Asia Morning Briefing: Wingbits Partners with Korean Air for Decentralized Flight Tracking
Market Highlights
Korean Air has partnered with Wingbits, a Stockholm-based company, to integrate real-time ADS-B data into its ACROSS air traffic coordination system. This will enhance coordination for drones, cargo aircraft, and future eVTOL taxis across Korea's Incheon FIR, North America, and Europe.
- Wingbits operates a decentralized network of cryptographically secured ADS-B receivers, incentivizing contributors with tokens.
- The DePIN startup raised $5.6 million in January, led by Bullish Capital.
- Korean Air's collaboration aims to improve future air mobility infrastructure.
- This partnership is Wingbits’ first airline collaboration, marking interest from legacy carriers in decentralized infrastructure.
Market Movements
- Bitcoin: Trading at $112,730, struggling to gain momentum despite ETF inflows over $385M on September 18–19.
- Ethereum: Trading near $4,200, experiencing a sharper decline than Bitcoin, with spot ETH ETFs seeing over $260M net inflows in the same period.
- Gold: Trading at record highs due to expectations of U.S. Federal Reserve rate cuts, central bank demand, inflation concerns, and geopolitical risk.
- S&P 500: U.S. stock futures slipped 0.04%, reflecting cautious investor sentiment.
Elsewhere in Crypto
- CleanSpark shares surged after securing $100M Bitcoin-backed credit from Coinbase Prime.
- MetaMask’s mUSD stablecoin reached a $65 million supply within a week of launch.
- Ethereum Wallet Rainbow announced an upcoming RNBW token airdrop.