Pave Bank, a fully licensed commercial bank built for programmable and regulated digital finance, has raised over US$39 million in fresh funding led by Accel, bringing its total funding to over US$44 million.

Tether Investments, Quona Capital, Wintermute, Helios Digital Ventures, Financial Technology Partners, Yolo Investments, Kazea Fund, and GC&H Investments also joined the round.

Pave Bank will use the money to expand its regulatory coverage, accelerate product development, and deepen its institutional-grade infrastructure across global markets.

Also Read: ‘Programmable bank’ Pave Bank launches with US$5.2M seed funding

It also plans to expand its licensing footprint, roll out programmable treasury products, and integrate more deeply with financial and digital asset ecosystems.

Pave Bank was started by banking executives-turned-fintech operators Salim Dhanani (CEO), Simon Vans-Colina (CTO), and Dmitry Bocharov (COO) with a US$5.2 million seed funding in 2023.

The fintech startup aims to reimagine how a bank is built, how it operates and how businesses interact with their bank. With the future of banking rooted in the convergence of traditional finance and digital assets, Pave Bank is building a new operating system or layer for how money or assets are linked globally.

Its unified platform offers commercial banking services—including deposit accounts, payments, FX liquidity, card issuance, and treasury management—alongside digital asset custody, instant settlement, and OTC trading under a single regulatory and compliance framework.

“The global financial system is moving towards regulated on-chain finance, and institutions need a trusted bridge between the old and the new,” said Salim Dhanani, co-founder and CEO of Pave Bank. “We have built a multi-asset bank that merges the stability and prudential oversight of traditional finance with the automation, speed, and intelligence of digital assets.”

A bank built for the new financial architecture

Pave Bank’s clients can manage fiat and digital assets in real time, automate treasury operations, and reduce dependency on intermediaries. For the corporate world, the platform enables the secure use of stablecoins and the integration of digital assets within their treasury systems, improving speed, control, and cost efficiency.

The company claims it has achieved profitability in seven of its first nine months of operation. With a workforce of just over fifty, Pave Bank credits its lean operating model to automation and AI-driven processes across engineering, compliance, and treasury functions.

“The companies we serve are large, sophisticated institutions operating across markets,” Dhanani added. “They expect their bank to be as fast and adaptive as the technology companies they partner with, but with the security and oversight of a regulated financial institution. That’s the gap we’re closing.”

“As digital assets become an integral part of the global financial ecosystem, there is a strong need for a well-regulated, full-reserve approach to banking at the intersection of fiat and digital assets,” said Rachit Parekh, Partner at Accel. “Pave Bank is at the forefront of this fundamental shift in how financial infrastructure operates.”

Also Read: Blurring the Lines: The convergence of traditional finance and crypto

Ganesh Rengaswamy of Quona Capital added: “By powering mainstream fintechs and digital platforms through its programmable banking infrastructure, Pave is leading the new age transformation in financial services. Its full-reserve, programmable model could catalyse wider adoption of stablecoins and deepen financial inclusion across markets.”

Pave Bank operates under a banking licence issued by the National Bank of Georgia. Its holding company is based in Singapore, and a representative office is in London. The firm is also expanding its presence to the UAE, the US, Hong Kong, and the European Economic Area.

The post Pave Bank secures over US$39M to redefine banking for the on-chain era appeared first on e27.

Vietnam has emerged as Southeast Asia’s most optimistic e-commerce market, even as it grapples with the region’s toughest regulatory landscape. A new report by Singapore-based Blackbox Research, “The Next Leap for E-Commerce in Southeast Asia,” reveals that 85 per cent of industry experts are confident in Vietnam’s long-term digital commerce prospects. This is despite 69 per cent citing compliance challenges, particularly tax reforms, as significant short-term hurdles.

This paradox of high optimism amid regulatory strain positions Vietnam not only as a resilient digital economy but also as a potential blueprint for broader ASEAN e-commerce integration.

According to the report, experts ranked Vietnam highest in logistics infrastructure (84 per cent), platform competitiveness (77 per cent), and buyer experience innovation (70 per cent). This performance is driven by tech-savvy sellers, agile entrepreneurs, and a maturing e-commerce platform landscape.

However, these strengths are undercut by regulatory rigidity. Only 39 per cent of experts view Vietnam’s regulatory environment as competitive, highlighting a gap between business innovation and policy adaptation. The report attributes much of the strain to the recent implementation of VAT withholding requirements, which disproportionately affect MSMEs that are unprepared for compliance complexity.

The country’s challenges are a microcosm of regional obstacles. Nearly half (48 per cent) of regional experts cite regulatory fragmentation—overlapping, inconsistent rules—as the most significant barrier to Southeast Asia’s e-commerce expansion. High logistics costs and limited MSME digital capacity also rank as significant concerns.

