MANTRA sets sights on real-world asset tokenization in Middle East and Asia

Web3 Cybersecurity Firm Zyber 365 Raises $100M in FundingZyber 365, a pioneering Web3 startup that combines AI, Web3, and cybersecurity, has recently secured $100 million in funding from the UK-based SRAM & MRAM Group.Photo by micheile henderson on Unsplash$1.2 billion valuationThe substantial investment places Zyber 365’s valuation at an impressive $1.2 billion, while marking a significant milestone for the company, underscoring its promising trajectory.Although now headquartered in London, the company’s origins stem from India with a set of Indian founders, while the firm continues to maintain its strategic operational base in India.The company was founded earlier this year by Pearl Kapur and ethical hacker Sunny Vaghela. The startup stands out for its groundbreaking approach to cybersecurity, offering a decentralized and cyber-secured operating system that upholds the core tenets of environmental sustainability.Indian nucleus of operationsNotably, Zyber 365 has earmarked India as the nucleus of its operations, aiming to harness the nation’s tech talent and vibrant ecosystem to fuel its growth. The recent injection of capital will likely play a pivotal role in amplifying Zyber 365’s expansion initiatives, bolstering its technological capabilities, and cementing its global market presence.The SRAM & MRAM Group, no stranger to the tech investment landscape, has previously demonstrated its confidence in innovative startups. In a similar vein, the group invested $100 million in another India-centric blockchain startup, 5ire, in July of the previous year, valuing it at an impressive $1.5 billion.Broad Web3-based product rangeZyber 365’s portfolio spans a wide spectrum of Web3 products, including Layer-0, Layer-1, and Layer-2 blockchains, decentralized identities, data analytics, a software development kit, a web browser, and even non-fungible token (NFT) marketplaces and initial coin offering (ICO) capabilities.These offerings can be seamlessly integrated as part of a comprehensive Web3 ecosystem or employed as standalone applications tailored to specific user requirements.Sunny Vaghela, the Co-Founder and Chief Product Officer (CPO) of Zyber 365, expressed his enthusiasm about the infusion of capital. He emphasized that this financial boost positions the company to expedite the development of its Web3 and AI products, thereby enhancing its presence in the dynamic tech landscape.Vaghela underscored how Zyber 365’s inventive approach to cybersecurity and its commitment to pioneering technologies set it on a remarkable path toward industry leadership.Mahendra Joshi, Director of the SRAM & MRAM Group, echoed Vaghela’s sentiments, lauding Zyber 365’s exceptional team and disruptive technology. Joshi’s confidence in the investment’s potential to drive outstanding growth and success in the coming years reflects the industry’s anticipation of the startup’s continued evolution.In an era where cybersecurity and innovation are paramount, Zyber 365’s substantial funding from the SRAM & MRAM Group heralds a new phase of growth and advancement. Venture capital investment in the digital assets space has contracted significantly since the last bull market. However, as this deal demonstrates, there are signs of green shoots emerging.With its cutting-edge technology and strategic focus on Web3 and AI, the startup has an opportunity to reshape the landscape of cybersecurity while solidifying its status as an industry trailblazer.

