Asia Express – Cointelegraph Magazine

Our weekly roundup of news from East Asia curates the industry’s most important developments.

• Thailand may soon have a national airdrop in the works where every citizen 16 years and older will receive 10,000 Baht ($285).
• Thailand’s ruling Pheu Thai party will consult the Bank of Thailand in developing a “utility type 1” token necessary for the airdrop.
• A 100 Baht fee will be charged per user for the KYC process.
• The airdrop will not be equivalent to fiat Baht funds. Users can only spend the digitized tokens within four kilometers of their residence and the tokens will only be valid for a period of six months.
• South Korean Bitcoin lender Delio is expecting a recovery rate of just 50% to 70% on its assets.
• Delio is currently under investigation by South Korean regulatory authorities for allegations of fraud, embezzlement, and breach of trust.
• Vietnam is currently ranked first in the world in crypto adoption, with up to 19% of its 18-64 adult population using digital assets.
• 76% of Vietnamese crypto users say that they invest in digital assets based on advice from friends.
• Vietnam is expected to generate $109.4 million in revenue from crypto exchanges this year.
• Binance Japan plans to list 100 coins and tokens.
• In a government-sponsored conference, officials from the City of Shenzhen pledged 15 million Yuan ($2.1 million) for municipal e-CNY airdrops over the next three years.
• The e-CNY CBDC has surpassed $123 billion in cumulative transactions since 2021 in China.

Thailand may soon have a national airdrop in the works where every citizen 16 years and older will receive 10,000 Baht ($285). The ruling Pheu Thai party will consult the Bank of Thailand in developing a “utility type 1” token necessary for the airdrop. The airdrop will not be equivalent to fiat Baht funds, as users can only spend the digitized tokens within four kilometers of their residence, and the tokens will only be valid for a period of six months. South Korean Bitcoin lender Delio is expecting a recovery rate of just 50% to 70% on its assets, and the company is currently under investigation by South Korean regulatory authorities. Vietnam is currently ranked first in the world in crypto adoption, with up to 19% of its 18-64 adult population using digital assets. Binance Japan plans to list 100 coins and tokens, while officials from the City of Shenzhen in China have pledged 15 million Yuan ($2.1 million) for municipal e-CNY airdrops over the next three years.

Thailand may soon have a national airdrop in the works where every citizen 16 years and older will receive 10,000 Baht ($285). The ruling Pheu Thai party will consult the Bank of Thailand in developing a “utility type 1” token necessary for the airdrop. The airdrop will not be equivalent to fiat Baht funds, as users can only spend the digitized tokens within four kilometers of their residence, and the tokens will only be valid for a period of six months. South Korean Bitcoin lender Delio is expecting a recovery rate of just 50% to 70% on its assets, and the company is currently under investigation by South Korean regulatory authorities. Vietnam is currently ranked first in the world in crypto adoption, with up to 19% of its 18-64 adult population using digital assets. Binance Japan plans to list 100 coins and tokens, while officials from the City of Shenzhen in China have pledged 15 million Yuan ($2.1 million) for municipal e-CNY airdrops over the next three years.

Thailand may soon have a national airdrop in the works where every citizen 16 years and older will receive 10,000 Baht ($285). The ruling Pheu Thai party will consult the Bank of Thailand in developing a “utility type 1” token necessary for the airdrop. The airdrop will not be equivalent to fiat Baht funds, as users can only spend the digitized tokens within four kilometers of their residence, and the tokens will only be valid for a period of six months. South Korean Bitcoin lender Delio is expecting a recovery rate of just 50% to 70% on its assets, and the company is currently under investigation by South Korean regulatory authorities. Vietnam is currently ranked first in the world in crypto adoption, with up to 19% of its 18-64 adult population using digital assets. Binance Japan plans to list 100 coins and tokens, while officials from the City of Shenzhen in China have pledged 15 million Yuan ($2.1 million) for municipal e-CNY airdrops over the next three years.

Thailand may soon have a national airdrop in the works where every citizen 16 years and older will receive 10,000 Baht ($285). The ruling Pheu Thai party will consult the Bank of Thailand in developing a “utility type 1” token necessary for the airdrop. The airdrop will not be equivalent to fiat Baht funds, as users can only spend the digitized tokens within four kilometers of their residence, and the tokens will only be valid for a period of six months. South Korean Bitcoin lender Delio is expecting a recovery rate of just 50% to 70% on its assets, and the company is currently under investigation by South Korean regulatory authorities. Vietnam is currently ranked first in the world in crypto adoption, with up to 19% of its 18-64 adult population using digital assets. Binance Japan plans to list 100 coins and tokens, while officials from the City of Shenzhen in China have pledged 15 million Yuan ($2.1 million) for municipal e-CNY airdrops over the next three years.