Also Read: AI adoption in SEA e-commerce: The clock is ticking for sellers

Vietnam’s urban-rural delivery gap, with 80 per cent of e-commerce revenues concentrated in Hanoi and Ho Chi Minh City, exemplifies the broader inclusion challenge. Solving this requires extending infrastructure investment and digital capability-building across provinces. Experts call for multi-stakeholder collaboration, with 57 per cent deeming public-private co-investment as essential.

Smarter regulation is another lever. Suggestions include streamlining tax processes, piloting regulatory sandboxes, and embedding evidence-led policymaking to encourage innovation while maintaining trust.

The report underscores the opportunity to transform platforms into “e-Distributors” or intermediaries that provide sellers with access to consumers and tools for compliance, logistics, and payments. With 85 per cent of experts supporting this model, the onus is on platforms to evolve beyond marketplaces into full-service digital enablers.

David Black, CEO of Blackbox Research, described Vietnam’s situation as “remarkable resilience.” He notes, “This paradox—high optimism contrasted with significant regulatory friction—isn’t just happening in Vietnam but across Southeast Asia too. It proves the entrepreneurial spirit is strong in the region, but it needs a better framework to truly thrive.”

—

Image Credit: Tran Phu on Unsplash

The post Vietnam leads SEA in e-commerce optimism despite regulatory frictions appeared first on e27.

The alarming statistic that approximately 90 per cent of startups fail is well-known in the entrepreneurial world.

While running out of cash is often cited as the immediate cause of death, a new white paper titled “The Corporate Venture Valley of Death,” co-authored by Wright Partners and MING Labs (WPML), argues that this financial shortfall is merely a symptom of deeper, systemic underlying issues. The report details the dangers lurking in flawed venture design, misaligned teams, and insufficient adaptability.

The true killer: Lack of market need

“Valley of Death” is defined as the critical gap where a venture runs out of early funding before achieving sustainable traction or securing follow-on investment. While three common definitions exist—the funding gap, the cash burn gap, and the research-to-commercialisation gap—they all point to a period of acute financial vulnerability.

Also Read: Why startups fail: Lessons from immigrant entrepreneurs who beat the odds

However, simply injecting more money is rarely the solution, as many failing ventures suffer from fundamental business flaws that cash cannot fix, such as weak product-market fit or unclear customer value.

Crucially, research indicates that the number one cause of startup failure is a lack of market need for the offering, accounting for 42 per cent of failures–a rate higher than running out of cash or internal team issues.

The WPML authors emphasise that many ventures are poorly conceived from the start, acting as a “solution in search of a problem” or relying on untested assumptions. This foundational error typically stems from a rushed or superficial design phase, where founders settle for a shallow “paper validation” without rigorously testing whether customers genuinely struggle with a problem and are willing to pay for a solution.

The authors, drawing on their hands-on experience, stress that a viable venture must solve an “acute” customer problem–one that unlocks significant tangible value–either by saving or earning the customer a substantial amount of money or time. They have seen numerous ideas with surface appeal, such as an ESG reporting tool for banks or a biomass trading marketplace, fail because deep analysis revealed the pain point was not significant enough to translate early interest into a scalable business model.

The trap of hype and easy money

The tendency for ventures to chase trends rather than pinpointing genuine customer pain exacerbates this issue. During periods of “easy money,” like the boom that preceded the 2022/2023 tech downturn, startups formed around hype cycles–whether it was crypto or generative AI--often obtaining initial funding easily because investors feared missing out on “the next big thing”. However, when the funding tide recedes, these hype-driven companies, lacking a sustainable business model beyond buzzwords, hit the Valley of Death hard.

To combat this, the white paper outlines a rigorous approach during the concept Design stage: actively seeking out potential failure points, attempting to disprove the concept, and finding holes, uninterested customers, or cheaper existing alternatives. The ultimate antidote to the Valley of Death is deemed to be early and consistent revenue generation.

The twin pitfalls: Wrong team and rigidity

Beyond flawed design, the report identifies the wrong founding team and insufficient adaptability as primary failure drivers. A great idea can falter without the right people and incentives. Moreover, even ventures with strong concepts and teams often fail because they lack the ability to pivot when the market inevitably shifts.

The venture landscape is constantly changing due to economic shifts, new competitors, and unexpected crises. Small ventures are particularly sensitive to these changes, as they lack large companies’ diversified business lines and financial reserves. A startup must be able to adjust its model quickly in response to new information or external shocks.

