Top News in Asia from Aug 15 – Aug 18

Top News in Asia from Aug 15 – Aug 18

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Top News in Asia from Wednesday through Friday

Binance LCX, a joint venture between Binance and Liechtenstein Cryptoassets Exchange is the launching of a fiat-to-crypto exchange.

As of August 7, 2018, there are 274 legal cases related to cryptocurrency in China. Most recently, Chinese courts made its decision without directly discussing whether Bitcoin trading platform is illegal.

How $1 billion line of credit from Chinese investors China Jiangsu International helped launch Akon the singer in Africa and subsequently now Akoin.

A series of new tweets are fueling speculation that Binance is about to make a big move with XRP.

Deals and Venture

SFOX, a cryptocurrency dealer for high-volume traders and institutional investors, has raised $22.7 million in a Series A funding round led by Tribe Capital and Social Capital.

Exchange Huobi has made a significant investment in the US-compliant security token trading platform OpenFinance Network.

Krungsri Finnovate, a venture capital fund of Krungsri (Thailand Bank of Ayudhya) committed to invest in Japan’s SBI AI & Blockchain Fund, marking its fourth deal since inception.

Dymon Asia Ventures has hit the final close for its maiden $50-million fintech-focused fund.

Sino-US investment firms are targeting over $4 billion for new funds launched this year. GGV registered a $1.8bn fund with SEC.

Japanese social messaging app LINE announced the creation of a $10 million blockchain venture fund.

Coin and Token News

Official launch of ICX Station, a global accelerator program sponsored by the ICON Foundation.

Tron acquires domain name.

Ripple ‘definitely’ wants to target China with its blockchain-based payments tech, exec says.

Exchange News

Chinese exchange Huobi and its partners are launching cryptocurrency exchanges in five regions: the Philippines, Russia, Taiwan, Indonesia, and Canada.

Huobi launches brand new HADAX 2.0 including Huobi Automated Listing Platform, Huobi Show Center for Blockchain Projects and HADAX Public Voting Platform.

Regulation News

*China Media* Shanghai Municipal Government signed a strategic cooperation agreement with Alibaba and Ant Financial to upgrade the area with innovation and manufacturing upgrade, including blockchain initiatives. Google translated

Thai regulators have so far approved seven business entities to conduct cryptocurrency operations as part of the formalization of the country’s domestic market.

Throughout the past two months, investors in the local crypto market of South Korea have continuously expressed their optimism towards a drastic change in the regulatory landscape of crypto.

Cryptocurrency exchanges in South Korea have condemned their exclusion by the country’s government from the classification of venture firms.

Business News

Chinese retailer is launching a new blockchain technology platform to help enterprise customers build, host and use their own blockchain applications for operations management.

State-backed Bank of China and financial services corporation ChinaUnionPay have entered into a partnership to explore blockchain for payments.

CoinDrop, a service that helps anyone easily receive “airdrops” of cryptocurrency.

Chinese miners exiled to Russia, Kyrgyzstan, Mongolia, anywhere with cheap electricity.

American seed accelerator Y Combinator appointed Baidu’s former COO Lu Qi as its CEO.

Chinese games are rapidly eroding the Korean market. It is happening while China blocked the distribution of new Korean games in China.

What did you guys think of our Global Coin podcast thus far? What do you want to read or learn more about on Asia?

Check our past 7 weekly pieces on Southeast Asia Cryptocurrency Developments, A Guide to Asia Crypto funds/investors, Takeaways on Asia Crypto from Techcrunch Zug, Cryptokitties, Binance, Bitmain, and China’s Crypto winners


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