JD.com registers ‘JCOIN’ & ‘JOYCOIN’ ahead of Hong Kong’s Stablecoin Ordinance

Web3 Cybersecurity Firm Zyber 365 Raises $100M in FundingZyber 365, a pioneering Web3 startup that combines AI, Web3, and cybersecurity, has recently secured $100 million in funding from the UK-based SRAM & MRAM Group.Photo by micheile henderson on Unsplash$1.2 billion valuationThe substantial investment places Zyber 365’s valuation at an impressive $1.2 billion, while marking a significant milestone for the company, underscoring its promising trajectory.Although now headquartered in London, the company’s origins stem from India with a set of Indian founders, while the firm continues to maintain its strategic operational base in India.The company was founded earlier this year by Pearl Kapur and ethical hacker Sunny Vaghela. The startup stands out for its groundbreaking approach to cybersecurity, offering a decentralized and cyber-secured operating system that upholds the core tenets of environmental sustainability.Indian nucleus of operationsNotably, Zyber 365 has earmarked India as the nucleus of its operations, aiming to harness the nation’s tech talent and vibrant ecosystem to fuel its growth. The recent injection of capital will likely play a pivotal role in amplifying Zyber 365’s expansion initiatives, bolstering its technological capabilities, and cementing its global market presence.The SRAM & MRAM Group, no stranger to the tech investment landscape, has previously demonstrated its confidence in innovative startups. In a similar vein, the group invested $100 million in another India-centric blockchain startup, 5ire, in July of the previous year, valuing it at an impressive $1.5 billion.Broad Web3-based product rangeZyber 365’s portfolio spans a wide spectrum of Web3 products, including Layer-0, Layer-1, and Layer-2 blockchains, decentralized identities, data analytics, a software development kit, a web browser, and even non-fungible token (NFT) marketplaces and initial coin offering (ICO) capabilities.These offerings can be seamlessly integrated as part of a comprehensive Web3 ecosystem or employed as standalone applications tailored to specific user requirements.Sunny Vaghela, the Co-Founder and Chief Product Officer (CPO) of Zyber 365, expressed his enthusiasm about the infusion of capital. He emphasized that this financial boost positions the company to expedite the development of its Web3 and AI products, thereby enhancing its presence in the dynamic tech landscape.Vaghela underscored how Zyber 365’s inventive approach to cybersecurity and its commitment to pioneering technologies set it on a remarkable path toward industry leadership.Mahendra Joshi, Director of the SRAM & MRAM Group, echoed Vaghela’s sentiments, lauding Zyber 365’s exceptional team and disruptive technology. Joshi’s confidence in the investment’s potential to drive outstanding growth and success in the coming years reflects the industry’s anticipation of the startup’s continued evolution.In an era where cybersecurity and innovation are paramount, Zyber 365’s substantial funding from the SRAM & MRAM Group heralds a new phase of growth and advancement. Venture capital investment in the digital assets space has contracted significantly since the last bull market. However, as this deal demonstrates, there are signs of green shoots emerging.With its cutting-edge technology and strategic focus on Web3 and AI, the startup has an opportunity to reshape the landscape of cybersecurity while solidifying its status as an industry trailblazer.

