Asia Express – Cointelegraph Magazine

The Japanese anime studio behind Dragon Ball wants to launch a blockchain game

Japanese anime production giant Toei Animation, known for series such as Dragon Ball, One Piece and Sailor Moon, has partnered with South Korean blockchain company Wemade to develop a blockchain game under the working title Dandengarden.

The game is based on the intellectual property of Toei DenDekaDen, which started in 2022 in partnership with Japanese web3 company Strata.

DenDekaDen tells the story of seven Kyoto spirits trying to ascend to godhood.

The partnership represents a broader integration of Japanese entertainment content with blockchain through gaming and non-trivial tokens (NFTs). Earlier this year, Captain Tsubasa Rivals, a blockchain game inspired by the classic soccer manga, was launched on Japanese gaming registry Oasis.

While Japan's blockchain game market is aboard popular developers such as Bandai Namco and Sega, no blockchain game has yet achieved major success, said Ryo Manzoku, director of Ois Tech, in a recent interview.

This cautious adoption contrasts with South Korea, Wemade's stomping ground, where players showed more transparency for games until play-to-find was banned by local regulators in 2021. Wemade's blockchain game MIR4 gained popularity after its launch in 2020. Tables before the thefts.

Wemade's involvement in Dendengarden comes as the company rebuilds its reputation. In 2022, it was delisted by major South Korean exchanges for misreporting distribution data.

Former CEO Chang Hyun-guk was charged with falsifying information in August, a charge he denied at a preliminary hearing in September. Chang stepped down in March, and founder Park Kwan Ho returned as CEO.

Singapore's Gulf Bank sees $50M in support for statscoin expansion

Singapore Gulf Bank It is reportedly offering 10 percent of its equity to raise $50 million to found a stablecoin payment firm by 2025.

According to an insider cited by Bloomberg, the bank is in talks with a Middle East sovereign wealth fund and other investors to secure the necessary capital.

The target acquisition is said to be a stablecoin payments firm based in the Middle East or Europe.

Bahrain-based Singapore Gulf Bank is managed by Singapore family office Whampoa Group and is backed by Bahrain's sovereign wealth fund. It officially launched its corporate banking service in early November.

A spokesperson for Singapore's Gulf Bank did not comment on the rumored fundraising and acquisition plans when approached by Cointelegraph.

Hong Kong is doubling down on the dream of a crypto hub with tax breaks for the wealthy

Singapore's regional rival Hong Kong has proposed tax exemptions for hedge funds, private equity firms and family offices, the Financial Times reported.

The proposal includes tax exemptions for investments in personal loans, foreign property and carbon credits. A six-week consultation period is now open and comes as other governments across the continent are advancing discussions on crypto taxation.

The tax exemption could fuel growing interest in crypto among Hong Kong's private wealth holders. According to a recent report, 76% of private wealth in Asia has already invested in crypto, with an additional 18% planning to do so in the future.

Known as a financial center and gateway to mainland China, Hong Kong attracts businesses with its favorable tax environment, including the absence of capital gains tax, value added tax (VAT) and inheritance tax.

A recent proposal to make cryptocurrency gains tax-free by aligning digital assets with the city's capital gains framework has increased the appeal of investors in the crypto sector.

If passed, this tax-friendly regime is expected to attract more crypto investors and businesses as Hong Kong accelerates efforts to position itself as a regional crypto hub. According to Julia Ling, CEO of the Securities Futures Commission, the city plans to issue 11 more licenses by the end of the year.

Meanwhile, HashKey, one of three licensed exchanges in Hong Kong, has partnered with the city's largest virtual bank, Za Bank, to allow customers to buy and sell Ether for fiat.

Tron's Justin Sun became the largest investor in Trump's crypto project

Tron blockchain founder Justin Sun has announced that he has become the largest investor in US President-elect Donald Trump's crypto project World Freedom Finance (WIFI), making a $30 million investment.

Following the investment, WFI appointed Sun as an advisor. Sun continues to expand his portfolio of roles, including serving on the advisory board of the HTX (formerly Huobi) exchange – where he is believed to wield considerable influence – and as prime minister of the micronation Liberland.

WFI, which launched in October, has struggled to gain traction due to restrictions restricting purchases to non-resident and accredited US investors and restrictions on the sale of its tokens. Before Sun got involved, the project had raised just $20 million, far short of its $300 million target.

Sun Investments raised its total sales to $52 million, allowing Trump's company DT Mark DEFI LLC to begin receiving 75 percent of net revenue, according to WWFI's white paper.

Trump, who serves as the project's “chief crypto advocate,” has pledged to make the U.S. a global leader in cryptocurrency during his presidency.

Amid the Bitcoin boom, crypto scams are rampant across Asia.

Bitcoin's recent bull run has sparked crypto scams across Asia, prompting regulators and industry groups to issue urgent warnings.

Police in China have reported cases of crypto startups being tricked into fraudulent platforms claiming to make huge profits from Tether (USDT) trading. Many victims, unaware that USDT is a stable coin designed to maintain a constant value, fall prey to claims of guaranteed profits by holding or winning. Fraudsters often create fake dashboards that show inflated returns to gain trust and get victims to make big investments.

The Philippines' Cyber ​​Crime Investigation and Coordination Center (CICC) has seen an increase in crypto fraud complaints. Scammers pressure victims to invest quickly by promising “special” opportunities. Once funds are transferred, all communications are terminated.

In Malaysia, the Digital Asset Platform Association (MDAPA) highlights similar schemes targeting seniors and inexperienced investors. Fraudsters often pose as agents of regulated exchanges, directing victims to unauthorized platforms and offering huge profits.

John Yun

Yohan Yun is a multimedia journalist who has been reporting on blockchain since 2017. He has contributed as an editor to crypto media outlet Forkast and covered Asian technology stories as an assistant reporter for Bloomberg BNA and Forbes. He spends his free time cooking and experimenting with new recipes.