ChainCatcher news, Thailand's established bank Siam Commercial Bank (SCB) announced a partnership with fintech company Lightnet to provide customers with stablecoin cross-border payment and remittance services. The service allows customers to conduct cross-border transactions 24 hours a day, 7 days a week, significantly reducing transaction costs.It is reported that the service has passed the regulatory sandbox testing by the Bank of Thailand.

ChainCatcher news, according to The Block, the Ethereum restaking protocol Kelp announced the completion of a $9 million token financing at a valuation of $90 million, led by SCB Limited and Laser Digital (the cryptocurrency division of Nomura Securities), with participation from Bankless Ventures, Hypersphere Ventures, Draper Dragon, DACM, Cypher Capital, GSR, HTX Ventures, and DWF Ventures. Additionally, angel investors such as Scott Moore from Gitcoin, Sam Kazemian from Frax Finance, Marc Zeller from Aave Chan Initiative, Saurabh Sharma from Jump Crypto, and Amrit Kumar from AltLayer also participated in this round of investment.Co-founder Amitej Gajjala stated that Kelp DAO expects to "launch governance tokens soon" and is "currently undergoing legal and exchange due diligence."According to the Web3 asset data platform RootData, [Kelp DAO](https://www.rootdata.com/zh/Projects/detail/Kelp DAO?k=MTA2OTA= "Triple Yield Restaking Protocol") is a triple yield restaking protocol based on EigenLayer. rsETH is a liquidity re-staking token (LRT) issued by Kelp DAO, designed to provide liquidity for non-liquid assets deposited into restaking platforms (such as EigenLayer).

ChainCatcher news, Shinhan Bank has collaborated with SCB TechX, the technology innovation business unit of Siam Commercial Bank, and other financial institutions to complete a proof of concept (PoC) pilot for stablecoin remittances based on the open-source proof-of-stake blockchain Hedera. This pilot achieved real-time settlement of Thai Baht, New Taiwan Dollar, and Korean Won, as well as real-time exchange rate integration. Additionally, the PoC is EVM-compatible, meaning that any EVM-based stablecoin issuer can leverage this framework. (Source link)

ChainCatcher news, the universal interoperability platform Axelar Network announced the launch of a $60 million startup ecosystem program, dedicated to accelerating the development of decentralized applications and protocols that can replace CEX, and promoting the development of Web3 applications to address global issues that the centralized internet cannot solve.The program is currently supported by over 15 blockchain investors, including Blockchange, Chorus One, Collab+Currency, Cygni, dao5, DCVC, Divergence Ventures, Dragonfly Capital, Lemniscap, Morningstar Ventures, Nima Capital, Node Capital, North Island Ventures, Rockaway Blockchain Fund, and SCB 10X. (source link)

ChainCatcher news, the Securities Commission of the Bahamas (SCB) issued a statement addressing questions regarding the control of assets of FTX's Bahamian subsidiary, FTX Digital Markets Ltd (FDM). On November 10, the Commission determined that FDM's customers and creditors need protection under the DARE Act and suspended FDM's business license. Subsequently, a petition was filed with the Supreme Court of the Bahamas to place FDM into a temporary liquidation process. Given the nature of digital assets and the risks associated with hacking and attacks, the Commission determined that liquidating FDM alone would not be sufficient to protect FDM's customers and creditors. On November 12, the Commission requested an additional order from the Supreme Court of the Bahamas under the DARE Act to transfer all of FDM's digital assets into a wallet controlled by the Commission.The Securities Commission of the Bahamas stated that it will continue to assess the situation and take actions in accordance with the directives issued by the Supreme Court of the Bahamas, and will cooperate with other regulatory authorities to take further actions as necessary to preserve FDM's assets and protect the interests of FDM's customers and creditors. Additionally, the Commission will continue to investigate the facts and circumstances surrounding the FTX liquidity crisis and any potential violations of Bahamian law. (source link)