South Korean Bank Pilots Avalanche for Tax Refunds

NH NongHyup Bank, a major financial institution in South Korea, is initiating a Proof of Concept (PoC) to test an innovative system for streamlining VAT refunds for inbound tourists. This system leverages stablecoins built on the Avalanche blockchain, aiming to create a more efficient and seamless refund process. This move signifies a growing trend among traditional banks to explore and integrate blockchain technology for practical applications, particularly in cross-border payments and financial services.

Canary Capital Files for Memecoin ETF Tracking MOG

In a notable development for the digital asset market, Canary Capital is seeking regulatory approval from the SEC for an Exchange Traded Fund (ETF) that would track the price of MOG Coin. While MOG is described as a lesser-known memecoin, the filing for an ETF suggests a broadening scope of institutional interest beyond major cryptocurrencies. This potential approval could pave the way for increased mainstream exposure and liquidity for a wider array of digital assets.

Aerodrome DEX Expands to Ethereum, Enhancing Liquidity

Aerodrome, a prominent Decentralized Exchange (DEX) initially on Base, has unveiled a comprehensive upgrade suite and significantly expanded its operations. Dromos Labs, the team behind Aerodrome, introduced 'Aero' as a central liquidity hub. This expansion now includes direct integration with Ethereum and Circle’s Arc, designed to serve as a home base for additional EVM extensions beyond its existing presence on Base and Optimism. This strategic move aims to enhance interoperability and aggregate liquidity across various leading blockchain networks, strengthening the overall DeFi landscape and benefiting the Ethereum ecosystem.