The recommended playbook for survival emphasises two core principles:

• Sell first, build later: Prioritise early revenue, using minimal solutions that customers will pay for, thereby proving the attainability of cash flow and extending the runway.
• Run pilots early and iterate fast: Allocate budget to testing assumptions in vivo and utilising the “scientific method of venture building” to gather real feedback on pricing, demand, and usability, quickly refining product-market fit.

Also Read: The business looked healthy – until I asked this one question

In conclusion, the 90 per cent failure rate is not a curse, but a reflection of preventable, foundational errors. For corporate executives and entrepreneurs alike, avoiding the Valley of Death means embracing a rigorous Design Phase and demanding honest validation before significant resources are committed.

By focusing on a monetisable customer pain and pushing for early sales, ventures can build the resilience needed to survive the difficult early growth phase.

The post Cash isn’t the problem: The hidden traps that kill 90 per cent of startups appeared first on e27.

The global landscape is shifting amid increased uncertainty that is influenced by geopolitical tensions, shifting trade policies and rapid advancements in technologies such as artificial intelligence.

It is important for Southeast Asia to understand these trends to navigate the uncertainty and discover opportunities in this rapidly evolving business environment. While there are challenges, there are also opportunities for the region to strengthen its position and drive sustainable growth.

Here are key global trends and their possible impact on the Southeast Asian ecosystem in 2025.

Trade-offs of Trump’s tariffs

Since returning to office, President Trump has introduced protectionist or “America First” trade policies that could disrupt global supply chains. For instance, President Trump signed executive orders on 1 February to impose tariffs on Canada, Mexico, and China which raised concerns over inflation and production costs.

This poses significant risk to Southeast Asia, a region that is heavily reliant on exports. U.S. goods exports to ASEAN reached US$124.6 billion in 2024, an increase of 16.6 per cent from 2023. While these measures could increase costs for businesses dependent on international supply chains, they may also drive production to Southeast Asia as companies seek alternatives due to tariffs on China.

Although some industries such as electronics and manufacturing might be impacted due to rising costs and fluctuating demands, the region can benefit from a reconfiguration of global supply chains.

Southeast Asian countries such as Vietnam and Indonesia are focused on strengthening their manufacturing sectors with investor-friendly policies, and will likely benefit from new capital inflows and business relocations. This could further boost industrial growth and create new job opportunities in the region.

Also Read: Wall Street’s reckoning: How Trump’s words sparked a global sell-off

The Federal Reserve’s monetary policy and how it will shape the region

The US Federal Reserve’s monetary policy is another factor that could affect Southeast Asia. While interest rates have remained steady at 4.25 per cent to 4.50 per cent, there is increasing uncertainty due to concerns surrounding the Federal Reserve’s stance on future rate hikes or cuts as well as ongoing geopolitical tensions.

Higher interest rates could post a threat to both emerging markets and developing economies (EMDEs) in Southeast Asia. However, it does not specify which countries fall under each category. According to the World Bank, an increase in U.S.interest rates, especially driven by shifts by the Federal Reserve’s stance, will have an adverse impact on financial conditions in emerging markets and developing economies.

An extended period of high interest rates could slow down regional growth by limiting business expansion and reduce investors’ interest in riskier assets such as venture capital and private equity investments. These assets are sensitive to interest rate movements as higher borrowing costs make acquisitions and funding rounds more expensive and that leads to lower valuations and reduced potential returns.

Such movements may result in a slowdown in investment activities in the region. Conversely, if interest rates go down, Southeast Asia could see a return in investments which will enhance the region’s competitiveness and long-term economic resilience.

The movement in interest rates also impacts retail investors in addition to institutional investors.  Investors in Southeast Asia need to stay informed of shifting interest rates and the impact on their investment strategies as different equities react differently to interest rate movements.

Also Read: Global markets in flux: Trump’s tariff pause and bitcoin reserve shake sentiment

For instance, dividend stocks tend to be more attractive when rates are stable as they offer steady cash flow, while growth stocks benefit from less volatility in borrowing costs that allow companies to resume long-term investments. Growth stocks could see a rise if the Federal Reserve cuts interest rates later. However, if interest rates are sticky and rate hikes return, growth stocks could experience headwinds.

A shift in AI narrative

AI will continue to be a major trend in 2025, with new AI advancements transforming the industry. The  initial AI rally was led by hardware companies such as NVIDIA as companies relied on their high-performance chips to power advanced AI systems. However, as AI adoption continues to rise, the focus has started to pivot to software driven solutions.

Palantir exemplifies this trend and has emerged as a leader in operational AI decision-making tools. The company helps enterprises process their data and turn them into actionable insights to improve decision making and enhance operational efficiency.

