Binance Set For Japanese Market Re-Entry With 34 Token Listings

South Korea is weighing a fiat-backed stablecoin, balancing monetary sovereignty against the fact that global stablecoins are dominated by the U.S. dollar while domestic payments are already near-instant.Photo by DrawKit Illustrations on UnsplashThin domestic need despite sovereignty aimsThe case for a won-pegged token is facing challenging headwinds. As a recent Korea Economic Daily report highlighted, skeptics argue the won's limited global demand and lack of reserve currency status would curb its adoption internationally. Domestically, the need is even less apparent. A study by NH Investment & Securities noted that with retail payments settling in seconds via biometrics or passwords, and with world-leading credit card and bank account penetration, the efficiency gains from a stablecoin are marginal at best. Despite this, the appeal of digital currencies is growing. Transactions in dollar-backed stablecoins USDT and USDC on Korea’s five main exchanges totaled nearly $71 billion between January and August, according to CryptoQuant. This rising adoption presents both an opportunity and a threat. While some analysts believe stablecoins could smooth exchange-rate volatility, the Bank of Korea (BOK) has expressed concern. In a recent working paper, Son Min-kyu of the central bank commented that the widespread use of dollar-backed stablecoins could entrench the dollar's dominance, while also amplifying run risk and market volatility in Treasuries during periods of stress. Scarce short-term collateralSeoul also faces a unique structural hurdle: a shortage of short-term government bonds to use as collateral. Unlike the U.S., where stablecoin issuers rely on a deep market for Treasury bills, Korea’s bond market is dominated by long-dated paper. Kim Pil-kyu of the Korea Capital Market Institute (KCMI) described short-term sovereign bills as vital for a stablecoin’s value preservation, a resource Korea currently lacks. As South Korea deliberates, other major economies are forging ahead on divergent paths. Japan is moving to authorize privately issued stablecoins this fall, while the European Union has brought them under its comprehensive Markets in Crypto-Assets (MiCA) regulation. UK’s cap plan clashes with pro-innovation pushThis regulatory balancing act is also playing out in the U.K., where a policy rift is emerging. According to the Financial Times, the Bank of England has proposed capping individual holdings of widely used stablecoins at £10,000–£20,000, with a £10 million limit for businesses. Industry groups argue the plan would be expensive to implement and could blunt the U.K.’s competitive edge in digital finance. The central bank's caution also contrasts with the government's pro-innovation stance, with finance minister Rachel Reeves recently pledging to promote the use of stablecoins and tokenized securities. For Seoul, the global shift toward tokenized money is undeniable. With seemingly limited domestic demand and various structural challenges, a won-backed stablecoin is, for now, an idea worth watching as the broader financial landscape evolves. 

South Korean Web3 and metaverse game developer OneUniverse announced today that the Champions Mystic Box NFT collection for its Web3 role-playing game (RPG) Champions Arena has sold out in just an hour, according to local news outlet GameTOC on Wednesday (KST), making it the game’s second NFT collection to be completely sold out. Photo by Jack B on UnsplashUnveiling the Champions Mystic BoxA subject of high anticipation among gamers, the Champions Mystic Box includes the game's highest-tiered NFT as well as a new Champion that was revealed for the first time. It also includes an aid with a one-year time limit that was leveraged for driving user response, according to OneUniverse. Prior to the NFT pre-sale, Choi Hwan-jin, the new producer-director (PD) of Champions Arena, held an Ask-Me-Anything (AMA) session with the gaming platform Gala Games to discuss the RPG's updates and improvements, which also contributed to a successful pre-sale. "We are delighted that the first NFT pre-sale after the game’s PD transition sold out so quickly," said Se-jun Go, CEO of OneUniverse. "We will continue to deliver on the game improvement plans we promised our users before the transition and strive to meet their expectations." Diving into the realms of Champions ArenaChampions Arena launched worldwide in August last year and has since then gained popularity for its real-time tactical battles where gamers can collect over 100 adaptable and customizable NFT Champions and various other in-game items. Players can also battle solo or in guilds.  The game is currently available for download on both PC and mobile on the Google Play Store, Apple App Store and Gala Games platform.

Hanyang University, one of South Korea’s most prestigious educational institutions, has embarked on launching a new major dedicated to Bitcoin and cryptocurrencies, named "Bitcoin Philosophy" at its graduate school. Yoon Seong-ho, the vice dean of the College of Humanities, will spearhead organizing the new major and overseeing its courses, according to local media ETNews.  The Bitcoin Philosophy major merges two different academic fields – philosophy and emerging blockchain studies. This unprecedented combination has drawn the attention of many local crypto investors and industry insiders. Typically, crypto or blockchain experts in Korea have educational backgrounds in computer science, software engineering, information security studies or cryptology. Photo by Karolina Grabowska on PexelsHumanistic approach to cryptocurrency The school stated that the planned major will be taking a humanistic approach to Bitcoin and cryptocurrencies, focusing less on their technological aspects. The specifics of the courses, however, are yet to be disclosed.  Hanyang University is no stranger when it comes to blockchain and cryptocurrencies. The institution has already established the Department of Blockchain Computing and Cryptoeconomics back in 2018, which started enrolling students the following year. Currently, around 20 experts from across various fields including engineering, business management, law and medicine, serve as faculty members.  Furthermore, the school is considering a proposal to establish a "Bitcoin Philosophy Research Center" on campus and dedicated courses for the Advanced Management Program (AMP). If approved, admissions for the new crypto major could open as early as next year.