QCP Trading takes significant step towards full licensing in Singapore

GDAC Joins Hands with Bitgo to Fortify Crypto Wallet SecurityCryptocurrency trading platform GDAC, which is operated by South Korean blockchain fintech company Peertec, revealed on October 19 (local time) a partnership with crypto wallet provider Bitgo. This collaboration aims to bolster the security measures for the exchange’s wallets.Bitgo, headquartered in Palo Alto, California, and backed by investment bank Goldman Sachs, is renowned for its secure wallet solutions. As a qualified custodian for digital assets across various jurisdictions such as the United States, Switzerland, and Germany, Bitgo has been serving more than 1,500 institutional clients in over 50 countries since 2013. The company also touts that it processes about 20% of all on-chain Bitcoin transactions by value.Photo by Shubham’s Web3 on UnsplashBitgo’s growing presence in KoreaBitgo’s latest partnership with GDAC isn’t its first venture in the Korean market. Just last month, the company entered into a strategic partnership with Hana Bank, one of Korea’s leading banking institutions. This collaboration aims to drive the development of security solutions, foster technical cooperation, and even explore a potential joint venture in the future.With this collaborative initiative, GDAC is now a partner of two major digital asset custodians: Bitgo and Fireblocks. Through this cooperative network, the Korean exchange seeks to take a leading role in enhancing security as a virtual asset service provider (VASP). In May, GDAC launched a mobile application where users can seamlessly enjoy all of its crypto services, including exchange, custody, and staking.Han Seung-hwan, CEO of GDAC, said that the company places the utmost priority on bolstering its security technology and ensuring the secure storage of customer assets. He added that having solidified its position as an exchange dedicated to institutional clients, GDAC will focus on delivering customer-centric, high-quality services.

Komainu and Crypto Garage partner to bring about institutional crypto adoptionKomainu, the crypto custodian and portfolio company of Japanese financial services conglomerate Nomura, has partnered with Crypto Garage to work towards enabling institutional crypto adoption in Japan.The digital asset custodian made the announcement of the partnership in a press release published to its website on Wednesday. The collaboration builds upon the investment by Crypto Garage's parent company, Digital Garage, in Komainu, aimed at fortifying Komainu’s market presence in Japan. The investment also unites Digital Garage with other prominent Japanese stakeholders in Komainu, including Laser Digital, the digital asset subsidiary of Nomura, alongside the Nomura Research Institute.Photo by Agathe on UnsplashCapitalizing on growing institutional interestCrypto Garage, a company that provides custody, over-the-counter (OTC) trading and settlement services in both the Japanese and international markets, has seen a growing interest from Japanese institutions in digital assets. This has spurred Komainu and Crypto Garage to develop advanced digital asset custody solutions tailored specifically to meet institutional demands, with a strong focus on security and compliance.The partnership harnesses the diverse expertise of both entities, laying the foundation for what both firms hope will be a robust and dependable digital asset management platform throughout the lifecycle of these assets. Speaking to that notion, Crypto Garage CEO Masahito Okuma suggested that the firms share a common vision, adding:“By combining forces, we will leverage our collective expertise to deliver solutions that satisfy the unique needs of Japanese institutions.”Nicolas Bertrand, CEO of Komainu, expressed his optimism regarding the collaboration and the Japanese market, stating:“Japan is a key jurisdiction for digital assets and continues to be an important part of our plans to be the most coveted institutional-grade custodian globally.”This partnership represents a significant leap forward in advancing the institutional crypto landscape in Japan. With the support of established financial entities such as Nomura Holdings Inc. and Digital Garage Inc., this venture is poised to instill confidence among Japanese institutions by demonstrating a strong commitment from the traditional financial sector.This collaboration not only demonstrates the evolving dynamics of institutional crypto services in Japan but also underscores the broader acceptance and integration of digital asset management solutions within traditional financial frameworks. It signifies a matured understanding and approach to digital asset custody and management.Komainu, established as a joint venture between Nomura, CoinShares and Ledger, operates in full compliance with regulatory standards, offering a fusion of traditional financial services with state-of-the-art security measures for institutional custody in the digital age. Earlier this year, the firm entered into a partnership with crypto exchange platform OKX, providing the company with digital asset custody services.In August, Komainu secured a trading license from the Virtual Assets Regulatory Authority (VARA) in Dubai. Meanwhile, Crypto Garage extends its services to crypto asset businesses, both within Japan and internationally, covering custody, over-the-counter (OTC) trading and settlement services for digital assets.

Korea’s ABB Joins Hands with Vietnam’s DTS Group for Web3 DevelopmentSouth Korean Web3 consulting firm ABB announced Monday that it has signed a comprehensive memorandum of understanding (MOU) with DTS Group, one of the fastest-growing companies in Vietnam.The agreement was signed at the 20th World Web 3.0 NFT META Marvels Bangkok 2023 conference held in the Thai capital last Friday, with ABB’s CEO, Jung Joo-pil, and DTS Group’s Chairman, Truong Gia Bao, in attendance.Photo by Shubham Dhage on UnsplashFostering Web3 innovation and diplomatic tiesThis collaboration is expected to contribute significantly to the development of Web3 in both Korea and Vietnam. They will start by discovering and investing in promising blockchain startups and expand into more diverse business areas, then further enhance their cooperation in Web3 technology development and promotional marketing in the future.About ABB and DTS GroupABB is primarily engaged in consulting, promotional marketing, and fundraising for blockchain-related projects. It is widely known as the publisher of the Korean blockchain monthly magazine Blockchain Today, through which it contributes to the growth of the Korean blockchain industry.DTS Group, on the other hand, is one of the fastest-growing firms in Vietnam and operates via four main subsidiaries, including DTS Foundation, which focuses on the incubation of blockchain startups; DTS Ventures, a venture capital firm that invests in blockchain startups; DTS Media, which engages in marketing and event organization; and Mira Blockchain Center, which focuses on the development and support of blockchain and AI technologies.