The next phase of AI will focus on companies, like Palantir, Snowflake and Marvell, which are driving AI adoption through data utilisation, enterprise integration, and scalable revenue models.

Simultaneously, competition in the industry is ramping up and driving greater innovation as companies find ways to make AI more scalable in key areas such as cloud computing, cybersecurity, healthcare, and generative AI.

This presents new opportunities for companies in Southeast Asia to leverage AI to automate their processes, boost their operational efficiency and improve decision-making to fuel business growth. The shift from AI hardware to software underpins the growing realisation that AI’s true potential lies in its application across industries, not just in the hardware powering it.

These global trends will continue to shape Southeast Asia’s business landscape in 2025 and beyond. The region’s ability to navigate shifting trade policies and the pivot from AI hardware to software will be crucial in defining its trajectory and performance in the global economy. Southeast Asia can drive its next wave of growth by staying agile and intentionally capitalising on these trends.

—

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.

Join us on Instagram, Facebook, X, and LinkedIn to stay connected.

Image courtesy: DALL-E

The post Navigating global trends for Southeast Asia’s ecosystem in 2025 appeared first on e27.

In an era of persistent inflation, geopolitical uncertainty, and shifting monetary policies, a new financial landscape is emerging. Cryptocurrency, once dismissed as a fringe experiment, is now positioned as a powerful tool for economic resilience and innovation. While headlines often focus on price swings, the real story is how digital assets are providing tangible solutions to the weaknesses of our current system.

Let’s explore the powerful role crypto is playing in today’s economy.

The pillars of promise: Crypto’s economic advantages

• A modern hedge against inflation

With central banks around the world engaging in significant money printing, fears of currency devaluation are real. Bitcoin, with its fixed supply of 21 million coins, was architecturally designed as a direct response to this. This verifiable scarcity positions it as “digital gold” for the modern era — a decentralised asset that can help preserve purchasing power, offering an alternative to traditional safe havens.

• Financial sovereignty and inclusion

The current global economy highlights the risks of centralised control. Cryptocurrencies operate on borderless, censorship-resistant networks. This isn’t just a technological feature; it’s a paradigm shift. For millions in countries suffering from hyperinflation or restrictive capital controls, crypto provides a viable lifeline — a way to secure wealth, send remittances cheaply, and participate in the global economy on their own terms.

• Unlocking new avenues for growth

The search for yield in a fluctuating interest rate environment remains fierce. The ecosystem of Decentralised Finance (DeFi) offers a compelling alternative. Through secure processes like staking and liquidity provisioning, individuals can actively earn yield on their digital assets, fostering a new model of economic participation that moves beyond traditional banking.

• The engine of Web3

Beyond finance, blockchain technology is the foundation for the next evolution of the internet, known as Web3. This represents a future with creator-owned economies (powered by NFTs), transparent supply chains, and user-controlled digital identity. Investing in the crypto space is, in many ways, an investment in the foundational layer of this more open and equitable digital world.

Also Read: CPI countdown: How Friday’s inflation data could make or break the crypto rally

A balanced perspective: Acknowledging the journey

It’s important to acknowledge that the market is maturing. Currently, crypto assets often move in correlation with tech stocks, reacting to broader macroeconomic trends like interest rate hikes. This “risk-on” behavior shows an asset class still finding its independent footing amidst traditional markets.

Furthermore, the path to mainstream adoption is being paved with necessary regulatory frameworks and continued technological scaling to improve user experience. These are not roadblocks, but signposts on the road to maturation.

Looking forward: A pragmatic and optimistic outlook

For those looking to engage with this dynamic space, a strategic approach is key:

• Focus on the long-term vision: Look beyond short-term volatility to the long-term trajectory of technological integration and adoption.
• Prioritise education: Understand the fundamentals — from Bitcoin’s monetary policy to the utility of smart contracts. Knowledge is your most valuable asset.
• Diversify thoughtfully: Consider crypto as a growth-oriented component within a diversified portfolio, aligned with your personal risk tolerance.

The bottom line

Cryptocurrency has firmly transitioned from a conceptual experiment to a formidable force in the global economy. It offers a powerful set of tools for those seeking alternatives: a potential store of value, a gateway to financial inclusion, and a stake in the future of the internet.

While the journey involves volatility and evolution, the underlying trend is one of relentless growth and increasing utility. For forward-thinking individuals and institutions, understanding crypto is no longer optional — it’s essential for navigating the future of finance.

—

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.

Enjoyed this read? Don’t miss out on the next insight. Join our WhatsApp channel for real-time drops.

Image courtesy: Canva

The post Beyond the volatility: How crypto is building a stronger financial future appeared first on e27.