Regional News

Anchorage Digital, SAP, and the Bank for International Settlements (BIS) are set to present at the Stablecoin Summit Singapore 2025, taking place on 2 October during TOKEN2049 at Andaz Singapore. The summit will explore the transformative role of stablecoins in cross-border payments and enterprise finance, particularly in Asia and emerging markets. Hosted by XREX Group and the Unitas Foundation, the event aims to address compliance challenges, scalable practices, and regulatory frameworks.

The summit comes at a pivotal time as stablecoins, digital assets pegged to the US dollar, are gaining traction with an annual transaction volume exceeding 27 trillion. The event will feature keynotes and panels with notable speakers such as Friedrich K from BIS, Wayne Huang from XREX Group, and Paul Brody from EY. Discussions will focus on the integration of stablecoins into existing financial systems, with SAP’s Tushar Gulhane highlighting the potential for stablecoins to streamline B2B payments.

Recent regulatory developments, including the US GENIUS Act and the EU’s MiCA, underscore the growing institutional recognition of stablecoins. As stablecoins become more mainstream, their adoption is expected to reach a circulating supply of 2 trillion by 2028. The summit will provide a platform for stakeholders to align on infrastructure, policy, and product design, with support from global players like Curve, Polygon, and Scroll.

Wayne Huang, CEO of XREX Group, emphasised the importance of the summit in setting standards for responsible adoption, stating, “We are convening global leaders to accelerate responsible adoption.” The event marks a significant step in the evolution of stablecoins as a key component of the global financial infrastructure.

Singapore’s co-living sector has transitioned from a niche accommodation option to a mainstream asset class, according to a new report by Jones Lang LaSalle (JLL). The report, a follow-up to JLL’s 2023 white paper, reveals significant shifts in demographics, operator strategies, and investor perspectives over the past two years.

The co-living landscape in Singapore has matured, with established operators refining their service offerings and investors gaining a deeper understanding of the sector’s unique value proposition. This evolution is marked by strategic business model shifts, including a move towards asset-light management contracts and master leases for entire buildings. Larger operators are also adopting unbundled pricing models to enhance flexibility.

The introduction of Long-stay Serviced Apartments (SA2) by Singapore’s Urban Redevelopment Authority in November 2023 has further diversified the market. This new housing typology, designed for stays of at least three months, aims to bridge the gap between short-term serviced apartments and traditional private leases, offering more rental options amid rising housing costs.

Eugenio Ferrante, CEO and Co-founder of Casa Mia Coliving, noted, “When we first launched Casa Mia in 2019, co-living was niche and often misunderstood. Today, it’s a mainstream category shaped by lifestyle shifts, rising rents, and hybrid work.”

The report also highlights the growing demand from foreign students, who now represent a significant portion of co-living residents. This demographic shift is supported by Singapore’s expanding international student population.

As the sector continues to evolve, JLL’s report underscores the importance of sustainable growth, regulatory frameworks, and market resilience in shaping the future of co-living in Singapore.

Amogy, a leader in ammonia-to-power solutions, has partnered with Singapore’s Agency for Science, Technology and Research (A*STAR) to develop and deploy ammonia-based technologies. This collaboration, formalised through a Memorandum of Understanding (MOU), aims to support Singapore’s Green Plan 2030 and the National Hydrogen Strategy by piloting ammonia-to-power systems on Jurong Island.

The partnership will see A*STAR providing expertise in safety, standards, and sustainability, whilst Amogy will leverage its proprietary technology to convert ammonia into hydrogen for electricity generation. This initiative is expected to offer a low to zero-carbon alternative to fossil fuels, particularly benefiting energy-intensive sectors.

Key aspects of the collaboration include the demonstration of ammonia-to-power systems, joint research and development on advanced ammonia-cracking catalyst technologies, and the development of digital tools and workforce training for system integration. A significant focus will be on decarbonising Singapore’s rapidly growing data centre industry, which faces substantial clean energy challenges.

Seonghoon Woo, CEO of Amogy, expressed enthusiasm about the partnership, stating, “This collaboration marks an important step toward advancing decarbonisation in critical sectors such as data centres and heavy industry.” Lim Keng Hui of A*STAR added, “By advancing technologies for low or zero-carbon ammonia for power generation, we can help pave the way to decarbonise hard-to-abate industries.”

This collaboration highlights Singapore’s commitment to clean energy innovation and its role as a regional hub for low-carbon technologies.

Quantified Energy (QE), a Singapore-based AI and automation company, has entered into a strategic Memorandum of Understanding with Generali China Insurance (GCI), part of the global Generali Group. This collaboration aims to revolutionise solar power plant insurance by incorporating QE’s advanced drone Electroluminescence (EL) mapping technology into GCI’s insurance processes.

