Former Binance CEO advising Kyrgyzstan on blockchain & crypto

Singapore-based payments provider Alchemy Pay has secured $10 million in investment from market maker DWF Labs at a valuation of $400 million, as the company looks to expand its business in South Korea.©Pexels/Ivan Samkov Korean expansionTaking to Twitter, Alchemy Pay stated that it “will continue to enhance [its] global market presence by bringing forward [its] payment solutions and services to the Korean market, providing an easy onboard from fiat to cryptocurrencies for more Korean companies.” It’s understood that the high level of acceptance of digital assets in Korea is attractive to Alchemy as something it can capitalize on.Alchemy’s Ecosystem Lead, Robert McCracken, stated in a Medium blog article that while this investment was pursued relative to a specific and strategic decision to enter the Korean market, the company is otherwise well funded. DWF funding spreeDWF Labs’ investment of $10 million in Alchemy Pay marks its eighth investment or funding round of at least $10 million into Web3 and crypto projects in the past six weeks, with a combined total of $165 million.According to DWF’s managing partner Andrei Grachev, the current bearish market is an opportune time to enter the investment space. Grachev stated to CoinDesk that the company has accumulated enough profits to invest in projects at present.With offices in Singapore, Switzerland, Hong Kong, the United Arab Emirates, South Korea and the British Virgin Islands (BVI), DWF Labs fits the role of a global multi-stage Web3 investment firm. It collaborates and partners with portfolio companies with regard to activities such as market making, token listing and Over The Counter (OTC) trading solutions. $ACH boostAlchemy Pay’s native token, $ACH, has a market capitalization of around $188 million. Buoyed by today’s announcement, the token was trading at $0.03885 at the time of publication. That’s a surge in value in dollar terms of around 16%, although it’s still quite a ways off its all time high of $0.18468, achieved on August 6, 2021, at the height of the last crypto bull run.In a press release published on Monday, Alchemy Pay described itself as “a payment gateway that seamlessly connects crypto and global fiat currencies for businesses, developers, and users.”Founded in 2018, the company has previously collaborated with Visa, Mastercard, Google Pay, and Apple Pay for this purpose. Cryptocurrency and derivatives exchange OKX recently integrated Alchemy Pay into its platform, in order to simplify the process of purchasing cryptocurrency using local currencies for its customers. NFT CheckoutApart from its payment services, Alchemy Pay has also launched its innovative NFT Checkout service. The service allows customers to purchase NFTs using fiat payment options, making it as easy as any other standard online payment method. This function enables users to acquire NFTs with their local domestic currencies, providing a seamless purchasing experience.The platform offers over 300 local alternative payment channels, enabling it to extend its reach beyond traditional credit cards into local mobile wallet options. The footprint of the business now extends across Northern and Latin America, Europe and Southeast Asia.

