For early-stage climate x health ventures in Asia, the most significant obstacle is often not a shortage of ideas, but a severe ‘missing-middle’ financing gap.

This gap refers to the critical ticket-size vacuum between small philanthropic grants, which rarely exceed US$500,000, and standard Series A rounds, which usually start at US$5 million. Few specialised funds exist to provide the US$1 million to US$3 million bridge financing needed to transition promising solutions from the pilot stage to scalable readiness.

Also Read: Asia’s climate-health crisis deepens amid massive funding gaps

According to the ‘Unlocking Capital For Climate x Health: The Investment Landscape in Asia’ report by AVPN and Prudence Foundation, this gap is amplified by the unique complexities climate x health startups face. Unlike mainstream tech ventures, solutions operating at this nexus often deal with slow public-system readiness, unclear monetisation pathways, and policy ambiguity, making traditional VC returns harder to benchmark.

Catalytic capital as a de-risking agent

The solution strategically uses catalytic capital, which means flexible, early-stage funding that includes recoverable grants, first-loss equity, and milestone-tied capital. When deployed strategically, this capital is essential for derisking early innovation and signalling credibility, triggering a ‘crowd-in’ effect from commercial investors.

Catalytic capital’s functions extend beyond simple financing. It is crucial for:

• Building enabling infrastructure: Establishing accelerators, open data platforms, and technical assistance facilities.
• Navigating regulatory hurdles: Offering regulatory navigation, institutional matchmaking, and policy alignment to move solutions from experimentation to procurement.
• Structured pathways to scale: Providing the necessary support for business model validation, unit economics testing, evidence generation, and procurement readiness.

Flexible financial instruments gain traction

Investors are increasingly turning to flexible instruments to better align capital expectations with the realities of climate x health ventures, which often operate with hybrid revenue models and unpredictable scale curves.

• Milestone-based equity: Equity is disbursed in tranches tied to clear milestones, such as policy integration, revenue targets, or post-pilot uptake. This offers investor protection while enabling early derisking.
• Revenue-linked capital: This structure allows investors to recover capital as a fixed revenue share instead of demanding immediate equity dilution. This is ideal for ventures with slower growth or service-heavy delivery models, such as decentralised cooling or diagnostic logistics.
• Venture debt and private credit: For asset-heavy but cash-generating models, such as modular health clinics or cold-chain infrastructure, short-tenor, low-collateral debt is more appropriate than equity.

The role of multilateral development banks (MDBs) and development financial institutions (DFIs) is critical here. Their contributions focus on derisking mechanisms and the development of investment-ready ecosystems.

The Asian Development Bank’s (ADB) Innovative Finance Facility for Climate in Asia and the Pacific (IFCAP), for example, attracts private capital by lowering risk, thereby enabling investment in health-linked adaptation solutions like resilient infrastructure and cooling technologies.

Also Read: Climate tech’s shift from doing good to doing well

Furthermore, the World Bank requires that at least 35 per cent of its lending be climate-aligned, and nearly 60 per cent of its US$30 billion health portfolio now supports adaptation efforts.

By embracing these flexible structures and coordinated capital stacks, investors can effectively bridge the pilot-to-scale divide, turning high-impact, early-stage models into commercially viable opportunities.

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The SAFE STEPS D-Tech (Disaster Tech) initiative is a regional programme by Prudence Foundation that supports the development and deployment of innovative technology solutions to improve disaster preparedness, response, and resilience. Through the annual SAFE STEPS D-Tech Awards and Community Hub, the initiative brings together startups, NGOs, governments, investors, and humanitarian actors to co-create impactful solutions that save lives before, during, and after disaster events. By catalysing partnerships and enabling scale, D-Tech serves as a platform to turn promising ideas into real-world systems that strengthen communities across Asia and beyond.

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Small farmers in Southeast Asia face persistent challenges: low yields, limited market access, and climate risks. Yet, technology innovations are reshaping this landscape, empowering farmers to grow more, sell smarter, and adapt better to changing environments.

