In order to extend its operations in South Korea, Alchemy Pay, a Singapore-based provider of payment services, has secured a $10 million investment from market maker DWF Labs. The business wants to take advantage of South Korea’s “high level of crypto adoption” and help regional businesses go global. Prior to now, it was compatible with payment systems like Visa, Mastercard, Google Pay, and Apple Pay. Alchemy Pay was integrated into the site of cryptocurrency exchange OKX last week to make it simpler for users to buy cryptocurrencies using their local currencies. DWF Labs managing partner Andrei Grachev recently indicated that the company had gathered enough money from its profits to engage in initiatives at this time. The combined sum is $165 million. The market capitalization of the native token of Alchemy Pay, ACHP, is just over $180 million.
According to Japan’s Financial Services Administration (FSA), MEXC Global and BitForex operate in Japan without the appropriate registration (FSA). This may or may not represent a current unregistered business, but it violates the nation’s fund settlement regulations. Bybit received a warning letter from the FSA in 2021 for operating without the required authorizations.
In order to capitalize on the demand for more developed crypto infrastructure, Nomura, Ledger, and CoinShares have formed a custodial joint venture called Komainu Connect. It offers a regulated and segregated collateral management platform. With segregated custody and chain-verifiable verification, the solution will enable clients to deploy their digital assets in collateralization circumstances. Also, in preparation for the predicted Ethereum Shanghai hard fork on April 12, it has scaled up its staking service. Solana, Polkadot, and Tezos are the first coins that Komainu’s platform will support.
