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first_img SMBC Nikko Securities jointly developed a compliant DeFi gateway with Uniswap and others

According to The Defiant, SMBC Nikko Securities announced on October 2 that it has signed a memorandum of cooperation to develop a decentralized finance (DeFi) platform called "DeFi Gateway" aimed at Japanese investors.Participants include blockchain development company Nethermind, Uniswap Labs, the general incorporated association Nyx Foundation, and Coinbase Technologies, which operates the Ethereum Layer 2 network Base. The project will develop a liquidity provision protocol and proprietary liquidity pool, complying with Japanese laws and regulations, with plans to complete development by mid-2027.The cooperation mainly focuses on three areas of development: first, creating a "proxy vault" with verifiable and reproducible AI and an intuitive user interface; second, utilizing Uniswap v4's Hooks feature to build a compliant liquidity pool public framework that incorporates anti-money laundering and counter-terrorism financing (AML/CFT) and investor protection mechanisms; third, developing asset management strategies covering digital assets such as stablecoins and real-world assets (RWA).The project is jointly led by SMBC Nikko Securities and Nethermind. SMBC Nikko Securities leads communication with regulatory agencies and provides compliance, risk modeling, and portfolio management expertise; Nethermind is responsible for technical design and development, including AI strategy and integration, smart contract security, as well as automated market making and Uniswap v4 Hooks strategies.

HSBC requires some existing investment clients in the mainland to submit a source of funds declaration; failure to submit in a timely manner may result in service termination

According to the Daily Economic News, following the requirement to confirm that the source of funds for new account openings comes from legal overseas channels, some banks in Hong Kong have begun to initiate a source of funds declaration process for certain existing mainland investment clients. HSBC Hong Kong has recently started notifying some existing mainland investment clients, requiring them to submit the "Declaration for Opening/Maintaining Accounts" through the HSBC Hong Kong App by September 12 and to update their contact information.The declaration includes confirming that the funds for investment activities come from legal sources outside mainland China, and that the bank may disclose personal information at the request of law enforcement or regulatory agencies. The notice also mentioned that if the declaration is not submitted by August 20, investment-related services may be suspended; if it is still not submitted by September 12, investment-related services may be terminated.An HSBC spokesperson responded that they will follow relevant regulatory requirements when managing investment client relationships, thus inviting relevant mainland Chinese investors to provide self-declarations and confirm that the information provided in their "Know Your Customer" and "Customer Due Diligence" processes is current and valid, which helps to continuously provide uninterrupted services to clients. HSBC emphasized that this latest declaration requirement applies only to investment service clients.

The Ethereum Foundation provides security funding to WEBCAT to assist in wallet verification front-end code to prevent phishing attacks

According to official news, the Ethereum Foundation's "Trillion Dollar Security" (1TS) has announced a special grant to the Freedom of the Press Foundation (FPF) to support the ongoing development of the open-source tool WEBCAT, aimed at addressing the long-standing front-end code verification security gap in Ethereum wallets and decentralized applications (DApps).WEBCAT (Web-based Code Assurance and Transparency) is an open-source tool designed to help browsers verify whether the code loaded by a website matches the version publicly released by the developer.This funding will promote the expansion of WEBCAT to Ethereum wallets and application scenarios, enabling users to verify whether the front-end pages they access have been tampered with.The Ethereum Foundation stated that while HTTPS can verify the website a user is connected to and encrypt communication, it cannot prove that the front-end code actually running on the website is the same version released by the developer. If an attacker controls the website's front-end code, they may modify the transaction receiving address without the user's knowledge or induce the user to sign transactions that do not match the content displayed on the page.The Ethereum Foundation noted that front-end attacks have become a significant security risk for blockchain infrastructure, with malicious modifications to web interfaces potentially leading to supply chain attacks, DNS hijacking subsequent attacks, and user interface deception.WEBCAT was initially developed by the Freedom of the Press Foundation to enhance the code credibility of secure communication systems like SecureDrop.With this expansion into the Ethereum ecosystem, it will complement security measures such as "Clear Signing" in the 1TS program: the former helps wallets confirm that the application front-end has not been tampered with, while the latter helps users understand the transaction content they are approving.
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