From struggle to smart farming

Hao Diep, CEO of TechCoop, witnesses this transformation daily in Vietnam’s agricultural heartland. Farmers who once depended solely on traditional methods now leverage digital platforms to optimise their entire value chain. What was once a fragmented system of isolated smallholders has evolved into an interconnected network where technology bridges farmers, cooperatives, and agribusinesses.

This change reflects a broader revolution across Southeast Asia. In 2024 alone, 233,250 farmers improved their livelihoods through TechCoop’s platform by gaining increased market access and input financing. Agriculture remains the backbone of rural economies in this region — these numbers represent families lifted out of poverty and communities gaining resilience.

Breaking down barriers with digital innovation

The mobile revolution in Southeast Asian agriculture is fundamentally about solving real problems for real people. TNB Aura’s portfolio provides examples of how investors are supporting businesses that address core challenges in the agricultural sector.

For example, AgriAku, operating across Indonesia, partnered with 8,170 farmers in 2024, transforming how smallholders access agricultural products and manage supply chains. Their impact goes beyond scale — AgriAku has registered two agri-biological products aimed at regenerating soil and reducing synthetic fertiliser use while implementing irrigation systems that improve water efficiency and rice productivity. This shows how targeted innovation can address pressing agricultural issues, rather than deploying technology for its own sake.

Smart solutions, sustainable impact

The adoption of IoT tools and smart sensors across Southeast Asia aligns with TNB Aura’s thesis that emerging economies can take advantage of technology to bypass traditional development stages. In Indonesia, Eratani offers a comprehensive platform enabling farmers to procure inputs, access financing, and sell products efficiently.

These platforms don’t just digitise existing processes; they reimagine them entirely. According to TNB Aura, more than 209,000 small-scale enterprises across its portfolio have been integrated into digital ecosystems, shifting from isolated operations to being part of larger value chains.

Also Read: From pilot to scale: Why traditional VC metrics don’t work for climate deep tech

Opening digital marketplaces

Digital marketplaces are disrupting traditional agricultural value chains across Southeast Asia. TNB Aura’s research highlights that Indonesia, the Philippines, and Vietnam face significant development gaps but also hold substantial growth potential. Only 43 per cent of adults in these countries have bank accounts, making digital financial inclusion through agri-platforms especially transformative.

TechCoop is one example. Its MOU with Sorimachi supports cooperatives in Vietnam with access to technology, commerce, and finance — a step toward building infrastructure that TNB Aura sees as critical for long-term agricultural development.

The ripple effects extend beyond individual transactions. When farmers gain access to digital marketplaces, they join ecosystems enabling “better access to new technology, financial services, and market integration opportunities,” particularly in tier 2 and 3 cities that face developmental challenges.

Climate resilience through technology

Climate change poses Southeast Asia’s greatest challenge — and biggest opportunity for tech-driven solutions. TNB Aura estimates a US$~1.49 trillion investment gap in regional decarbonisation efforts, viewing climate adaptation as both a necessity and an opportunity.

AgriAku’s bio-fertiliser products, considered among the safest alternatives to chemical fertilisers, boost productivity while promoting environmental sustainability. This aligns with TNB Aura’s Fund 3 focus, where about 40 per cent of commitments are directed toward decarbonisation and climate resilience.

Focusing on climate-smart agriculture reflects TNB Aura’s understanding that “the climate crisis threatens to set back development efforts, including progress on the SDGs.” By backing companies that help farmers adapt while reducing environmental impact, TNB Aura creates a “flywheel of innovation, growth, and impact.”

Also Read: Soil, smoke, and solutions: Farming meets climate action

Community-wide transformation

The broader impact of agricultural technology is evident in TNB Aura’s portfolio-wide metrics. The firm reports that 84 per cent of its workforce operates in OECD ODA-eligible countries, with 60 per cent of portfolio employees being women — indicators that reflect how agricultural technology businesses can contribute to inclusive employment.

TechCoop’s CEO Hao Diep notes that despite recent market uncertainties, inbound equity interest remains strong: “The sour investment climate has not affected investor interest, as businesses solve fundamental problems rather than chasing trends.”

Across TNB Aura’s Fund 2 and Fund 3 companies, five million individual beneficiaries represent communities where technology is driving lasting change. These are not just platform users, but participants in restructured economic systems with improved access to goods and services.

