Ken Chia

Hong Kong’s Stablecoins Ordinance comes into effect today (1 August) and marks the implementation of the regulatory regime, introducing a robust regulatory framework for stablecoin issuers. We believe it is better for regulated stablecoin business, which is still in its infancy, to start with stricter regulations to ensure sound operation. With practical experience gained, we will be in a position to be flexible in certain areas. This will be a more suitable approach than dealing with the consequences left by lax regulations. ⚠ Important notice: Please be aware that, as of today, no licence has been issued by the HKMA. We urge the public to stay vigilant to any persons who claim to be regulated or licensed stablecoin issuers in Hong Kong. Follow our social media channels and visit the HKMA website for more details and the latest development on the licensing regime. #HKMAInnovates #StablecoinRegulation #ResponsibleInnovation #DigitalAssetEcosystem #FinancialStability #AntiScam

593

4 Comments

Avalanche is powering a new milestone in Korea’s digital asset market. BDACS, together with Woori Bank, has launched KRW1, a fully collateralized, won-backed stablecoin. Currently in a pilot phase following a full PoC, KRW1 marks an important step toward regulated, bank-integrated digital money in Korea. Key Highlights: 🔺 1:1 collateralization — every KRW1 is backed by won held in escrow at Woori Bank 🔺 Real-time proof of reserves — transparent and verifiable via banking API integration 🔺 Bank participation — Woori Bank’s direct involvement in the PoC underscores the critical role banks can play in stablecoin ecosystems 🔺 Institutional-grade infrastructure — launched on Avalanche, recognized by KISA for reliability and security KRW1 is designed for payments, remittances, investments, and public-sector programs, including low-cost settlement systems for emergency relief disbursements. As Korea advances its Digital Asset Basic Act, KRW1 is positioned to serve as a model for how banks, institutions, and blockchain can converge to build the foundation of the digital economy. More on KRW1 below: https://krw1.kr/en/

183

4 Comments

🚀 Animoca’s Yat Siu on CNBC: The Next Phase of Web3 Adoption In his recent CNBC interview, Yat Siu, Chairman of Animoca Brands, shared powerful insights on the evolving crypto ecosystem and what it means for businesses and investors: 🔹 Bitcoin vs. Ethereum ·       Bitcoin = Digital Gold: A store of value, rarely spent. ·       Ethereum = Utility: With ~$100B in total value locked, it powers stablecoins, NFTs, and L2s. Because ETH is used and spent, its rise fuels broader ecosystem growth. 🔹 The Coming Altcoin Wave As ETH strengthens (with predictions of $6K–$10K ahead), capital will cascade into altcoins and Web3 ecosystems. Corporates moving treasury allocations from BTC → ETH → other tokens show how adoption will spread across the industry. 🔹 Internet Money → Internet Customers Accepting tokens isn’t only a payment play. It’s access to a loyal, liquid, and growing community. Just like selling in different fiat currencies, offering goods in ETH, SAND, or other tokens lowers friction and builds deeper engagement. 🔹 A New Global Wealth Class and 🌍 The Big Picture Over 500 million people worldwide now own crypto and digital assets. This isn’t just about asset prices – it’s a massive new customer base. Luxury brands were early movers, integrating NFTs and Web3 strategies to reach this audience. The token economy already represents $4T+ in market cap. Every cycle of adoption redistributes value across projects, creating new opportunities for builders, brands, and investors alike. 🙌 At True Global Ventures, we share Yat’s conviction: the real story isn’t just crypto prices, but the transformation of money into a new internet-native customer economy. 👀 Watch the interview: https://lnkd.in/grXu26Em

164

20 Comments

In what is typically a quiet July, SGX TWD/USD Full-Sized Futures broke records, driven by stronger liquidity provider engagement. As the world’s only actively traded Taiwan Dollar futures, it crossed the first $100 million DAV milestone, closed the month with US$ 129 million DAV, with open interest increasing by 63% month-to-month to US$13 million—a clear sign of growing market confidence. (Bloomberg ticker: XDWA <Curncy> CT) SGX USD/CNH FX call options were also noteworthy, with open interest in calls (5,149 lots) far outpacing puts (2,286 lots), resulting in a put/call ratio of 0.4. Implied volatility remains near historical lows, and calls are priced more attractively relative to puts. Despite a 0.72% CNH depreciation against USD, the move was milder compared to other Asian currencies. (Bloomberg ticker: XUC1 <Curncy> OMON) Meanwhile, our recently launched SGX BRL/USD Full-Sized Futures has been gaining traction. In July, it recorded US$131 million in DAV, with over 90% of trades executed during Asian hours at competitive bid-ask spreads of 5–10 bps, reflecting the demand for BRL trading outside onshore hours. (Bloomberg ticker: BRLA <Curncy> CT) 📖 Uncover more market highlights in our latest Listed FX Derivatives report by clicking on the link in the comments section! #SGX #SGXFX #FX #futures #options #CNH #TWD #BRL #INR #KRW 

