XPLA to Bring The Walking Dead: All-Stars to Mainnet

Animoca Brands Partners With Yuga Labs on ‘Wreck League’ LaunchHong Kong’s Animoca Brands and its San Francisco-based subsidiary nWay, a developer and publisher of multiplayer games, have partnered with Yuga Labs, unveiling their latest creation: “Wreck League.”Photo by Haidan on UnsplashLeveraging Web3Diving into uncharted waters in the realm of esports, this game leverages Web3 technology to empower players with the ability to construct, possess, and engage in battles with their very own distinctive Mech fighters.“Wreck League” challenges the traditional boundaries of gaming by permitting enthusiasts to craft their fighters, engage in fierce competitions, and secure on-chain rewards. Set to debut its maiden season, the game will draw inspiration from the Web3 stalwart, Yuga Labs.The game boasts a dual-pronged design, encompassing both Web2 and Web3 versions. In a savvy maneuver to capture a wide-ranging audience, nWay has devised a marketing strategy that seamlessly integrates effective user acquisition techniques from their previous ventures while circumventing complex blockchain terminology.Clarifying the ingenious concept behind the game, Taehoon Kim, the CEO of nWay, explained: “Wreck League stands as a fusion of Web3 and Web2 concepts. Our mission revolves around unifying communities and players, tapping into the creative wellspring of the Web3 community to consistently elevate the game’s content.”Designed for player retentionWithin the player community, creators, owners, and participants converge to partake in league events. The crux of the game revolves around the assembly of high-performance Mechs, crafted from a collection of 10 distinct Mech Parts NFTs.Player retention is a cornerstone of its design, driven by an engaging trajectory of in-game progression through upgradable mech parts, enhancing gameplay dynamics, and embedding the notion of asset ownership. The more players invest in refining their assets and advancing through levels, the stronger their bond with the game becomes. Active participation in events and tournaments further reinforces player allegiance.Yat Siu, the Co-Founder and Executive Chairman of Animoca Brands, is optimistic regarding the transformative potential of “Wreck League” within the esports sector. Siu envisions the game, where digital asset ownership is the norm, as a harbinger of a monumental shift in competitive gaming dynamics.Expanding market reachFor Yuga’s part, the NFT and metaverse company is using gaming, through this particular partnership, as a mechanism to broaden the reach of its well-established NFT brand. That said, it has also made its own individual efforts in that regard recently. The Web3 studio, best known for having created the Bored Ape Yacht Club (BAYC) NFT collection, has released two games, Dookey Dash and Forge, independently.nWay and Animoca Brands get to benefit from access to Yuga’s well-known NFT collections through the partnership. The companies confirmed that as part of the gaming experience, gamers will be able to collect and take ownership of in-game digital assets in the form of NFTs.Animoca acquired nWay in December 2019 for $7.69 million. The games developer and publisher creates and distributes triple A games on console, PC, and mobile platforms. At the time of the acquisition Animoca Brands outlined that it foresaw nWay innovating in the area of blockchain-based games, with the intention of both companies working together relative to that endeavor.