Following the flywheel

TNB Aura’s approach to agricultural technology reflects a broader investment philosophy: identifying tomorrow’s tech champions by integrating global precedent research with regional sustainability challenges.

To date, the firm has analysed more than 660 precedent business models, informing 24 investments across three funds, with agricultural technology serving as a core focus. As David Bonifacio, Managing Partner and Lead for Value Creation, explains: “Value creation at TNB Aura focuses on laying foundations, applying management best practices, and developing strategic initiatives to build dynamic organisations and strengthen our right to win.”

This systematic approach creates a flywheel effect: data-led insights inform backing the best companies, institutionalising growth, and unlocking the next innovation wave. Each successful agricultural tech solution creates resources and knowledge that fuel further impact.

Also Read: Eco-investing: Driving change through climate technology and strategic finance

Looking to 2025 and beyond

TNB Aura’s commitment to agricultural transformation is intensifying. The firm has stated that it aims to direct over 90 per cent of Fund 3 capital to OECD ODA-eligible countries, with particular emphasis on Indonesia, the Philippines, and Vietnam, which it views as high-potential markets for growth and SDG impact.

As Hao Diep reflects on TechCoop’s approach: “We prioritise scalable impact, empowering cooperatives and agri-SMEs with digital solutions to optimise production and facilitate supply chain partnerships, even if short-term profitability requires compromise.”

This long-term perspective underscores TNB Aura’s central belief: sustainable growth and meaningful community impact are two sides of the same coin. In Southeast Asian agriculture, technology isn’t just changing how farmers work; it’s reshaping entire communities and laying the foundation for a more resilient, prosperous future.

The transformation is underway. The real question is how quickly entrepreneurs, investors, and policymakers can scale solutions already proving their worth across the region’s fields.

Disclaimer: The views, opinions, and analyses expressed herein are solely my own and do not necessarily reflect those of TNB Aura, its affiliates, partners, or representatives. Any observations shared are based on my personal perspective and professional experience working at TNB Aura and should not be construed as official statements, positions, or endorsements of the firm.

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Asia’s climate-health crisis is no longer a looming threat; it’s a lived reality. As the region grapples with record-breaking heatwaves, floods, and rising disease burdens, the intersection between planetary and human health has become impossible to ignore. Yet, as the Unlocking Capital for Climate x Health report highlights, the financial response remains perilously out of sync with the scale of the problem.

The data is damning: while trillions flow into global climate finance, a mere 0.5 per cent supports health adaptation. The imbalance between mitigation and adaptation reveals a dangerous blind spot–one that leaves communities unprotected against the very impacts already unfolding.

To bridge this divide, Asia needs a reimagined investment framework that places health resilience at the centre of climate strategy. This means mobilising catalytic capital, incentivising private participation, and building blended-finance models that can unlock systemic change. The rise of innovations–from AI-driven disease monitoring to cooling solutions–shows promise, but these require patient capital to reach scale.

Ultimately, Asia’s ability to withstand the climate era depends not just on cutting emissions, but on fortifying human systems. Health must move from the sidelines of climate finance to its beating heart, where lives and livelihoods truly intersect.

REGIONAL

Iterative tops Southeast Asia VC rounds as startups raise US$1.4B:
VC investment in the regional startups hit US$1.4B in over 110 rounds in 2025, according to Tracxn. More than 200 VC firms participated, with Iterative leading 14 rounds, surpassing Antler as the region’s most active investor.

Qapita secures US$26.5M Series B, enters US with Schwab partnership: The Singaporean fintech firm builds digital infrastructure for private markets across Asia and beyond. Its full-stack digital platform and service offerings seek to transform how ownership is managed, reported, and unlocked in private market ecosystems.

SGInnovate backs Vycarb’s US$5M seed round to accelerate water-based carbon capture: Vycarb aims to accelerate commercialisation and expand its deployments globally, positioning its water-based CCS system as a critical enabler of industrial decarbonisation and a meaningful step toward a low-carbon future.

