Accelerating the construction of an open innovation ecosystem, focusing on compliance infrastructure, the integration of AI and blockchain, and RWA applications.
On September 22, the "Global Blockchain Forum," co-hosted by LBank Labs, South Korean Congressman Min Byung-duk, and the Korea Blockchain Industry Promotion Association (KBIPA), was successfully held at the National Assembly Library in Seoul, South Korea. The forum focused on cutting-edge topics such as building an open Web3 ecosystem in South Korea, the integration of AI and blockchain, the philosophy of stablecoin development, and the construction of metaverse infrastructure. Prominent guests, including South Korean Congressman Min Byung-duk, CodeVASP CEO Lee Sung-Mi, and Seoul National University Professor Han Jung-Suk, engaged in in-depth discussions on blockchain policy, technological innovation, and the synergy of the Web3 ecosystem, injecting strong momentum into the sustainable development of the global blockchain industry.
The forum brought together policymakers, corporate executives, Web3 innovation pioneers, and academic experts from the global crypto industry. Representatives from top institutions such as KBIPA, LBank Labs, Animoca Brands, CodeVASP, Ethereum Foundation, Kaia DLT Foundation, and Solana Foundation gathered together. Additionally, key figures from well-known Web3 projects like Kaia, Berachain, Abstract, Manta Network, Aethir, and LayerZero also attended the forum to discuss industry trends and collaborative paths.
As a global Web3 venture capital institution, LBank Labs is accelerating the construction of an open innovation ecosystem, focusing on compliance infrastructure, the integration of AI and blockchain, and RWA applications, providing funding, technology, and market support for global developers and projects. This forum not only serves as a platform for the intersection of policy, technology, and industry but also highlights LBank Labs' vision of promoting the globalization of Web3.
Forum Opening: Policy Empowering South Korea's Open Web3 Ecosystem
The forum was opened by Congressman Min Byung-duk of the Democratic Party of Korea. As a core promoter of digital finance legislation in South Korea, Congressman Min led the "Digital Asset Basic Law," which laid the institutional foundation for South Korea's digital asset market. In his speech, he emphasized: "Compliance innovation is fundamental to the sustainable development of the blockchain industry. South Korea is committed to building a safe and vibrant Web3 ecosystem." He proposed that artificial intelligence changes our understanding of "intelligence," while blockchain is "rewriting the way we trust," defining the future financial landscape with the formula "RWA (Real World Assets) + STO (Security Token) × Stablecoin."
Congressman Min further introduced the "Three Digital Asset Laws" — the "Digital Asset Basic Law," the "Spot ETF Law," and the "Token Securities STO Law," aimed at balancing investor protection and industry innovation. He specifically pointed out that the Korean won stablecoin is not only a trading tool but also a key to protecting South Korea's financial sovereignty and reducing payment costs for small and medium-sized enterprises. In the future, it will combine with K-content and K-apparel to create global economic opportunities. Currently, there are 6 million digital asset investors in South Korea, with an average daily trading volume of 11 trillion won, but policies still need to accelerate to keep pace with the market.
KBIPA President Kim Hyung-kyu stated: "Blockchain is a borderless global business field, and South Korea needs to accelerate application implementation through international cooperation and technological innovation." He emphasized that the forum will narrow the gap between South Korea and global experts, providing strategic guidance for South Korea to become a digital finance center. National Power Party Congressman Kim Hee-jung and independent Congressman Kim Jong-min also attended the event. Kim Hee-jung called for strengthening lawmakers' understanding of blockchain to promote legislation, while Kim Jong-min pointed out: "AI and Web3 are the two pillars of future society. Web3 connects and solves the fragmentation of the digital society through decentralization, leading the era of cross-industry interconnection."
In the global cryptocurrency landscape, South Korea is rising at an astonishing speed. By 2025, the total trading volume of cryptocurrencies denominated in won has reached $663 billion, making it the second-largest cryptocurrency market in the world after the US dollar. South Korea has long maintained a global leading position in the trading of non-mainstream coins, with the highest trading volume of non-mainstream coins in the world, and 25.4% of the population actively participating in cryptocurrency trading, a level of engagement that is extremely rare globally. This enthusiasm has also given rise to the unique "kimchi premium" phenomenon. Meanwhile, the South Korean government is actively reshaping the cryptocurrency regulatory framework, moving from restrictive policies to a new phase that encourages innovation and market development. The recently launched cryptocurrency ETF roadmap and stablecoin development plan not only inject new institutional benefits into the market but also further solidify South Korea's strategic position as an important cryptocurrency market in Asia and globally.