Politician Responds as Buterin Questions Hong Kong’s Crypto CredentialsIn a measured response on Friday, Johnny Ng, a member of Hong Kong’s Legislative Council, addressed the comments made by Ethereum co-founder Vitalik Buterin concerning Hong Kong’s future stance on cryptocurrencies.Photo by Florian Wehde on UnsplashInvitation extendedNg extended an invitation to Buterin to visit Hong Kong, allowing him to gain a more nuanced understanding of the region’s dynamics. Ng also expressed his intent to collaborate with relevant institutions and enterprises to provide Buterin with insights into Hong Kong’s current situation.Vitalik Buterin had voiced his concerns at the Web3 Transition Summit in Singapore on Thursday. Buterin stated:“If any crypto project wants to make Hong Kong their home, they would want to have some confidence — not just that it’s friendly now but that it will continue to be friendly years from now when all kinds of unknown, regulatory and political and other kinds of events are going to happen.”He acknowledged that he did not possess an in-depth understanding of Hong Kong’s intricacies, particularly in light of recent developments in its relationship with mainland China. Buterin emphasized the need for crypto projects to have confidence not only in Hong Kong’s current crypto-friendliness but also in its ability to maintain this stance amidst unforeseen regulatory, political, and other events.In response to Buterin’s remarks, Ng reassured him that Hong Kong’s crypto-related policies were not prone to sudden changes. He highlighted that these policies had been formulated with broad social consensus and underwent comprehensive procedural assessments. Ng asserted: “Therefore, I can tell Mr. Vitalik that Hong Kong’s policies are very stable.”He further elaborated on Hong Kong’s legislative process, emphasizing the stages of government policy drafting, public consultation, discussions within multiple committees of the Legislative Council, and the General Assembly’s review.Best-prepared crypto jurisdictionIn a separate development, Hong Kong has maintained its position as the best-prepared jurisdiction for widespread cryptocurrency adoption in 2023, according to a recently published study. The Chinese autonomous territory secured the top rank for the second consecutive year.This recognition is based on a crypto readiness score (CRS) that takes into account factors such as the presence of crypto ATMs, the regulatory environment, accessibility, and legality.In contrast, the United States slipped to third place, experiencing a 6.5% drop in its CRS score from the previous year. Switzerland emerged as the second-best-prepared jurisdiction, with its CRS score surging by over 9%.The Dutch demonstrated the highest per capita interest in crypto, while Hong Kong stood out for having the most crypto ATMs per square foot due to its smaller landmass. Within the United States, New York became the most crypto-ready state, boasting a CRS of 9.80, owing to a robust legislative environment and a thriving crypto and blockchain industry.Chainalysis crypto adoption reportMeanwhile, India emerged as the global leader in crypto adoption in 2023, according to a recently compiled Chainalysis report. The report also highlighted other lower middle-income nations, such as Nigeria and Thailand, ranking prominently in crypto adoption. India’s crypto market has surged to become the second-largest globally by raw estimated transaction volume.Johnny Ng’s response to Vitalik Buterin’s comments is indicative of the measured and informed approach of Hong Kong’s leadership regarding cryptocurrencies. With a stable and consensus-driven regulatory framework, Hong Kong remains a key player in the evolving landscape of digital currencies.

NEOPIN and MEVerse Join Hands to Expand Blockchain EcosystemCentralized decentralized finance (CeDeFi) protocol provider NEOPIN said Tuesday that it has teamed up with MEVerse, the blockchain mainnet operated by gaming company ME2ON Group, to expand the global blockchain ecosystem and optimize the accessibility and functionality of their respective platforms.Photo by Gerd Altmann on PixabayPromoting blockchain worldwideBoth parties have agreed to collaborate on integrating their platforms to build a global user base consisting of those who have completed necessary verification procedures like Know Your Customer (KYC) and Anti-Money Laundering (AML). They will also support each other’s global partner networks, contributing to service enhancement and ecosystem expansion. NEOPIN has also vowed to introduce MEVerse to its global user community.“Initiating the integration of NEOPIN and MEVerse platforms, we are poised to play an active role in fostering the growth and widespread adoption of the blockchain ecosystem. This includes the enduring fusion of blockchain technology with Korean content.” said Ethan Kim, CEO of NEOPIN.Collaborative synergyMEVerse possesses various blockchain infrastructures, including the Web3 P2E casual game portal MEVerse GameZ, non-fungible token (NFT) marketplace MEVerse DEX, blockchain explorer MEVerse Scan, and more. The platform said that it is currently in the process of establishing a borderless Web3 ecosystem by boosting compatibility with its mainnet ecosystem and leveraging cross-chain technology.“MEVerse’s strengths lie in its possession of a wide range of blockchain platforms and content, from its blockchain mainnet to the Web3 gaming ecosystem and Korean content,” Kim commented.Meanwhile, NEOPIN has accumulated knowledge and expertise on blockchain operations during its time as a node validator for various blockchain networks such as Ethereum and Cardano since 2017. Last year, the platform launched its CeDeFi protocol, providing a secure and user-friendly DeFi platform.“We are thrilled to partner with NEOPIN, a pioneer in the DeFi sector. Through tangible integration examples, we look forward to facilitating user engagement and cultivating an expanded Web3 ecosystem,” said Jong-ho Hong, CEO of MEVerse.