HSBC launches cross-border tokenised deposit service in Singapore: The service enables real-time, 24/7 settlement and was used by Ant for instant SGD and USD payments between corporate wallets at HSBC Singapore. In September, HSBC completed its first USD cross-border digital token transaction for Ant between Hong Kong and Singapore.

Green GSM to deploy 2,000 EVs in Philippines with local partner: It will supply the vehicles to AMRC Renewable Corporation/Xentro Motors, with the first 1,000 units already secured and the remaining to be delivered over two years. Xentro plans to use its nationwide network for pick-up zones, EV charging stations, and parking areas.

REPORTS, FEATURES & INTERVIEWS

Asia’s climate-health crisis deepens amid massive funding gaps: As per an AVPN study, climate-driven disasters resulted in US$253B in damages globally in 2021 alone, largely uninsured in low-income regions, and 470B work hours were lost due to heat-related impacts.

Transparency, accuracy and validation key to building Singapore consumers’ trust in AI agents: According to Salesforce’s latest Connected Financial Services report, 65 per cent of Singapore consumers somewhat trust AI agents in financial services, yet only 12 per cent express full confidence. 60 per cent expect AI to play a more significant role in financial services than in other industries.

Report: AI adoption fuels record growth in Singapore’s digital economy: The Singapore Digital Economy Report 2025 highlights a striking surge in AI adoption across both firms and workers in 2024. Among non-SMEs, AI adoption jumped from 44 per cent in 2023 to 62.5 per cent in 2024.

The illusion of intelligence: Why LLMs are not the thinking machines we hope for: LLMs like GPT-4 are trained on trillions of words and can generate human-like text in response to prompts. Their outputs are fluent, coherent, and at times insightful. But this is not intelligence. It is sophisticated pattern completion.

INTERNATIONAL

AI expert Yao Shunyu leaves Anthropic over anti-China stance: Yao Shunyu’s move comes as Anthropic’s position on China aligns with a broader trend among US AI firms, while DeepMind’s leadership has advocated for US-China collaboration in AI safety.

Bank of England warns of market risk from AI bubble: Its financial policy committee said equity market valuations, especially for AI-focused firms, appear stretched and could be exposed if optimism around AI dims. OpenAI’s value jumped from US$157B last October to US$500B, while Anthropic soared from US$60B in March to US$170B last month.

Musk’s xAI team reportedly worked on adult content for Grok: Grok drew criticism after launching avatars that users flagged for generating sexually explicit, not safe for work content. The company is said to have recruited workers willing to review semi-pornographic scripts and those with experience in adult content.

India’s NPCI tests ChatGPT payments with Razorpay: The new service, still in testing, lets users make purchases on ChatGPT using Unified Payments Interface (UPI), India’s digital payments network. The pilot will assess if UPI can be used to let AI agents handle payments for users while maintaining security and user control.

Citi backs stablecoin firm as US banks expand into digital assets: BVNK provides payment tech that enables businesses to transact using stablecoins. The move comes as US regulation for digital assets becomes more defined, with the recent passage of the GENIUS Act aimed at regulating stablecoins.

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ECHELON

From bean to breakthrough: Chocolate Finance’s recipe for resilience: Today, Chocolate Finance reports a steady return of customers, drawn by consistent yields and a reputation for reliability. Walter Oude, founder and CEO of Chocolate Finance, shared the company’s journey of resilience in the face of early challenges.

SEMICONDUCTOR

Chinese subsidiaries of US chip firm face sanctions over Iran ties: The US government has sanctioned over two dozen companies in China, Turkey, and the United Arab Emirates, including subsidiaries of US chip distributor Arrow Electronics, for allegedly supplying technology to Iran’s military or its proxies.

US approves some Nvidia chip exports to UAE: The approval follows an Emirati commitment to invest a matching amount in the US, with plans to invest US$1.4T over the next ten years. The initial batch of licenses does not cover G42, an AI firm from the UAE working with OpenAI, though a fifth of future shipments may go to them.

Chinese chip designer VeriSilicon’s Q3 revenue up 120 per cent on AI demand: The company said orders related to AI computing made up 65 per cent of new orders in Q3, with new order volume up 146 per cent year-on-year to nearly US$220M. VeriSilicon offers custom chip design and semiconductor IP licensing services.