Ant Group, a Chinese financial services conglomerate and affiliate of the Alibaba Group, has plans to acquire stablecoin licenses across Asian markets and further afield. Its Singapore-headquartered global digital payments and financial technology subsidiary, Ant International, plans to file an application for a stablecoin license in Singapore and in Hong Kong once the Chinese autonomous territory implements its stablecoin regulation later this summer.  That’s according to a report published by Bloomberg on June 12, citing unnamed sources familiar with the matter. Beyond the Asia-Pacific (APAC) region, Ant International also plans to seek a stablecoin license in Luxembourg.Photo by Ban Daisy on Unsplash2 Hong Kong stablecoin license applicationsIn a statement, Ant International stated: “We plan to apply for the fiat-referenced stablecoins (FRS) issuer's license once the process is open after the [Hong Kong] Stablecoins Ordinance takes effect on August 1.”Additionally, Bian Zhuoqun, president of Ant Digital Technologies, another Ant Group subsidiary focused on applying digital technologies, confirmed that it too will be applying for stablecoin licensing in Hong Kong.  Zhuoqun told reporters that the company has already opened dialogue with the regulator in Hong Kong, while also participating in a regulatory sandbox. While the company wasn’t a named participant within Hong Kong’s stablecoin sandbox, it had previously participated in Project Ensemble, an initiative run by the Hong Kong Monetary Authority (HKMA) aimed at establishing a tokenization ecosystem in the city. Exploring stablecoin applicationsOn June 10, Ant International and German multinational investment bank Deutsche Bank announced a strategic partnership geared towards establishing integrated cross-border payment solutions to global merchants.  The two firms stated that they would explore tokenized bank deposits while also looking into stablecoin applications for global payments. It highlighted the potential use of stablecoins within Ant companies, facilitating real-time cross-border treasury management, reserve management and on-ramp and off-ramp services. Back in November, Singapore-headquartered StraitsX, a stablecoin-based payments startup, launched a cross-border payments product in association with AliPay+, Ali International’s offshore digital payments platform. A key component of the product offering is the use of the XSGD stablecoin. Hong Kong passed its stablecoin bill last month. Last week, the city’s government outlined that the effective date for the resultant Stablecoin Ordinance has been set for Aug. 1. Under the Ordinance, only licensed institutions are authorized to offer fiat-referenced stablecoins in Hong Kong, while the issuer of such a stablecoin must be licensed in order for it to be offered to a retail investor. Last month, multinational banking and financial services group HSBC launched Hong Kong’s first blockchain-based settlement service, utilizing tokenized deposits for swift transactions. The company collaborated with Ant International, which became the first client of the service. Entering the financial mainstreamA Financial Times report published on June 12 asserted that stablecoins are entering the financial mainstream, a development that “could have profound implications for the global financial system.” Earlier this week, the South China Morning Post (SCMP) reported that Hong Kong’s stablecoin law could lead to a boom in digital assets.Daniel Tse, managing director of Hong Kong brokerage firm Futu Securities, told the SCMP: “We’re seeing a significant trend in investments related to stablecoins on our platform, which highlights the growing importance of this sector.” 

The UK affiliate of Banxa, the Australia-headquartered financial infrastructure firm, has clinched a coveted spot as the first entity to grace the Financial Conduct Authority's (FCA) crypto register for the year 2024.Photo by Susan Q Yin on UnsplashAuthorized VASPThe company drew attention to this milestone on Tuesday, through the publication of a press release. The approval catapults BNXA UK VASP (virtual asset service provider) into the realm of authorized providers of crypto-related services to clients residing in the United Kingdom. Notably, the UK subsidiary company's managing director, Brinda Paul, formerly held the director of compliance position at Banxa in Melbourne. She struck an optimistic note in her comments on the approval, stating:"I am incredibly proud to have led this registration process to a successful outcome, especially considering the low approval rate of 7% for FCA registrations in 2023, - only 4 companies received their registration. Banxa believes the FCA's high standards, focusing on robust business models, corporate governance, risk management and compliance validates the Company's commitment to support cryptoasset adoption and the development of the crypto market in the UK while doing so in a compliant manner." Banxa's stature extends to its listing on the Toronto Stock Exchange, solidifying its position as a key player in the payments infrastructure domain. The company claims to be following a mission to “build the infrastructure to extend the benefits of crypto to every merchant & consumer in the world.” The firm includes Asian crypto service provider and investor OK Group among its list of initial investors. Other early stage investors include KuCoin and Australia’s Thorney Investment Group. Fiat processing servicesThe company specializes in fiat-processing services tailored for various cryptocurrency exchanges, including heavyweights like Binance and OKX. It’s interesting to note that in the case of these two companies, neither Binance nor OKX holds FCA approval for their crypto operations, although OKX has been making a concerted effort of late towards coming into compliance. Banxa has been accumulating money transmitter licenses in the United States. As of September, the company held 32 such licenses for various U.S. states. A pivotal aspect of FCA registration pertains to promotional endeavors targeting UK customers. Entities aiming to disseminate promotional materials to UK-based clients must either secure registration with the FCA or obtain approval for their promotions through an authorized entity. Responding to legislative changes, the FCA has rolled out updated guidance, extending its oversight to crypto promotions targeting UK consumers. This move aims to enhance consumer comprehension of crypto investments and associated risks, in line with the FCA's commitment to consumer protection and market integrity. New UK marketing rulesNew marketing rules have led to exchanges like Bybit withdrawing services from the UK market. Recent developments have also seen crypto platforms like KuCoin and HTX added to the FCA’s warning list of unregulated entities. Drawing insights from industry consultations, the FCA has refined its rules and accompanying guidance, integrating feedback from stakeholders to ensure coherence and effectiveness in navigating the evolving regulatory terrain.