In the face of unprecedented challenges, neighbourhood merchants have proven themselves to be the backbone of our economy. These small but mighty businesses have consistently ensured that we have access to food, daily needs, and essential supplies, even when the world around us came to a standstill.

During times of unrest, such as the current situation in Bangladesh, the COVID-19 pandemic, or any other crisis, these retail heroes have remained active, stepping up to support our daily lives.

The retail sector in Bangladesh, particularly the retailer and small shop ecosystem, holds immense societal and economic significance. According to reports, a staggering 97 per cent of consumption in Bangladesh occurs through small retailers, marking the highest consumption in South Asia through this channel.

These small shops are not just points of transaction; they embody trust and familiarity, often providing credit options and accommodating the preferences of their customers. They are deeply intertwined with the community, driving local employment and economic growth. Supporting and enhancing the operations of these small retailers is not just an economic imperative; it’s a recognition of their vital role in shaping both livelihoods and communities.

With an estimated market size of US$200 billion, the retail sector is a substantial contributor to our growing economy. In fact, Bangladesh boasts one of the fastest-growing economies globally, heavily driven by consumption, with over 70 per cent of GDP attributed to this sector and 47 per cent specifically tied to retail.

However, more than 95 per cent of the retail market remains fragmented. This substantial fragmentation creates inefficiencies, hampering the distribution chain and presenting a significant opportunity for tech-enabled players to effect notable disruptions. Addressing these inefficiencies and streamlining the value chain could result in a remarkable increase, projecting a market worth approximately US$280 billion by 2025.

During the recent unrest, when the government allowed a few hours for people to purchase essentials, we at PriyoShop worked tirelessly to maintain a seamless supply chain for these vital shops. Our efforts were centred around ensuring the availability of essential items like rice, lentils, flour, salt, sugar, and cooking oil, always prioritising safety measures to protect both our team and the community. It was a monumental task, but one that was crucial for the well-being of our neighbourhoods.

Also Read: How PriyoShop is revolutionising the B2B procurement process

Despite our best efforts, we couldn’t make it all happen digitally in areas with disconnected internet connectivity. However, the team at PriyoShop worked diligently to ensure the smooth functioning of the supply chain as much as we could.

Being part of this effort during such times has been incredibly humbling. It has highlighted the resilience and dedication of our neighbourhood merchants and reinforced the importance of a strong and reliable supply chain in maintaining community stability. Our team at PriyoShop has always been committed to empowering these micro-merchants, and this period truly tested and proved our mission.

We didn’t just see this as a responsibility; we saw it as a vital contribution to our communities. By ensuring that essential supplies reached every corner, we helped maintain a sense of normalcy and security for countless families. It was a powerful reminder of how interconnected we all are and how critical these small businesses are to the fabric of our society.

However, the retail ecosystem in Bangladesh faces critical challenges, notably in sourcing, logistics, and financing. Small retailers struggle with sourcing quality products at reasonable prices, efficient logistics to reach customers, and adequate financing to sustain and expand their businesses.

Also Read: Accelerating Asia, Iterative back B2B retail marketplace PriyoShop’s US$5M round

Our nation’s strategic focus on Vision 2021 to attain middle-income status has spurred economic growth, with expectations of reaching a trillion-dollar economy by 2041. To realise this vision, addressing these challenges is essential.

I am incredibly proud to have been part of this contribution during such critical times. It’s moments like these that underscore the importance of our work and the profound impact it has on our community. As we move forward, PriyoShop remains dedicated to supporting and empowering neighbourhood merchants, ensuring that they continue to thrive and serve their communities.

Neighbourhood merchants are not just businesses; they are the lifeblood of our communities. Their resilience, dedication, and unwavering commitment during times of crisis deserve our deepest gratitude and continued support. Let us celebrate these unsung heroes and recognise the invaluable role they play in our lives every day.

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A recent report shared that investing in proper waste management and recycling solutions in Southeast Asia and India could cut emissions by 229 million metric tonnes by 2030. That is the equivalent of shutting down 61 coal-fired power plants.

Waste management and recycling are critical in supporting the transition to a low-carbon economy – especially in this region. As per another report, back in in 2021 Asia was the largest waste-producing continent on Earth. By 2025, it is estimated that 1.8 billion tonnes will be generated by urban cities alone in Asia.

In today’s world of relentless innovation, technology providers have a pivotal role to play in leading the charge toward sustainability, both in their scale and as a catalyst for industry-wide transformation toward a more sustainable future.

A circular approach

As the World Economic Forum once shared, it is challenging for companies alone to change the whole of society. The main reason stems from how many products are not being designed to be recycled. The solution is material innovation, which involves finding novel ways to consciously select and integrate sustainable materials into products and packaging.

This is a fundamental aspect of any sustainability strategy. Circularity in materials is essential, and so is “responsible chemistry” in using sustainable materials, meaning the evaluation of materials that don’t create a burden at the recycling stage. By embracing circular materials, we not only reduce a product’s environmental footprint, but when we scale up the use of those materials, we also cultivate new markets for sustainable alternatives.

Recycling ‘ocean-bound plastics’ (OBPs) — defined as “plastic waste at risk of ending up in the ocean” — is one way we can address the waste challenge. By using it as a key material in creating products and packaging, we can incorporate circularity into the lifecycles wherever possible. For example, products such as the Latitude 5000 series feature 28 per cent ocean-bound plastic in the fan housing and packaging, such as EcoLoop carrying cases, to name a few.

Partnering for purpose

But change cannot happen in silos — that is why the ecosystem approach to sustainability is crucial. Partnerships form the backbone of a thriving ecosystem, and this holds true especially when triggering a “change” reaction that ripples through the entire supply chain to ultimately foster economic growth and support communities.

Also Read: The circular economy as the next frontier for Asia’s innovators

An example of how the ecosystem kickstarts a cycle is Dell’s Asset Recovery Services — Dell’s partners from South Asia and emerging markets are making active efforts to utilise their abilities to resell, recycle or return to lease excess hardware in a responsible, secure and environmentally conscious manner.

