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Platforms Featured Southeast Asia

PH crypto exchange PDAX unveils new tagline, ‘Choose PDAX!’

Manila, Philippines – The Philippine Digital Asset Exchange (PDAX) has unveiled its new brand communications today – a straightforward ‘Choose PDAX!’.

PDAX was the first virtual currency exchange operator licensed by the Bangko Sentral ng Pilipinas (BSP) back in 2018. The platform enables Filipino consumers to easily buy, sell, and trade cryptocurrencies.

PDAX said the new ‘Choose PDAX!’ tagline reflects the new and improved services it offers and the upgrades it has applied to the PDAX app and web exchange.

A recent brand refresh gives its web app a more easy-on-the-eye palette. The change coincides with the upgrade of the mobile app which saw several changes to the app interface such as new screens for its dashboard and in its trade and cash-in and out functions, amongst others.

Trading has now also been made easier with the previous Primary and Exchange wallet, which is now consolidated into just one PDAX wallet. Furthermore, all cryptocurrencies are now accessible on the web exchange, similar to the mobile app.

Presently, PDAX gives one-stop access to 34 cryptocurrencies. Earlier this year, it launched its prime service, PDAX Prime, which gives clients access to 21 in-demand digital assets across its platform and through Treasury OTC.

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Platforms Featured Global

Solana launches first-ever debit card SolSwipe 

Singapore – Public blockchain platform Solana has announced the official launch of SolSwipe, their first-ever debit card, on a global scale. Solana also holds its native currency of the same name, and is one of the well-known cryptocurrencies, aside Bitcoin and Ethereum.

The debit card launch is in line with SolSwipe’s roadmap of providing a unique service for Solana holders to transact in a seamless and convenient fashion through popular cryptocurrencies. 

In addition, it allows Web3 reloading with Phantom, a Solana-based wallet built for Defi and NFTs. The debit card is created for accessibility and supports Solana (SOL) and USD Coin (USDC) as well as other major chains, such as Ethereum and Binance Smart Chain.

They can be used globally for digital purchases, point of sale (POS) and on any Visa-compatible ATMs. 

Aside from the debit card launch, SolSwipe also debuted its NFT collection on September 12. The SolSwipe NFTs are available for mint at 1.25 Sol with a low supply of 6666 NFTs. Holders will enjoy reduced loading fees and are eligible for exclusive rewards shared from a portion of the royalties and loading fees incurred.

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Marketing Featured APAC

Bybit launches special pillow to prompt quality sleep amongst traders

Singapore – Global cryptocurrency exchange Bybit has launched a new special pillow, a first of its kind, in a bid to raise awareness to cryptocurrency traders to get quality sleep despite the ‘market never sleeps’.

The pillow launch is accompanied by the launch of a rap video, full with meme references related to cryptocurrency and trading of it.

The campaign, conceptualised by TBWA\Group Singapore, focuses on the fact that due to the decentralised nature of cryptocurrencies, the markets are not managed by any authority in any specific time zone – they remain open to traders all over the world, hence a large majority of these traders never sleep.

Data from The Sleep Judge states that traders are kept awake at night due to stresses about market crashes; learning more about investments; worrying about the disappearances of cryptocurrency and missing the next big thing. The data also noted that almost 70% of non-investors reported to enjoy good to excellent sleep quality versus around 63% of those who did invest in cryptocurrency. 

Speaking on campaign execution, Asheen Naidu, executive creative director at TBWA\Singapore, said, “We wanted to change these data points and create a solution to the problem of sleep deprivation among traders. Moon Pillow is the answer. Users can program their pillow to provide vibration alerts when their selected cryptocurrencies experience price swings larger than five percent.”

He added, “To become attractive to the audience, we delved deep into crypto cohort culture to find unique ways to drive excitement for the campaign – from different activation touchpoints, through to the distinct language and meme aesthetics commonly seen on online message boards. It is an exciting product which intends to provide traders with an excellent quality of sleep, and a sound mind that can help them take their investments to the moon.”

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Platforms Featured Southeast Asia

Crypto firm Huobi shuts down Thai operations by July 1

Bangkok, Thailand – Cryptocurrency exchange company Huobi has announced that it is shutting down its operations in Thailand by July 1 this year after failing to secure a licence in the country, as well as a new statement from Thailand’s Securities and Exchange Commission delisting Huobi.

