Connect with us
DAPA Banner

Crypto World

Swiss DeFi Infrastructure Provider THORWallet Expands into Asia, Targeting South Korea’s Crypto Market

Published

on

Swiss-based DeFi infrastructure provider THORWallet is expanding into Asia, with South Korea emerging as a key focus market for its mobile-first crypto platform.

The company, known for its non-custodial wallet that integrates decentralized finance services with traditional banking features, says the move reflects growing demand in Asia for tools that connect centralized crypto markets with global DeFi liquidity.

South Korea is widely considered one of the most active retail crypto markets globally, with millions of traders and some of the highest digital asset participation rates in the world.

Swiss Banking Meets Decentralized Finance

One of THORWallet’s distinguishing features is the integration of Swiss banking functionality directly within a non-custodial crypto wallet.

Advertisement

Eligible users can access a Swiss IBAN, a multi-currency account, and a global payment card, allowing them to move between crypto assets, decentralized finance, and traditional financial infrastructure within a single interface.

The company believes this hybrid approach may appeal to users in Asia seeking more seamless ways to connect digital assets with everyday financial services.

“Many crypto users want access to both DeFi and traditional financial rails without giving up custody of their assets,” said Marcel Harmann, founder of THORWallet. “Combining a non-custodial wallet with banking functionality helps close that gap.”

Positioning as DeFi Infrastructure

THORWallet positions its platform as DeFi infrastructure rather than a traditional crypto wallet, aiming to serve as a gateway through which users and applications can access decentralized liquidity networks.

Advertisement

The mobile wallet has processed more than $1.5 billion in cross-chain swap volume, highlighting its role as an active interface connecting users to decentralized liquidity protocols.

THORWallet integrates cross-chain liquidity networks such as THORChain, Maya Protocol, and NEAR Intents, enabling users to swap native assets across different blockchains without relying on wrapped tokens or centralized bridges.

As liquidity continues to fragment across multiple chains, cross-chain swaps—such as exchanging Bitcoin for Ether across networks—are becoming an increasingly important component of the broader DeFi ecosystem.

By connecting directly to decentralized liquidity networks, THORWallet allows users to access cross-chain trading functionality via a mobile interface while retaining full custody of their assets.

Advertisement

Mobile Access to Global Liquidity

The company has focused heavily on mobile design, reflecting the view that the next wave of DeFi adoption will depend on simplifying complex blockchain interactions for everyday users.

This approach aligns with usage patterns in South Korea, where a significant share of cryptocurrency trading already takes place via mobile applications.

“Our goal is to provide a simple gateway that allows users to move from centralized exchanges into global DeFi liquidity,” Harmann added.

South Korea as a Strategic Entry Point

South Korea has long been one of the most influential cryptocurrency markets globally. Local exchanges such as Upbit and Bithumb consistently rank among the largest platforms by trading volume, and the country is home to millions of active retail traders.

Advertisement

Despite high participation, much of the activity remains concentrated on centralized exchanges, while access to decentralized finance tools is still relatively limited for many users.

THORWallet sees an opportunity to position its platform as a mobile gateway between centralized exchange liquidity and global DeFi infrastructure.

The company identifies South Korea as a strategic entry point for its broader expansion across Asia, where crypto adoption continues to grow and retail participation remains strong.

Asia is widely viewed as one of the most dynamic regions for cryptocurrency innovation, with major user bases across markets such as South Korea, Japan, Singapore, and Taiwan.

Advertisement

“We see Korea as an important starting point,” Harmann said. “From there, we plan to expand further across Asia as demand grows for mobile access to decentralized financial infrastructure.”

Growing Demand for Cross-Chain Infrastructure

As the digital asset ecosystem expands across multiple blockchains, demand for solutions enabling native cross-chain liquidity and interoperability continues to increase.

THORWallet positions itself as a mobile interface connecting users to decentralized cross-chain liquidity networks, with a long-term strategy focused on building infrastructure that allows interaction with multiple blockchains, financial services, and liquidity sources through a single platform.

The post Swiss DeFi Infrastructure Provider THORWallet Expands into Asia, Targeting South Korea’s Crypto Market appeared first on BeInCrypto.

Advertisement

Source link

Continue Reading
Click to comment

You must be logged in to post a comment Login

Leave a Reply

Crypto World

Detroit Set to Enter Michigan‘s Battle against Coinbase Prediction Markets

Published

on

Coinbase, Law, Detroit, Prediction Markets

Lawyers representing the US city of Detroit plan to file an amicus brief in Coinbase’s lawsuit against Michigan, which argues that federal regulators should have authority in overseeing prediction markets and not states. 

In a Thursday filing in the US District Court for the Eastern District of Michigan related to state officials’ motion for a preliminary injunction, District Judge Shalina Kumar approved an order which will allow Detroit to file a brief supporting state authorities in their lawsuit against Coinbase. Kumar gave Detroit’s lawyers until April 3 to make the filing as the lawsuit continues. 

Coinbase, Law, Detroit, Prediction Markets
Source: US District Court for the Eastern District of Michigan

In December, Coinbase filed its lawsuit against Michigan, as well as gaming authorities in Connecticut and Illinois, more than a month before the crypto exchange announced the launch of its prediction market services on the platform.

The company’s argument is centered on claims that prediction markets fall under the purview of the US Commodity Futures Trading Commission (CFTC) rather than state gambling regulators, challenging Michigan’s enforcement.

Companies offering event contract bets on prediction markets like Coinbase, Kalshi and Polymarket already face state-level lawsuits in multiple jurisdictions. Although the platforms have been supported by efforts from CFTC Chair Michael Selig, who proposed new rules for the commission, it was still unclear as of Friday how the legal battle between state authorities and federal regulators would unfold.

Advertisement

Related: Federal regulation looms as 11 states go after prediction markets

Where will the chips fall for platforms dealing with state and federal authorities?

“The more the CFTC can do in this space [prediction markets] to put a comprehensive regulatory regime around it, the more likely it is for courts who are looking at the issue to say ‘actually, yes, this is a CFTC jurisdiction issue — this really is not just an end run around sports gambling bans in particular states,’” Stephen Piepgrass, a partner at international law firm Troutman Pepper Locke, told Cointelegraph.

According to Piepgrass, the cases could ultimately end up going back to the US Supreme Court, given its 2018 decision in Murphy v. National Collegiate Athletic Association. That case gave US states the authority to regulate sports gambling, striking down a federal law that attempted to impose a ban on such activities.

US states have largely pushed back against lawsuits over prediction markets, but courts have sided with the platforms in some cases.

Advertisement

This month, a judge ordered Kalshi to temporarily stop operating in Nevada, and the platform faces criminal charges in Arizona over alleged illegal gambling on sports and elections. However, a Tennessee judge blocked state authorities from enforcing gambling laws against the platform in February.

The Michigan Gaming Control Board reported that casinos based in Detroit casinos generated more than $200 million in revenue for January and February, providing more than $24 million in taxes for the US state.

Magazine: XRP yet to ‘price in’ 3 bullish catalysts, Bitcoin to $80K? Trade Secrets

Advertisement