The partnership will utilise QE’s proprietary drone EL inspection technology to detect internal defects in solar photovoltaic modules, such as micro-cracks and early-stage degradation, which are not visible to the naked eye. This technology will be integrated into GCI’s risk management ecosystem, setting new standards for solar asset protection throughout their lifecycle—from construction to post-disaster assessment.

Yan Wang, CEO and Co-founder of QE, stated, “By partnering with a global insurer like Generali, we’re transforming EL from a factory-based test into an industry-wide risk management standard—helping solar owners and insurers alike shift from reactive claims handling to proactive asset protection.”

The collaboration will also see QE developing a Technical Due Diligence evaluation protocol and rating algorithm to support risk surveys for reinsurance and refinancing. Jack Yuan, CEO at GCI, highlighted the importance of this technology, saying, “QE’s aerial EL technology offers an unprecedented level of insight into the health of solar farms.”

This partnership not only validates QE’s inspection technology on an international scale but also showcases Singapore-led innovation’s potential to influence the global renewable energy industry. As the renewable energy sector grows, the need for sophisticated risk management tools becomes increasingly critical, and this collaboration is poised to meet that demand.

Trip.Biz, the business travel management arm of Trip.com Group, has launched Trip.Biz ONE, a comprehensive solution designed to transform how organisations manage business travel. Announced at the Trip.Biz Transform 2025 conference in Singapore, the platform aims to address common challenges such as booking leakages, policy non-compliance, and inefficient reconciliation processes.

Trip.Biz ONE consolidates bookings, ensuring adherence to travel policies whilst integrating artificial intelligence and business intelligence features. This all-in-one platform is set to make business travel management more efficient for companies by providing a seamless experience.

The launch comes as companies increasingly seek solutions to streamline travel management and reduce costs. By offering a single platform for all travel-related activities, Trip.Biz ONE aims to eliminate off-platform bookings and overspending, which are common issues faced by corporates.

Trip.Biz ONE’s introduction reflects the growing demand for digital solutions in the corporate travel sector. As businesses continue to navigate the complexities of travel management, platforms like Trip.Biz ONE could play a crucial role in enhancing efficiency and compliance.

The future implications of Trip.Biz ONE could see a shift in how businesses approach travel management, potentially setting a new standard in the industry.

Global apparel retailer UNIQLO has announced the grand reopening of its Orchard Central Global Flagship Store on 26 September. The revamped store promises an enhanced shopping experience, featuring improved layouts, intuitive product discovery, and upgraded fitting rooms. The reopening also highlights UNIQLO’s dedication to the local community with a specially curated City Guide showcasing homegrown brands and a Singapore-inspired Mickey Mouse collection.

The store, first opened in March 2016, has been redesigned to offer a seamless, customer-focused shopping journey. Key changes include an expanded façade for better visibility of the latest LifeWear collection and aligning women’s and children’s categories for convenience. Joey Tong, Director of Store Development, noted, “We reimagined the store experience by anticipating the needs of our customers.”

In celebration of local culture, UNIQLO has partnered with twelve homegrown brands to create a City Guide, encouraging customers to explore local businesses. The store will also feature a MAGIC FOR ALL Collection with Mickey Mouse designs inspired by Singapore landmarks.

Opening weekend festivities from 26 to 28 September include traditional Japanese Taiko drum performances and exclusive offers for APP members. Customers can redeem items such as a free bake from Kamome Bakery and a UNIQLO Mickey Singapore Flower Bouquet with qualifying purchases. Additionally, spending S$100 in-store grants access to further rewards, including a tote bag and a $10 voucher for DBS or POSB cardholders.

The UNIQLO Orchard Central Global Flagship Store is located at 181 Orchard Road, Singapore, and will reopen at 10am on 26 September.

Canon has unveiled Tungsten TotalAgility, an advanced intelligent automation platform, as part of its digital transformation offerings for businesses across Asia. This platform, developed by Tungsten Automation, integrates artificial intelligence (AI) with robust document processing to streamline operations and enhance productivity. The launch aligns with the growing demand for intelligent automation, with the Asia-Pacific Intelligent Document Processing market expected to reach $10.57b by 2035.

Fukui Shinsuke, Senior Director of Regional Business Imaging Solutions at Canon Singapore, stated, “The introduction of Tungsten TotalAgility marks a pivotal addition to Canon’s suite of offerings, as we redefine intelligent automation and empower businesses to navigate the new frontier of efficiency.”

