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BeInCrypto’s Asia Crypto Roundup dives into the region’s most crucial updates and developments. Covering key markets like China, South Korea, Japan, and Singapore, our roundup offers insights into Asia’s regulatory shifts, blockchain innovations, major project launches, and market trends.  Last week’s notable events include Story Protocol’s successful $80 million series B funding round and Dubai’s legal ruling that recognizes cryptocurrency payments for salaries. Bitpanda and RAKBANK Partner to Boost UAE’s Crypto Access On August 19, Bitpanda Technology Solutions (BTS) and The National Bank of Ras Al Khaimah (RAKBANK) finalized an agreement to enhance digital asset access in the UAE. This collaboration will enable UAE residents to manage various digital assets securely. The partnership is a strategic move that allows banks to participate in the virtual asset economy without developing in-house capabilities. In this initiative, Bitpanda Broker MENA DMCC’s operational approval and licensing by the Virtual Assets Regulatory Authority (VARA) are crucial. Similarly, RAKBANK must obtain approval from the Central Bank of the UAE (CBUAE). Read more: Top 9 Safest Crypto Exchanges in 2024 Korean Founder Secures $80 Million from Andreessen Horowitz On August 21, venture capitalist Andreessen Horowitz (a16z) announced leading an $80 million series B funding round for PIP Labs, the developer of Story Protocol. The funding also saw participation from Polychain Capital and notable investors like HYBE founder Bang Si-hyuk and Paris Hilton. This investment propels PIP Labs’ valuation at over $2.2 billion. Story Protocol is a blockchain startup that helps creators protect their intellectual property (IP). It aims to generate sustainable revenue in an era where AI-driven copyright theft is becoming increasingly prevalent. Furthermore, it provides creators with a platform to register their IP, set usage terms, and receive compensation for their work. These will effectively protect their creations from unauthorized AI usage. “We believe that all…

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Filed under: News - @ August 26, 2024 12:18 am