The network has also allowed us to spearhead local initiatives in certain markets, such as a nationwide ongoing e-waste collection campaign in Singapore. The initiative utilises a dedicated electric vehicle (EV) van to facilitate easy recycling or retirement of computer technology and IT equipment for all stakeholders — employees, customers, partners, etc.

When it came to incorporating recycled OBPs into products and packaging, Dell saw an opportunity to spearhead a supply chain. Plastics break down in water, and the material must be intercepted before it enters the ocean. Embarking on this journey meant starting at the beginning — prioritising building a commercially viable and scalable supply chain to intercept OBPs.

This is especially meaningful in Asia, where the plastics pollution problem is dire due to a discrepancy between recycling capacity, waste imports and generation. Collaborating with suppliers like Polindo Utama in Indonesia helps us understand the recycled ocean-bound plastics supply chain at the market level.

Additionally, this partnership acts as a model for expanding the NextWave Plastics consortium into other critical markets and growing the collective reach and impact as a community of concerned companies. The consortium now spans 21 countries, including Indonesia, Haiti and the Philippines. As of the end of 2022, the consortium diverted the equivalent of over 2.27 billion water bottles from entering oceans and waterways.

Creating a ripple effect on material innovation

Forward-thinking companies are wielding material innovation as a scalpel, meticulously dissecting the traditional, linear product lifecycle and crafting a circular one. The ocean-bound plastics movement serves as a potent case study, not just for its environmental impact but for its ability to ignite a chain reaction of positive change throughout the supply chain.

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A scene familiar to many Singaporeans: you have at least three browser tabs open on your computer. One is on the Housing & Development Board (HDB) website, another is on the Urban Redevelopment Authority (URA) website, and the third is on a property portal. You’re juggling data points, cross-referencing floor plans, and trying to make sense of conflicting information, all in an attempt to figure out what a home is really worth.

In a country that prides itself on the Smart Nation initiative, which aims to leverage technology to improve the lives of its citizens, this manual, fragmented process for buying or renting a home, feels jarringly out of place. Why hasn’t real estate kept up?

The property portal problem: A decade behind

Singapore’s major property portals were built for a different time. A time when the internet was primarily a place for classified ads. Their design reflects this legacy, focusing on listing advertisements rather than empowering users to complete a transaction. The core assumption behind this model is that buyers are passive browsers and sellers require a paid listing to gain visibility.

This “pay-to-play” model creates a system where visibility is tied to ad spend, not the quality or relevance of the listing. As a result, agents are often disempowered, forced to compete in a crowded, expensive digital space, while consumers struggle with information asymmetry and a lack of transparency.

This outdated approach leaves both buyers and renters in a state of confusion. They are forced to rely on agents for information that is often publicly available from sources like HDB or URA, but difficult to piece together. This reliance can lead to missed opportunities and unnecessary fees. Duplicate listings are common, and the process of booking viewings, making offers, or negotiating is often handled offline, creating a frustrating and opaque experience.

Also Read: Smart nation, smart homes: How Singapore’s proptech ecosystem is redefining urban living

A smarter, simpler alternative

A new wave of property technology, or “proptech,” startups is changing this paradigm. Instead of building another listing site, they are creating platforms that bring every step of the real estate journey into one unified digital space. These services act as a “copilot,” not just for buyers and sellers, but for agents as well. Kucing, for example, is a key player in this new space.

These platforms are built on the principle of active decision-making. They don’t just show you a list of properties; they provide integrated tools that empower you to act on insights. For example, a platform might offer interactive price maps that instantly show transaction data from sources like HDB and URA, in-app viewing bookings that sync with both the buyer’s and seller’s calendars, and a direct chat feature for secure negotiations.

Key to this approach is the integration with government services like IRAS, SLA, SingPass and CPF. By using Singpass to verify identity, these platforms build a layer of trust and security that is currently missing from the market. This integration also allows for a seamless experience, where users can see exactly how much of their CPF they can use for a property purchase or calculate their monthly mortgage payments based on real-time data. This public-private partnership creates a user experience that meets the high expectations Singaporeans have for digital services.

While a platform like Kucing is a prime example of this evolution, it’s part of a broader trend where technology is enabling smarter tools and greater transparency in property transactions. The successful facilitation of a S$2.1 million resale transaction on its app demonstrates that this integrated approach is not just a concept, but a viable and effective model for modernizing the property market.

The future of property tech: A call to action

Modernising Singapore’s property market isn’t about radical disruption; it’s about reimagining the digital infrastructure. Proptechs and regulators have a unique opportunity to collaborate and treat property technology as essential digital infrastructure, not just a platform for classifieds. This means moving beyond a simple list of homes for sale and creating an ecosystem where all the necessary pieces are connected.

The pieces to solve the Property Portal Problem already exist. The data is available, the technology is mature, and the demand for a better experience is clear. It’s simply a matter of connecting them in a smarter, more cohesive way. The question is, are we ready to build that future?

Also Read: Vietnam’s proptech startup WeSale bags seed capital from Hitseries Capital

Building the future of real estate, together

Singapore has all the ingredients to lead the next chapter of property innovation: rich data, a digitally literate population, and a government committed to technological advancement. But our property market is still operating on outdated assumptions and fragmented systems. The opportunity before us is not just to make buying or renting a home more convenient, but to redefine the entire real estate experience—simpler, smarter, and more transparent for everyone.

Proptech platforms like to show that this future isn’t hypothetical but it’s already here. What’s needed now is bold collaboration: between startups and regulators, data holders and developers, agents and end-users. If we treat property technology as critical infrastructure rather than just another marketplace, we can finally close the gap between aspiration and reality.

It’s time to move beyond listings. Let’s build a real estate ecosystem that actually works, for the people who live in it.

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AI adoption among consumers is evolving, moving towards more sophisticated and knowledge-intensive applications, per a new analysis from the Anthropic Economic Index. Over eight months leading up to August 2025, usage patterns on Claude.ai have shown notable changes accompanying improvements in underlying model capabilities.

