News

Deloitte: Southeast Asia raises about $5.5 billion year to date, the lowest in eight years

Southeast Asia has raised approximately $5.5 billion via initial public offering (IPO) in the first 10.5 months of 2023, the lowest in eight years, Deloitte said Thursday. The total IPO raised down from $7.6 billion in 2022. Meanwhile, the IPO amount for the first 10.5 months of 2023 stands at 153, also down from 163 in the full year of 2022.

HashKey Exchange insured by OneInfinity by OneDegree for digital wallet coverage

HashKey Exchange, Hong Kong’s licensed virtual asset exchange, has officially closed the deal with OneInfinity by OneDegree, a licensed insurer for digital assets in Asia. OneInfinity by OneDegree will provide insurance cover for digital assets stored in both hot wallet and cold wallet for HashKey Exchange, providing comprehensive coverage for investors.

HSBC-backed Bizbaz announces strategic partnership with RCBC Bank

Singapore-based credit scoring and risk models assessment solution Bizbaz has announced a strategic partnership with Philippine retail bank Rizal Commercial Banking Corporation (RCBC Bank) to integrate AI-driven credit scoring to expand lending and increase financial inclusion.

Cisco: only 14 percent of global organizations are fully prepared to deploy and leverage AI

A mere 14 percent of organizations globally are fully prepared to deploy and leverage Artificial Intelligence (AI)-powered technologies, according to Cisco’ inaugural AI Readiness Index released on Tuesday. While AI adoption has been slowly progressing for decades, the advancements in generative AI, coupled with public availability in the past year, are…

UAE mobility and logistics startup Wize raises $16 million in pre-Seed round

Wize, a Dubai-based startup providing sustainable solutions for last-mile delivery, has raised $16 million in a pre-Seed funding round co-led by Mena-focused angel investors. The funds will be spent to enhance the company's presence in the United Arab Emirates (UAE) market, further product development and explore new partnership opportunities in the Middle…

Singapore’s StraitsX gets approval to issue single-currency pegged stablecoins

Singapore-based digital asset platform StraitsX has received in-principle approval (IPA) from the Monetary Authority of Singapore (MAS) as major oayment institutions licensed for digital payment token services, for the purpose of issuing XSGD and XUSD respectively.

Indonesia’s VC deal value expected to decline 70-80% in 2023, says report

Despite a degree of cautious optimism, Indonesia's venture capital deal value is expected to decline 70 percent to 80 percent in 2023, according to a report revealed by Indonesia-based venture capital firm AC Ventures and global consultancy Bain & Company on Wednesday.

Antler strengthens team with key hires to drive strategic investments in Southeast Asia

Antler, a Singapore-based global early-stage venture capital firm, has announced a trio of significant appointments - Shao-Ning Huang and Lorenzo Peracchione as Venture Partners, and Tudor Coman as Investment Director.

MAS partners industry to develop generative AI risk framework for the financial sector

The Monetary Authority of Singapore (MAS) has on Wednesday announced the successful conclusion of phase one of Project MindForge1 which seeks to develop a risk framework for the use of Generative Artificial Intelligence (GenAI) for the financial sector.

MYEG and Yayasan Chow Kit join hands to prepare youth for the Web3 era

MY E.G. Services Berhad (MYEG), a e-government service provider in Malaysia, has partnered with non-profit organization Yayasan Chow Kit (YCK) to foster digital inclusivity for marginalized youth in and around Chow Kit area in Kuala Lumpur.