Metabora Singapore Launches Global Pre-Registration for PvP Gaming Platform ‘Skill Blitz’

Korean Conference Captures Interest of NFT and Blockchain Game EnthusiastsNews of the upcoming NFT and Blockchain Game Conference is sure to excite gaming enthusiasts with a keen interest in these technologies. Organized by ZDNet Korea, a tech news outlet, the conference is scheduled to take place on June 27 in the Pangyo Techno Valley, located on the outskirts of Seoul, Korea.Photo by Mateo on UnsplashPolicy and future strategiesThe event will delve into various aspects of the gaming industry, including policy and future strategies, with a specific focus on innovative technologies such as non-fungible tokens (NFTs), cloud computing, and cryptocurrency wallets. Attendees can expect valuable insights and engaging discussions on how these advancements are shaping the future of gaming.Prominent firms to share insightsHosted by the Korea Game Media Association (KGMA), the conference will kick off with a keynote speech by Jae Park, the Korea Country Manager of the global crypto exchange XT.COM. Park will share his expertise on the NFT gaming industry and discuss success strategies. Following Park’s speech, representatives from prominent companies at home and abroad, including Nexon, Marblex, NPIXEL, Polygon Labs, and Alibaba Cloud, will take the stage.Hwang Sun-young, Production Director at Korean game publisher Nexon, will explain Nexon’s implementation of blockchain technology in their projects. Hwang previously attended the Game Developers Conference (GDC) 2023 in San Francisco, where Nexon unveiled the blockchain gaming ecosystem “MapleStory Universe” in partnership with Polygon, a layer 2 scaling solution on Ethereum. MapleStory is Nexon’s blockbuster side-scrolling massively multiplayer online role-playing game (MMORPG).Jake Moon, COO of Marblex, will discuss the endeavors of the Marblex Web3 game ecosystem. Park Sung-mo, Head of Business Development at Polygon Labs, will shed light on the role of the mainnet in the blockchain industry.Ko Jeong-hwan, Head of Web3 at NPIXEL, will provide insights into how Web3 enhances the gaming experience. Lim Jong-jin, Tech Team Lead in Korea at Alibaba Cloud, will introduce the Alibaba Cloud ecosystem and platform that supports Web3.Kim Oh-joong, CEO of Find The Gap, will review incidents related to NFT and game hacking, along with potential solutions. James Kwak, Director of the Business Development Department at BPMG, will deliver a talk on Web3 and wallets.KGMA President Lee Taek-su told ZDNet Korea that NFTs and the blockchain have emerged as important concepts in the global gaming industry. He highlighted that the conference would provide an opportunity to review the efforts undertaken by Korean game companies in the blockchain sphere and raise awareness of the need to embrace the changing paradigm in the sector.

Bybit Overhauls Institutional Trading Platform Bybit InstitutionalDubai-headquartered crypto exchange Bybit has announced the launch of its newly revamped institutional trading platform, Bybit Institutional.Bybit outlined details of the refreshed product offering which the company hopes will provide institutional clients with an elevated trading experience, via a blog post published to its website on Wednesday.The revamped Bybit Institutional platform claims to have introduced a host of new features that it hopes will distinguish it from competitor offerings:Photo by Gerd Altmann on PixabayLiquidityThe platform claims to be one of the largest in terms of open interest for crypto derivatives trading. This position allows for high trading volumes, creating frequent opportunities for clients to enter and exit positions. This heightened trading activity allows clients to execute orders without causing significant market price fluctuations.Asset safetyFollowing the spectacular failure of a number of crypto platforms in 2022, a lot of emphasis is being placed on client asset safety in 2023. Proof of reserve audits has been adopted by some platforms as a direct response to these failures. Bybit Institutional is offering that fail-safe in an effort to demonstrate that it maintains cryptocurrency reserves to cover all client holdings.Between routine audits, the use of robust security frameworks, multi-factor authentication, encryption, and other measures, the platform feels that it is prioritizing the security of client assets. Moreover, clients are also offered the option to utilize third-party custodial services for off-exchange settlement of trades and long-term asset storage.Fee structure optimizationThe platform is offering a fee structure that it claims to have tailored to maximize cost-efficiency for institutional traders. A customized fee schedule has been incorporated, based on trading volumes and strategies, and aimed at supporting institutions’ objectives of reducing trading costs while optimizing their returns.Eugene Cheung, Vice President and Head of Bybit Institutional, expressed his enthusiasm for the platform’s refreshed product offering, stating:“We are thrilled to introduce the new Bybit Institutional page, designed to cater specifically to the needs of our institutional clients. With our deep liquidity, commitment to asset safety, and cost-efficient fee structure, we aim to provide a seamless trading experience for institutions of all sizes.”Bybit Institutional has partnered with significant players within the industry in bringing its offering to market, such as Fireblocks, Copper, and Circle.Blockchain LifeThe United Arab Emirates-based exchange is also a participant in next week’s Blockchain Life 2023 event in Dubai, the 11th international forum on cryptocurrencies, blockchain, and mining. Cheung will participate as one of the panelists at the event on October 24. Titled “Crypto Market Outlook: Insights and Forecasts From Top Crypto Exchanges,” the panel of industry experts will delve into the current crypto landscape, emerging trends, and future forecasts.Bybit’s launch of the enhanced Bybit Institutional trading platform is indicative of the interest that exists between a range of market participants in cornering institutional business. UK bank Standard Chartered, through its Singapore-based subsidiary Standard Chartered Ventures and portfolio companies Zodia Custody and Zodia Markets, is also making a concerted effort to muscle in on this market segment.

