Global blockchain platform Waves has raised $120 million in a private funding round for its new project called Vostok, according to an official blog post published Dec. 19. The Vostok project is a “universal blockchain solution” that combines two basic components — its own private blockchain platform, and the Vostok system integrator, a tool for developing and optimizing the platform. The Vostok blockchain is focused on the deployment of Waves technologies for commercial and government IT systems. The new product will reportedly help the Waves Platform to develop new technologies such as artificial intelligence (AI), Internet of Things (IoT), and …

Private equity firm GSR Capital has contracted Overstock.com Inc.’s subsidiary tZERO Group Inc. to develop a smart contract token for a sale of cobalt, according to a press release published Dec. 17. tZERO and Hong Kong-based GRS Capital’s partnership is focused on developing an ecosystem in Asia for tokenized commodity purchase contracts that would purportedly improve the supply chain process of rare metals. Additionally, the parties are looking to launch a security token platform in the region, following compliance with relevant regulatory requirements. Per the release, the token will be used for a sale of cobalt, and is expected to …

United Arab Emirates-based UAE Exchange has partnered with Ripple to launch blockchain-based cross-border remittances to Asia by Q1 2019, Reuters reports Dec. 13. According to the report, UAE Exchange, a part of payments and foreign exchange company Finablr, is among the key players in the Middle East region, which sees high levels of remittance inflows from expatriate workers. As Reuters notes, Asia was one of the largest recipients of the $613 billion in remittances estimated to have been sent globally in 2017. While remittances are at present largely sent via foreign exchange branches, CEO of Finablr Promoth Manghat has said …

Thai cryptocurrency exchange Satang Corp. plans to raise nearly $10 million in a security token offering (STO), despite the recent market meltdown, Asia-focused business publication Nikkei Asian Review reported Dec. 4. Satang’s plans are reportedly supported by the Government of Thailand in a bid to make the country a blockchain center and develop a regulatory framework for digital currencies and blockchain. According to the exchange’s CEO Poramin Insom, the STO will be conducted in the first quarter of 2019. Satang reportedly plans to use the $9.9 million it raises to develop an e-wallet that enables users to make payments, as …

Binance, the world’s largest crypto exchange by trading volumes, will launch its own blockchain “Binance Chain” in the “coming months,” as the company revealed in a tweet on Dec. 4. The new Binance-backed blockchain aims to provide a basis for creating new cryptocurrencies and Initial Coin Offering (ICO) tokens, as the company said in the tweet: “Binance is pushing for blockchain adoption and doing many things to help advancement of the industry. E.g. we will have the Binance chain ready in the coming months, on which millions of projects can easily issue tokens.” According to Forbes, Binance announced their plans …

BlockShow Asia 2018 has come to an end in Singapore Thursday, Nov. 29, with most visiting experts predicting that cryptocurrencies and blockchain will fare better in 2019. According to the BlockShow team, 2,800 people attended the two-day conference, including potential investors who participated in EXP20 — a business pitch competition for startups announced shortly before BlockShow Asia. More than 50 speakers from various crypto and blockchain projects participated in the event’s discussion panels. On the first day, experts discussed the Chinese crypto ban, decentralized networks for artificial intelligence (AI), and blockchain technology’s impact on ecology and gaming sector. Alexandre Dreyfus, …

BlockShow Asia 2018, dubbed “the largest blockchain technology roadshow” by tech news website Venturebeat, started in Singapore Wednesday, Nov. 28. BlockShow Asia, powered by Cointelegraph, is returning to Singapore for the second time bringing together over 3,000 blockchain enthusiasts from over 50 countries. The conference is scheduled for Nov. 28 and 29, while Asia Blockchain Week will last until Dec. 1. The BlockShow roundtables and discussions will take place at Marina Bay Sands convention center at the very heart of Singapore’s business district. On the first day the speakers will discuss, among other topics, the interaction between blockchain and artificial …

The Viettel Enterprise Solutions Corporation has set a goal to become Vietnam’s leading blockchain technology provider in five years, local news outlet Viet Nam News reported Oct. 25. The Viettel Enterprise Solutions Corporation is a development and innovation wing of Vietnam’s largest telecommunications operator Viettel Group. The Viettel Enterprise Solutions Corporation was established earlier in October to focus on providing information and communication technology solutions to the governmental and commercial sectors, and to assist in building a digital government. Speaking at a workshop called “Blockchain at Viettel,” the company’s deputy general director Ngô Vĩnh Quý reportedly said that Viettel is …

Alibaba Cloud, the cloud computing arm of China’s e-commerce giant Alibaba Group, is enhancing its Blockchain-as-a-Service (BaaS) offering outside China, the company announced in a press release on Oct. 24. Following the roll out of its BaaS platform in China, Alibaba Cloud will expand its enterprise-level blockchain service to major international markets including Europe, the U.S., and South East Asia. Based on two blockchain network implementations — Hyperledger Fabric and Ant Blockchain — Alibaba Cloud’s BaaS is now targeting global enterprises, enabling them to set up secure and solid ecosystem for blockchain developments, the press release notes. The blockchain solution …

Vertex Ventures has announced an investment in the largest cryptocurrency exchange Binance to facilitate its expansion into Singapore, according to a press release shared with Cointelegraph Oct. 23. Vertex Ventures is a subsidiary of Singapore-based government-owned investment company Temasek Holdings, which manages $223 billion in assets. The company was founded in 2015 as a global network of operator-investors, who manage portfolios in the U.S., China, Israel, India and Southeast Asia. The company focuses on early-stage investments and currently has around $2.5 billion under management. According to the release, the investment is a joint effort between Vertex Ventures China and Vertex …

On Sept. 14, the blockchain investment arm of United States-based e-commerce Bitcoin pioneer Overstock announced that the retailer’s clients can now purchase the cryptocurrency directly from its website. It became possible after its subsidiary Bitsy began a beta launch of its cryptocurrency wallet and exchange, marking another step in Overstock’s rich relationship with Bitcoin. However, although Overstock first allowed its customers to pay with the cryptocurrency back in 2014, the e-commerce industry has yet to experience mass adoption. Meanwhile, Asian players are gathering to make an even greater push. First brick in the wall: Overstock’s initial success In January 2014, …

Kakao-affiliate Dunamu, the operator of major South Korean crypto exchange Upbit, plans to open a Singapore-based exchange next month, local news outlet Yonhap News reports September 19. According to Yonhap, Dunamu already set up a branch in Singapore this February as part of its active push to expand across the Asian market. While the exact date of the Singapore exchange launch remains to be finalized, the firm told Yonhap that the service will go live as of early October. Kim Kook-hyun, head of Upbit's existing Singapore branch, is quoted as saying that: "As Singapore has proactively supported blockchain technology, our …