues with blockchainAn official from UtopiaGames highlighted Glohow’s track record in successfully promoting global game projects from notable gaming firms such as Kakao Games, Sky People, Hidea, Gravity, Wemade, Webzen and Neowiz. With Glohow at the helm of Vegastopia’s marketing, management, customer service and localization efforts, the game’s global presence has notably increased, the person added. The official further pointed out that Vegastopia has garnered significant attention for addressing the issue of trust in online casino games by using blockchain, a key factor in its growing popularity and appeal.UtopiaGames’ latest advancement comes on the heels of equity investments from SU Holdings and BU Technology. These investments totaled KRW 21 billion, equivalent to approximately $16.2 million.

Korean Securities Firms Unite to Build Shared Security Token InfrastructureShinhan Securities, KB Securities, and NH Investment and Securities are gearing up to sign a memorandum of understanding (MOU) later this month to establish a security token consortium, according to South Korean news outlet MoneyToday.Photo by Louie Nicolo Nimor on UnsplashShared infrastructureThe primary objective of this consortium is to create a shared infrastructure for their security token operations. This initiative marks the first instance where the nation’s major securities firms are getting together to set up a security token consortium. Until now, securities companies have typically sought collaborations with banks, fractional investment firms, or blockchain technology companies, showing reluctance to cooperate with their direct competitors over concerns of potential loss of competitiveness.An expert within the securities industry underscored the paramount importance of securing control over the infrastructure, particularly given that the security token market has not materialized. The expert further stated that once a collaborative network is built among the leading securities firms, it is likely to set the standards for the entire market. Meanwhile, the precise details of the plan have not yet been finalized.Challenges in prior initiativesSince the South Korean Financial Services Commission revealed the security token guidelines in February, the securities sector has been deliberating the creation of a shared network that would be accessible to all industry participants. This kind of system is considered ideal as it facilitates flexible expansion and cost efficiency. However, the discussion came to a halt due to conflicts between the Korea Securities Depository, the Korea Financial Investment Association, and fintech firm Koscom.Meanwhile, installing an independent network is not very feasible, given that it not only incurs significant costs upfront but also has limited potential for expansion. This is why these industry leaders devised an alternative strategy in which they can collectively share the financial burden. In addition, Shinhan, KB, and NH plan to explore joint business models with the aim of maximizing the utility of their security token infrastructure.