AI

AI for everyone: 25 tools to automate, create, and innovate: Lovable simplifies app and website building. It’s like telling a robot what you want, and it builds the website for you. On the other hand, Napkin.ai simplifies idea mapping. You type an idea, and it draws the flowchart for you.

‘AI sees deep into your business, not just the surface’: NetSuite’s Evan Goldberg: “Transactions are the ‘atomic unit of business’,” he said, giving AI a clean, consistent starting point. “AI doesn’t just guess; it starts from the source because your data is unified. AI understands your full context… it sees deep into your business, not just the surface,”

How voice AI is revolutionising the fintech scene
Conversational technology offers the possibility of interactions that are more valuable, simple, intuitive and personalised for the customer, thanks to the data collection and analysis required for conversations.

Operational AI: The silent, yet, strategic revolution shaping modern business: Renowned for its capability to craft content, spanning images, text, and even music, akin to human-generated creations, Generative AI is exemplified by technologies such as OpenAI’s GPT-3, adept at generating human-like text, and DALL-E.

AI won’t replace influence — it will amplify it: The world of influence has changed more in the last two years than in the last two decades. Speakers, creators, and founders are no longer just voices; we’re systems. And those systems now run on AI.

THOUGHT LEADERSHIP

The real story behind AI project implementation: Why it’s not (just) about technology: There’s a cruel irony in many AI initiatives: the executives demanding “AI transformation NOW!” are often the furthest from the daily operational inefficiencies that AI could actually provide the best value.

Low-altitude economy hubs in the Indian Ocean: Nairobi, Madagascar, and Sri Lanka: In Nairobi, investors should focus on expansion county corridors, integrated e-commerce and health supply chains, and regulatory sandboxes for new payload types. Madagascar, on the other hand, focuses on heavy-lift airship cargo.

Scaling business growth and efficiency with embedded payments: Instead of managing the relationship and integration with the payments providers themselves, SMEs are now ready to use embedded payment services by their platforms – integrating payments into their full business process.

How travel apps are stirring up wanderlust among youngsters in Asia: It can be said that allowing young people to freely decide whether to travel freely or travel alone is a big contribution from convenient travel apps. Travel apps solve everything you need when travelling, and that’s why it’s more and more popular among young people.

Bridging the financial inclusion gap in Asia: The role of fintech: If fintechs are going to develop solutions that will help to narrow the bankable gap, they need to understand and meet the unique needs of Asian consumers and the commercial landscape more broadly. It also requires fintechs to be alive to the mega trends facing the region.

The future of payments is frictionless, orchestrated and agentic: A frictionless experience is one where the checkout anticipates user needs, where biometrics replace forgotten passwords, where currencies and taxes are handled seamlessly in the background, and where compliance doesn’t interrupt the flow but is embedded naturally into the journey.

Southeast Asia’s fintech can help set the standard for gender inclusion: The region makes for a promising case in female inclusion because its fintech ecosystem is still young. Unlike the more mature markets, there is still room to shape the rules of the game, set new norms.

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The past week has seen a noticeable retreat in global risk appetite, with traders and institutional investors adopting a more cautious stance ahead of the third-quarter earnings season. This consolidation phase reflects a natural pause following a strong rally in equities, with market participants reassessing valuations and positioning themselves for potential volatility once corporate earnings reports begin to roll in.

US equities closed lower on Thursday, with the Dow Jones Industrial Average shedding 0.5 per cent, the S&P 500 down 0.3 per cent, and the Nasdaq Composite slipping 0.1 per cent. These modest declines underscore a broader theme of profit-taking rather than panic selling, suggesting that the market remains fundamentally sound but increasingly selective.

Adding to the uncertainty, key US economic data releases have been disrupted by the ongoing government shutdown. Weekly jobless claims and wholesale trade figures, initially scheduled for Thursday, remain delayed, depriving analysts of timely insights into labour market resilience and inventory trends. Market attention now shifts to Friday’s release of the University of Michigan’s preliminary consumer sentiment index for October.