Experts Gather at KBW 2023 to Explore the Future of Blockchain and Web3Blockchain and Web3 experts from around the world gathered at the Shilla Hotel in Seoul on Tuesday and Wednesday to attend Impact, the main conference of Korea Blockchain Week (KBW) 2023. There, they shared insights on the challenges faced by the blockchain industry as well as future prospects, especially their anticipation for South Korea’s role in shaping the industry’s landscape.Photo by Terren Hurst on UnsplashCurrent challengesAmong these experts was Sid Powell, CEO and Co-founder of Maple Finance; Stephen Richardson, Managing Director of Financial Markets and Head of the Asia Pacific region at Fireblocks; and Kelvin Koh, Co-founder and CIO at Spartan Group, who discussed the opportunities presented by bridging traditional finance with decentralized finance (DeFi) during a panel session on Wednesday.They mentioned the recent trending decline in DeFi transactions among institutional investors, which can be attributed to the DeFi industry’s fragmented infrastructure that can be difficult to understand. In order to rekindle investor confidence and interest, the industry must consider the integration of infrastructure and highlight the advantages of DeFi such as low costs, transparency, and liquidity to showcase its potential for financial gain.In a fireside chat on the same day, Jeremy Allaire, Co-founder and CEO of global fintech company Circle, acknowledged yet another mounting challenge facing the industry — the mass adoption of blockchain technology and Web3. However, the solution to this roadblock is not far out of reach, he said. Allaire predicted that by 2025, most cryptocurrencies, including stablecoins — cryptocurrencies that are pegged to a commodity or fiat currency to maintain a stable price — will have a legal foundation, thus paving the way for mass adoption.Suk Hwan Paul Kim, CEO and Vice Chairman of Grip Labs, and Archie Ravishankar, CEO of Cogni, also said that implementing user-friendly services and institutional entry will be a key strategy for persuading Web2 users to transition to Web3 platforms and encouraging mass adoption.Outlook for KoreaMeanwhile, several key figures expressed positive hopes for the pivotal role that Korea will play in the development of the Web3 ecosystem. In particular, Polygon Labs co-founder Sandeep Nailwal and COO Michael Blank pointed out that Korean companies, especially those in the gaming industry, are open to applying Web3 technology to their business projects, thus accelerating next-generation innovation in various fields like gaming, social media, and entertainment. Indeed, Polygon Labs’ own Korean partner firms recognize that the future of the Internet will rely on blockchain technology.In order to build a solid Web3 ecosystem, they said, three core values are of utmost importance — privacy, transparency, and openness. Fostering an environment that users can trust while freely interacting with others is the key, and Polygon Labs has vowed to contribute to doing so.Notably, Commissioner Caroline D. Pham of the US Commodity Futures Trading Commission (CFTC) was also in attendance, where she shared her thoughts on the proper regulation of virtual assets. She stated that it is essential to apply the safety measures we have learned from the past century of financial history to the future cryptocurrency industry, cautioning against a one-sided view that virtual assets are inherently bad.In drawing a comparison between the US and Korea, she stated that although the US possesses strong technical capabilities and is gradually adopting a more positive perspective on virtual assets, Korea is still ahead by a decade due to the fact that the general public is more open to embracing emerging technologies. Therefore, the future partnership between the US and Korea could offer valuable insights, not only in terms of economic prosperity but also in legal and regulatory aspects.

Assemble Protocol’s Native Token Now Supported by Ceffu’s Custody SolutionAssemble Protocol, a blockchain-based global point integration platform headquartered in Hong Kong, has announced a partnership with Ceffu, previously known as Binance Custody, according to South Korean blockchain news outlet Bonmedia.Ceffu serves as the sole institutional custody partner of Binance Exchange, the world’s largest cryptocurrency exchange based on trading volume. It started as a custodian platform in 2021 and underwent a rebranding from Binance Custody to Ceffu in February. Ceffu offers support for a diverse range of digital assets, including BTC, ETH, BNB, LTC, and XRP.Photo by rc.xyz NFT gallery on Unsplash$1M minimum depositThrough this collaboration, ASM, the native token of Assemble Protocol, has been included in the list of Ceffu’s supported assets, enabling ASM holders to securely store their tokens in the custodian’s cold storage. The custody service imposes a minimum deposit requirement of $1 million worth of digital assets.Reward points to ASM tokenAssemble Protocol offers users the ability to unify their reward points obtained from various debit and credit cards into ASM. By integrating these scattered rewards, users can conveniently manage and utilize their points through a unified digital currency. The platform also rewards participants within its ecosystem with tokens based on their contributions. The more participants contribute, the greater their rewards. Moreover, advertisers can pay fees to Assemble Protocol to promote their products within the ecosystem.Park Kyu-do, CEO of Assemble Protocol, expressed his appreciation for Ceffu’s support of ASM, emphasizing the security and transparency it offers for storing assets. Park also mentioned that the collaboration with the Binance ecosystem will lead to further expansion of the protocol.Meanwhile, Assemble Protocol plans to launch mobile and desktop versions of Assemble 2.0 later this year.