Companies

LuLu Exchange, a financial services company in the United Arab Emirates (UAE), and Pakistan’s Bank Alfalah are partnering to bring faster and more cost-effective cross-border payments and remittances from the UAE to Pakistan using RippleNet. Fast facts Bank Alfalah’s integration with RippleNet — Ripple’s global payments network for financial institutions — and its launch with […]

Cryptocurrency prices dropped again this morning Asia time, with Bitcoin and Ethereum trading 7% and 8% lower respectively in 24-hour trading, according to CoinGecko data. In the meanwhile, a new CoinShares report on institutional investing in cryptocurrency found record inflows year-to-date, suggesting that big investors overall are still bullish on crypto. Fast facts Bitcoin — the […]

Animoca Brands, a Hong Kong-based blockchain gaming unicorn, announced today that it has teamed up with Cube Entertainment, a major K-pop entertainment agency, to form a joint venture dedicated to building a music metaverse and issuing non-fungible tokens (NFTs), joining a slew of K-pop labels to make forays into the NFT and metaverse space. Fast […]

The Financial Intelligence Unit (FIU) has accepted Coinone’s compliance report with South Korea’s latest crypto regulations, while Bithumb is left as the only crypto trading platform out of the country’s four major exchanges to not be officially registered under the FIU. Fast facts Coinone became the third official cryptocurrency exchange of South Korea, following Upbit […]

More than 100,000 consumers used China’s central bank digital currency (CBDC) to make some 240,000 purchases on China’s top e-commerce platform JD.com on the annual shopping festival Double 11 [11.11], according to the platform’s report. Yet that is likely only a fraction of total Nov. 11 digital sales. Fast facts Double11 refers to a Chinese […]

Pony Ma, chairman and CEO of Tencent — the Chinese payments and social media giant that is also the world’s biggest video games vendor — said in the company’s third-quarter performance call this week that the metaverse is “very exciting, but a little bit vague,” and “an opportunity that really adds growth to the existing […]

In a 48-second, computer-generated 3D animation, ROK uses a decentralized format to offer an ironic take on China’s internet giants crowding to host the shopping holiday.

Trying to move beyond XRP, Ripple hopes its customers will join RippleNet with a wallet that supports fiat and other cryptos like Bitcoin and Ether.

FTX founder and CEO Sam Bankman-Fried says building products that people want is what matters most, and the crypto industry and regulators will need to find compromises to resolve some of the industry’s pressing issues.

The Indian government is looking to introduce a cryptocurrency bill in the winter session of parliament in a bid to “fast track” regulation of a rapidly growing ecosystem, CNBC-TV18 reported. Fast facts India first drafted a bill to ban all cryptocurrencies in the budget session of 2021, but it was never tabled for discussions. Officials […]

While El Salvador carved out its place in history as the first country in the world to adopt Bitcoin as legal tender, there are others that may follow for an array of reasons.

From China’s crackdowns to El Salvador’s Bitcoin adoption, where is the world headed in how governments regard crypto? An expert panel explores the future of decentralized finance in the global economy.

Apple CEO Tim Cook has revealed that he owns cryptocurrency during a discussion yesterday at the New York Times’ Dealbook conference, responding to a question as to whether he owned either Bitcoin or Ethereum. Fast facts While he did not reveal which cryptocurrencies he held, the tech boss said in an interview with Andrew Ross […]

Cryptocurrency exchange Huobi Global will stop serving Singapore-based customers from March 31, 2022 to comply with Singapore laws, according to a company announcement on Nov. 9. Fast facts “To comply with the laws of Singapore, we will have to include Singapore as a restricted jurisdiction. Regrettably, this means Huobi Global can no longer offer services […]

The largest U.S.-based cryptocurrency exchange, Coinbase, earned just US$406 million net income in Q3 this year — a 74.7% decline over the previous quarter — according to the company’s investor earnings report released yesterday. Fast facts That figure represents a 500% increase over Q3 last year, but is significantly less than the US$1.6 billion in […]

Crypto market cap breaks US$3 trillion, also APAC crypto cards to launch

Affinidi, a Singapore-based technology company founded by state-owned investment firm Temasek, today announced the launch of a new business unit called Finnovate that aims to serve millions of underbanked individuals and small and medium enterprises across Southeast Asia by leveraging on Web 3.0 blockchain technologies. Fast facts Affinidi Finnovate is partnering with the financial services […]

