ZkLink Snags $10M Funding Ahead of Mainnet Launch

GroundX releases membership NFT for JND Studios’ character figures on Klip DropsGroundX, the blockchain subsidiary of South Korean conglomerate Kakao, has teamed up with JND Studios — the only hyper-realistic figure maker in South Korea — to drop a membership non-fungible token (NFT) collection on Klip Drops, its digital art curation gallery and NFT platform, according to an official announcement on Monday (local time).Photo by Choong Deng Xiang on UnsplashExclusive accessJND Studios’ figures are known for being hard to acquire, as they are often made in small batches that sell out quickly. Owners of the membership NFT will get the exclusive opportunity to be the first to purchase products from the company’s K-Star Figures lineup, which features figures of popular characters from South Korean movies and dramas. This will allow the NFT owners to secure the items before their official release without the risk of them selling out prematurely.The first character from the lineup — actor Choi Min-sik as Oh Dae-su from the critically acclaimed film “Oldboy” — will be gifted to customers who purchase the NFT. The product is valued at KRW 3 million (approximately $2,300), according to JND Studios. A figure of actress Kim Hye-soo as the iconic Madam Jung from the movie “Tazza” will also be unveiled early next year.The sales period for the NFT drop will run until Jan. 3 with a limited quantity available for purchase. Buyers can link their Klip wallet on the JND Studios website, verify the NFTs they own, and then purchase the K-Stars membership NFT to get their hands on the upcoming K-Star Figures.Spearheading NFT integrationGroundX is leveraging Klip Drops to promote the widespread adoption of NFTs by implementing them in diverse sectors, such as art, retail and culture, where they can be used as membership vouchers, tickets or even coupons.

SBI Digital Asset Holdings (SBI DAH) has unveiled a new joint venture with Chiliz, geared towards introducing soccer club fan tokens to Japan.  Bringing a fan engagement token offering to JapanThese tokens, operating under the Socios fan engagement brand, encompass soccer clubs such as Arsenal, AC Milan, Manchester City, FC Barcelona, Inter Milan and Paris Saint-Germain. Both companies outlined to The Block in a joint statement that the purpose of the joint venture is to provide local sports fans in Japan with access to tokens associated with these high profile soccer clubs.Photo by Konstantin Evdokimov on UnsplashAlongside this collaboration, SBI DAH intends to establish a node on the Chiliz Chain. Notably, over 2 million users have already engaged with the Socios fan tokens, signifying a burgeoning interest in this space. Rather than depend upon non-fungible tokens Chiliz relies upon fan tokens, representing a distinct category. They're fungible, akin to tracking stocks, facilitating fan engagement through voting, competitions, VIP experiences, merchandise and exclusive offers.  In Japan, private investors traditionally exhibit more active engagement with companies, often receiving incentives such as discount coupons, gift cards, points and memberships. While fan tokens don't confer ownership rights in the clubs, they offer similar avenues for engagement.  Fernando Luis Vázquez Cao, CEO of SBI DAH, highlighted the importance of technology in enhancing community experiences, expressing enthusiasm for collaborating with industry leaders like Chiliz to introduce novel experiences to the Japanese audience. Vázquez Cao stated:”The partnership between SBI DAH and Chiliz will bring together the best-in-class capabilities of both traditional finance and Web3, leveraging fintech innovations to transform the sports and entertainment experiences for communities.” The recent transition of the Chiliz blockchain from a Proof of Authority (PoA) to a Proof of Staked Authority (PoSA) version marks a significant step forward, attracting node operators like Paris Saint Germain and enhancing the network's capabilities. PoSA is a hybrid consensus algorithm that enables faster block times and reduced transaction costs. Additional partnershipsIn addition to its collaboration with Chiliz, SBI DAH boasts a diverse portfolio of blockchain interests, spanning initiatives such as AsiaNext, SBI Digital Markets and crypto custodian Zodia Custody. Many crypto projects have partnered with the company as a means to gain access to the Japanese market. One of the most recent examples is its partnership with USDC stablecoin issuer Circle.  The objective of that partnership has been to expand the circulation of stablecoins in Japan, but particularly USDC. Moreover, SBI DAH has made strategic investments in prominent players like Swiss digital asset bank Sygnum, Blockdaemon and the Tangem wallet. SBI Holdings, the parent company of SBI DAH, similarly maintains an extensive involvement in blockchain investments and activities.  In tackling the Japanese market, Chiliz will have to contend with a local competitor in the form of FiNANCiE. It has emerged to fill a similar role, fostering relationships with domestic sports teams, including J-League soccer clubs. By contrast,  Chiliz has provided broader international exposure. International competitors include Sorare and Dapper Labs, which concentrate on NFTs.

Recent statements by figures well placed in the crypto space and within the Vietnamese government point to increased potential for greater adoption of XRP, the payments solution token first developed by Ripple Labs.Photo by Silver Ringvee on Unsplash‘XRP will be big in Vietnam’Yasin Mobarak is a prominent figure within the XRP community. He’s also the founder and managing member of Dizer Capital, a venture capital and private equity firm that specializes in blockchain, internet of things (IoT) and clean energy projects. On Saturday, Mobarak tweeted out: "$XRP will be big in Vietnam." While Mobarak didn’t comment further, he did include a link to an X social media post published by XRP community member Kenny Nguyen, relaying the news that Vietnamese Finance Minister Ho Duc Phoc had announced that the government is currently working with the Vietnamese Central Bank with a view towards studying and possibly implementing the use of XRP for cross border payments. Central Bank's consideration of XRPVietnam's Central Bank is actively exploring the integration of XRP for cross-border payments, both domestically and internationally. This move aligns with the region's swift adoption of XRP, driven by its promise of faster, cost-effective and secure cross-border payment services. Ripple's recent collaboration with TPB Bank, a major player in Vietnam's banking sector, is set to fortify the entire XRP ecosystem. In September 2023, SBI Remit, a financial service provider and subsidiary company of Japanese financial services conglomerate SBI Group, initiated an XRP-based remittance service covering Southeast Asian countries like the Philippines, Vietnam and Indonesia. SBI has a long-standing partnership in place with Ripple aimed at launching international payment services. As part of that announcement, SBI confirmed the participation of Malaysia-based cross-border payments hub Tranglo in the project. Crypto adoption and growthDespite legal constraints, Vietnam emerged as a leader in crypto adoption in Asia in 2023 by claiming the third position in Chainalysis’ 2023 Global Crypto Adoption rankings. The region, still adapting to the global rise of cryptocurrencies, is undergoing a transformation. While centralized exchanges dominate in various countries, regional preferences vary. In the Philippines, a noteworthy 20% of the population engages with crypto sites for gaming and gambling. In contrast, Vietnam and Pakistan distinguish themselves with citizens favoring peer-to-peer exchanges. This approach allows direct trading between individuals, bypassing large corporations. A report produced by Kyros Ventures and Coin68 in conjunction with Hong Kong’s Animoca Brands last year found that 76% of Vietnamese crypto holders determine their investment choices based upon recommendations from friends and people within their peer group. The collaboration between regulatory bodies, financial institutions, government and crypto projects illustrates the growing integration of digital assets into traditional financial systems. This latest example pertaining to Vietnam and XRP certainly offers the potential of a much greater level of adoption in the region. While activity within Vietnam may be a key consideration for XRP investors and stakeholders in 2024, the potential for a Ripple initial public offering (IPO) is also something they’re likely to be watching out for. Over the course of the past six months, a Ripple IPO has been the subject of speculation. That speculative interest has likely increased following Circle, the issuer of U.S. dollar stablecoin USDC, filing for an IPO last week.