Given that consumer confidence often serves as a leading indicator of spending behaviour and economic momentum, this report could significantly influence near-term market direction, especially if it reveals a sharp deterioration in household outlooks amid persistent inflation concerns or rising borrowing costs.

Meanwhile, the bond market continues to reflect a nuanced outlook on monetary policy. US Treasury yields edged higher, with the benchmark 10-year yield climbing 2.1 basis points to 4.138 per cent and the two-year yield rising 1.2 basis points to 3.593 per cent. The modest uptick in yields suggests that investors are recalibrating expectations for future Federal Reserve rate cuts, possibly in response to resilient economic data or hawkish commentary from central bank officials. This dynamic places additional pressure on equities, particularly growth-oriented sectors that are sensitive to higher discount rates.

Currency and commodity markets also mirrored the prevailing risk-off mood. The US Dollar Index strengthened by 0.6 per cent to reach 99.54, benefiting from its traditional safe-haven status during periods of market caution. Conversely, gold retreated 1.6 per cent to US$3976 per ounce after briefly touching a record high.

The pullback in the precious metal appears driven by profit-taking rather than a fundamental shift in its appeal as a hedge against uncertainty. Similarly, Brent crude oil settled 1.6 per cent lower at US$65.22 per barrel, pressured by easing geopolitical tensions in the Middle East and the broader retreat from risk assets.

Also Read: Global risk-off sentiment emerges as political instability meets cryptocurrency correction

In Asia, equity markets displayed a mixed performance. The Chinese CSI 300 index surged 1.48 per cent on Thursday, its first trading day following the week-long National Day holiday. The rally was led by sectors tied to artificial intelligence and gold, reflecting both domestic policy optimism and global commodity trends.

However, early trading sessions on Friday showed more subdued activity, indicating that the initial post-holiday euphoria may be giving way to more cautious positioning. Notably, US equity index futures point to a higher open on Wall Street, suggesting that the recent dip may have created attractive entry points for bargain hunters.

Amid this backdrop, Bitcoin has emerged as a focal point of intense speculation and technical scrutiny. The cryptocurrency is currently trading above US$121,000, yet it faces mounting bearish pressure that could trigger a test of critical support levels. On Thursday, Bitcoin briefly dipped below the psychologically important US$120,000 mark, reaching an intraday low of US$119,810 before recovering slightly. This move, which represented a nearly three per cent decline in a single session, highlights the asset’s vulnerability despite its lofty valuation. Technical indicators reinforce this cautionary tone.

The hourly chart reveals a developing bearish trend line, with resistance forming around US$122,750. Bitcoin now trades below both the US$121,500 level and its 100-hour Simple Moving Average, signalling weakening short-term momentum. Immediate resistance sits at US$121,750, while the hourly MACD shows increasing strength in negative territory and the RSI has fallen below the pivotal 50 level, both classic signs of bearish dominance.

The derivatives market further underscores this fragile sentiment. Total derivatives volume plummeted by 15.24 per cent to US$478.15 trillion, while open interest in perpetual contracts declined by 1.29 per cent. This contraction coincided with Bitcoin’s drop below US$124,000 and triggered approximately US$700 million in liquidations.

The high leverage embedded in the system, evidenced by open interest standing at US$1.12 trillion, amplified the downside as leveraged positions were forcibly unwound. Traders appear to be reducing exposure in response to stretched technical conditions, with the 14-day RSI hovering near 69.88, just shy of overbought territory. Moreover, the spot-to-perpetuals trading ratio of 0.22 indicates that derivatives activity continues to dominate the market, rendering it especially susceptible to sharp swings and cascading liquidations.

Also Read: From Tokyo to crypto: How political shifts and policy bets are reshaping global markets

Compounding Bitcoin’s challenges, the altcoin ecosystem is experiencing its own wave of selling pressure. New token launches such as ASTER and MIRA have faced immediate post-listing declines, driven by large-scale airdrops and token unlocks. ASTER’s Phase 2 airdrop released four per cent of its total supply, prompting whales to offload 28.3 million tokens and driving the price down by 10 per cent.

