Bitcoin News — Asia
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In recent news pertaining to cryptocurrency exchanges, SBI Group has unveiled a partnership with Sepior that will see the companies jointly develop a proprietary wallet, Huobi has announced it is establishing an operational base in Dubai to target the African, Middle Eastern, and South Asian cryptocurrency markets, and Trijo, a Swedish crypto exchange, has received […]
The post Exchanges Roundup: SBI to Develop Wallet, Huobi Targets New Markets appeared first on Bitcoin News.
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The innovation wing of Vietnam’s largest telecoms operator Viettel aims to become the country’s leading blockchain provider in the next five years.
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 eager to keep pace with development trends, including blockchain technology. Ngô assured that the corporation has the necessary resources, including financing, specialists, and network infrastructure to learn and deploy blockchain. Ngô added:
“Blockchain is an unlimited ecosystem. The most difficult task for Viettel is choosing the most effective blockchain technology that can be applied in daily life.”
Viettel Enterprise Solutions Corporation has already developed a blockchain-based solution to improve file management in the healthcare sector. The solution purportedly enables the connection of entire medical networks, including the Ministry of Health, provincial health departments, patients, and other related entities on the nationwide level. The model is now awaiting approval from the country’s Ministry of Health.
Some other Asian countries have already deployed blockchain technology in their telecoms networks. South Korea’s largest telephone company, the state-owned KT Corporation, announced the launch of its blockchain-powered commercial network to make it “more secure and transparent” in July. KT plans to allow its individual and corporate clients to store and transfer their digital data with “less hacking risks.”
Also in July, China’s three major telecoms operators — China Mobile, China Unicom and China Telecom — launched a blockchain research group, which aims to “build a trustworthy blockchain application team to explore the blockchain area” and seeks to increase understanding of “new applications in the area of blockchain digital assets, telecommunication assets and next-generation telecommunication network.”
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Alibaba Cloud is expanding its enterprise-level Blockchain-as-a-Service outside China.
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.
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 offers a broad range of applications such as automatic deployment, consortium blockchain management, smart contracts, and others.
Yi Li, senior staff engineer and lead at Alibaba Cloud Blockchain Service, commented on the recent expansion of Alibaba Cloud’s BaaS to global markets, claiming that the company aims to assist international companies in “accelerat[ing] their digital transformation” via blockchain.
In addition to the global expansion, Alibaba Cloud also launched two new availability zones in the U.K. earlier this week in order to match increased demand. According to the press release, the company is now operating 52 availability zones in 19 regions across the world.
Founded in 2009, Alibaba Cloud is reportedly considered as the largest cloud services supplier in China, as well as the third largest in the world.
Alibaba Cloud’s parent company Alibaba has recently been granted a preliminary injunction against Dubai-based Alibabacoin Foundation, following a lawsuit over the misleading use of Alibaba in their name.
Yesterday, U.S. global computer technology corporation Oracle Corporation released a suite of blockchain-enabled Software-as-a-Service (SaaS) applications based on its Oracle Blockchain Cloud Service. The new blockchain-based application suite and a platform-as-a-service product is set to enable transparency in logistics and increase the traceability of supply chains.
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- Tags: Adoption, Alibaba, Asia, BaaS, Blockchain, Cloud Services, E-Commerce, Europe, Hyperledger, USA
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Binance has received an investment from Temasek subsidiary Vertex Ventures to support the exchange’s expansion into the Southeast Asian market.
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 Ventures Southeast Asia and India, and aims to support Binance in developing a cryptocurrency-fiat exchange in Singapore, along with other crypto-fiat services throughout South Asia. Binance initially announced its plans to build a crypto-fiat exchange in Singapore in September.
Commenting on Binance’s plans to break into the Southeast Asian market, Wei Zhou, CFO at Binance, said that the exchange “look[s] forward to building up the blockchain ecosystem and working with all stakeholders in Singapore to support continued innovation in the local fintech space.” Binance’s operations in Singapore are subject to Know-Your-Customer (KYC) and anti-money laundering (AML) compliance.
Earlier this month, Binance announced the launch of its fiat-to-crypto exchange in Uganda. Wei said that the company's first fiat-to-crypto exchange in the country will help maintain sustainable economic stability in Africa, noting that the company plans to bring “more innovations to the region.”
This month, Binance also partnered with crypto compliance provider and research firm Chainalysis in order to improve its detection of suspicious transactions. Chainalysis will purportedly ease the process of KYC and AML compliance programs through the use of real-time monitoring to track the provenance of each transaction made on Binance’s platform.
At press time, Binance’s adjusted trading volume over the last 24 hours is over $846 million, up over 40 percent, according to data from CoinMarketCap.