While computer and mathematical tasks still dominate overall usage at 36 per cent, there is sustained growth in knowledge-intensive fields. Educational instruction and library tasks surged from 9 per cent to 12 per cent of sampled conversations. Similarly, life, physical, and social science tasks increased from 6 per cent to 7 per cent.

Also Read: Anthropic index shows AI boom risks widening global inequality

This divergence suggests that AI usage is diffusing especially quickly among tasks involving knowledge synthesis and explanation, potentially because these tasks benefit more from Claude’s reasoning capabilities.

Programme creation overtakes debugging

A key insight into the growing reliability of AI models is seen within the dominant coding category. Tasks related to creating new code more than doubled, increasing by 4.5 percentage points (from 4.1 per cent to 8.6 per cent).

Concurrently, debugging and error correction tasks fell by 2.8 percentage points (from 16.1 per cent to 13.3 per cent). This net shift towards creation over fixing code suggests that models have become increasingly reliable, enabling users to accomplish more of their goals in a single exchange and spend less time fixing problems.

User confidence drives directive automation

The collaboration style between users and Claude is also shifting dramatically. The share of “directive” conversations, where users delegate complete tasks to Claude with minimal back-and-forth, jumped from 27 per cent to 39 per cent.

Also Read: Anthropic data shows businesses use AI to automate, not collaborate

This surge came primarily at the expense of “task iteration” and “learning” interactions. In this report iteration (V3), automation usage (now 49 per cent) has surpassed augmentation usage (45 per cent) for the first time. This shift signals growing user confidence in the AI’s ability to complete high-quality outputs on the first attempt, a form of learning-by-doing.

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Not long ago, I was speaking with an entrepreneur and the founder of a promising startup. She had about US$200,000 sitting in her bank, earning 0.1 per cent a year – and was contemplating taking on expensive debt to fund crucial hires and keep the lights on. This is a common refrain I’ve heard too often — founders taking on costly debt while their own capital sits idle, when better treasury tools could have made it work harder.

Today’s entrepreneurs are some of the sharpest people I know: obsessive about burn rates and relentless in negotiating contracts and payment terms down to the last cent. Yet when it comes to idle cash, they are often left with outdated solutions that quietly eat away at their runway.

The contradiction is alarming. We celebrate entrepreneurship as the engine of growth, but the financial system penalises the very people driving it. Having faced the same impossible financial trade-offs, I know first-hand that traditional investment solutions from financial institutions aren’t designed for early-stage startups that need both growth and flexibility.

Professional money market funds demand million-dollar minimums. Meanwhile, Investment platforms require capital lockups that entirely overlook the volatility of small business cash flow, especially in sectors where seasonal fluctuations can make or break a business. Onboarding often presumes a dedicated finance team that can wade through complex documentation. For early-stage companies, where cash needs can swing overnight, none of this fits.

And the costs are real. Research suggests SMEs in Singapore alone lose SG$800 million (US$584 million) annually in foregone interest — capital that could support hiring, marketing or keeping businesses alive long enough to scale. Aspire’s own data shows that 55 per cent of funds sit idle in low-yield accounts, generating negligible returns.

Also Read: How technology has revolutionised operational efficiency in consumer finance

The good news is that we are starting to see a mindset shift. Financial technology — from automated cash management to sophisticated treasury tools designed specifically for smaller businesses — is beginning to address some of these long-standing pain points. Progressive financial institutions, too, are recognising the opportunity and are increasingly partnering with fintechs to serve small businesses and startups.

But tools alone are not enough. Founders must demand more: research alternatives, challenge traditional banking relationships, and adopt solutions that turn cash from a static asset into a legitimate growth engine. Every month delayed is money left on the table.

Through my own experience, and hundreds of conversations with successful business owners, I’ve found that what early-stage companies really need is often very different to what’s assumed. Here are the themes that emerge most consistently:

• Liquidity: Given a choice, founders will always choose flexibility over a slightly higher return. Earning 3–4 per cent with next-day access is far more valuable than six per cent locked up for months. When a crucial hire appears or a competitor is suddenly in play, capital needs to be available immediately.
• Simplicity: Startups don’t have treasury departments — they have founders splitting time between customer meetings and product sprints. Managing money across multiple accounts is tedious and distracting – so find the most useful solution that integrates seamlessly into existing workflows to free up your time.
• Transparency: In the fast-moving startup world, businesses need real-time insights into their cash position so they can pivot quickly when conditions change. Solutions that create administrative overhead or obscure risks do more harm than good.
• Risk management: Founders can’t afford to gamble with working capital, neither can they let inflation quietly drain resources. What they need is risk management that protects capital without the institutional-scale complexity that weighs down legacy businesses.

Also Read: Why embedded finance is critical to Southeast Asia’s digital future

The past seven years as a founder have been the most rewarding and nerve-wracking time of my life. If there’s one personal lesson I can leave you with, it’s this: cash management will never be as exciting as raising a new round, but it is often the more decisive factor in whether a business survives long enough to raise the next one.

The founders who recognise this — and demand better tools to put their capital to work — will give themselves a longer runway, greater resilience, and more freedom to seize the opportunities that matter.

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Editor’s note: e27 aims to foster thought leadership by publishing views from the community. Share your opinion by submitting an article, video, podcast, or infographic.

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We took a hit from recent economic data that stirred up doubts about the timing of interest rate cuts. Investors faced a mix of signals from the US economy, which showed strength in some areas but left questions about inflation and labour trends. The Labour Department noted that initial jobless claims fell by 14,000 to 218,000 for the week ending September 20, beating what analysts expected.

At the same time, revised figures indicated the economy expanded at a 3.8 per cent pace in the second quarter, up from the earlier estimate of 3.3 per cent, thanks to robust consumer spending and business investments. These numbers painted a picture of resilience, yet they prompted traders to dial back bets on quick rate reductions.

The odds of a cut in December dropped by 20 per cent, and for January 2026, they fell by 30 per cent. Attention now turns to the Personal Consumption Expenditures price index set for release on Friday, which investors see as a key gauge for the Federal Reserve’s next moves on rates.