In an online statement, Huobi said that by 1 July, the Thai operations are no longer legally affiliated with the Huobi Group and its affiliates. It also encouraged its local users to withdraw their funds from the exchange.

“Since September 2021, we have been trying to contact all clients to withdraw their assets,” the statement said, while also urging other users to contact the exchange via email or Telegram for refund requests.

According to the newest statement from Thailand’s SEC, Huobi was found to have ‘flawed management structure and system’ between February and March 2021. Which, as per the Thailand Securities and Exchange Commission, was not sufficient to ensure compliance with required regulations, leading to its licence suspension’.

“The SEC, at its meeting No. 15/21, held on September 2, 2021, therefore resolved to recommend to the Minister of Finance. to consider revoking the licence to operate a cryptocurrency exchange trading centre and Huobi’s digital token trading centre, and ordered Huobi to suspend its services as a digital asset trading centre,” the SEC statement read.

The update is in line with Thailand’s recent strict guidelines on cryptocurrency use, stating that they are meant to avert potential impacts on the country’s financial stability and economic system.

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Platforms Featured Southeast Asia

Coins.ph signs with PBA as exclusive crypto partner

Manila, Philippines – Local crypto and fiat currency wallet services provider Coins.ph has announced a partnership with the Philippine Basketball Association (PBA) as its exclusive cryptocurrency partner in line with the PBA’s upcoming 47th season. This follows Coins.ph’s recent US$30m funding to accelerate investment in its Web3 ecosystem.

Through PBA’s first crypto partnership, Coins.ph will have brand presence featured throughout the Philippine Cup, the PBA’s premier tournament, where it will offer interactive experiences to engage fans and promote awareness of all things crypto. In addition, Coins.ph will make use of the interactive games on selected matches to allow fans to win free crypto, as well as being featured on television ads throughout the season.

Both companies aim to provide economic benefits and promote professional growth opportunities to basketball fans through crypto education and engagement. Coins.ph will use its brand presence to increase public awareness of crypto and explain concepts such as blockchain, NFTs, and Web3 to basketball fans across the nation.

“The PBA is an ideal platform for these educational efforts, with some prominent players already involved in the crypto space. This partnership will extend that empowerment to fans as well,” Coins.ph said in a press statement.

Wei Zhou, CEO of Coins.ph, said, “Basketball plays a very important part in the Filipino culture and that makes it a perfect match for Coins.ph, a proudly home-grown fintech brand in the Philippines. We are very excited to be the exclusive crypto partner of the PBA and look forward to bringing together exciting basketball games with the latest crypto trends.” 

He added, “We have seen a surge in engagement with Web3 in the Philippines and we believe that more and more Filipinos are joining the crypto community. The PBA is a great platform to educate Filipinos on the crypto-economy and we value this opportunity to expand crypto market adoption.”

Meanwhile, Willie O. Marcial, the PBA Commissioner, commented, “The PBA is the 1st professional basketball league in Asia and is already an institution in the country. It is still unparalleled when it comes to professional sports entertainment. And partnering with Coins.ph will surely take the PBA a step further as it continues to improve and strengthen its position as one of the best leagues in the region.” 

He added, “Further, the PBA is all about growth and improvement. Having Coins.ph will give fans the opportunity to engage in a new way and at the same time learn about the crypto community. We are thankful to Coins.ph for choosing us to be their partner, I am sure they will introduce new venues for fun and exciting activities.”

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Platforms Featured Southeast Asia

PH’s Securities and Exchange Commission team up with Google PH to screen crypto ads

Manila, Philippines – The country’s Securities and Exchange Commission (SEC) has teamed up with tech giant Google to require advertisers offering cryptocurrency exchanges and wallets targeting the Philippine audience to present proof of their registration and/or license to operate in the country. 

Starting on July 7 this year, the new regulation measures by SEC and Google is part of the commission’s regulatory compliance from entities doing business online in order to protect the investing public and other financial consumers. 