40

1 Comment

🚀 Stablecoins + QR Payments = A New Era for Vietnam 🇻🇳 The payments world is shifting—from cash and cards to borderless digital dollars. Stablecoins like USDT and USDC are no longer just tools for traders. They’re becoming the fastest, cheapest, and most inclusive way to pay for anything, anywhere. 💡 The numbers: • The global stablecoin market is worth $230B+ today—and growing fast. • Stablecoins offer instant settlement, low fees, and 24/7 global reach. • For the 1.4 billion people without reliable banking access, all you need is a smartphone to connect to the global economy. ⸻ Why Vietnam? Vietnam is one of the fastest-growing digital economies in Southeast Asia. 📊 Key facts: • Mobile payment volume: $226B in 2022, projected to reach $475B by 2025. • The government is actively pushing for a cashless society. • QR code payments are everywhere—700,000+ merchants accept them nationwide. This is a market primed for innovation. ⸻ What We Built at PEXX At PEXX we’ve become the first stablecoin bank to enable QR code payments in Vietnam. Here’s how it works: 1️⃣ Scan any VietQR code. 2️⃣ We automatically detect the merchant via the banking network. 3️⃣ Your USDT or USDC is instantly converted to VND. 4️⃣ Payment is completed—all in under 60 seconds. ⸻ Why This Changes Everything ✅ Tourists can spend stablecoins directly at local shops. ✅ Merchants receive instant VND settlement—no currency exchange hassles. ✅ Cross-border remittance becomes as simple as buying coffee. With 700k+ QR merchants now within reach, stablecoins aren’t just digital assets—they’re everyday money. ⸻ Vietnam’s fintech scene is booming, with global events like Blockchain Week and World Financial Innovation Series showcasing the country’s potential. By combining stablecoin technology with existing payment rails, we’re not just keeping up with the future—we’re helping define it. ⸻ 💬 If you’re in fintech, payments, or blockchain, I’d love to hear your thoughts: • How will stablecoins reshape emerging markets? • What other countries are ready for a leap like this? #PEXX #StablecoinBank #Stablecoins #Fintech #Vietnam #DigitalPayments #FutureOfPayments #Inclusion #Innovation #Web3 #Blockchain

68

13 Comments

On January 3 2009, ‘Satoshi’ mined the first Bitcoin (the Genesis block) with the message: “The Times: Chancellor on brink of second bailout for banks” In 2020 we surveyed retail investors in Vietnam, and found that despite not being regulated as an asset, close to 20 percent claimed to have Bitcoin in their portfolios’. Last month Vietnam’s National Assembly overwhelmingly passed the Law on Digital Technology Industry, effective January 1, 2026. Given its push on digital technology, Vietnam could become a regional blockchain hub. #vivavietnam #emergingmarkets #blockchain

22

1 Comment

Vietnam just got one step closer to formalizing its position as Southeast Asia’s crypto capital. 🏦 MBB, one of Vietnam’s largest banks with 30 million customers, signed an MOU with Dunamu, operator of Upbit (South Korea’s largest crypto exchange and one of the top 3 globally) Here is why it's worth taking note of this tie-up ⚙️ Timing: Vietnam passed its Digital Technology Industry Law in July, officially recognizing and regulating digital assets. The ink is barely dry, and MBB is already moving to build a compliant, secure, FATF-aligned crypto exchange. ⚙️ The numbers are already big: Over 20 million Vietnamese already hold digital assets, putting Vietnam in the global top five. The local infrastructure? Still non-existant/nascent… until now. ⚙️ Global tech meets local scale: Dunamu will transfer Upbit’s technology and compliance expertise. MBB brings distribution muscle, customer trust, and domestic reach. #btc #innovation #crypto #vietnam Dušan Stojanović Fredrik Adolfsson Hoa Trinh Minh Tran Thanh Nam Vu Huong Nguyen, CFA Johan De Geer

25

8 Comments