Blockchain
Web 3.0 Era Begins, Lion Group Holdings (LGHL.US) Gets a Head Start
Lion Group Holding LTD. (“Lion Group” or “The Group”) (NASDAQ: LGHL), operator of an all-in-one trading platform that offers a wide spectrum of products and services as well as a developer of new growth products including SPAC sponsorship, NFT and metaverse-related initiatives, today announced that Hong Kong’s Statement in support of the development of virtual assets will serve to further catalyze development of its existing Web 3.0 projects. LGHL is currently wrapping up phase one development of its metaverse project, Lion World.
Recently, the Financial Secretary of Hong Kong released a “Policy Statement on the Development of Virtual Assets (“VA”) in Hong Kong” (“the Statement”). The Statement outlined Hong Kong’s Policy on VA, with a view that Distributed Ledger Technology (DLT) and Web 3.0 have the potential to become the future of finance and commerce. It invites the global VA community to leverage Hong Kong’s status as an international financial center to realize the potential of financial innovations under a clear, agile and facilitating regulatory environment. The statement also announced a number of pilot projects which include non-fungible token (NFT) issuance, green bond tokenization and e-HKD.
Development of Lion World began in 2021 as an extension of its “Metaverse AI Tool” development partnership with Dawa Technology. Lion World, built with Unreal Engine 4, offers an expansive and fully immersive metaverse experience with the provision of tools and infrastructure to support a wide range of activities. This includes blockchain game development, supporting Indie game development through creation of easy to use UGC tools, on-chain verification, play to earn models, avatar systems and more. Metapals and Mecha are two blockchain games built within Lion World which will soon enter alpha testing.
Lion Group’s Metawords project in collaboration with world renowned artist Xu Bing seeks to pioneer a new use case for NFTs, allowing users to create their own stories through a universal lexicon of symbols from Xu Bing’s “Book from the Ground“.
Mr. Wang Chunning (Wilson), CEO of Lion Group Holdings, said, “Out of the global financial centers in which Lion Group operates, Singapore and Hong Kong remain key focus points for future development, with a series of outlined policies on virtual assets coinciding with LGHL’s current development outlook.“
“The appeal of virtual assets to global investors is evident, as outlined in the Statement, not only will there be future opportunities as virtual assets evolve within Web 3.0 and the Metaverse, but it is likely virtual assets will in future become an indispensable part of the market.”
“We are convinced that the Web 3.0 era will bring huge benefits to the digital market and that Lion World with its core competitiveness will become an important metaverse project within this space.“
“We are optimistic about the development prospects of Virtual Assets, Financial Technology and Web 3.0. We will continue to look forward as to how we can best apply new technologies and practices to improve businesses or innovate product experiences for users and will continue to strive to deliver meaningful value and growth for our shareholders.”
Blockchain
Switzerland Regulatory Technology Business Report 2024: Market to Surpass $550 Million by 2029, Driven by Collaborative Opportunities and Data Privacy Solutions
Swiss RegTech Market
Following a management buy-out by the management team at TOKO FZE, the business has been rebranded as Scintilla, the revolutionary platform providing on-chain solutions and services to make investments more inclusive, accessible, and efficient. Having been developed within DLA Piper’s Law& innovation portfolio, TOKO – now Scintilla has a fresh brand identity, new leadership, and innovative product offerings. Scintilla is set to reshape the future of finance by enabling businesses to unlock the power of blockchain technology across various asset classes, with DLA Piper remaining as a minority shareholder.
Regulated by Dubai’s Virtual Assets Regulatory Authority (VARA), Scintilla is one of the first digital asset companies to gain full market licenses, marking a significant milestone in the sector’s landscape. Being a regulated entity underscores Scintilla’s commitment to the highest standards of compliance and security while pioneering new solutions for tokenization in the global market.
Innovating Finance Through Tokenization
Scintilla offers a comprehensive suite of tokenization services designed to bring liquidity, transparency, and efficiency to traditional finance sectors. From tokenized financial products, and real estate all the way to new legal funding products, Scintilla’s digital asset solutions enable clients to tokenize assets that were previously inaccessible to investors or illiquid.
Scintilla’s services include:
Advisory Services: The gateway to successful market entry. From initial opportunity assessment to strategic development of game-changing tokenization-based solutions.
Use Case Development: Bringing products to life. From initial POC development and iteration towards MVP all the way through to the full market launch.
Broker/Dealer Services: Creating new markets. Regulated primary market trading, ensuring the highest levels of trust and security within the tokenization space.
Exchange Services: Universal participation. Seamless, secure secondary trading of tokenized assets, with industry-leading technology and compliance standards.
Scintilla is uniquely positioned to capitalize on the confluence of Dubai’s world-leading regulatory environment, cutting-edge technology, and the burgeoning RWA market.
A New Era for Scintilla
The relaunch of Scintilla represents more than just a rebranding—it signifies the company’s growing ambition to lead in the digital asset space. With an expanded team of industry experts, including continuing Board representation from DLA Piper, and a clear strategic vision, Scintilla is set to drive the adoption of tokenization in traditional financial markets.
“Our relaunch marks the beginning of an exciting new chapter for Scintilla and the wider industry. We are committed to pushing the boundaries of what is possible in digital finance while ensuring our solutions are underpinned by strong regulatory compliance,” said Tim Popplewell, CEO of Scintilla. “With our new suite of products and services, we are empowering investors to transform the way they manage and access value.”
Jean-Pierre Douglas-Henry, Managing Director, Sustainability and Resilience, DLA Piper added: “Innovation is a key strand in our business strategy. As our business focuses on developing and nurturing innovations that add significant value to our clients through our Law& innovation program, it is fantastic to see this solution spun out into the thriving digital asset space for the next stage of its growth and development.”
The post DLA Piper’s crypto tokenization engine TOKO relaunches as Scintilla appeared first on HIPTHER Alerts.
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