Furthermore, its also adds to Google’s existing policy that requires all advertisers to comply with local laws for any area that their advertisements target. Google will take appropriate action to address any violations.

Emilio B. Aquino, chairperson at SEC, said, “This continuing partnership with Google will help the Commission fulfill its mandate as registrar and overseer of the Philippine corporate sector, as well as protector of the investing public, in the digital age.”

The SEC has consistently reminded the public to be vigilant and exercise due diligence before transacting or dealing with any entity, and those based abroad without any registration or license to do business in the Philippines. 

It has also sought to educate the public on legitimate investment options through investor protection and financial literacy campaigns online. Over the course of the pandemic, the commission has observed that several entities have taken advantage of the online space to spread investment scams supposedly engaged in cryptocurrency trading when in reality, these do not exist.

“We believe the new policy can reduce the number of Filipinos falling prey to unregistered investment schemes online, who are usually victims of aggressive online advertising and intrusive tactics that make them believe in products that are often too good to be true,” Aquino stated.

As the national government regulatory agency tasked with supervising the corporate sector, entities doing business in the Philippines must first register with the SEC, in general. Meanwhile, operators of cryptocurrency exchanges must register with the BSP as remittance and transfer companies, pursuant to BSP Circular No. 944 issued February 6, 2017. 

Discussions with Google PH started in 2019 to counter the increase of unregistered personal loan apps in the country. This year, Google has revised its policy for personal loan apps targeting users in the Philippines, requiring them to submit a Personal Loan App Declaration and other necessary documents before they could publish apps on Google Play. Failure to provide such documents will lead to the personal loan app’s removal from Google Play.

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Marketing Featured Southeast Asia

Hong Kong Gen X citizens most likely to own cryptocurrency: report

Hong Kong — Hong Kong has been at the forefront of uncertain sovereign issues, and like countries under such a critical situation, some of its citizens have resorted to investing into alternative assets as a hedge against inflation or subsiding of centralized finance. According to a key finding from a report entitled ‘The Future of Financial Services Report 2022’ by YouGov, most citizens are aware of the existence of cryptocurrency, or 3 out of 5 Hongkongers, but only 20% actually own cryptocurrency.

On the other hand, other key findings from the report reveal that the underlying reason for owning cryptocurrency is most likely as a form of investment. Additionally, Bitcoin, the undisputed forerunner of cryptocurrency, is the most widely owned asset. It is most most popular with Gen X at 71% ownership. Additionally, those ages 55 years old and above are less than likely to be aware of cryptocurrency, with half of them stating they’ve never heard of it.

The report notes that citizens ages 35-44 in Hong Kong are most likely to own cryptocurrency, at 32%, followed by ages 18-34 at ownership rate of 28%. Those in ages 45-54 years old say only 20% of them own crypto, while only 6% of citizens ages 55 years old and above own the asset.

For the top three benefits of cryptocurrency, 70% said it is for investment; 27% reported as convenient way to transfer money; and 20% claimed they used it as a cash to purchase products.

Finally, the top three cryptocurrencies owned by Hongkongers are Bitcoin at 59%, Ethereum at 39%, and Dogecoin at 22%. Hongkongers aged 45-54 are more likely to own Bitcoin, while those aged 35-44 are more likely to own Ethereum. Surprisingly, Hongkongers aged 35-44 are more likely to own the popular meme coin, Dogecoin. 

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Platforms Featured Southeast Asia

Thai-based Athena Mentor introduces crypto-based ‘mentor-to-earn’ platform

Bangkok, Thailand – Local blockchain startup Athena Mentor has introduced its cryptocurrency-based ‘mentor-to-earn’ platform, where users can transform their contributed wisdom in the platform into crypto tokens, with the goal of distributing skills and experience from mentors to mentees worldwide.

To build the wisdom mining protocol, Athena constructed a one-on-one video conference platform that rewards those who participate with our new Athena tokens. Anyone can use the platform and it is free to get started. The company plans to reach 100,000 users by the year end and a million by the end of next year.