Thailand may soon have a national airdrop in the works where every citizen 16 years and older will receive 10,000 Baht ($285). The ruling Pheu Thai party will consult the Bank of Thailand in developing a “utility type 1” token necessary for the airdrop. The airdrop will not be equivalent to fiat Baht funds, as users can only spend the digitized tokens within four kilometers of their residence, and the tokens will only be valid for a period of six months. South Korean Bitcoin lender Delio is expecting a recovery rate of just 50% to 70% on its assets, and the company is currently under investigation by South Korean regulatory authorities. Vietnam is currently ranked first in the world in crypto adoption, with up to 19% of its 18-64 adult population using digital assets. Binance Japan plans to list 100 coins and tokens, while officials from the City of Shenzhen in China have pledged 15 million Yuan ($2.1 million) for municipal e-CNY airdrops over the next three years.

Thailand may soon have a national airdrop in the works where every citizen 16 years and older will receive 10,000 Baht ($285). The ruling Pheu Thai party will consult the Bank of Thailand in developing a “utility type 1” token necessary for the airdrop. The airdrop will not be equivalent to fiat Baht funds, as users can only spend the digitized tokens within four kilometers of their residence, and the tokens will only be valid for a period of six months. South Korean Bitcoin lender Delio is expecting a recovery rate of just 50% to 70% on its assets, and the company is currently under investigation by South Korean regulatory authorities. Vietnam is currently ranked first in the world in crypto adoption, with up to 19% of its 18-64 adult population using digital assets. Binance Japan plans to list 100 coins and tokens, while officials from the City of Shenzhen in China have pledged 15 million Yuan ($2.1 million) for municipal e-CNY airdrops over the next three years.

Thailand may soon have a national airdrop in the works where every citizen 16 years and older will receive 10,000 Baht ($285). The ruling Pheu Thai party will consult the Bank of Thailand in developing a “utility type 1” token necessary for the airdrop. The airdrop will not be equivalent to fiat Baht funds, as users can only spend the digitized tokens within four kilometers of their residence, and the tokens will only be valid for a period of six months. South Korean Bitcoin lender Delio is expecting a recovery rate of just 50% to 70% on its assets, and the company is currently under investigation by South Korean regulatory authorities. Vietnam is currently ranked first in the world in crypto adoption, with up to 19% of its 18-64 adult population using digital assets. Binance Japan plans to list 100 coins and tokens, while officials from the City of Shenzhen in China have pledged 15 million Yuan ($2.1 million) for municipal e-CNY airdrops over the next three years.

Binance Japan plans to list 100 coins and tokens “as soon as possible.” The parent exchange, Binance, has surpassed 150 million in user count with an average daily trading volume of $65 billion. Vietnam is currently ranked first in the world in crypto adoption, with up to 19% of its 18-64 adult population using digital assets. Vietnam is home to around 200 blockchain projects and is expected to generate $109.4 million in revenue from crypto exchanges this year. Among Vietnamese crypto users, 76% invest in digital assets based on advice from friends, and 70% believe that the crypto bear market will last less than one year or has already ended. Additionally, centralized exchanges are considered just as useful as decentralized ones, but the majority of crypto owners still use decentralized exchanges. In a government-sponsored conference, officials from the City of Shenzhen pledged 15 million Yuan ($2.1 million) for municipal e-CNY airdrops over the next three years. China’s e-CNY CBDC has already surpassed $123 billion in cumulative transactions since 2021.

Binance Japan to list 100 coins

On August 30, Tsuyoshi Chino, CEO of Binance Japan, held an online business briefing discussing the exchange’s domestic expansion strategy. During the session, Chino said that Binance Japan would seek to list 100 coins and tokens “as soon as possible.” 

Local news reports note that Binance Japan currently provides spot trading of cryptocurrencies alongside staking “Simple Earn” programs. The use of margin trading is currently not available unless the exchange obtains a regulatory license. The presentation also revealed that its parent exchange, Binance, has surpassed 150 million in user count with an average daily trading volume of $65 billion. Earlier this year, cryptocurrency exchange Coinbase ceased operations in Japan, citing difficult market conditions.

Shenzhen’s 15 million Yuan for airdrops

In a government-sponsored conference promoting the digital Chinese Yuan central bank digital currency (e-CNY CBDC), officials from the City of Shenzhen pledged 15 million Yuan ($2.1 million) for municipal e-CNY airdrops over the next three years. Binqquan Wei, vice governor of Agricultural Bank of China Shenzhen, noted that during trials, the e-CNY has proven to be a highly efficient method for consumer transaction receipts via its immutable distributed ledger technology: 

“The platform [Our e-CNY CBDC] currently has more than 200 merchants, involving 11 key industries such as education and training, catering, pet services, elderly care, and sports.”

China’s central government has been heavily promoting the e-CNY CBDC as a means of stimulating the country’s ailing economy amid a looming recession. In its latest figures, the CBDC has surpassed $123 billion in cumulative transactions since 2021, with test sites running in 17 provinces and 26 districts.