Tungsten TotalAgility is a plug-and-play solution that combines Intelligent Document Processing, Knowledge Discovery, and Process Orchestration. It transforms source information into actionable insights, automating processes to improve efficiency. Key features include advanced AI capabilities, a user-friendly low-code interface, robust security, and seamless integration with existing systems like SAP and Oracle.

The platform is applicable across various industries, including manufacturing, logistics, and finance. In logistics, for example, it can reduce lead times for tracking updates by up to 80%, freeing resources for more critical tasks.

Available from Q3 2025 in Singapore and India, with plans to expand across Asia, Tungsten TotalAgility promises seamless integration and localised support for businesses embarking on their automation journey.

CIMB Group Holdings Berhad has announced a strategic partnership with PingPong Global Holding Limited, marking the first two-way collaboration between an ASEAN bank and the global payments leader. This partnership, formalised through a Memorandum of Understanding, aims to integrate CIMB’s banking infrastructure with PingPong’s global network to provide faster, more secure, and efficient cross-border payment services for businesses across the ASEAN region.

The initiative will initially launch in Malaysia, with plans to expand into Indonesia, Singapore, Thailand, and Cambodia. This collaboration is set to benefit businesses by offering seamless cross-border payment solutions, integrated financial services, and expert support, enabling them to optimise operations and explore new growth opportunities in international markets.

Lawrence Loh, Co-CEO of Group Commercial and Transaction Banking at CIMB, stated, “Seamless cross border transactions are integral for businesses to thrive in today’s digital and connected economy.” He emphasised that the partnership would empower enterprises and SMEs to transact globally with greater ease and confidence.

PingPong’s APAC CEO, Jianqin Shu, expressed excitement about the partnership, highlighting the potential to make cross-border B2B payments as simple as local transactions. The collaboration will allow businesses to access multi-currency virtual accounts, eliminating costly cross-border fees and enhancing payment flexibility.

Through this partnership, CIMB will also offer merchant financing solutions and white-label SME card solutions for PingPong’s customers, further enhancing their payment capabilities. This collaboration underscores CIMB’s commitment to driving regional business growth and trade within ASEAN.

The Singapore government has announced the extension of the 4% interest rate floor on Central Provident Fund (CPF) Special, MediSave, and Retirement Accounts until 31 December 2026. This decision aims to provide continued financial stability and assurance to CPF members amidst fluctuating economic conditions.

The extension of the interest rate floor is significant as it ensures that CPF members will continue to earn a minimum of 4% interest on their savings in these accounts. This move is designed to help Singaporeans better plan for their healthcare and retirement needs by providing a stable and predictable return on their savings.

The CPF Board stated, “The extension of the 4% interest rate floor will provide CPF members with greater certainty and assurance in their financial planning.” This measure is part of the government’s ongoing efforts to support Singaporeans in building a secure financial future.

By maintaining the interest rate floor, the government aims to mitigate the impact of potential interest rate fluctuations in the broader financial markets. This decision reflects the government’s commitment to safeguarding the financial well-being of its citizens, particularly in times of economic uncertainty.

The extension of the interest rate floor is expected to benefit a wide range of CPF members, ensuring that their savings continue to grow at a steady rate. This initiative underscores the importance of the CPF system in supporting Singaporeans’ long-term financial security.

Global analytics leader FICO has unveiled findings from a recent survey of senior banking leaders across Asia Pacific, highlighting significant challenges in achieving hyper-personalisation. Despite 88% of banks employing predictive analytics to anticipate customer needs, a mere 11% rate their strategies as highly advanced, underscoring a struggle to convert data into actionable insights.

The survey, conducted during FICO’s Platform Experience event in Singapore, involved over 30 senior executives and C-suite leaders. It revealed that 72% of banks have siloed or partially integrated customer communication channels, hindering seamless engagement. Additionally, 50% of respondents admitted that no more than half of their customer-facing decisions, such as credit approvals and fraud alerts, are automated.

Dattu Kompella, managing director in Asia Pacific for FICO, noted, “Consumers now expect the same level of personalisation from their banks as they do from Netflix and Amazon. With most banks still struggling to meet these expectations, those that succeed will gain a decisive edge in a market where customer experience is the ultimate differentiator.”

The survey also highlighted that whilst 43% of banks significantly leverage real-time data for customer insights, most remain at minimal or moderate adoption levels. Only 37% reported extensive use of predictive analytics, indicating limited maturity despite broad adoption.

To bridge this gap, banks are encouraged to unify data and decision-making processes across the customer lifecycle. Kompella added, “By consolidating activities, behaviours, and preferences into a single decisioning platform, banks can act on insights in real-time, driving deeper engagement and loyalty.”

The findings emphasise the urgent need for banks to enhance their personalisation efforts to remain competitive in an increasingly customer-centric market.