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Singapore aims to support Web3 fintech solutions
The Monetary Authority of Singapore (MAS), the country’s central bank, has announced that it is committing up to 150 million Singapore dollars (around $112 million), to support various financial technology solutions like Web3. In an announcement, MAS highlighted that the funds will be spent in three years under its renewed Financial Sector Technology and Innovation (FSTI) scheme. According…
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Hong Kong launches a task force for the Web3 and metaverse platforms
The cybersecurity unit of the Hong Kong Police Force has launched CyberDefender, a new metaverse platform designed to educate the public about the potential dangers associated with Web3 and the metaverse. According to a May 27 statement, the Cyber Security and Technology Crime Bureau (CSTCB) of the Hong Kong Police Force unveiled the new metaverse platform…
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Mitsubishi, Fujitsu and Other Tech Firms to Create ‘Japan Metaverse Economic Zone’
Several major Japanese technology, manufacturing and finance firms are teaming up to create the infrastructure for an open metaverse in order to propel the nation’s Web3 strategy forward. IT services company Fujitsu said Monday in a press release that it’s collaborating with nine other companies, including automobile manufacturer Mitsubishi and global bank Mizuho, to create an interoperable…
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South Korea launches a replica of Seoul in the metaverse
South Korea is bringing Seoul to the metaverse, launching a virtual replica of the capital city with a goal of improving its public services, Forkast reported Monday. Known as Metaverse Seoul, the virtual world is estimated to be completed by 2026. The initial stage invites citizens to use avatars to get their tax questions answered, access…
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Japan is looking to invest in NFTs and the Metaverse
Japan’s Prime Minister Fumio Kishida said in a policy speech on Monday that the country’s plans for investing in digital transformation include non-fungible tokens (NFT) and metaverse services. The country has steadily been promoting investment in digital technology, including through tax incentives for companies that embrace a digital future. In his speech to Japan’s parliament, Kishida said the country…
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Indonesian bank to launch digital currency
Bank of Indonesia Governor Perry Warjiyo has announced developments in its plans to launch a central bank digital currency, or CBDC, for “various digital economic and financial transactions.” In a Dec. 5 speech at the central bank’s annual meeting, Warjiyo said the bank planned to release details on the conceptual design of a digital rupiah — a…
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