YO: The Blend — LYOPAY Crypto Visionary Summit, Cryptocurrency Turnover Growing in Russia, South Korea Launches Metaverse Fund

What happened in the crypto world in the last week? Let’s see some interesting news together!

LYOPAY Crypto Visionary Summit 2023

We are thrilled to announce Crypto Visionary Summit 2023, the online crypto event dedicated to sharing with our community the latest updates about the LYOPAY Ecosystem joining with Zenit World, eager to showcase their innovative solutions to our respective communities.

The summit will be on March 19, 2023 at 12:00 pm, London time (UTC+ 0). To watch it, visit live.lyopay.com

Live translations are available in Bengali, French, German, Greek, Hindi, Italian, Japanese, Korean, Portuguese, Russian, Serbian, and Spanish.

Cryptocurrency Turnover Growing in Russia

Cryptocurrency turnover in Russia has been growing rapidly, according to a recent report submitted to President Vladimir Putin by the country’s financial watchdog, Rosfinmonitoring. The report stated that the total turnover of cryptocurrencies in Russia reached 45 billion rubles (approximately $600 million) in 2020, an increase of 147% compared to the previous year.

Rosfinmonitoring also reported a significant increase in the number of crypto exchanges operating in Russia, with the total number increasing from 30 in 2019 to 45 in 2020.

South Korea Launches Metaverse Fund

The country has been taking steps to regulate the cryptocurrency market in recent years, with a law on digital financial assets coming into effect in January 2021.

Following its plan to become a metaverse hub by 2026, South Korea has announced the launch of a fund dedicated to supporting metaverse projects. Within the five-year metaverse development roadmap, the country aims to activate the ecosystem for metaverse platforms, nurture professionals, and foster companies.

According to the Ministry of Science and ICT of South Korea, the government has invested as much as 27.7 billion Korean won ($21 million) into local services looking to utilize the metaverse. This fund will be used to foster 13 new projects that are exploring the integration of virtual worlds in the healthcare, tourism, and education sectors.

The news follows the announcement made by the South Korean government about investing 40 billion Korean won ($30 million) to fund smaller businesses developing metaverse-related projects.