Leading cryptocurrency exchange platform Bybit has joined a growing list of competing platforms by applying for a Virtual Asset Trading Platform Operator (VATP) license with the Hong Kong Securities and Exchange Commission (SFC). The application, submitted through the Bybit affiliate business entity Spark Fintech Limited on Jan. 31, is currently under review along with 13 similar VATP applications.Photo by Simon Zhu on UnsplashStrategic licensing playIn the dynamic landscape of cryptocurrency regulations, obtaining a VATP license in Hong Kong is a strategic move. Currently, only two crypto exchanges, OSL and HashKey Exchange, are licensed by the SFC in Hong Kong. OSL secured its license on Dec. 15, 2020, while HashKey Exchange was licensed on Nov. 9, 2022. Under a partnership agreement with OSL, Interactive Brokers has been enabled in its ability to commence trading in Hong Kong. Exchanges who have followed through on the license application process include OKX, Gate.io, and KuCoin, among others. It’s not something that is being taken on without these platforms weighing up the long term potential due to the cost implications. It emerged last year that companies were spending up to $25 million in their efforts to obtain licensing in Hong Kong. VATP vs. VASP licensingThe VATP license holds significance as it allows Hong Kong-based firms to cater to retail customers in contrast to the Virtual Asset Service Provider (VASP) license, which restricts companies to serving professional investors. In Hong Kong, investors must have portfolios valued at a minimum of eight million Hong Kong dollars ($1.03 million) to qualify for professional investor status. Hong Kong has positioned itself as a leading destination for crypto companies, particularly in 2023, owing to its favorable regulatory approach compared to mainland China's stringent crackdown on digital assets. The SFC has introduced crypto-oriented regulations, opening doors for both institutional and retail investors to participate in the crypto market. This regulatory environment has contributed to the city-state's emergence as a hub for crypto activities. Dubai-headquartered Bybit's move to seek a VATP license aligns with the growing trend of crypto companies finding a home in Hong Kong. In a statement, Ben Zhou, the founder and CEO of Bybit, emphasized the city's strategic location and established financial infrastructure as ideal for their operations and serving institutional clients across the Asia Pacific region. Institutional offeringAs part of its strategy to grow its institutional customer base, the company revamped its institutional market offering last October. With that institutional business in mind, it has also formed strategic partnerships, including collaborating with Talos, an institutional digital asset trading technology provider, and joining forces with Copper to offer custodial and settlement services for institutional clients through Copper's ClearLoop service. Bybit, launched in 2018 by Zhou, boasts a substantial user base, serving over 22 million registered users in 160 countries globally. Claiming a daily trading volume of $16.53 billion, Bybit holds the fifth-highest score among spot exchanges worldwide and is the second-ranked derivatives exchange, trailing only behind Binance, according to CoinMarketCap data. The exchange has consistently ranked in the top positions for futures and perpetuals trading throughout the last calendar year.