New Jersey-based crypto banking services provider BlockFi and investment management firm Neuberger Berman jointly filed for a Bitcoin spot exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission on Tuesday. Fast facts In September, the U.S. got its first Bitcoin-linked ETF with the launch of ProShares Bitcoin Strategy Fund. But ProShares’ ETF was backed […]

Signaling increased confidence in the future of digital assets, cryptocurrency investment products saw institutional investment inflows of US$174 million last week — the 12th consecutive week of inflows — bringing year-to-date inflows to a record US$8.9 billion, according to digital assets manager CoinShares. Fast facts Institutional investment into crypto products have surged this year with […]

Mastercard has partnered with three crypto companies in Asia Pacific — Hong Kong-based Amber Group, Bitkub in Thailand, and CoinJar in Australia — to launch crypto-funded payment cards, according to a Nov. 8 media statement. Fast facts The three companies are the first APAC-based cryptocurrency platforms to join Mastercard’s global Crypto Card Program, which enables […]

Cryptocurrency exchange Huobi Global, which obtained a distributed ledger technology license from the Gibraltar Financial Services Commission in 2018, will be migrating its spot trading services to the regulated entity in Gibraltar (“Huobi Gibraltar”), the company announced today. Fast facts Huobi has received approval from the Gibraltar Financial Services Commission to migrate its cryptocurrency spot […]

Ethereum reached a new all-time price high of US$4,766 earlier today, flying past its previous all-time high record of US$4,634 set five days ago, according to CoinGecko data. Fast facts The world’s second-largest cryptocurrency by market value has been on a record run since late last month. On Oct. 28, Ethereum’s price climbed to US$4,416 for the first time. The […]

hashport, a public utility that facilitates the movement of digital assets between distributed ledger technology networks without the need for a native network token, today announced that it will launch on Nov. 9, according to a media statement. At launch, hashport will connect the Hedera public distributed ledger to the Ethereum and Polygon networks. Fast […]

Solana Ventures, Lightspeed Venture Partners and cryptocurrency exchange FTX today announced that they are partnering to invest US$100 million on gaming studios and projects building on the Solana blockchain. Fast facts “Gaming has a massive opportunity to bring the next billion users to Web3,” said Amy Wu, partner at Lightspeed Venture Partners, in a statement. […]

Canaan sues over patent infringement also, PayTM considers crypto services

Blockdata co-founder Jonathan Knegtel thinks so. Almost a teenager, Bitcoin is reaching a level of maturity that’s defying the predictions of its critics.

Canaan is seeking $14 million in alleged losses from Shenzhen HighSharp Electronic Technology and Sichuan Yinbimei Technology.

DBS Bank — Southeast Asia’s largest lender — intends to scale its crypto exchange as it invests in blockchain and wants to be nimble to adapt to how DeFi evolves.

Blockchain technology company Huobi Group is celebrating its 8th-year anniversary with a slew of events and giveaways — including a space trip “to the outer perimeters of Earth” — and a focus on expanding its global footprint, according to a company announcement. Fast facts Founded in 2013 in China, Huobi has made global expansion a priority […]

On the heels of Facebook, or now Meta, Microsoft and Nike are also racing into the metaverse action. Fast facts Microsoft is introducing a more fun working environment experience by announcing 3D avatar and immersive meeting settings, according to media reports. The Verge reported that Microsoft will use artificial intelligence to listen to the creator’s […]

Cryptocurrency investment products saw inflows of US$288 million last week, with total inflows year-to-date at a record of US$8.7 billion — 30% higher than the total for 2020, according to digital asset manager CoinShares. Fast facts Bitcoin continued to lead with institutional inflows of US$269 million last week, albeit at a significantly lower level compared […]

Ant Group and Tencent recently rebranded NFT projects as digital collectibles amid China state media criticism.

Stablecoins and central bank digital currencies (CBDCs) may not live up to their promise of increasing financial inclusion and improving cross-border payments in emerging markets, according to a new report by the Bank for International Settlements. Fast facts According to the report, the most important contribution of stablecoins is that they have drawn attention to […]

Facebook, now called Meta, is casting off one of the world’s most famous names to retool itself into a metaverse company. Will its $10 billion bet pay off?

