Asia Express – Cointelegraph Magazine

Japanese animation studio behind Dragon Ball wants to launch blockchain game

Toei Animation, a Japanese animation studio famous for generation-connecting series such as Dragon Ball, One Piece, and Sailor Moon, is collaborating with Korean blockchain company Wemade to develop a blockchain game with the working title DenDenGarden. I did it.

The game is based on Toei’s DenDekaDen intellectual property, released in 2022 in partnership with Japanese Web3 company Strata.

DenDekaDen tells the story of seven Kyoto spirits striving to become gods.

This partnership represents a broader trend of Japanese entertainment content integrating with blockchain through games and non-fungible tokens (NFTs). Earlier this year, Captain Tsubasa Rivals, a blockchain game inspired by classic soccer comics, was launched by Japanese gaming ledger Oasys.

Although famous developers such as Bandai Namco and Sega are participating in Japan’s blockchain game market, blockchain games have not yet made significant progress, said Ryo Manzoku, technical director at Oasys. ) said in a recent interview.

This cautious adoption contrasts with Wemade’s strong position, where gamers showed greater openness to blockchain gaming until Play-to-Earn was banned by local regulators in 2021. Wemade’s blockchain game MIR4 became a hit after its launch in 2020 and ranked first in downloads in Korea. Chart before crackdown.

Wemade’s participation in DenDenGarden also comes as the company rebuilds its reputation. Cryptocurrency WEMIX was delisted by major Korean exchanges in 2022 on charges of false reporting of distribution data.

Former CEO Jang Hyun-guk was indicted on charges of manipulating information last August, but denied the charges at his first trial last September. Last March, CEO Jang resigned and founder Park Kwan-ho returned.

Singapore Gulf Bank Considers Raising $50 Million for Stablecoin Expansion

Singapore Gulf Bank has reportedly offered 10% of its equity to raise $50 million by 2025 to acquire the stablecoin payments company.

The bank is in talks with Middle East sovereign wealth funds and other potential investors to secure the necessary capital, according to insiders cited by Bloomberg.

It is reported that the acquisition target is a stablecoin payment company based in the Middle East or Europe.

Headquartered in Bahrain, Singapore Gulf Bank is operated by Singapore family office Whampoa Group and backed by Bahrain’s sovereign wealth fund. We officially began operations in early November with the launch of corporate banking services.

When approached by Cointelegraph, a Singapore Gulf Bank spokesperson would not comment on rumors of financing and acquisition plans.

Hong Kong doubles down on cryptocurrency hub dreams with tax cuts for the rich

Singapore’s regional rival Hong Kong has proposed exempting cryptocurrency profits from taxes for hedge funds, private equity firms and family offices, according to the Financial Times.

The proposal also includes tax exemptions for investments in private credit, overseas real estate and carbon credits. A six-week consultation period is currently open, and comes at a time when other governments across the continent are discussing cryptocurrency taxation.

The tax exemption could increase interest in cryptocurrencies among private asset holders in Hong Kong. According to a recent report, 76% of Asia’s private assets have already invested in cryptocurrencies, with an additional 18% planning to do so in the future.

Known as a financial center and gateway to mainland China, Hong Kong has traditionally attracted businesses with its favorable tax environment, including no capital gains tax, value-added tax (VAT), or inheritance tax.

Recent proposals to exempt cryptocurrency gains from tax bring digital assets into line with the city’s existing capital gains framework, making them more attractive to investors in the cryptocurrency sector.

If passed, this tax-friendly regime is expected to attract more cryptocurrency investors and businesses as Hong Kong accelerates its efforts to establish itself as a regional cryptocurrency hub. The city plans to issue 11 additional licenses by the end of the year, according to Securities and Futures Commission CEO Julia Leung.

Meanwhile, HashKey, one of three licensed exchanges in Hong Kong, has signed a partnership with ZA Bank, the city’s largest virtual bank, to allow customers to buy and sell Ether for fiat.

Tron’s Justin Sun becomes the largest investor in Trump’s cryptocurrency project

Tron blockchain founder Justin Sun announced that he has become the largest investor in US President-elect Donald Trump’s cryptocurrency project World Liberty Financial (WLFI), investing $30 million.

Following the investment, WLFI appointed Sun as an advisor. Sun continues to expand his portfolio of roles, including as an advisory board member at the HTX (formerly Huobi) exchange, where he is believed to have greater influence, and as prime minister of the micronation Liberland.

WLFI, which launched in October, has struggled to gain traction due to restrictions that limit token purchases to non-US residents and accredited US investors, as well as restrictions that make the tokens unsaleable. Before Sun got involved, the project had raised only $20 million, well short of its $300 million goal.

Sun’s investment will increase total revenue to $52 million, allowing Trump’s company, DT Marks DEFI LLC, to begin receiving 75% of net profits, as outlined in the WLFI white paper.

Trump, who has served as the project’s “chief advocate for cryptocurrencies,” has pledged to position the United States as a global leader in cryptocurrencies during his presidency.

Cryptocurrency fraud surges across Asia as Bitcoin surges

Bitcoin’s recent bull run has led to a surge in cryptocurrency scams across Asia, prompting regulators and industry groups to issue urgent warnings.

In China, a case was reported to the police in which a cryptocurrency novice was duped by a scam platform promising high returns on Tether (USDT) trading. Many victims fall prey to fabricated claims of guaranteed profits through holding or staking, unaware that USDT is a stablecoin designed to maintain a fixed value. Scammers often create fake dashboards showing inflated returns to gain trust and entice victims into making larger investments.

In the Philippines, reports of cryptocurrency fraud have increased to the Cybercrime Investigation and Coordination Center (CICC). Scammers pressure victims by promising “exclusive” opportunities and urging them to invest quickly. Once funds are transferred, all communication is blocked.

Malaysia’s Digital Asset Platform Association (MDAPA) highlights similar initiatives targeting older and less experienced investors. Scammers often pose as agents of regulated exchanges, offering high profits while directing victims to unlicensed platforms.

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Yoon Yohan

Yohan Yoon is a multimedia journalist covering blockchain since 2017. He has contributed as an editor to Forkast, a cryptocurrency media outlet, and has covered Asian technology stories as an assistant reporter for Bloomberg BNA and Forbes. He spends his free time cooking and experimenting with new recipes.