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NEAR Launches Near.com super app, touting AI capabilities and confidential transactions

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Near.com super app (Margaux Nijkerk/ CoinDesk)

San Francisco, CA – NEAR is launching Near.com, a new crypto wallet and consumer app that aims to make blockchain technology feel as simple as using a traditional finance app, while positioning itself at the intersection of crypto and artificial intelligence (AI).

Polosukhin previously co-authored the paper that introduced the transformer model, the architecture underpinning modern AI systems like ChatGPT and many other large language models, and has increasingly focused on how blockchain infrastructure can support the next wave of AI-driven applications.

“We are entering the world where AI is becoming our interface to compute,” Polosukhin said during the presentation.

NEAR token is down nearly 3% over the last 24 hours.

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At its core, Near.com is designed to remove much of the friction that has long made crypto confusing for everyday users. Instead of worrying about gas fees, private keys or switching between different blockchains, users can manage their assets in one place.

“You don’t need to think about blockchains. You don’t need to think about gas, keys,” Polosukhin said. “You just use it as your main wallet.”

Near.com supports a range of digital assets, including bitcoin, stablecoins, NFTs and other tokens. The idea is to bring together activity that is typically spread across multiple wallets and networks into a single, streamlined interface.

Near.com super app (Margaux Nijkerk/ CoinDesk)

Near.com super app (Margaux Nijkerk/ CoinDesk)
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But NEAR’s ambitions extend beyond building just another wallet. The company is betting that the next big wave in crypto will come from its convergence with AI.

As AI agents become more capable, like booking travel, managing emails or handling online purchases, they will increasingly need the ability to transact. That’s where crypto infrastructure comes in. Blockchains can provide programmable payments, global transfers and automated settlement without relying on traditional intermediaries.

Polosukhin argued that as AI systems begin interacting with each other, they effectively become “economic actors,” software programs that negotiate, pay and coordinate tasks. In that world, crypto becomes the financial layer that allows these agents to operate.

Near.com is designed to serve as that layer, acting as both a user-friendly wallet for people and an economic backend for AI-driven activity.

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A key part of the announcement is privacy. One of blockchain’s longstanding tradeoffs is transparency: transactions are typically visible to anyone. While that openness can build trust, it can also expose sensitive financial information.

“Everything you do onchain is transparent,” Polosukhin said. “That’s not realistic for usual use cases, for day-to-day usage.”

To address this, NEAR introduced a “confidential mode” within Near.com. The feature allows balances, transfers and trading activity to remain private within the network’s security framework. The company says this makes the wallet more practical not only for individuals and businesses, but also for AI agents that may need to transact without revealing strategy or sensitive data.

The launch signals a broader shift for NEAR.

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“We have the stack. We have all the components. We have the product,” Polosukhin said. “Now we’re switching … to how we actually scale adoption — how we bring this to billions of people around the world.”

Read more: Most Influential: Sam Altman

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Crypto World

South Korea Tightens Crypto Rules with 5-minute Asset Verification Mandate

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South Korea Tightens Crypto Rules with 5-minute Asset Verification Mandate

South Korea has ordered all crypto exchanges to reconcile their internal ledgers with actual asset holdings every five minutes after an inspection uncovered weaknesses in internal controls.

The directive was announced on Monday by the Financial Services Commission (FSC) after a meeting with top crypto exchanges and the Digital Asset Exchange Alliance (DAXA), during which they discussed the findings of an emergency inspection triggered by the Bithumb payout incident.

The inspection found that three of the country’s five major exchanges were reconciling balances only once every 24 hours, limiting their ability to respond quickly to discrepancies. Systems designed to halt trading during major mismatches were also found to be insufficient, raising concerns about how exchanges would handle large-scale errors.

In February, Bithumb mistakenly distributed 620,000 Bitcoin (BTC) to 249 users during a promotional event. The exchange later announced that it recovered 99.7% of the funds the same day. The remaining 0.3%, 1,788 BTC that had already been sold, was covered using company reserves.

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Related: Bithumb seeks to reappoint CEO despite recent controversies: Report

South Korea mandates five-minute asset checks

Under the new measures, exchanges must implement automated ledger-to-wallet reconciliation systems operating on a five-minute cycle. They will also be required to introduce defined criteria for triggering automatic transaction halts in the event of significant discrepancies.

Beyond reconciliation, regulators are pushing for sweeping changes to internal operations. High-risk processes like promotional payouts will require stronger oversight, including third-party cross-checks and multi-level approval systems. Exchanges will also need to separate high-risk accounts and implement automated verification tools for payments.

Top Korean crypto exchanges. Source: CoinGecko

Furthermore, external audits will shift from quarterly to monthly, while disclosures will expand to include detailed asset balances by wallet and ledger.

“The financial authorities and the DAXA plan to complete the rule changes needed to implement the improvement measures within April this year,” the FSC wrote.

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Related: South Korean brokerage Korea Investment & Securities eyes Coinone stake: Report

Bithumb delays IPO to post-2028

Last week, Bithumb announced it is now targeting an IPO after 2028, marking another delay from its earlier 2025 plans as it works through restructuring and regulatory pressure. The exchange said it will focus on strengthening accounting policies and internal controls through 2027, following an advisory agreement with Samjong KPMG.

Meanwhile, Naver Financial has also delayed its planned share swap with Dunamu by about three months, now targeting a shareholder vote on Aug. 18 and completion by Sept. 30.

Magazine: South Korea gets rich from crypto… North Korea gets weapons

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