Industry News

UOB Private Bank, in collaboration with Boston Consulting Group (BCG) and NUS Business School, has unveiled a comprehensive White Paper titled “The Asia Generational Wealth Report 2025: Succession in a new era”. The report delves into the complexities of intergenerational wealth transfer in Asia, drawing insights from over 220 high-net-worth individuals and families across the region.

The White Paper addresses the challenges Asian families face in wealth succession, such as differing wealth ambitions and cultural sensitivities. It highlights that younger generations, aged 30 to 35, prefer equities and digital assets, whilst older generations favour traditional assets like investment properties. Additionally, many first-generation wealth holders wish to keep business leadership within the family, though a lack of interest from heirs is noted.

Chew Mun Yew, Head of UOB Private Bank, remarked on the rapid expansion of Asia’s private wealth market, noting that UOB’s high-net-worth client base has more than doubled since 2021. He emphasised the importance of early engagement and thoughtful planning in transforming succession processes.

Ernest Saudjana, Head of BCG in Southeast Asia, highlighted the projected growth of Asia’s private wealth to US$99t by 2029, stressing the need for proactive succession planning. He noted that Singapore and Hong Kong are key destinations for wealth inflows, with over 80% originating within Asia.

The White Paper suggests professionalisation of family businesses, structured governance, and appropriate ownership structures as key strategies for successful wealth transfer. It also underscores the importance of preserving intangible assets, such as business connections and industry knowledge, to maintain a family’s business edge.

Solo travel is gaining momentum across Asia, with a 16% increase in accommodation searches in 2025 compared to the previous year, according to digital travel platform Agoda. This trend highlights a growing preference for independent travel experiences, with major cities like Tokyo, Bangkok, Seoul, Osaka, and Kuala Lumpur emerging as the top destinations for solo travellers.

The rise in solo travel is particularly notable among travellers from Japan, South Korea, Thailand, Indonesia, and Taiwan. Japanese travellers lead in numbers, but Indonesians have shown the most significant growth in interest, with a 72% increase in searches. Thai travellers also exhibit a strong interest, with a 37% rise. This shift reflects a broader trend of individuals seeking personal discovery and cultural immersion.

Jay Lee, Regional Director North Asia at Agoda, noted, “The rise in solo travel across Asia has become a defining trend in 2025 that reflects a growing desire for personal discovery and meaningful cultural immersion.” Agoda supports these journeys by offering a wide array of options tailored to solo travellers, ensuring memorable experiences.

Agoda provides access to over 6 million holiday properties, more than 130,000 flight routes, and over 300,000 activities, all available for booking through its mobile app and website. As solo travel continues to rise, Agoda remains committed to facilitating these adventures with its extensive offerings.

Colliers has released its 2026 Asia Pacific Workplace Insights report, revealing significant shifts in workplace strategies across the region. The report, based on a survey of over 800 corporate occupiers, highlights a strong focus on enhancing workplace quality, with 48% of organisations investing in employee experiences. Hybrid work models are prevalent, with 47% of companies adopting them, although many still maintain traditional attendance mandates and assigned seating.

The report underscores the importance of aligning strategy, design, and technology to create empowering workplaces. Mike Davis, Managing Director of Occupier Services at Colliers Asia Pacific, emphasised that “the workplaces of today, and tomorrow, are not just about where people sit; they’re about how space drives performance and experience.”

Key findings include a growing emphasis on inclusivity, with 15% of organisations already considering the needs of five generations in the workplace by 2030. Sustainability also features prominently, with 52% of businesses collaborating with landlords to achieve sustainability goals, particularly in Australia, India, and Singapore.

Karen Primmer, Head of Workplace Innovation & Transformation at Colliers Australia, noted a shift in perception, stating, “There’s a clear shift from viewing offices as cost centres to recognising them as strategic assets.”

The report also highlights the role of technology, with 20% of organisations using AI tools to enhance employee experience. As companies navigate these changes, the report suggests that those who effectively bridge gaps in flexibility, sustainability, and inclusivity will lead the way in workplace innovation.

HitPay and Yuno have announced a strategic partnership aimed at simplifying payment processes for global merchants entering the Asia Pacific market. The collaboration introduces a unified API, enabling businesses to seamlessly integrate local payment methods across the region.

The integration grants instant access to major e-wallets and national QR schemes, empowering businesses to accept payments from local consumers. This development is particularly significant for the burgeoning subscription economy, which relies heavily on efficient and diverse payment options.

Aditya Haripurkar, CEO of HitPay, highlighted the importance of this partnership, stating that it addresses the complexities faced by businesses expanding into Asia Pacific. “This collaboration simplifies payment complexity for global merchants,” he said, emphasising the ease of access to local payment solutions.

