Bithumb and NH Bank renew their real-name account contract for just six months

Hong Kong licensing success sees SEBA Bank expand APAC crypto presenceSwitzerland-based SEBA Bank AG has taken a significant step in its global expansion strategy by securing a license from Hong Kong’s Securities and Futures Commission (SFC) to manage traditional securities and digital assets through its subsidiary, SEBA Hong Kong.Photo by Ruslan Bardash on UnsplashFirst move into APAC for crypto businessSEBA Hong Kong published a statement on Wednesday to announce the milestone. It marks the crypto-centric bank’s maiden entry into the Asia-Pacific (APAC) region and expands its footprint across three regulated hubs, including Switzerland and Abu Dhabi.The acquisition of the digital asset license from the SFC provides SEBA Bank with the ability to offer regulated services pertaining to digital assets, encompassing both virtual assets and securities. The move is seen as a reflection of SEBA’s confidence in the long-established capital markets and strong appetite for investment and trading in Hong Kong.SEBA Hong Kong’s CEO, Amy Yu, expressed her enthusiasm, stating:“We are tremendously excited by Hong Kong’s deep-rooted capital markets and appetite for investment and trading; to have secured this license from the SFC provides enormous potential for our business, owing to the well-established and defined regulatory framework that is present here.”Opening up OTC derivatives possibilitiesThe license grants SEBA Bank the authority to engage in a wide range of regulated activities related to traditional securities and digital assets within Hong Kong. This includes dealing with and distributing all types of securities, including virtual asset-related products like over-the-counter (OTC) derivatives.What is likely to give SEBA Bank’s licensed services the upper hand is their accessibility to a diverse clientele, including institutional investors, corporate treasuries, funds, family offices and high-net-worth individuals. The aim is to cater to a broad spectrum of clients seeking exposure to the digital asset landscape, from sophisticated institutional investors to individuals with substantial assets.This milestone comes after SEBA’s previous in-principle approval (AIP) for virtual asset trading services, granted in August. The full approval allows SEBA Bank to significantly broaden its product and service offerings in Hong Kong, contributing to the wider adoption of cryptocurrencies and digital assets in the region.Franz Bergmueller, Chief Executive Officer of SEBA Bank, highlighted the significance of this regulatory achievement, not only for the bank but for Hong Kong’s position as a global financial services hub. He stated:“This regulatory clarity not only benefits our business but also supplements Hong Kong’s status as a global financial services hub. The region’s robust legal system provides a solid foundation to conduct crypto-related services, and we look forward to beginning that from today.”The regulatory breakthrough achieved by SEBA Bank in Hong Kong aligns with the broader trend of evolving and expanding regulations in the digital asset space within the region. Hong Kong has been progressively adapting its regulatory landscape to accommodate the growth of digital assets.SEBA Bank’s move also echoes the welcoming environment for crypto firms in Hong Kong. As Standard Chartered-backed Zodia Custody recently announced plans to launch its services in the city, it underscores Hong Kong’s emergence as a prominent player in the APAC region. SEBA's presence in Hong Kong not only strengthens the region’s stature as a global financial services hub but is also suggestive of its interest in fostering the growth of the digital asset industry within the Chinese autonomous territory.