Red Date Technology, the company China tapped to manage its Blockchain-based Service Network (BSN), said today it plans to fully launch an infrastructure for non-fungible tokens (NFTs) by the end of January 2022. Fast facts Red Date revealed on Friday an NFT infrastructure plan — BSN-Distributed Digital Certificate (DDC) — at its BSN Open Permissioned […]

Facebook CEO Mark Zuckerberg announced the social media giant is rebranding its corporate name to Meta as it focuses on building out its metaverse vision of an embodied internet with immersive spaces and experiences where people can digitally connect. Fast facts “The metaverse is the next chapter for the internet and it’s the next chapter […]

Singapore’s DBS Bank — Southeast Asia’s largest lender — has joined the Hedera Governing Council, a diverse group of companies that governs and supports the Hedera network, an enterprise-grade public ledger of transactions, according to a media statement. Fast facts DBS — the first and only bank in Southeast Asia to join the Governing Council […]

Recent developments indicate the government is looking to regulate the sector instead of quashing it, and industry experts remain optimistic. 

Top blockchain and crypto news: Is Tesla’s turbocharge a boost for Bitcoin? Mastercard’s Bakkt with a new crypto deal. Chinese NFTs on knife-edge.

Fee-free trading platform Robinhood’s crypto revenue declined 78% in the third quarter this year, earning only US$51 million during that time according to the company’s Q3 report released Tuesday. This is compared to the US$233 million the company earned in the previous quarter in which the market hit the height of the bull run, from […]

San Francisco-based blockchain payments company Ripple has partnered with Pyypl, a blockchain-based financial services technology company in the Middle East and Africa, to use XRP for cross-border payments in the Middle East, according to a company statement. Fast facts The partnership with Pyypl marks RippleNet’s first-ever On-Demand Liquidity (ODL) deployment in the Middle East and […]

Binance NFT, the non-fungible token (NFT) marketplace of Binance, has launched Initial Game Offerings (IGOs) for customers to invest in gaming NFTs projects at an early stage, according to a Binance blog post. Fast facts The IGOs will feature NFT collections from top-tier gaming projects that are available exclusively on the Binance NFT marketplace, Binance […]

New virtual worlds are full of opportunities, writes Sandra Helou of Zilliqa. But what if real-world problems get magnified in the metaverse?

The Singapore government-incubated blockchain platform promises to dramatically speed up transactions and lower the cost of international trade.

Tech giants banish non-fungible token references as Beijing looks down new virtual asset market.

The nation’s elections commission wants to upgrade its voting technology to improve voter turnout and public trust. Does blockchain check the boxes?

Payments giant Mastercard and cryptocurrencies firm Bakkt Holdings Inc. announced on Monday they have partnered to facilitate cryptocurrency debit and credit card payments. The partnership will make it easier for merchants, banks and fintechs in the U.S. to offer a broad set of cryptocurrency services and ​​enable consumers to buy and sell digital assets through […]

Crypto investment products saw record inflows last week of US$1.47 billion, with Bitcoin accounting for 99% of the inflows, according to digital assets fund manager CoinShares. Total crypto assets under management also reached a new peak of US$79.2 billion. Fast facts Bitcoin investment products saw record inflows of US$1.45 billion last week. “The record inflows […]

Proshares files for exemption meanwhile Shiba Inu hits all-time high

Hong Kong-based blockchain technology company digiXnode Technology Ltd. today officially launched an exclusive service portal — for users in Hong Kong and Macau — that grants access to the Blockchain-based Service Network (BSN), China’s public-private nationwide infrastructure project to spur mass adoption of blockchain technology. Fast facts By subscribing to the service from digiXnode’s website […]

A lawmaker claims authorities gave the country’s largest crypto exchange privilege in meeting government requirements.

Chinese internet giant Tencent reportedly plans to bet big on the metaverse — a trending idea on building a virtual world typically with the support of virtual and augmented reality technologies — and is looking to build an advanced gaming studio for that, the South China Morning Post reported on Wednesday, citing sources familiar with […]

Just three months after closing a record US$1 billion series B, the two-year-old cryptocurrency exchange is now valued at US$25 billion. Fast facts The US$420,690,000 Series B-1 funding round saw the participation of 69 investors, with prominent names the lineup, including Ontario Teachers’ Pension Plan Board, via its Teachers’ Innovation Platform, Singapore’s state-owned investment firm […]

Despite its legal troubles in the U.S., San Francisco-based blockchain payments company Ripple has been pushing ahead to bring faster and cheaper cross-border payments using XRP in Asia and the Middle East. Fast facts Ripple and Tranglo, a Malaysia-based cross-border payments provider, today announced that Tranglo has launched its first live On-Demand Liquidity (ODL) service […]

Electric carmaker Tesla Motors, Inc. (TSLA) on Wednesday reported that its third-quarter revenue surged 57% to US$13.76 billion from US$8.77 billion last year, and a net income of US$1.62 billion for the quarter. However, the company’s digital assets were hit by a Bitcoin-related impairment of US$51 million, down to US$1.26 billion in digital assets from […]