Wall Street pulls back as yields climb

Wall Street extended its slide for a third day on Thursday, with the Dow Jones dipping 0.38 per cent, the S&P 500 losing 0.50 per cent, and the Nasdaq also down 0.50 per cent. Fading hopes for imminent rate cuts fuelled the pullback, as participants adjusted portfolios amid the uncertainty.

Treasury yields climbed, reflecting expectations of rates staying higher for longer. The 10-year yield added 2.3 basis points to close at 4.170 per cent, while the two-year yield jumped 5.1 basis points to 3.655 per cent. The dollar strengthened, with its index rising 0.69 per cent to 98.553, bolstered by the solid economic readings.

Gold edged up 0.4 per cent to US$3,749.44 per ounce, drawing support from increased physical demand despite the dollar’s gain. Brent crude oil ticked higher by 0.2 per cent to US$69.42 per barrel, holding steady amid global energy flows.

Asian stocks closed mixed on Thursday due to some profit-taking, and they showed varied performance in early Friday trading. Futures pointed to a lower open for US equities, suggesting the cautious mood would carry over.

Crypto market hit by liquidations

The cryptocurrency market endured a sharp 3.01 per cent drop over the past 24 hours, building on a 7.22 per cent decline over the last week. Several factors converged to drive this downturn, including wavering Federal Reserve signals, massive liquidations totalling US$1.5 billion, and breakdowns in key technical levels.

The Fed’s initial rate cut on September 17 sparked a brief rally, but Chair Powell’s comments on September 24 about potential labour risks and persistent inflation flipped the script, leading to risk-averse behaviour across assets. Traders currently assign a 91.9 per cent probability to another cut in October, according to Bitget News, but the crypto sector’s growing tie to traditional markets amplified the fallout.

Its correlation with the Nasdaq-100 reached +0.65 over the last day, making digital assets particularly exposed to broader economic jitters. This setup left crypto in a vulnerable spot, as participants weighed whether monetary easing could counter slowdown fears.

Also Read: Professionalised crypto crime: 2025 becomes third-worst year on record

Leverage and technical weakness amplify the sell-off

Liquidations added fuel to the fire, with US$1.5 billion wiped out between September 22 and 24, marking the biggest such event since December 2024. Assets like Solana, down 6.2 per cent, NEAR, off 8.5 per cent, and memecoins such as Aster, plunging 23 per cent, bore the brunt as long positions unraveled.

Open interest climbed 9.05 per cent in the last 24 hours, hinting at excessive leverage that backfired. In thinner markets for altcoins, these forced sales created a vicious cycle, pushing prices lower and triggering more exits. Technically, the overall crypto market capitalisation slipped below its seven-day simple moving average of US$3.89 trillion and the pivotal US$3.76 trillion mark.

The 14-day relative strength index hit 26.5, indicating oversold territory, though without signs of bullish divergence to suggest a turnaround yet. Algorithmic trading and institutional players likely sped up the sell-off once supports gave way, hitting high-volatility coins hardest.

The bigger picture: Macro links and market fragility

From my personal view, this episode highlights how tightly intertwined crypto has become with macroeconomic forces, a shift that brings both opportunities and pitfalls. A strong US economy, as evidenced by the jobless claims and GDP revisions, should theoretically support risk assets over time, but the immediate reaction underscores a market fixated on short-term Fed cues.

Crypto’s evolution from a niche alternative to a correlated play on tech and growth means it amplifies Nasdaq moves, which works well in bull runs but exposes it during pullbacks. The liquidations reveal ongoing issues with leverage in derivatives, where euphoria builds positions that crumble under pressure, often dragging spot prices down.

Technically, the oversold readings offer a glimmer of hope for a rebound, especially if Bitcoin holds its ground above US$97,000 to US$104,000, aligning with its 200-day and 365-day moving averages. Bitcoin dominance at 58.16 per cent suggests it could lead any recovery, potentially allowing altcoins to catch up if macro fears ease.

Also Read: The great divergence: How US inflation, jobless claims, and crypto charts are clashing ahead of the Fed’s big decision

What comes next: Data to watch

Looking ahead, the Personal Consumption Expenditures data on Friday could pivot sentiment if it shows cooling inflation, reopening the door for cuts. Upcoming PMI figures and further jobless claims will test whether the labor market’s strength persists or softens, influencing risk appetite.

In crypto, eyes remain on Bitcoin’s US$100,000 threshold and Ethereum’s US$3,400 level, as breaks lower might spark another liquidation spiral. If altcoins manage to break from Bitcoin’s lead, it could signal a maturing market less dependent on the flagship asset.

Overall, the current fragility stems from this confluence of doubts, deleveraging, and chart failures, but history shows such dips often precede bounces when fundamentals align. Investors would do well to stay vigilant on Fed communications and monitor for stabilisation signs, as the path forward depends on balancing economic vigour with policy support.

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Editor’s note: e27 aims to foster thought leadership by publishing views from the community. Share your opinion by submitting an article, video, podcast, or infographic.

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Artificial Intelligence has entered the workforce at a pace unseen in past technological shifts. However, the latest findings from the Anthropic Economic Index make clear that its benefits are not equally distributed.

Singapore, long a leader in tech adoption, stands out with an AI Usage Index of 4.57, reflecting its skilled workforce, strong digital infrastructure, and supportive policy landscape. This puts it ahead of many advanced economies, underscoring its role as a global AI hub.

Yet, the same data highlights a troubling imbalance. Despite their demographic weight and entrepreneurial energy, emerging economies such as Indonesia, India, and Nigeria are far behind on a per capita basis.

The correlation with income and infrastructure is unsurprising, but the implications are significant. The divide between rich and developing nations may widen if AI-powered productivity gains accrue disproportionately to high-adoption economies.

The narrative of technology as a great equaliser is under threat. Instead, AI risks accelerating divergence, locking structural disadvantages for lower-income economies.

For Southeast Asia, the challenge is clear: to expand digital infrastructure, invest in human capital, and create regulatory clarity that enables broader participation. Without this, AI’s promise of inclusive progress could give way to a new era of inequality.