The partnership is expected to enhance the payment landscape in Asia Pacific by offering businesses a streamlined approach to managing transactions. This is crucial as the region continues to see rapid growth in e-commerce and digital transactions.

Looking ahead, the HitPay and Yuno partnership is poised to support the evolving needs of businesses in the region, potentially setting a new standard for payment integration in the Asia Pacific market.

Visa has announced the expansion of its Visa Intelligent Commerce across the Asia Pacific region, marking a significant step towards agentic commerce, where AI-powered agents shop and pay on behalf of consumers. This initiative, revealed at the Singapore Fintech Festival from 12 to 14 November 2025, introduces new security protocols and pilot programmes to enhance digital transactions.

Visa Intelligent Commerce is a comprehensive suite of integrated APIs and a partner programme that leverages Visa’s secure infrastructure. It enables AI agents to conduct safe, transparent, and consent-driven payments on behalf of consumers. The system incorporates features like tokenisation, authentication, and transaction signals, allowing AI agents to operate securely. Over the past year, AI-driven traffic to retail websites has surged by over 4,700%, with 85% of shoppers reporting improved experiences through AI.

A key component of this initiative is the Trusted Agent Protocol, which provides merchants with the assurance needed in an AI-driven world. This protocol uses agent-specific cryptographic signatures to ensure secure transactions, distinguishing legitimate agents from malicious bots. It is designed as an open, low-code solution for merchants, ensuring seamless integration without infrastructure overhauls.

TR Ramachandran, Visa’s Head of Products and Solutions for Asia Pacific, stated, “Agentic commerce is transforming the very fabric of online payment transactions, requiring a unified ecosystem to unlock its full potential.”

Visa is collaborating with major players like Ant International, Microsoft, and Tencent to enable agentic commerce transactions. The company plans to launch Visa Intelligent Commerce pilots across Asia Pacific by early 2026, demonstrating its commitment to advancing AI-powered payments and delivering transformative commerce experiences.

Visa has launched its ‘Scan to Pay’ solution, enabling millions of merchants across Asia Pacific to accept QR payments through popular digital wallets and payment apps. This initiative, announced at the Singapore Fintech Festival, aims to enhance consumer choice and flexibility in both local and international transactions.

The ‘Scan to Pay’ solution is part of Visa’s broader ‘Visa Pay’ service, which connects digital wallets to Visa-accepting merchants globally. This service allows consumers to tap, scan, or pay online using their preferred payment methods. Key partnerships include Samsung Wallet, LINE Pay, and VNPT Money, among others. TR Ramachandran, Head of Products and Solutions for Asia Pacific at Visa, stated, “As commerce across Asia Pacific becomes increasingly mobile-first, Visa is leading the way with innovations like Scan to Pay that accelerate QR payment adoption.”

For consumers, the solution offers a seamless payment experience, security, and flexibility. Merchants benefit from expanded acceptance, reduced processing costs, and the potential for business growth by leveraging existing QR infrastructure. Visa’s global network ensures secure and reliable transactions, providing confidence to consumers wherever they shop.

The rollout of ‘Scan to Pay’ underscores Visa’s commitment to digital payment leadership and its tailored approach to market needs. This initiative empowers partners to expand merchant reach and enhance consumer engagement, aligning with Visa’s mission to connect the world through innovative and secure payment networks. The Visa Pay experience will be showcased at the Singapore Fintech Festival from 12–14 November 2025.

Huma Finance has announced the appointment of Jessica Cao as its new Asia-Pacific (APAC) CEO, aiming to drive regional expansion and integration of real-world assets into the crypto ecosystem. With over 17 years of experience in traditional finance, Cao has held senior leadership roles at Ant International, BNP Paribas, Citi, and Standard Chartered. Her appointment comes ahead of the Singapore Fintech Festival 2025, highlighting Huma’s strategic focus on the rapidly growing stablecoin market in the region.

The Asia-Pacific region is currently the fastest-growing stablecoin market globally, with $2.4t in on-chain stablecoin activity and a 69% year-over-year growth. Huma Finance, a pioneering payment finance (PayFi) network, seeks to capitalise on this momentum by bridging traditional finance with blockchain payments. “We are seeing the strongest growth opportunity for Huma and the broader PayFi ecosystem in the APAC region,” said Erbil Karaman, Co-Founder of Huma Finance.

Cao’s expertise in both traditional finance and digital assets positions her to lead Huma’s efforts in partnership development, liquidity expansion, and product evolution tailored to APAC market demands. Her role will support Huma’s strategy to tokenise receivables and address challenges in global payment finance, such as cross-border payment delays and costs.