South Korea is holding a joint two-day conference with the Organization for Economic Co-operation and Development (OECD) on Monday to discuss digital finance in the member countries of the Association of Southeast Asian Nations (ASEAN).  Held in partnership with Korea’s Financial Services Commission (FSC) and the Korea Institute of Finance (KIF), the event was titled “OECD-FSC-KIF Roundtable on Digital Finance in ASEAN.” The roundtable intends to bring together many financial experts and high-ranking regulators worldwide, sharing the trend of digital financial frameworks in the ASEAN region while seeking solutions to emerging risks following financial digitalization.  Photo by Evangeline Shaw on UnsplashTwo-day event focusing on digital assets and AI The first day focused on the global market trend relative to digital assets such as central bank digital currency (CBDC) and virtual assets. FSC Vice Chairman Kim So-young, KIF Chairman Lee Hang-yong and OECD Director for Financial and Enterprise Affairs Carmine Di Noia delivered opening remarks, followed by discussion sessions joined by expert panelists. Among the first day’s roundtable agendas were: “Digital assets, CBDCs, tokenization and DLT-based finance: the Asian perspective,” “The limits of DeFi in terms for financial inclusion: Lessons from ASEAN,” “DeFi and crypto assets in ASEAN and beyond” and “Cyber-security in the financial sector.”  The second day focuses on leveraging artificial intelligence (AI) in financial sectors, with sessions titled “Artificial intelligence in Finance: the Asian perspective” and “Generative Artificial Intelligence in Finance in Asia and ASEAN.”  South Korea’s commitment to bolstering global financial cooperation During the roundtable, the FSC Vice Chairman Kim vowed to strengthen global financial cooperation with ASEAN countries. “(We) will continue strengthening our cooperation with other global partners, including ASEAN countries and international organizations, to share latest trends in finance and maintain our system in line with the international regulation norms,” said Kim. 

Dunamu likely to extend CEO Lee’s tenure, ensuring continuity in Upbit leadershipDunamu, the operator of Upbit, South Korea’s largest cryptocurrency exchange, recently convened a board meeting where a key decision was made to extend the term of Lee Sirgoo as Dunamu’s CEO, as reported by local news outlet Newsis, citing industry sources.Photo by Benjamin Child on UnsplashFinal decision on Dec 5The final decision on the extension of CEO Lee’s term at Dunamu is set to be made at the extraordinary general meeting on Dec. 5. The crypto industry is largely confident about Lee’s reappointment, especially given the presence of major executives, including Chairman Song Chi-hyung, at the recent board meeting.Responding to changing regulationsIn light of these developments, industry insiders are keenly observing whether CEO Lee will maintain Upbit’s market dominance in Korea. A key factor influencing Upbit’s future success will be Dunamu’s strategy in adapting to the changing market conditions, particularly in response to the upcoming Virtual Asset User Protection Act, which is due to come into effect in July next year.One source familiar with the matter said that Lee’s reappointment is almost assured, barring the emergence of any unexpected factors.If confirmed, this will mark Lee’s second reappointment as CEO of Dunamu since his first in 2020. This extension would bring his total tenure to nine years, continuing through 2026, considering that he initially assumed leadership in December 2017.Emphasis on stability and blockchain adoptionThis move likely underscores Dunamu’s prioritization of stability, especially considering Chairman Song’s emphasis on the company’s commitment to the widespread adoption of blockchain technology, as highlighted in the recently convened Upbit D Conference (UDC). Such a focus suggests that the company is leaning more towards maintaining its current status rather than embarking on new ventures.An executive from a Korean crypto research firm observed that Dunamu’s annual UDC event is a significant indicator of the company’s business direction. The person highlighted this by comparing it to last year’s event, where Dunamu officials focused on new initiatives, particularly in the realm of NFTs. This was evident in their collaboration with Levvels, a joint venture between Dunamu and HYBE, the management agency of the popular K-pop boy group BTS.The executive further elaborated that the widespread adoption of blockchain technology requires strengthening the Upbit business, an area in which Lee excels. The research expert suggested that if he had diverted his efforts towards other new projects outside of Upbit, the outcomes might have been different.CEO Lee’s ability to steer Upbit effectively in the burgeoning field of blockchain technology can be attributed to his rich academic and professional journey. He holds a diverse academic background with degrees from Seoul National University, the University of Hawaii at Manoa and Lewis & Clark Law School. His career spans journalism, law and corporate leadership, including roles as a reporter for JoongAng Ilbo, counsel for IBM Korea, CEO of NHN USA and co-CEO of Kakao Corporation.