REGIONAL

Singapore tops global AI hiring charts: One in six jobs now reference AI
The distribution of AI references highlights intense focus areas within the Singaporean economy | Roles in data & analytics led the adoption charge, featuring AI mentions in 57 per cent of postings | This was closely followed by roles in software development (39 per cent), scientific research (35 per cent), and industrial engineering (33 per cent).

Ayoconnect denies US$5M in alleged dubious transactions amid audit
The Jakarta-based fintech firm is undergoing an audit initiated by one of its investors, Mandiri Capital Indonesia (MCI) | Co-founder Chiragh Kirpalani says that the alleged dubious transactions are a “misunderstanding” and will be clarified once the audit is completed.

Professionalised crypto crime: 2025 becomes third-worst year on record
CryptoPresales.com reports that the number of crypto scams and thefts halved in 2025, yet total losses climbed to US$2.34B | This unprecedented loss figure is 35 per cent higher than the total recorded in 2024.

Stablecoins could unlock US$6.2T for ASEAN SMEs: Metacomp study
MetaComp’s whitepaper identifies five key inefficiencies, pointing out that daily global FX trading volumes exceed US$7.5T, yet blockchain-based settlements account for less than five per cent annually.

Coinbase, StraitsX set to launch XSGD stablecoin
This will allow users in Singapore and globally to access the Singapore dollar-pegged digital asset | StraitsX issues stablecoins including XSGD and XUSD | Coinbase said XSGD complies with the Monetary Authority of Singapore’s upcoming regulations for single-currency stablecoins.

Thunes’s sister company acquires eSIM platform operator
The company DT One has acquired Dent Telecom (now Tunz), an embedded telecom company with an eSIM platform | DT One is a Singapore-based provider of cross-border digital transfer services for businesses | Tunz enables users in over 140 countries to purchase mobile data and install eSIMs via an app.

SG’s Antares Ventures joins German startup’s US$7.55M funding round
enaDyne develops non-thermal plasma catalysis reactors that convert greenhouse gases into chemicals | The company aims to offer its technology to industries such as semiconductors, petrochemicals, and biogas, which face pressure to decarbonise.

TikTok Shop launches US$4.74M stimulus package to boost digital economy in Malaysia
Through its new #JomLokal Booster Stimulus Package, TikTok Shop will provide enhanced support for local MSMEs and homegrown products |
Participating MSMEs can utilise any of the TikTok Shop LIVE Hubs across Malaysia free-of-charge for up to ten sessions each (two hours per session).

Singapore Fashion Council backs Loom Carbon to tackle textile waste
Loom Carbon utilises a proprietary, science-led approach that adapts proven pyrolysis technology | Its modular pyrolysis system converts mixed discarded textiles into high-value circular materials | These resultant materials include bio black and renewable oil, which can then be utilised as low-carbon fuels or precursors for new textile production.

US payment firm Yuno opens SG hub, expands to China
The New York-headquartered company aims to simplify cross-border payments for merchants | The firm has also introduced NOVA, an AI-powered tool designed to help merchants recover failed payments via customer outreach on phone and WhatsApp.

REPORTS, FEATURES & INTERVIEWS

Anthropic index shows AI boom risks widening global inequality
The stark disparity in AI adoption raises critical questions about global economic convergence | If the productivity gains afforded by AI concentrate in high-adoption economies like Singapore, current patterns suggest the benefits may accrue primarily to already-rich regions.

Anthropic data shows businesses use AI to automate, not collaborate
The data shows that 77 per cent of business API usage involves automation usage patterns, primarily full task delegation, where the AI completes a task with minimal back-and-forth | This is significantly higher than on the consumer-facing Claude.ai platform, where the split between automation and augmentation is nearly even, at approximately 50 per cent automation.

AI adoption evolves: Knowledge, confidence, and code creation soar
While computer and mathematical tasks still dominate overall usage at 36 per cent, there is sustained growth in knowledge-intensive fields | Educational instruction and library tasks surged from 9 per cent to 12 per cent of sampled conversations | Similarly, life, physical, and social science tasks increased from 6 per cent to 7 per cent.

EV adoption in the Philippines gains momentum, but challenges in financing and technicalities remain
Opportunities are emerging to accelerate the sector’s growth | One key measure is battery leasing, which lowers operators’ upfront costs | Battery leasing services should significantly reduce the upfront cost of vehicles, greatly pushing their market attractiveness.

INTERNATIONAL

Trump said to sign TikTok US deal on September 25
The agreement involves the divestment of TikTok’s US operations from ByteDance, its China-based parent company | Oracle and PE firm Silver Lake are among the investors in the deal | The White House previously said the arrangement will fulfil requirements set by a 2024 law concerning TikTok’s US ownership.

Australia plans crypto fines under new rules
A draft legislation recommends to impose penalties of up to 10 per cent of annual turnover on digital asset platform operators that breach new proposed rules | Cryptocurrency exchanges and other platforms will be required to obtain an Australian Financial Services License.

China warns ByteDance, Alibaba over trending content violations
The Cyberspace Administration of China (CAC) said Toutiao promoted “unhealthy content” in hot searches, while UCWeb spread “sensitive and malicious topics” about cyberbullying and children’s privacy | CAC summoned company representatives, issued official warnings, and ordered staff discipline with deadlines for compliance.

Temasek joins US$136M Series C for blockchain payment firm Fnality
Fnality operates wholesale payment systems using distributed ledger technology and is regulated by central banks | The company launched its Sterling Fnality Payment System in the UK in December 2023 and is working to expand its network to support more currencies and new payment solutions.

Kakao Pay, Japan’s PayPay partner on offline payments in Korea
The partnership allows PayPay users in Japan to make offline payments at over 2 million merchants in South Korea | PayPay is one of Japan’s largest cashless payment providers, with more than 70 million registered users | This marks PayPay’s first time enabling cross-border payments outside Japan.

SEMICONDUCTOR

Nvidia, Nokia join US$1.1B Series B for UK AI firm Nscale
Spun out from Australian cryptocurrency mining firm Arkon Energy in 2023, Nscale develops data centres designed for AI workloads | The funding will support Nscale’s AI data centre projects across Europe, including facilities for OpenAI’s Stargate initiative in the UK and Norway.