Paramee Intarachumnum, product lead at Athena Mentor, says, “Research on mentorships from Sun Microsystems indicates that those who have mentors are promoted five times faster than those who don’t. Nevertheless, workers face two major obstacles to establishing a fruitful mentorship experience: access and sustainability. Not only will we help solve the problem of mentor access, but we also ensure sustainability via the use of tokenomics. Ultimately, the exchange of skills, knowledge, and wisdom that Athena enables will help democratise wisdom worldwide.”

Meanwhile, Viriya Reungwai, technology lead at Athena Mentor, commented, “Athena Mentor is only the starting point of our whole vision to democratise wisdom across the planet. Our long-term goal is to democratise wisdom across many areas, including hiring and coaching. Right now, however, our focus is on building the platform infrastructure, which is a blockchain-based economy allowing us to serve as the bridge from Web2 to Web3.”

Reungwai added, “First, users who hold and stake our Athena tokens will be able to access premium services and events exclusive only to token holders. Second, the mentoring fee will be lowered for token holders. Lastly, to fulfil the promise of mentor-to-earn, we will partner with other entities to enable the exchange of Athena tokens for fiat currencies, other cryptocurrencies, and goods and services.”

To celebrate the launch of the world’s first mentor-to-earn platform, users who join Athena will receive three times the usual number of Athena tokens on all their activities from today until 31 May.

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Platforms Featured Southeast Asia

Gulf Energy announces establishment of digital asset exchange business with Binance

Bangkok, Thailand – Gulf Energy, a national electric power generation company, has announced that it has entered into a memorandum of understanding (MoU) with global cryptocurrency exchange Binance in establishing a digital asset exchange business.

As part of the MoU, Gulf Energy has also announced that it will be investing in Binance’s cryptocurrency coin BNB. The announcement by Gulf Energy to enter into the cryptocurrency business was made during the company’s recent regulatory filings with the Stock Exchange of Thailand (SET).

“The company believes that this multi-level cooperation with Binance, which is the global leader in blockchain infrastructure technology, is aligned with the company’s target to be the leader in digital infrastructure while providing further opportunities for the Company to expand into other digital asset-related initiatives in the future,” Gulf Energy said in the regulatory filing.

In addition, Gulf Energy has announced that it has invested in a series seed preferred stock issued by BAM Trading Services Inc., the operator of a regulated digital asset exchange in the USA under the name Binance.US.

Gulf Energy’s venture into cryptocurrency is announced despite recent regulatory changes from the Thai government regarding the use of cryptocurrency and digital assets as means of payment.

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Platforms Featured Southeast Asia

MetaBomb launches IDO offering

Hanoi, Vietnam – MetaBomb, a play-to-earn game, is launching its IDO in April and dropping a few bombs on the GameFi market in Q2 of 2022. 

According to Binance Academy, IDO is a crypto token offering run on a Decentralized Exchange (DEX). Liquidity pools (LP) play an essential role in IDO’s by creating liquidity post-sale. A typical IDO lets users lock funds in exchange for new tokens during the token generation event. 

MetaBomb is coming closer to the final production stage and with the ideas of GameFi 2.0 in mind, this play to earn game will be the place where players can be immersed in the true potential of a metaverse.

Stepping into the GameFi market in its infancy, MetaBomb Founder Cuong Vu has experienced all its ups and downs. “It is the blooming time of GameFi and blockchain when several big names enter this space.” said Cuong Vu, CEO of MetaBomb.

MTB token is the main in-game currency. It will be used to buy Hero Box, fusion and upgrade Hero level, mainly in the first phase. The player’s income level will change naturally which requires the player to continuously reinvest in the game if they want to keep the income steady.

“The way it operates will unfold soon and promises to amaze many players,” said Vu.

He supplemented that the in-game activities and upgrading systems are tools to ensure steady funding to a balanced and healthy game economy, assuring the sustainable development of the project.

According to MetaBomb, they are currently developing and soon to launch an NFT system that has the ability to store values of assets and resist inflation just like ‘gold’ in the real world. 

The game is designed with a variety of game modes, many types of fee arising from game activities and upgrading items that will help keep the player’s pool reward stable and healthy.

Southeast Asia and South America are the go-to-markets for MetaBomb to acquire established play-to-earn game lovers. MetaBomb would later expand its marketing activities to North America, Europe, and East Asia.

The game’s Testnet version will be released on the BNB chain in April 2022.