Animoca Brands, a Hong Kong-based blockchain gaming, metaverse and non-fungible token (NFT) company, has closed a capital raise for US$65 million at a pre-money valuation of US$2.2 billion, according to a company statement. Fast facts Investors in the round included Liberty City Ventures, Ubisoft Entertainment, Sequoia China, Dragonfly Capital, Token Bay Capital and Justin Sun, […]

Huobi Japan has been granted approval to offer crypto derivatives as a Type I Financial Instruments Business by Japan’s Financial Services Agency (FSA) — the regulator for financial services in Japan — according to a company statement this week. Fast facts Huobi Japan currently offers spot trading for 14 cryptocurrencies, including Bitcoin, Ethereum and Huobi […]

Top blockchain and cryptocurrency news: Bitcoin grows up. Facebook’s metaverse journey. China’s crypto investors find a workaround.

A group of U.S. lawmakers called on Facebook to halt its cryptocurrency and digital wallet project Novi hours after its pilot launch began on Tuesday, amid the company’s ongoing trust crisis. Senators Brian Schatz (D-HI), Sherrod Brown (D-OH), Elizabeth Warren (D-MA), Richard Blumenthal (D-CT) and Tina Smith (D-MN) said the tech giant “cannot be trusted […]

Some are registering companies overseas, via — you guessed it — Taobao vendors.

Facebook says it will create 10,000 jobs in the European Union over the next five years to build its highly anticipated metaverse — a digital platform that utilizes technology such as virtual and augmented reality that the company says has the potential to unlock new creative, social and economic opportunities. Fast facts According to a […]

As excitement grew over the imminent approval of Bitcoin futures exchange traded funds (ETFs) in the United States, Bitcoin investment products saw inflows of US$70 million last week — the fifth consecutive week of inflows — while Ethereum saw outflows of US$1 million, according to digital assets manager CoinShares. Fast facts According to CoinShares, the total […]

Tether, the issuer of the world’s most popular stablecoin USDT, has been fined US$41 million by the U.S. Commodity Futures Trading Commission (CFTC) over “untrue or misleading” claims that its USDT stablecoin was fully backed by corresponding fiat currencies. Fast facts The CFTC said in a Friday statement that from at least June 1, 2016 to […]

But Ripple says its 5,000 pages of requests for admission to SEC are reasonable and could cut down on trial time.

Ripple, a San Francisco-based blockchain payments company, has joined the Digital Pound Foundation, a non-profit organization supporting the implementation of a digital pound in the United Kingdom, according to a Ripple blog post. Fast facts As a foundation member, Ripple will be represented on the board by Susan Friedman, Ripple’s head of policy. Other foundation […]

Binance — the world’s biggest cryptocurrency by trading volume — today announced the appointment of Mark McGinness, former head of international relations at the Dubai Financial Services Authority (DFSA), as its chief regulatory liaison officer, according to a company statement. Fast facts McGinness’ appointment comes as Binance bolsters its compliance efforts and navigates regulatory headwinds […]

China’s Blockchain-based Service Network (BSN) — a public-private nationwide infrastructure project to spur mass adoption of blockchain technology — is partnering with a New York-based blockchain company to advance interoperability as BSN actively expands its global presence to lure more developers to use the blockchain network. Fast facts Cypherium, a smart contract technology provider focusing on central […]

Coinbase and Binance move to diversify meanwhile Stablecoins under scrutiny

Crypto miners in China may be under siege and driven out of business or forced to flee to friendlier shores. But one corner of the country’s crypto mining industry — the mining machine manufacturers — does not seem to be affected much. Chinese mining rig maker Bitmain, for example, has recently secured a deal with […]

As non-crypto players like Twitter and PayPal take up digital assets, Coinbase, Binance and others look for ways to expand offerings.

Binance — the largest cryptocurrency exchange in the world by market value — is set to close down the yuan trading feature on its customer-to-customer platform on Dec. 31, the company said today in a statement, in a move to “meet regulatory requirements of the local government.” Fast facts Binance also said it will conduct […]

Hong Kong-based digital asset custodian Hex Trust has integrated enterprise-grade public blockchain network Hedera Hashgraph into its Hex Safe custody platform, the company announced today. Fast facts With the integration, Hex Trust’s Hex Safe custody platform will support HBAR — the Hedera network’s native cryptocurrency — and tokens issued using the Hedera Token Service (HTS), […]