Nvidia’s investment in OpenAI includes cash, leased GPUs
Nvidia plans to invest up to US$100B in OpenAI, with most of the funds expected to be spent on Nvidia’s own GPUs | The investment will be deployed as new AI supercomputing facilities come online, starting with a site in Abilene, Texas, in the second half of 2026.

TSMC to build US$16.5B chip plant in central Taiwan
The company, the world’s largest contract chipmaker, aims to start production at the facility in 2028 with its most advanced process technology | The expected production value of the new fab is projected at up to US$16.5B, which is higher than previous estimates.

Alibaba integrates Nvidia’s AI software into its cloud platform
This will allow users to access Nvidia’s Physical AI software stack for projects like robotics and autonomous vehicles | The offering will be part of its Platform for AI, expanding options for developers | The move follows CEO Eddie Wu’s announcement to increase investment in AI infrastructure beyond the previously stated US$53B.

TSMC uses AI to boost chip energy efficiency
TSMC, which produces chips for Nvidia, said advances in chip design – using multiple smaller “chiplets” combined in a single package – could increase efficiency by up to 10x | The company is also adopting AI-powered design tools from Cadence Design Systems and Synopsys, which it said were able to outperform human engineers in some complex design tasks, and complete them faster.

AI

Alibaba’s AI push drives it to top China tech stock
The firm’s Hong Kong-listed shares surged 50 per cent in September 2025, the best performance on the Hang Seng Tech Index, driven by investor enthusiasm for its AI push | Alibaba boosted AI spending and announced a partnership with Nvidia, which lifted market confidence.

How can Malaysia leverage AI for growth and not see it as a threat?
As Malaysia delves deeper into the AI landscape, it’s clear that despite its growing accessibility, there remain substantial concerns impeding its widespread adoption in workplaces | These include technological limitations, risks to privacy and security, resistance stemming from cultural factors, and a shortage of AI-skilled professionals.

From promise to payoff: AI’s test amid global trade tensions
Across Asia Pacific, businesses implementing AI and automation are expected to achieve 20-30 per cent reductions in operational costs and over 40 per cent gains in efficiency | Deloitte’s Global Intelligent Automation survey found that organisations that advanced their automation efforts reported average cost savings of 32 per cent.

Is the future of AI decentralised? Cloud computing holds the key
The availability of hybrid and multi-cloud options play a critical role in developing blockchain infrastructure, enabling interoperability and decentralisation | They also address data residency concerns for organisations operating across multiple jurisdictions by storing sensitive data within designated geographic regions, minimising the risk of data breaches and regulatory non-compliance.

THOUGHT LEADERSHIP

Markets on edge: Fed ambiguity fuels risk-off mood as Aster surges amid crypto bloodbath
By August 2025, Hyperliquid surpassed Ethereum and Solana in user fee revenues, commanding a 75 to 80 per cent market share in perpetual DEX volumes at its peak | Its token, HYPE, traded at a US$15B market cap as of September 23, with daily volumes hitting US$200B and a total value locked exceeding US$670M.

Balancing personalisation and privacy in business marketing
Personalisation tailors interactions to meet individual preferences and needs, making each customer feel uniquely valued | For instance, a survey in the Asia-Pacific region found that 30 per cent of respondents felt an increase in trust toward brands that effectively used technology to personalise their experiences.

The rise of agentic AI: What CFOs and Founders need to know
Agentic AI will reshape work, decision-making, and customer experiences | But the organisations that benefit won’t be the ones that automate the fastest | They’ll be the ones that design these systems around what truly matters: human insight, trust, and resilience.

Cybersecurity for retail: How to avoid e-crimes
Just as retailers are searching for and employing new cyber defences, cybercriminals are evolving in their methodology and craft | Criminal organisations are adapting their tactics, techniques and procedures to stay ahead of security teams through legitimate employee credential harvesting and exploitation of new vulnerabilities from remote access applications, to name a few.

The human-algorithm dynamic: Transforming venture capital with predictive analytics
Algorithms and predictive analytics, though not a substitute for human acumen, have become instrumental in assessing startups efficiently | While these algorithms cannot directly identify “unicorns” (startups valued over a billion dollars), they serve as complex models that help navigate the investment landscape.

Founders’ blind spot: Lessons in money management
In the fast-moving startup world, businesses need real-time insights into their cash position so they can pivot quickly when conditions change | Solutions that create administrative overhead or obscure risks do more harm than good.

Why Singapore’s real estate is stuck in the past
Modernising Singapore’s property market isn’t about radical disruption; it’s about reimagining the digital infrastructure | Proptechs and regulators have a unique opportunity to collaborate and treat property technology as essential digital infrastructure, not just a platform for classifieds.

Funding challenges and strategies for B2B tech in 2025
Funding is still possible in 2025, but investors prioritise startups that show they’re ready to operate with the maturity of a scale-up from day one | Those who prepare early, stay disciplined, and align with the right partners will continue to find opportunities even in a cautious climate.

 

The post Ecosystem Roundup: Anthropic warns of AI inequality | Ayoconnect denies US$5M audit claims | Singapore leads AI hiring appeared first on e27.

Electronic waste (e-waste) is a growing environmental challenge in Singapore, with over 60,000 tonnes generated annually but less than one-fifth properly recycled. To empower young people to become catalysts for change, the Youth E-Waste Ambassador Program (YEAP), co-hosted by e27 and supported by Meta, equips Singapore’s youth with the skills and platforms to inspire action. 

On 15 January 2025, YEAP hosted its second Reels Workshop, an invite-only event exclusively for Singapore-based content creators. The workshop, led by Elizabeth Taylor, Marketing Trainer and Consultant, and Meta Certified Lead Trainer, focused on how youth can harness the power of Instagram Reels to spread awareness and inspire sustainable practices.

