NEOPIN

<p>NEOPIN, the global CeDeFi platform of South Korean investment holding company Neowiz Holdings, <a href="https://www.khgames.co.kr/news/articleView.html?idxno&#61;217022" rel="noopener noreferrer nofollow">announced</a> the strengthening of its strategy to enter the Japanese market as part of its global expansion plan.</p><h2 id="header-0">Three key initiatives</h2><p>To achieve this goal, NEOPIN has devised three key initiatives. Firstly, it will make investments in Japanese partners and provide support for their entry into other markets such as Korea, the Middle East, and Africa. Secondly, NEOPIN aims to facilitate the entry of its existing partners into Japan. Lastly, the Korean platform plans to collaborate closely with the Finschia Foundation and its members to effectively drive its expansion efforts in Japan.</p><h2 id="header-1">Web3 landscape in Japan</h2><p>Since the Mt. Gox incident in 2014, wherein the major Tokyo-based cryptocurrency exchange went bankrupt due to hacking attacks, Japan has responded by implementing stricter regulations. However, in recent times, the Japanese government has displayed a more positive stance towards Web3 technology, aiming to attain dominance in this sector. Illustrating this commitment, the Web3 project team, operating under the ruling Liberal Democratic Party’s (LDP) Working Group for Digital Society Promotion, <a href="https://medium.com/&#64;coinness.gl/ldp-working-group-proposes-web3-industry-plan-to-japans-prime-minister-9bf6a5d81635" rel="noopener noreferrer nofollow">released</a> the Web3 White Paper in April. The document underscores Japan’s determination to lead the global market by fostering a business-friendly environment for Web3 innovation.</p><p>Moreover, Prime Minister Fumio Kishida recently delivered a keynote speech at Japan’s annual Web3 conference, WebX, reaffirming the government’s dedication to establishing a Web3-friendly ecosystem. These initiatives signal Japan’s potential to contribute to the growth of the cryptocurrency and decentralized finance (DeFi) industry.</p><h2 id="header-2">Adaptation to regulations</h2><p>NEOPIN’s operator <a href="https://medium.com/&#64;coinness.gl/blockchain-firm-neoply-rebrands-as-neowiz-partners-to-focus-on-investment-fd9f2e46900f" rel="noopener noreferrer nofollow">Neowiz Partners</a>, formerly known as NEOPLY, became part of the Innovation Programme of the Abu Dhabi Investment Office (ADIO) in the United Arab Emirates (UAE), with an aim to become the world’s first regulated DeFi platform. It is also working with the Abu Dhabi Global Market (ADGM) to develop a DeFi regulatory framework for the Gulf nation. In a similar vein, NEOPIN strives to respond quickly to the changing regulatory landscape in Japan to ensure the Korean CeDeFi protocol firmly establishes its presence in the Japanese market.</p><p>In addition to providing direct and indirect service offerings in Japan, NEOPIN will also invest in and partner with local Web3 projects. One significant step taken by NEOPIN was its participation in IVS Crypto 2023, a high-profile Web3 startup event held in Kyoto in June. At this event, NEOPIN engaged with various Japanese businesses, initiating important connections. Since then, the Korean platform has been making progress in advancing communication and collaborations with Japanese enterprises.</p><h2 id="header-3">NEOPIN as blockchain validator</h2><p>Collaboration with the Finschia Foundation will also be strengthened to achieve success in the Japanese market. In July, the blockchain mainnet Finschia <a href="https://medium.com/&#64;coinness.gl/3d-avatar-platform-goodgang-labs-joins-finschia-as-joint-mainnet-operator-2589bd8b5b43" rel="noopener noreferrer nofollow">launched its governance consortium</a> and revealed its members. Within just four hours of the consortium’s launch, NEOPIN, as a governance member, received more than 1 million delegated votes, maintaining its position at the top spot in terms of voting power ever since. The Finschia mainnet was established by Line Tech Plus, a blockchain subsidiary of Tokyo-based messaging app giant Line Corporation.</p><p>Serving as validators on various blockchains, including Ethereum, Tron, Cardano, and Cosmos, since 2017, NEOPIN has acquired blockchain and technical expertise. Last month, NEOPIN <a href="https://medium.com/&#64;coinness.gl/neopin-launches-south-koreas-first-eth-liquid-staking-product-c2464603c22a" rel="noopener noreferrer nofollow">launched</a> liquid staking products for ETH and KLAY, making it Korea’s first blockchain project to introduce an ETH liquid staking product. Liquid staking is a mechanism that allows users to deposit their cryptocurrencies into a staking pool, where they receive liquidity provider tokens in exchange. By holding these tokens, users can further redeposit them to earn additional yield.</p><p>In light of this development, NEOPIN CEO Kim Yong-ki emphasized the CeDeFi protocol’s global expansion strategy, establishing its bases in the UAE, Japan, and Indonesia. These locations will serve as hubs for NEOPIN’s expansion efforts in the Middle East and Africa, Northeast Asia, and Southeast Asia. Kim added that NEOPIN will leverage its physical and human resources to achieve notable outcomes in the Japanese market.</p>

NEOPIN Strengthens Japanese Market Strategy for Its Global Expansion

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