Similarly, MIRA’s circulating supply surged by 191 million tokens following its Binance listing, overwhelming market demand. These events highlight a recurring pattern in the crypto space: token unlocks often lead to immediate sell-offs, particularly when projects lack robust utility or sustainable demand drivers. The Altcoin Season Index has consequently fallen by 11.76 per cent, signalling a clear rotation of capital back into Bitcoin as investors seek relative safety within the digital asset class.

Regulatory uncertainty adds another layer of complexity. In the United States, Senate negotiations on comprehensive crypto market-structure legislation have stalled, with Democratic proposals on decentralised finance (DeFi) oversight meeting resistance from Republican lawmakers. This legislative gridlock prolongs the regulatory limbo that has long plagued the industry, creating headwinds for institutional adoption and altcoin valuations.

However, there remains a counterbalancing bullish narrative. Former President Donald Trump’s recent overtures toward establishing a US strategic Bitcoin reserve have reignited speculation about potential pro-crypto policies should he return to office. While purely aspirational at this stage, such rhetoric provides a psychological floor for long-term Bitcoin bulls who view regulatory clarity, even if delayed, as inevitable.

In sum, the current market environment reflects a delicate equilibrium between optimism and caution. Equities are consolidating after a strong run, bonds are pricing in a more hawkish Fed, and commodities are reacting to shifting risk sentiment. Bitcoin, despite its record-breaking price, shows clear signs of technical fatigue and structural vulnerability.

Yet, beneath the short-term turbulence lies a persistent belief in its long-term potential, particularly if it can overcome key resistance levels and navigate the evolving regulatory landscape. For now, investors remain in a holding pattern, awaiting the next catalyst, whether from corporate earnings, economic data, or policy developments, to determine the next major market move.

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Singaporean companies are increasingly looking abroad to scale their workforce as local talent shortages persist. According to Remote’s Global Workforce Report 2025, 76 per cent of HR leaders in Singapore expect that over half of their new hires in 2026 will be based overseas, a sharp shift that signals global hiring has moved from opportunistic to strategic.

The report, released on October 9 by global HR tech firm Remote, is based on insights from more than 3,600 business leaders across 10 countries. The findings spotlight how Singapore-based companies, particularly mid-sized ones, rapidly adopt cross-border hiring to tap into new markets and talent pools.

The trend is not just speculative. In the past six months, nearly half (49 per cent) of new hires by Singapore companies were in international roles. That momentum is expected to continue, with projections that 40 per cent of new positions will be filled abroad over the next six months.

Singapore companies now employ talent in an average of three or more countries, and this number is poised to grow by 2026. With homegrown talent pipelines unable to meet demand, international expansion is no longer just about market access but about survival.

While the benefits of a global workforce are clear, managing one is proving increasingly difficult for lean HR teams. In Singapore, most HR departments have five or fewer staff, yet their responsibilities span continents and regulatory environments.

Also Read: Are you a human resource?

Key challenges flagged by respondents include managing multiple HR systems (24 per cent), misclassification risks (24 per cent), and ensuring a consistent employee experience (26 per cent). Perhaps most pressing: 66 per cent of Singapore firms report facing compliance issues when hiring abroad, with each incident costing upwards of US$36,200 on average. Additionally, 29 per cent said they’ve been unable to enter a new market due to onboarding challenges.

To cope with rising complexity, HR leaders are turning to technology. Over half (51 per cent) of Singapore HR leaders are actively seeking an all-in-one solution to manage global payroll, compliance, and reporting. The shift toward integrated platforms and AI-driven systems marks a turning point in managing global workforces.

“The first wave of technology in HR made it possible to hire globally. The next wave is transforming how those teams are managed,” said Job van der Voort, CEO and co-founder of Remote. “AI is becoming the operating system for companies’ global workforce.”

Singapore’s pivot toward international hiring is aligned with a broader trend across the Asia Pacific region. South Korea, like Singapore, shows strong momentum among mid-sized firms, while Australia lags in global hiring appetite. This divergence suggests differing levels of readiness and regulatory complexity within the region.

With Singapore positioning itself as a global business hub, its companies are leading by example in demonstrating how nimble hiring strategies and the right technology stack can enable efficient cross-border growth.

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Image Credit: Annie Spratt on Unsplash

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