Industry Dialogue: Deep Reflections from Tokenization to Regulatory Framework
The first half of the forum focused on in-depth discussions on policy formulation and industry development strategies, with several topics centering on the key paths for building the South Korean Web3 market environment.
Tokenization Wave and Digital Property: Animoca Brands co-founder Yat Siu elaborated on the potential of tokenization, pointing out that it is not limited to putting real assets on the chain but also transforming data and attention into "digital original production rights," breaking the monopoly of Web2 giants. Stablecoins bring financial inclusion to 150 to 200 million unbanked users, while NFTs reshape game assets and cultural capital. Yat Siu emphasized that tokenization can revolutionize educational finance, and South Korea, with its intellectual property advantages, will lead the prosperity of the digital economy.
Collision of Academic and Legal Perspectives: Seoul National University Professor Han Jung-Suk analyzed "An Overview of Blockchain and the Future of Digital Asset Exchanges." He pointed out that the digital asset market is fragmented due to diversified trading venues such as centralized exchanges (CEX), decentralized exchanges (DEX), cross-chain bridges, and Layer-2, leading to dispersed liquidity and fragmented price discovery. The existing market faces friction such as rising slippage, fees, delays, and MEV (Miner Extractable Value), but aggregators and cross-chain bridges are gradually unifying liquidity, and ETFs and tokenized assets will deeply integrate on-chain and off-chain markets. He predicted: "The transparency and programmability of blockchain will accelerate market evolution, and liquidity integration and price discovery efficiency improvement will become future directions."
BECOME Law Firm's Cha Sang-Jin interpreted "The Regulatory Framework for Stablecoins, Security Tokens, and Spot ETFs," discussing the balance between innovation and risk. Chung-Ang University Professor Yoon Min-Seop systematically analyzed "Formulating Digital Asset Legislation: Shaping the Future of the Korean Industry Ecosystem," focusing on legislative timing, regulatory boundaries, and innovation protection. During the discussion, guests engaged in intense debates around core issues, ultimately forming a threefold strategic framework of "policy first, industry follow, international cooperation."
The subsequent roundtable discussion on "Policies and Industry Strategies for South Korea to Become a Global Digital Asset Center": Policymakers and industry experts engaged in a "brainstorming" session, starting from global positioning, resulting in a pragmatic action roadmap. This was akin to a feast of reflection, revealing how South Korea can seize international heights through Web3.
Technological Innovation Drives: Four Special Sessions Decoding the Future of Web3
The second half shifted to technical practice, showcasing the evolution path of Web3 through four special sessions, progressing from compliance to infrastructure, and then to AI integration and the metaverse.
Compliance and Market Entry Strategies: CodeVASP CEO Lee Sung-Mi, in her keynote speech "Entering the Korean Market: Understanding and Complying with the Travel Rule," detailed South Korea's strict compliance requirements, focusing on the implementation of the "Travel Rule" to provide practical guidance for Web3 companies entering the Korean market. She emphasized that compliance is not only a legal requirement but also the cornerstone of building market trust, sharing how CodeVASP helps companies achieve cross-jurisdictional compliance through technological solutions, providing feasible paths for global projects to land in Korea.
LBank Labs head Czhang Lin, in his speech "Bridging the Gap: Opportunities in the Integration of Web3 and Traditional Finance," pointed out that the integration of Web3 and traditional finance focuses on three major opportunities: first, institutional funds are accelerating inflow, with crypto ETFs becoming core financial tools connecting traditional markets; second, the rise of Digital Asset Treasury (DATs) models, where companies optimize their capital structure by allocating crypto assets, significantly enhancing the stock performance of traditional markets; finally, SPACs have become an ideal listing path for growth-oriented Web3 projects due to their low cost and transparent processes. Czhang Lin emphasized that the combination of ETFs, DATs, and SPACs builds a bridge for Web3 projects to access traditional financial markets, and outstanding projects in the future need to leverage the dual liquidity of exchanges and capital markets to establish global competitive advantages. This insight provides a clear direction for the capitalization strategy of Web3 projects.