Teaching “an old app new tricks”

Instagram has been a familiar app for years, but the session reminded participants of its untapped creative potential. Elizabeth Taylor shared practical, actionable strategies to make Reels more engaging, impactful, and relatable. She emphasized the importance of keeping the voice authentic, simple, and on-point, aiming for under 15 seconds to maximize retention, and ensuring that content is entertaining, digestible, and relatable. 

From understanding viewer engagement to experimenting with new trends, the workshop was packed with insights that participants described as some of the most practical and actionable advice they had heard about creating and optimising Reels.

Also read: e27 and Meta partner to inspire youth-led e-waste solutions in Singapore with YEAP

Empowering creators for social impact

Beyond technical tips, the workshop highlighted the power of storytelling to drive change. Attendees left feeling inspired to sharpen their content strategies and use Reels to connect with audiences on sustainability topics, particularly the importance of e-waste management. Many noted that the session gave them renewed confidence and motivation to explore the full potential of Instagram Reels for both creative expression and social impact.

Building community and momentum

The Reels Workshop was part of YEAP’s ongoing commitment to combine digital skills training with community-driven sustainability advocacy. Participants were encouraged to join the YEAP Facebook Community and follow @ewaste.sg on Instagram, platforms where young ambassadors share campaigns, swap ideas, and collaborate on solutions to Singapore’s e-waste challenge. 

With demand for the session far exceeding available slots, a waitlist was created, reflecting the growing enthusiasm among youth creators to use digital storytelling for impact. The workshop also strengthened e27’s reputation for being a trusted and reliable partner, with participants and collaborators consistently noting the professionalism of the team. As Emma R. said, “Always a pleasure working with your team.”

Also read: Inside the e27 x IMI Venture Studio roundtable with Southeast Asia’s leading VCs

Looking ahead: Better content, bigger impact

The second Reels Workshop demonstrates how youth creativity combined with Meta’s digital tools can create campaigns that resonate and mobilize action. As YEAP continues, e27 and Meta are committed to scaling these efforts, equipping more youth ambassadors to inspire responsible e-waste practices and spark meaningful conversations across Singapore and Southeast Asia.

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Singapore’s fintech sector has experienced a powerful resurgence in the first half of 2025, attracting close to US$1.04 billion in investments across 90 deals, according to KPMG’s Pulse of Fintech H1’2025 report.

This significant influx marks the highest investment quantum seen in the city-state since the first half of 2023, when investments reached US$1.59 billion across 125 deals. Crucially, Singapore’s deal values increased by approximately 87 per cent year-on-year compared to H1 2024 and rose by 28 per cent from the second half of 2024 (H2 2024).

Also Read: Is fintech in SEA changing its focus for further development?

The strong performance positions Singapore as an outlier, given that global fintech investments registered a dip, falling to US$44.7 billion across 2,216 deals in H1 2025, down from US$54.2 billion recorded in H2 2024. Furthermore, the Asia-Pacific region saw the softest level of fintech investment globally, securing just US$4.2 billion across 363 deals.

Strategic hub status bolstered by regulation

The robust investment activity underscores Singapore’s perceived stability amid macroeconomic headwinds, including global trade fragmentation and tariff escalation.

Anton Ruddenklau, Partner, Head of Financial Services, KPMG in Singapore, emphasised the country’s strategic value: “The data for Singapore shows that the country is seen as a strategic hub for fintech innovation, supported by robust regulatory frameworks that have shaped a financial ecosystem known for its efficiency, resilience, and trustworthiness.”

Ruddenklau added that the market demands agile and resilient infrastructure in a climate of global trade tensions. “The ability to enable decentralised, tech-driven, and non-traditional financial solutions will be critical. As traditional financial flows face disruption, the demand for agile, resilient infrastructure will see higher demand.”

Payments and crypto lead the investment charge

Investments were overwhelmingly concentrated in three key verticals, which accounted for the lion’s share of the total deal size: payments, cryptocurrency (digital assets), and AI and machine learning (AI & ML).

In terms of deal values, payments ranked number one in Singapore, attracting US$474.66 million, followed by crypto (US$254.10 million) and AI & ML (US$234.50 million).

While deals in the payments vertical were spread equally across early and late stages, both the cryptocurrency and AI & machine learning verticals predominantly saw early-stage deals.

Fintech vertical	Singapore deal size	Singapore ranking
Payments	US$474.66 million	#1
Crypto	US$254.10 million	#2
AI & ML deals	US$234.50 million	#3

Payments sector sees 8x surge driven by cross-border focus

The payments sector in the island nation saw explosive growth, climbing to US$475 million in the first half of 2025. This represents an almost 8x increase from the investment levels recorded in H2 2024.

This acceleration was anchored by mega-deals, including Airwallex’s US$301 million raise, solidifying Singapore’s role as a regional epicentre for digital payments innovation. Analysis of the deal records shows that the top three deals targeted companies focused on cross-border payment solutions.

Ruddenklau noted that Singapore’s fintech firms are “capitalising on the demand for agile, interoperable payment platforms that can navigate tariff-induced complexities.”

This trend highlights a growing investor appetite for infrastructure that facilitates real-time, cross-border retail and commercial transactions. Investors are prioritising scalable, tech-enabled platforms capable of managing the complexities inherent in international payments, such as compliance, currency conversion, and settlement speed.

Digital assets lead deal volume; AI surpasses past records

Despite a slight dip in deal volume (48 deals in H1 2025, down from 53 in H2 2024), Singapore’s digital assets and currencies sector led all fintech verticals in the number of deals recorded. The sector’s US$254.1 million in investments underscored its resilience and investor appeal.

Notable deals in this vertical include the US$30 million raises secured by protocol provider Giants Planet and blockchain intelligence and tooling platform Coinseeker.co. This suggests an emerging trend where institutional stakeholders drive demand for regulated financial services and infrastructure that offer scalability and real-world utility. The focus is shifting towards enterprise-grade solutions that integrate smoothly with traditional financial systems.

Meanwhile, the AI-powered fintech sector reached a new high, attracting US$234.5 million across 22 deals, surpassing previous investment records seen in both 2023 and 2024.