ADDX Expands to Tap into MENA’s Thriving Private MarketSingapore-based global private market exchange ADDX has revealed plans to extend its blockchain-enabled private market exchange platform into the Gulf Cooperation Council (GCC) and the broader Middle East and North Africa (MENA) regions.In a recent announcement, the company stated that the move aims to bridge the existing financing gap between private enterprises and capital providers, positioning ADDX strategically relative to global financial transformation.Photo by Kyle Glenn on UnsplashExploiting MENA potentialThe MENA region has seen a surge in demand for strategic growth capital, particularly from micro, small, and medium-sized enterprises (MSMEs) and innovative startups. These enterprises are expected to play a pivotal role in driving sustainable economic growth across the region. By introducing its platform, ADDX aims to provide these enterprises with a seamless pathway to access early-stage, high-growth private investment opportunities, blending cutting-edge technology with rigorous compliance standards.ADDX’s primary objective is to catalyze the growth of innovative enterprises that are key to the region’s sustainable economic diversification by facilitating the inflow of capital. This initiative aligns with the region’s focus on cutting-edge sectors such as artificial intelligence, Web3, and sustainable construction practices.Since its establishment in 2017, the platform has secured $140 million in funding from institutions such as the Singapore Exchange and Korea’s KB Financial Group. With its expansion into the MENA market, ADDX aims to act as a conduit for strategic growth capital, enabling pre-IPO companies in the region to access local and global financial resources.Simultaneously, this expansion is expected to open up numerous investment opportunities in thriving Asian enterprises for fund managers based in MENA, further strengthening the economic ties between the Asia-Pacific (APAC) and MENA regions.Danny Toe, CEO of ADDX, shared his vision for the company, saying: “The ability to safely and securely open private markets to capital investment presents tremendous opportunities for governments and regulatory bodies to add to the financial infrastructure of the regions.”Blockchain relevanceManuel Jaeger, ADDX’s Head of Business Development at the firm, expanded on the transformative potential of this move, emphasizing the role of blockchain in revolutionizing private market investing. Jaeger stated:“The rise of blockchain-powered platforms has changed the game and transformed how investors view private market investing. Our next step is to replicate in MENA the approach we have taken in APAC. This involves working closely with financial institutions, regulators and government organizations as well as leaders across the Middle East region to create an open flow of capital across private markets for the long-term benefit of investors, private companies and the global economy.``Tokenization of real-world assets and investment products is expected to be a growing trend over the next few years. That development has not been lost on ADDX. In May, the company collaborated with Singapore’s oldest bank, OCBC Bank, to launch a tokenized equity-linked structured note.The firm has cottoned on to the relevance of crypto in the investing arena, becoming the first financial institution in Singapore in 2022 to recognize crypto assets in reckoning if clients achieve the minimum personal wealth levels to be onboarded as accredited investors.

BPMG launches competition platform GemPION for Web3 gamersBPMG, a South Korean Web3 platform developer, revealed the launch of GemPION. This platform, operated under BPMG’s gaming arm GemHUB and developed in collaboration with blockchain network Everscale, is designed specifically for competitive gaming. It offers users of its integrated games the opportunity to engage in tournament competitions or partake in various missions.Photo by Andrey Metelev on UnsplashDiverse competitive formatsOn the GemPION platform, gamers have the opportunity to participate in various competitive formats such as single-elimination tournaments, battle royales, or leaderboard challenges. The platform features both free-to-enter and paid competitions, with the latter offering larger prize pools. To maintain and increase user engagement, each game hosted on GemPION provides a variety of competitions, either through seasonal events or on an ongoing, all-year-round basis.Launch eventsIn celebration of its official launch, GemPION is organizing a series of events. From Nov. 18 to Dec. 16, a selection of games on GemHUB, including Number Shoot, Jelly Snake, Find Bird, Push Push Cat and Mayan Cryptex, will be highlighted in tournament competitions. These tournaments are set to occur every Saturday and feature a total prize pool of $3,500.The platform is offering 1,000 tickets for complimentary access to paid tournaments. These tickets are available on a first-come, first-served basis and can be obtained by users who apply the promotion code. Furthermore, users who invite friends to join the platform, either by completing certain missions or through the use of referral links, will receive additional incentives.GemPION is also preparing to launch more games, including Heroes9 with NFT, Jewel Dungeon Quest and Farm Raid Mission.Cha Ji-hoon, CEO of BPMG, stated that GemPION is a gaming system designed to elevate the immersive experience of users and increase their engagement. He highlighted that the system utilizes technology that is not only applicable to Web3 games but also to conventional games. Cha further shared his vision for GemPION, expressing his aspiration to broaden the gaming ecosystem. He plans to do this by introducing seasonal events and country-specific competitions, which will feature even larger prize pools.