Huma Finance has already processed over $7b in transactions, demonstrating the market’s appetite for blockchain-based payment infrastructure. The appointment is expected to foster deeper partnerships with financial institutions, fintechs, and enterprises, paving the way for increased stablecoin adoption in commerce and payments across the region.

Southeast Asia’s digital economy is set to surpass $300b in Gross Merchandise Value (GMV) by 2025, according to the latest e-Conomy SEA report by Google, Temasek, and Bain & Company. The report, released today, highlights a decade of remarkable growth, with GMV increasing 7.4 times and revenues projected to reach $135b as profitability accelerates across the region.

The report underscores the resilience of Southeast Asia’s digital economy, which has thrived despite global challenges such as COVID-19 and inflation. Key sectors like e-commerce, food delivery, transport, online travel, and digital financial services (DFS) have driven this growth. Notably, video commerce has expanded fivefold in three years, now comprising 25% of e-commerce GMV.

Private funding in the region has seen a cautious uptick, with a 15% year-on-year increase to $8b, focusing on late-stage deals and DFS. This growth is supported by realistic valuations, proven monetisation models, and a healthy IPO pipeline.

Southeast Asia is also positioning itself as a leader in the global AI transformation. The region’s workforce is embracing AI, with 79% of workers learning to use it. Over $2.3 billion has been invested in AI start-ups, accounting for 30% of private funding in the first half of 2025.

Sapna Chadha, Vice President, commented, “Surpassing the $300b GMV milestone by 2025—1.5x our ambitious forecast from a decade ago—firmly validates that Southeast Asia’s potential is even greater than we imagined.” The report suggests that the region’s future will be defined by rapid adaptation and innovation, with AI playing a central role in its continued economic transformation.

Condition Monitoring Technologies (CMT) has significantly expanded its market presence across Asia’s major shipping hubs through an enhanced partnership with Singapore’s Junma Services. This collaboration has already sparked increased customer interest in Hong Kong, Shanghai, and Guangzhou. The partnership marks a strategic shift for CMT from a passive presence to an active, growth-oriented approach in the Asia-Pacific region.

Since appointing Junma Services in July last year to cater to Singapore’s demand, CMT has increased its market share in the Chinese and Hong Kong maritime sectors. “Junma’s ability to navigate the cultural and regulatory landscape has been invaluable,” said CMT Managing Director David Fuhlbrügge. The partnership has led to increased enquiries and established strong networks with shipowners, managers, and service providers.

Junma is now actively introducing CMT’s full product range to technical managers and ship operators in Hong Kong, Shanghai, and Guangzhou. This hands-on approach has already yielded results, building on a successful campaign in Singapore last year that secured an order for over 40 PREMET X units. “The collaboration with Junma has opened doors to new customer contacts in Hong Kong and Mainland China,” Fuhlbrügge added.

The demand for condition monitoring and fuel-oil analysis solutions is high as operators seek efficiency and compliance in competitive markets. CMT’s cooperation with Junma contrasts with its previous approach, which involved a less active distributor. The new partnership represents a decisive shift to a more engaged strategy.

Asia Pacific (APAC) is at the forefront of global enterprise AI adoption, with a significant portion of firms investing heavily in generative AI (genAI) and aligning leadership to accelerate transformation. According to Forrester’s latest report, “AI Adoption Across Regions, 2025,” 26% of APAC companies have invested between $400,001 and $500,000 in genAI, surpassing North America and Europe. Furthermore, 33% of APAC CEOs are the primary owners of AI strategy, compared to 18% in North America and 8% in Europe.

The report, based on Forrester’s State Of AI Survey, 2025, highlights APAC’s aggressive deployment of AI across IT operations and data engineering. APAC firms report 63% genAI adoption in IT operations and 46% in data management, reflecting the region’s readiness to integrate AI into core business functions. This strategic leadership is driven by the fast-growing markets in APAC, where speed offers a competitive edge.

Workforce transformation is also underway, with 76% of APAC respondents acknowledging the need for employees to find new roles due to AI. Additionally, 47% have reduced headcount or replaced employees with AI, and 66% are slowing hiring to assess AI’s impact. APAC employees are notably prepared for this shift, with 91% feeling motivated to learn and having received formal training.

Frederic Giron, VP and Senior Research Director at Forrester, stated, “Asia Pacific’s leadership in AI adoption reflects bold investment, decisive leadership, and a clear understanding of regional dynamics.” As APAC continues to scale AI, the focus will shift towards governance, literacy, and measurable ROI, with regional leaders prioritising sovereignty and responsible deployment by 2026.