Infrastructure Discussion: In the roundtable "Building the Next Wave: Creating Next-Generation Primitives for Layer 1 and Layer 2," Solana DeFi Growth Lead Ramzy, ZetaChain CMO Jonathan Covey, Manta Network co-founder Kenny Li, and Abstract co-founder Jason deeply explored the evolutionary logic of public chain ecosystems. The discussion pointed out that the success or failure of crypto applications does not depend on single-chain or multi-chain but on abstracting the underlying complexity through chain abstraction or infrastructure abstraction, providing users with a frictionless and smooth experience. Multi-chain coexistence is a trend, but the market may concentrate on a few core chains, and developers need to seek breakthroughs in vertical fields or specific user groups, while users always care about the usability and experience of applications.
Stablecoin Philosophy Dialogue: The topic "Stablecoins are Inevitable: Reconstructing the Future of Digital Currency" gathered industry experts Alex Lim, Head of Asia-Pacific at LayerZero, SangMin (Sam) Seo, Chair of Kaia DLT Foundation, and Ash Morgan, Head of Stablecoins and RWA at the Ethereum Foundation, to analyze the strategic role of stablecoins. Alex Lim emphasized that LayerZero's cross-chain interoperability protocol significantly enhances the liquidity and usability of stablecoins in DeFi and RWA scenarios by efficiently bridging multi-chain ecosystems. SangMin (Sam) Seo pointed out from an economic perspective that stablecoins provide financial services to unbanked populations by reducing cross-border payment costs, and it is expected to drive a 30% increase in trading volume in emerging markets after 2025. Ash Morgan focused on the decentralized characteristics, believing that the anti-censorship mechanism of stablecoins lays the foundation for global financial autonomy. Regarding the topic of whether Central Bank Digital Currencies (CBDCs) will replace stablecoins, the guests believed that the two will form a complementary pattern in payment, investment, and reserve functions, with stablecoins occupying a core position in the automated markets of DeFi and RWA tokenization, driving the reshaping of digital finance.
Pragmatic Construction of the Metaverse Full Stack: When discussing the full-stack approach to driving the metaverse—an extensible, secure, and sovereign digital world—Caldera CEO Matthew Katz, Alibaba Cloud Chief Architect Zhao Qingyuan, Berachain APAC Head Ella Qiang, and SlowMist CTO Blue explored the engineering pathways for metaverse infrastructure. Matthew Katz introduced how Caldera's Rollup technology achieves a virtual economic system capable of processing thousands of transactions per second through modular design, reducing transaction costs by 99%. Zhao Qingyuan shared Alibaba Cloud's decentralized storage solution, which optimizes asset management efficiency in the metaverse by combining on-chain data indexing. Ella Qiang emphasized how Berachain's Decentralized Identity (DID) protocol enables cross-platform user sovereignty and asset interoperability. Blue focused on SlowMist's security framework, which protects metaverse platforms from attacks through real-time threat detection and a zero-trust architecture. The experts unanimously agreed that unified technical standards and ecological synergy are foundational for implementation, addressing challenges such as inflation spirals through engineering solutions.
AI Session, Igniting the Web3 Innovation Engine: In the session "Smart Links: The Integration of AI and On-Chain Reality," IoTeX CEO Raullen Chai, Theoriq Foundation President Jeremy Millar, Aethir Co-founder and CEO Daniel Wang, and BluWhale Co-founder Han Jin discussed the potential for the integration of AI and blockchain. Raullen Chai emphasized AI's driving role in data privacy and smart contract optimization, predicting it will become the core engine for the realization of Web3. Jeremy Millar pointed out that AI-driven smart contracts will reshape efficiency boundaries. Daniel Wang shared how Aethir's decentralized GPU network empowers AI model training. Han Jin focused on BluWhale's on-chain data applications, outlining the prospects for decentralized AI agents. The discussion indicated that the integration of AI and Web3 will drive a paradigm shift in the data economy and smart contracts within the next 3-5 years, becoming the core engine for the large-scale realization of Web3.
LBank Labs: A Bridge and Promoter of the Global Web3 Ecosystem
As a Web3 venture capital institution managing over $100 million in assets, LBank Labs has long focused on compliance infrastructure, regulatory-friendly DeFi, AI integration, and institutional-level solutions, investing in several forward-looking projects globally to continuously support the development of the digital economy. The successful hosting of this forum not only highlights LBank Labs' advantages in industrial organization and ecological appeal but also further emphasizes its key position in global blockchain issues.
Looking ahead, LBank Labs will continue to leverage its unique ecological connectivity advantages, working with global partners to delve deeper at the intersection of technological innovation, regulatory compliance, and commercial applications, injecting continuous development momentum into the blockchain industry, and accelerating the globalization and large-scale application of Web3 innovation outcomes.
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