Also Read: Why embedded finance is critical to Southeast Asia’s digital future

Many of these investments were channelled into business productivity tools and financial software, reflecting strong demand for AI solutions that enhance operational efficiency and support broader digital transformation. Globally, AI is also trending well ahead of 2024 investment levels, securing US$7.2 billion at mid-year.

KPMG anticipates that this momentum will continue, with expectations of more hyper-personalised financial services driven by AI, tailoring products to user behaviour. Regulatory technology (RegTech) powered by AI is also set for expansion, streamlining compliance and risk management within increasingly complex financial environments.

Globally, investors are backing startups driving efficiency through generative AI (GenAI) and agentic AI, positioning them to “command premium valuations and significant investment,” according to KPMG.

The post Fintech rebound: Singapore bags US$1.04B, outpaces global peers appeared first on e27.

Singapore Polytechnic (SP) has awarded SGD28,000 (US$22,000) seed funding to 16 student-led startups following its annual SP Batey Challenge and SP Entrepreneurship Hackathon.

The 16 winning teams secured the funding alongside crucial mentorship and incubation support.

The funding injection follows an event in which more than 300 students across eight SP schools formed trans-disciplinary teams to develop commercially viable solutions to real-world issues, including senior care, social connection, and sustainability.

Also Read: #StudentsSpeakonAI: High usage, low understanding—The double-edged sword of AI in education

Industry leaders serving as judges, including Cindy Ngiam (Director, Enterprise Singapore), Terence Wong (CEO, Azure Capital), and Thaddeus Koh (Co-founder, e27), praised the quality and potential of the student innovations.

“I’m impressed by the quality and innovation demonstrated by the students from SP. Many of their solutions show strong potential for commercial viability,” said Terence Wong, CEO of Azure Capital.

Grand prize winners focus on ageing and sustainability

The competition saw two startups clinch the grand prize for their innovative approaches:

• Rehabify: A gamified physiotherapy platform that brings fun, AI-powered, camera-tracked motion games to seniors, making rehabilitation engaging, accessible, and equipment-free. Rehabify was co-founded by Lim Jian Ping, Macam Rafael, Reyes Ng Chong Guan, Kuek Guan Jie Gabriel, and Dominic Chan Shoon Ee.
• SnapRent: A C2C rental marketplace co-founded by Leng Zong Shun and Ebenezer Tay. The platform allows users to rent or lend items–ranging from party gear to power tools–encouraging affordability, convenience, and sustainability.

Diverse solutions across health, gaming, and foodtech

Beyond the grand prize winners, other awardees developed solutions ranging from AI tools for veterinary science to specialised board games for mental well-being.

Gold awardees:

• Broby: An AI tool created by Kuramochi Hyuga and Caleb Yap Keane Yang, designed to help vets cut down on administrative work.
• Just Fun Kreations: An indie studio founded by Lucas Aw Kuang Jie, Lucius Aw Kuang Hao, Dexter Yeo Jing Chen, and Shawn Leong Wai Hung, currently developing a cosy fantasy guild-management game.

Silver awardees:

• Bucha Scoops: Kombucha sorbet developed by Crystal Chew Xin Yu, Jade Jasman, and Tee En Xin, targeting the health-conscious consumer.
• Harmonics: Board games devised by Sir Ludvig Kong Yeow Onn, Castillo Jennelle Monica Taboy, Phaedra Nah, Stephen Fiona Roshni, and Tan Javen, specifically designed to spark conversations and connections.
• Memoity: A board game for seniors in the pre-dementia stage, founded by Krish Kamal, Kuganeshwaran S/O Thiagarajen, and Ryan Chow Hiu Fung.

Bronze awardees:

• EatAway: An AI-powered food discovery and ordering app that aims to make healthy eating easy, founded by Jotham Lim Jia An, Cayden Kow Kai Jun, Pablo Letchemee Sanz, Jerrel Tan Yong Meng, and Chan Zhi Xuan Justin.

SP startups achieve global recognition

The success of the current cohort follows a strong track record of SP startups gaining international acclaim and significant investment.

Recent achievements highlight the global reach of SP’s entrepreneurial ecosystem:

Also Read: Student behaviour has changed, perhaps forever: A global shift in education with AI

Eight SP teams, including Rehabify and Harmonics, previously raised over SGD190,000 (US$147,000) through the Youth Action Challenge (Season 6).

EatAway clinched the NUS HumanITy Prize 2025, and Memoity won RHBHacks 2025.

Past SP Batey Challenge winners continue to make headlines on the global stage, securing significant US dollar funding and recognition.

Stick’Em (Grand prize 2022): This startup, founded by Chong Ing Kai, Tew Jing An, Aida Sevilla, Chong Kai Jie, and Huh Dam Adam, uses 3D-printed geometric connectors, disposable wooden chopsticks, and a simple plug & play electronics kit to make STEAM education affordable and accessible to disadvantaged children in Singapore and Southeast Asia. Stick’Em won the 2025 Hult Prize in London, known as the “Nobel Prize for student startups,” which provides US$1 million in seed funding. The team was also named in the Forbes 30 Under 30 Asia 2025 list.

Digi-Up! (Gold 2024): Founded by Al Hong, Charlotte Wong, Mulupuri Sruti, and Li Yiteng Elton, Digi-Up! uses gamified solutions to bridge the gap between seniors and our fast-paced digital nation, focusing on digital inclusion. Digi-Up! was crowned Global Champion at the 2025 Youth Innovation Expo in Osaka.

Neural Drive (Grand Prize 2024): This team, comprising Mohammed Khambhati, Raymond Loong Ng, Thirumaran Kaushik Manian, and Nyan Lin Htun, develops a non-invasive brain-computer interface that translates thoughts into readable signals, making independence affordable for people with disabilities. Neural Drive was selected for the Battlefield 200 at TechCrunch Disrupt 2025 in San Francisco, one of the world’s most competitive arenas for early-stage startups, where they will vie for the US$100,000 prize.

Winning teams from the current cohort will showcase their creative solutions at the Singapore Polytechnic Pavilion during SWITCH (Singapore Week of Innovation & Technology) from 29 to 31 October 2025.

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