Upbit Seeks Recruits for Program to Foster Digital Asset Investment Culture

BIONES partners with Bithumb Burrito Wallet for integrated service developmentBIONES, the developer of Bio Passport, a blockchain-based medical record and healthcare data management service, announced Wednesday that it has signed a memorandum of understanding (MOU) with Rotonda, the operator of the cryptocurrency wallet Bithumb Burrito Wallet. Burrito Wallet’s services are expected to be integrated into Bio Passport to expand accessibility and grow the blockchain ecosystem.Photo by Julia Zyablova on UnsplashRevolutionizing healthcare with blockchainBio Passport is notable for its blockchain-based features. This includes secure management and storage of personal healthcare information, built on distributed identification technology; a token reward system; and a decentralized application (dApp) service that allows users to contact their healthcare providers remotely, among other functions. The company’s ultimate goal is to provide telemedical services so that patients can receive consultations without having to visit a hospital or clinic in person.Simplifying crypto transactions across the worldLaunched in February, Burrito Wallet’s primary functions include convenient chat-based cryptocurrency transfers and crypto swapping. It is the largest multi-chain wallet in Korea that supports 11 mainnets, including Bitcoin and Ethereum, as well as over 1,000 token currencies.It was also recently launched in Latin America, accelerating its global expansion. Notably, users of the service in this region will have access to on- and off-ramp functions for buying and selling crypto.Strategic collaborationThrough this agreement, BIONES said that it would work with Rotonda in blockchain-related business endeavors and participate in various activities for joint development, such as user acquisition, blockchain ecosystem expansion and marketing projects.“Burrito Wallet has a variety of functions, from storing and managing crypto assets to transfers and swaps. Users can take advantage of increased safety and convenience while enjoying user-friendly wallet services,” BIONES said. “By integrating Burrito Wallet into the Bio Passport app, we aim to make it easier for more users to use our Web3-based dApps, and we plan to expand the blockchain ecosystem to create synergized effects through active marketing and technical cooperation.”

Animoca Brands Japan, a key subsidiary of Hong Kong-headquartered Web3 investor Animoca Brands, has welcomed Kensuke Amo as its Chief Operating Officer (COO) to spearhead the company's growth in Japan. Industry credentialsAmo, a seasoned industry veteran who previously served as the managing executive officer at Japanese bitcoin wallet and exchange service Coincheck, officially assumed his role as COO last Thursday. With a proven track record in launching NFT businesses and steering new crypto asset ventures, Amo played a pivotal role at Coincheck. During his tenure as an executive officer from 2020, he pioneered initiatives such as Japan's first NFT marketplace for crypto asset exchanges and an inaugural initial exchange offering (IEO). In a social media post, Amo stated that in the role, he “will be committed to doing [his] best to contribute [to] Web3 technology [so that it takes] root in society.” In 2022, Amo ascended to the leadership position at Coincheck, where he led the NFT business and metaverse business, heading three distinct web domains. His involvement in the expansion of "The Sandbox" and "Otherside" in Japan, stemming from the partnership between Coincheck and Animoca Brands in 2020, further underscores his influence in the sector.Photo by Richard Tao on UnsplashJapanese market expansionRegulatory headwinds in the United States in 2023 led to the company pivoting and focusing on non-U.S. markets. It became clear later in 2023 that the company had a specific interest in growing its business in Japan when Animoca Brands Japan acquired an equity share in Cool Cats Group, an NFT-related project. That deal also implicated a collaboration with Animoca’s digital experience label, KLKTN. As Animoca Brands Japan strategically aligns itself within Animoca Brands' larger framework, Kensuke Amo aims to leverage the company's extensive assets and network, including over 400 portfolio companies. His mission involves combining his expertise in business and rule-making within the Japanese Web3 industry to facilitate the integration of Web3 into society. Commenting further on his appointment, Amo expressed his commitment to advancing the Web3 landscape in Japan. He stated: “As a strategic subsidiary of Animoca Brands, Animoca Brands Japan will make the most of its assets and network, including its more than 400 portfolio companies, while combining its knowledge and experience in business and rule-making in the Japanese Web3 industry.” Established in 2021, Animoca Brands Japan has played a crucial role in supporting Japanese intellectual property and content holders in their global Web3 expansion efforts. The company secured an undisclosed investment from Mitsui & Co., one of Japan’s largest trading companies, in June. Daisuke Iwase, the CEO of Animoca Brands Japan, expressed optimism about the collaboration with Kensuke Amo, emphasizing his leadership in the realms of crypto assets, NFTs and the metaverse in Japan. Amo’s industry involvement extends beyond Animoca Brands Japan, as he currently advises the Japan Cryptoasset Business Association (JCBA), Shibuya-ku Startup Ecosystem, Web3 project "OASIS" and real estate information service company LIFULL Co., Ltd. Additionally, he is the author of "Textbook of NFT" and "Non Fungible Me." 

Having introduced its swift licensing process late last year, Hong Kong's Securities and Futures Commission (SFC) has extended access to the process to all new virtual asset trading platform (VATP) applicants. In a statement published on its website on Jan. 16, the regulator outlined that it is extending the swift licensing process to new applicants. Back in December, the SFC approved licensing relative to four exchanges under the expedited process. Those additions included Accumulus GBA Technology Co., DFX Labs Company, Hong Kong Digital Asset EX and Thousand Whales Technology (BVI).Photo by Ruslan Bardash on UnsplashSeven licensed VATPsThat has brought the total number of licensed exchanges to seven, as HashKey, OSL and HKVAX were the first exchanges to be approved. In November, fifteen licensing applications relative to virtual asset platforms, had been pending. According to SFC CEO Julia Leung, the regulator had hoped to issue licenses to eleven VATPs by the end of 2024.  The new expedited process requires applicants to “implement their policies, procedures, systems and controls before conducting an external assessment on these measures.” The regulator decided to extend the swift licensing process due to the effectiveness of the SFC’s engagement with other applicants, relative to the regulatory standards being put in place, implemented through on-site inspections being carried out. Fostering a healthy ecosystem Commenting on the development, Dr. Eric Yip, the SFC’s Executive Director of Intermediaries, stated:“The SFC is committed to fostering a healthy ecosystem and a robust regulatory framework for the development of virtual assets in Hong Kong. With the new approach, we will enhance our collaboration with VATP applicants, providing them with constructive and timely feedback, thereby enabling fully compliant VATPs to bring their services to investors more swiftly.” While the regulator is awarding licensing on an expedited basis through the swift licensing process, licensing is conditional. The VATP can operate on a restricted scope of business once it has completed rectification actions following feedback provided by SFC inspectors.  In October Yip outlined the SFC’s plans to create a consultative panel consisting of senior management executives from licensed VATPs. The objective of the panel is to gather feedback and concerns from licensees, adjusting the regulatory framework where deemed appropriate, relative to that feedback. Commenting on the initial introduction of the expedited approval system last December, Yip stated: “We have been proactively engaging with VATPs’ senior management and ultimate controllers, which helps drive home our expected regulatory standards and expedite our licensing process for VATPs. We aim to strike a balance between safeguarding the interests of investors and facilitating continuous development for the virtual asset ecosystem in Hong Kong.” The Hong Kong government has also been working towards incorporating a stablecoin bill, which will establish a regulatory framework with regard to fiat-referenced stablecoins. The SFC also intends to introduce licensing for crypto custodians in 2025.