OKX adds token support for atomicals, runes, doginals and stamps

Korean Web3 Enabler Participates in NFT.NYC 2023The Moon Labs, a Korean Web3 enabler, participated in NFT.NYC 2023 that took place in New York from April 12 to 14, according to Maeil Business Newspaper.Photo by Luca Bravo on UnsplashCollaborations with SuperchiefIn collaboration with New York-based underground artist supporter Superchief Gallery NFT, the Moon Labs advertised its decentralized autonomous organization project LeisureMetaverse on Time Square’s digital screen. Previously, the Moon Labs co-hosted NFT Korea Festival 2023 with Superchief Gallery NFT.A2E incentivization modelThe Moon Labs boasts the web 3.0 community LM Nova, the NFT marketplace PlayNomm, and its native wallet, LM Wallet. In particular, LM Nova has adopted an act-to-earn (A2E) model to provide incentives to users.About NFT.NYCNFT.NYC, one of the world’s largest NFT events, has been held annually since 2018. The show attracted not only crypto entrepreneurs but also artists, investors, and influencers. More than 500 brands took part in the event, and over 1,500 speakers delivered their talks at the conference.The Moon Labs CEO Moon Seong-eok said the company will seize this opportunity to expand global partnerships and further commit to the growth of the NFT ecosystem.

Crypto Features in India-UK Markets DialogueAccording to a press release published by HM Treasury, the 2nd India-UK Financial Markets Dialogue meeting held on Wednesday featured six key themes with crypto featuring among them.©Pexels/SkitterphotoThe event brought officials from both nations together in the first in-person financial dialogue since 2017. While the meeting considered banking, insurance and reinsurance, capital markets, asset management and sustainable finance, it also allotted time to discuss payments and crypto-assets.CBDC knowledge sharingBoth sets of officials discussed the scope for augmenting knowledge on Central Bank Digital Currencies (CBDC) by way of mutual learning. The officials agreed on the importance of robust global approaches relative to the emergence and development of crypto-assets internationally. The joint statement issued following the meeting revealed that progress relative to the G20 roadmap for enhancing cross-border payments was a matter which was discussed. It’s an item that could have major implications for the use of cryptocurrency in cross border transactions.Global collaborationThe meeting marks another move towards greater global collaboration on policy and regulation relative to digital payment systems and crypto assets. Earlier this month, India’s Finance Minister Nirmala Sitharaman said that the introduction of any new regulations on digital assets needs to be coordinated on a global basis. “The G20 and its members agree that it’s not going to be possible to have an independent, standalone country dealing with crypto assets”, Sitharaman stated at a news conference following a meeting of central bank governors and G20 finance ministers.There’s a growing recognition among politicians, government and central bank officials that decentralized money doesn’t end at a territory’s borders due to its inherently decentralized properties.Taking steps to regulate cryptoWhile on the one hand strategizing as to how digital assets can be best controlled on a global level, India is also taking its own individual steps towards national regulatory action. Recently, it expanded its Prevention of Money Laundering Act (PMLA) to include consideration of digital assets. The newly amended PMLA will now deal with the exchange of digital assets for fiat money and vice versa. It also considers safekeeping, transfer and administration relative to cryptocurrency. Furthermore, its broadened scope deals with financial services offered related to virtual or digital assets.Rajagopal Menon, the VP of India’s leading cryptocurrency exchange WazirX, has said that “regulations levied by India have been baby steps toward institutional participation in the crypto exchange.” While market participants in the digital assets space are apprehensive about the regulatory measures that governments and state regulators choose to adopt, so long as the objective isn’t to regulate the innovation out of existence, such developments can have a profoundly positive effect on the digital assets market.There’s no doubt that in line with Menon’s point relative to the Indian context, the same scenario can play out in all digital markets given the application of the right regulatory approach. Institutional investment for the most part has eluded crypto despite many already heralding its arrival in recent years. Institutions move slowly and the only way in which they will be comfortable in working with digital assets is with complete regulatory clarity having been set out.So while some in crypto may be concerned at the mention of global regulatory coordination in respect of digital assets, so long as it doesn’t go too far, greater work towards improved regulatory clarity in the digital assets market can be a catalyst for further adoption and growth in India, the UK and further afield.

Datachain Secures Funding from Japan’s MUFG to Advance Blockchain Interoperability InitiativesDatachain, a Japanese blockchain interoperability solution provider, has secured funding from Mitsubishi UFJ Financial Group (MUFJ), one of Japan’s largest banking institutions, according to a press release. This investment will boost their collaboration as they work together to advance ongoing initiatives involving stablecoins, security tokens, and cross-chain technology.Photo by Shubham Dhage on UnsplashGrowing token marketIn a joint report by the Boston Consulting Group (BCG) and Singapore-based investment platform ADDX, it is projected that the market for illiquid asset tokenization could reach $16.1 trillion by 2030 (as a conservative estimate) or potentially $68 trillion in a best-case scenario. This growth in the illiquid asset tokenization market, coupled with the expanding stablecoins and cryptocurrencies market, is expected to drive the overall digital asset market’s expansion.Cross-chain techDatachain will collaborate with MUFG and other partners to develop an infrastructure that enables the transfer of digital assets across different blockchains. Boasting prowess in cross-chain technology, Datachain has been conducting tests and collaborative research with numerous companies in Japan and abroad. Notably, Datachain has been working closely with MUFG to drive initiatives utilizing stablecoins scheduled for issuance and distribution through the Progmat Coin stablecoin platform.Moreover, Datachain, MUFG, and cross-chain bridge provider TOKI will form a three-way partnership aimed at commercializing the issuance and distribution of stablecoins on public blockchains like Ethereum between April and June 2024.Datachain is also collaborating with MUFG to promote cross-chain settlements involving security tokens based on stablecoins. Their goal is to realize this initiative in cooperation with securities firms by 2024.Starting with this new funding, Datachain plans to expedite its business expansion by seeking investments from other companies that can create synergies.Tomohiro Kimura, Director and Managing Executive Officer at MUFG, commented on the investment, emphasizing MUFG’s commitment to the digital asset market’s anticipated growth. According to Kimura, MUFG has established and promoted Progmat Coin in preparation for the expanding digital asset market. Highlighting that multi-chain and cross-chain transactions are essential to the future of digital assets, Kimura expressed delight over MUFG’s investment in Datachain, citing the blockchain company’s unparalleled expertise in key technology areas such as multichains and cross-chain transactions. He also highlighted MUFG’s increased involvement as a shareholder in Datachain, underlining its dedication to making a substantial impact in the digital asset market.