Singapore has unequivocally cemented its position as the on-chain powerhouse of Asia, a comprehensive new report has found, showcasing an unwavering commitment to Web3 innovation bolstered by a proactive, albeit stringent, regulatory stance and a thriving ecosystem.

The Singapore THE ONCHAIN STATE 2025 REPORT lays bare the city-state’s ambition to participate in and lead the global decentralised revolution, even as challenges related to regulatory navigation and access to traditional financial arteries persist.

The Monetary Authority of Singapore (MAS) emerges as the central orchestrator, adopting a “strict, but fair” collaborative methodology towards the Web3 domain. This partnership is evidenced by a significant surge in digital payment token (DPT) licenses, with a combined 28 licenses granted in 2023 and 2024, a substantial leap from the mere 10 issued in 2022.

This forward-thinking regulatory environment has cultivated increasing trust among Singaporean enterprises, which is highlighted by DBS Bank’s foray into cryptocurrency options trading and structured notes for institutional investors.

Also Read: ‘The future is on-chain’: Nansen CEO on AI, staking, and new growth plans

Furthermore, data from blockchain analytics firm Chainalysis reveals a record-shattering near-US$1 billion in stablecoin payments processed within a single quarter, underscoring Singapore’s burgeoning on-chain economic activity and greater trust from institutional investors.

The pulse of crypto ownership beats stronger within Singapore, with 26 per cent of residents holding digital assets in 2024, a rise from 24.4 per cent in 2023. Notably, 73 per cent of these owners have maintained their crypto assets for over a year, signifying a maturing market geared towards long-term investment.

While Bitcoin (62 per cent) and Ethereum (43 per cent) remain dominant portfolio staples, the emergence of xSGD (6 per cent ownership) signals a growing inclination towards stablecoins pegged to the local currency. Crypto’s utility is also expanding, with 52 per cent of holders now employing it for transactions, particularly among Millennials and Gen Z for retail and bill settlements.

As Eric Barbier, CEO of Triple-A, aptly puts it, “crypto is moving beyond adoption to real-world use, shaping the future of digital payments”.

Despite the global crypto rollercoaster, Singapore’s Web3 ecosystem remains steadfastly focused on “Buidl,” with a robust 40.3 per cent of projects dedicated to infrastructure development. This strong foundational layer underpins the growth of Decentralised Finance (DeFi at 18.4 per cent) and the rapidly expanding Non-Fungible Tokens and Gaming sectors (NFTs and Gaming at 13.8 per cent).

The venture capital landscape remains a critical enabler, constituting 13.8 per cent of the ecosystem. While overall Web3 funding in Singapore trailed behind the broader fintech sector in 2023, the ratio of deals in Crypto to Fintech maintained a strong 68.12 per cent, surpassing the 2021 figure of 60 per cent. In the first half of 2024, Singapore-based Web3 companies attracted a substantial US$742 million in investments, representing 64 per cent of the capital invested in the FinTech sector during the same period.

Singapore’s allure as a global Web3 nucleus is further amplified by its dedication to nurturing talent and offering globally competitive compensation packages. An estimated 2,433 individuals are currently employed within the sector, and over 75 per cent of local Web3 enterprises have declared their intent to expand their Singapore-based teams in 2025, with 60 per cent projecting an expansion of 50 per cent or more of their existing workforce. Web3 compensation routinely surpasses national benchmarks across various roles, attracting a skilled and adaptable workforce. The strategic acquisitions of Singaporean Web3 startups – such as Jupiter’s acquisition of Solana.FM and Coinhall, and Nansen’s acquisition of StakeWithUs – serve as irrefutable validation of the local ecosystem’s maturity and global recognition.

However, the report unflinchingly highlights persistent pain points voiced by Web3 builders. These include the pressing need for greater regulatory clarity, particularly concerning the definition of digital assets, to facilitate innovation within legal boundaries.

The high cost of compliance, especially concerning the demanding and expensive process of obtaining DPT licenses, is identified as a significant barrier, particularly for smaller and newer entities. The limited access to traditional banking services remains a critical impediment, affecting 59 per cent of respondents and hindering operational stability.

Also Read: APAC’s public sector sees crypto as a vehicle for cybercrimes: Chainalysis

Furthermore, a perceived lack of tailored government support compared to other global hubs, a strong desire for more inclusive regulatory collaboration, and a call for more accessible and clearly defined sandboxing opportunities are underscored as areas requiring urgent attention.

