Binance’s DEX; Bitmain to mine Sia, Dash, $10bn rev in 2018; China accelerate blockchain adoption
What Crypto insiders are reading on Asia.
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In this episode, Joyce Yang from Global Coin Research is joined by Zac Cheah, CEO of Pundi X. Zac is originally from Malaysia and operates Pundi X out of Singapore. He has seen the evolution of cryptocurrency adoption in Singapore and Southeast Asia first hand. In the podcast, Zac provides useful insights on working across different jurisdictional and regulatory boundaries. He discusses in depth on operating in Japan, China, Singapore and Indonesia, as well as the importance of working with local complementary tokens.
Topics discussed in the podcast
- 0:11?—?Today’s Guest: Zac Cheah of Pundi X.
- 4:15?—?Starting in Southeast Asia?—?general market trend and opportunities
- 5:25?—?Indonesia, Malaysia, and Thailand government on what they are doing with cryptocurrencies
- 8:10?—?How to communicate and engage with those regulators?
- 11:20?—?Pundi X’s market expansion strategy
- 15:00?—?Advice for North America companies to thrive in Southeast Asia
- 20:30?—?How Pundi X go to market in China/Korea/Japan given those large market opportunities
- 25:50?—?How understanding the popular coins will help your community building strategy locally
- 28:50?—?Discrepancies in the perceptions of certain tokens between the West and East.
- 33:52?—?Approach to hiring and growth in new regions. I discover what complementary currency is
- 40:17?—?Who will win? China or Southeast Asia?
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? Quote of the week
“But it’s true that each jurisdiction has their favorite token. so it’s out my perception that if you know, if you have a lot of love you also have a lot of hate. but I believe there are coins that are being loved more in certain countries than other coins, they also get a lot of hate. they have a lot of visibility, I think that’s the word, visibility. so Omisego has a lot of visibility in Thailand. Kyber and DigiX has a lot of visibility in Singapore, it’s home grown or semi-home grown blockchain company. i think we have quite a bit of love from Korea, Japan, Australia and also Indonesia. Australia also has a lot of interest in our token. NEM is huge in Japan. Qtum is huge in Korea and I’ve heard Dash is huge in Latin America. So I think different areas have different coin.”
– one of the many interesting observations from Zac Cheah, CEO of Pundi X. Check out the rest of the podcast here
? Top News from Wednesday through Friday
From yours truly- Bitmain on target for $10B revenue this year, looking to IPO in $40-$50bn valuation. https://tcrn.ch/2KIbdAN
Binance has unveiled the first demo of its much-anticipated decentralized trading platform. http://bit.ly/2MbcqFx
The Ministry of Industry and Information Technology (MIIT) of China announced that it would include two new projects, Nuls and Tezos, into their Crypto ranking that previously highlighted EOS as their number 1 choice. https://yhoo.it/2Ml7M7R Additionally, MIIT is reportedly considering ways to accelerate blockchain adoption. http://bit.ly/2KJedfW
Bitmain released Antrouter R3-DASH & R3-SIA, new miners that is also dual-function WiFi Router and Crypto Miner that can mine dashcoin & siacoin. http://bit.ly/2Mc5s39
About 50 ICO projects have shown interest in applying for Thailand licence. http://bit.ly/2P4tv2y
India government is considering launching crypto tokens for financial transactions in the country, despite its hardline stance on cryptocurrencies. http://bit.ly/2OU3JxT
? Coin and Token News
Aelf CEO just had a Reddit AMA. http://bit.ly/2P1HAO8
Tron has indicated it sealed a strategic partnership withMoshroom, a China-based portable smart toilet supplier. http://bit.ly/2P0RoIb
Recap of AMA with Jake from Rate3, a company recently backed by FBG Capital and Kenetic. http://bit.ly/2MyJsMx
THEKEY kicksoff meeting with Chinese government on research into social insurance blockchain Applications. http://bit.ly/2OYq511
? Exchange News
Binance Official stance on listings & partnerships. http://bit.ly/2P1z2H8
Singapore-based AlphaBit Cryptocurrency Exchange will be opening up a new office in Malta. http://bit.ly/2KLRL65
? Business News
China’s first digital invoice on the blockchain has been issued in the southeastern city of Shenzhen. http://bit.ly/2Mz1gaA
Singaporean VC Golden Gate Ventures is launching Southeast Asia’s ‘first dedicated VC cryptocurrency fund’ with $10mn in invested capital. http://bit.ly/2KLTTdZ
Korea’s Second largest bank, Shinhan Bank, has formed an alliance with KT to jointly develop a blockchain technology-based service. http://bit.ly/2MkjnEb
? Regulation News
Beijing court has recently concluded a case that a bitcoin trader who was sent 5 bitcoins in error must repay it to the exchange in spite of the trader’s allegation that the exchange violated the crypto trading ban in China. http://bit.ly/2P0XsjW
Philippine Digital Currency Expert: The Philippines is one of the fastest growing digital currency communities. http://bit.ly/2MeyQFH
Thai police have detained 27-year old actor Jiratpisit “Boom” Jaravijit in an alleged $24 million cryptocurrency scam. http://bit.ly/2KKRqjU
What did you guys think of our Global Coin podcast thus far? What do you want to read or learn more about on Asia?
Check our past 7 weekly pieces on Southeast Asia Cryptocurrency Developments, A Guide to Asia Crypto funds/investors, Takeaways on Asia Crypto from Techcrunch Zug, Cryptokitties, Binance, Bitmain, and China’s Crypto winners