Asia Crypto Roundup: BitMart Feud, Binance bStocks Overtake Rivals, Israeli Bank Adds Crypto Trading

BitMart’s official Chinese language account publicly pressed founder Sheldon Xia to explain what happened to user funds and to release a repayment plan, claiming some customers couldn’t withdraw money and certain employees hadn’t received their final paychecks.

The account warned that without a verifiable asset disclosure by a set deadline, it would forward evidence to regulators, law enforcement, and media outlets. Xia dismissed the claims as fabricated and said he would pursue legal action, including a police report and a formal notice to the social media platform demanding forensic review.

Binance’s Tokenized Stock Product Climbs to Second Place

Binance’s bStocks platform has overtaken a rival tokenized stock issuer to become the second-largest in the sector by value, achieving the milestone less than two months after its launch. The product reached roughly $624 million in value earlier this month, surpassing its closest competitor near $579 million, though it still trails the market leader at about $927 million. The broader tokenized stock market has expanded dramatically over the past year, growing from around $80 million in tracked value to nearly $2.7 billion.

Fake Startup Exposes North Korean IT Worker Tactics

A investigative operation set up a fictitious crypto startup that attracted job applications from suspected North Korean IT workers, allowing researchers to quietly gather intelligence on how these operatives seek employment and funding within the crypto industry without their knowledge.

Israeli Bank Partners for Crypto Trading Access

Israel’s largest bank will become the first local banking institution to offer cryptocurrency trading, following a partnership with a digital asset firm that will let customers buy, hold, and sell Bitcoin, Ether, and Solana through the bank’s investment platform starting in early 2027. The service will extend to users of the bank’s mobile banking arm as well.

Metaplanet Denies Bitcoin Selloff Rumors

Metaplanet’s chief executive pushed back against speculation that the Japanese bitcoin treasury firm was liquidating holdings after a transfer worth roughly $322 million was detected. The executive clarified the move was a routine custody operation and that total holdings remain unchanged at 43,000 BTC. The company remains the largest bitcoin treasury holder in Asia despite sitting on a substantial unrealized loss.

MUFG Moves Bond Settlement Onchain

Several MUFG-affiliated companies are testing a system to bring Japanese government bond repo transactions onto a blockchain network, aiming to improve settlement speed and automate parts of the transaction process.

Singapore Finalizes Crypto Tax Reporting Rules

Singapore has completed regulations requiring crypto firms to report user transaction data to tax authorities, aligning domestic law with an international tax transparency framework. The rules take effect for new users starting January 2027, with existing users given until the end of that year to comply.

Binance and RedotPay Dispute Continues

Binance and a stablecoin card issuer remain at odds over whether a related legal proceeding is winding down, part of a larger ongoing dispute involving hundreds of millions of dollars tied to how card top-up funds were used outside agreed commercial terms.

Korean Asset Manager Explores Tokenized Funds

A major South Korean asset management firm has signed an agreement with a tokenization-focused blockchain network to explore developing tokenized investment fund products.