Wemade’s new GAKS alliance brings Chainalysis, CertiK and SentBe together to support a compliant KRW stablecoin mainnet after multiple setbacks. Blockchain gaming company Wemade is pushing for a Korean won-based stablecoin ecosystem, forming a Global Alliance for KRW Stablecoins (GAKS) with Chainalysis, CertiK and SentBe as founding partners. Wemade announced that the alliance will support StableNet, a dedicated mainnet for Korean won-backed stablecoins, with publicly released code and a consortium model that aims to meet institutional and regulatory requirements. Within the partnership, Chainalysis will integrate threat detection and real-time monitoring, while CertiK will handle node validation and security audits. Read more
Licensed by Austria’s Financial Market Authority, KuCoin EU can operate across 29 EEA countries, excluding Malta. Major cryptocurrency exchange KuCoin is the latest company to secure a license under the European Union’s Markets in Crypto-Assets Regulation (MiCA) framework. KuCoin’s European arm, KuCoin EU, secured a MiCA license from the Financial Market Authority of Austria, the company said in a statement shared with Cointelegraph on Friday. The authorization allows KuCoin EU to offer crypto asset services across 29 countries in the European Economic Area (EEA), excluding Malta, according to the exchange’s representatives. Read more
Tokenization promises faster and cheaper markets, but the IMF warns that new risks and government intervention will accompany the shift to programmable finance. The IMF dropped an explanatory video on its X handle today exploring the new phenomenon of tokenized markets. The international body responsible for ensuring the stability of the global monetary system recognized the advantages of tokenized markets in the video, but warned that they can be prone to flash crashes and are more volatile than traditional markets. “Tokenization can make financial markets faster and cheaper, but efficiencies from new technologies often come with new risks,” the video said. Read more