Despite these significant headwinds, Singapore’s unwavering commitment to fostering a symbiotic relationship between the public and private sectors, coupled with its robust talent pipeline, strategic geographical advantage, and vibrant community, firmly positions it for sustained dominance in the global Web3 arena. The city-state’s proven ability to attract major international Web3 events like TOKEN2049 and Solana Breakpoint further solidifies its reputation as a crucial global hub for innovation, investment, and talent.

As the Web3 industry continues its transformative trajectory, Singapore’s proactive, adaptive, and collaborative approach will be paramount in maintaining its competitive edge and firmly establishing its legacy as the undisputed on-chain state of Asia.

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Singapore’s deep tech startup SOMIN has earned international recognition after Google Deepmind cited its research in generative AI (GenAI) in a recent publication. The paper acknowledged SOMIN’s work as foundational to ACAI (AI Co-Creation for Advertising and Inspiration), a new system designed by DeepMind to automate ad creation and strategy development.

This milestone marks a significant moment for SOMIN, positioning the company as a key innovator in the evolving field of AI-powered marketing. While many generative AI tools focus on simplifying content production for users with limited creative experience, SOMIN has taken a more data-driven and strategic approach through its proprietary system, SOMONITOR.

At the heart of SOMIN’s contribution is SOMONITOR, an explainable AI framework designed for marketers to predict ad performance and refine strategies with clarity. Unlike many tools that act as black boxes, SOMONITOR provides transparent insights, allowing users to understand why particular decisions are made by the AI. This empowers marketing professionals to make more informed choices, tailoring content and delivery channels with precision.

One of SOMONITOR’s distinctive strengths lies in its predictive capabilities. It evaluates ads before they are launched, forecasting metrics such as click-through rates (CTR) using machine learning models trained on industry-specific data. This reduces the reliance on trial-and-error approaches, allowing teams to optimise campaigns with greater confidence.

In contrast to more template-driven AI tools such as ACAI or Mavic, which are typically aimed at non-specialist users, SOMONITOR serves as a robust platform for marketers seeking to enhance their strategic decision-making. By clustering content based on customer personas and aligning with real-time audience behaviours, the system facilitates more targeted and effective campaigns.

Also Read: Women in data: Busting myths, breaking barriers and building an inclusive future for tech

A growing concern in generative AI is the phenomenon of “hallucination”, where outputs appear convincing but are ultimately inaccurate. SOMIN addresses this challenge by anchoring its predictions in industry-verified data, ensuring recommendations remain reliable. Its integration with Global Web Index (GWI) also gives it access to rich consumer datasets, enabling deeper audience segmentation and more relevant content suggestions.

This data-backed approach is especially valuable as businesses navigate rapidly changing market conditions. Rather than relying solely on historical performance, SOMONITOR adapts to current consumer trends, an advantage that proves essential in dynamic sectors such as retail, automotive, and fast-moving consumer goods.

Collaborating with Google and the enterprise ecosystem

SOMIN’s recent recognition by Google DeepMind builds on its established relationship with Google. As an alumnus of the Google for Startups Accelerator and a certified Google Independent Software Vendor (ISV), SOMIN has benefitted from strategic partnerships, technical resources, and go-to-market support.

This includes receiving US$350,000 in Google Cloud credits and early access to the Gemini language model, bolstering SOMIN’s infrastructure and capabilities. Additionally, the company’s visibility within the Google ecosystem has led to industry connections with agencies such as Dentsu Asia Pacific, facilitating partnerships with brands including Toyota, Heineken, and Vienamil.

Through the Google Marketplace, enterprise customers can now directly access SOMIN’s solutions—an efficiency that streamlines procurement and expands reach.

Locally, SOMIN’s inclusion under Singapore’s Productivity Solutions Grant (PSG) and the IMDA GenAI Sandbox programme has lowered adoption barriers for small and medium-sized enterprises. By subsidising costs and promoting technological innovation, these initiatives have helped businesses implement AI without heavy upfront investments.

Several companies have reported substantial efficiency gains. Marketing agency NEO360, for example, reduced its proposal preparation time from three hours to 45 minutes, while BLAK Labs cut content planning hours by 70 per cent. Mothercare Singapore also improved its competitor research and customer segmentation workflows by as much as 80 per cent.

Also Read: Building an AI-ready Asia by bridging talent, technology, and cyber threats

These real-world outcomes demonstrate the utility of SOMIN’s solutions not just in theory but in daily operations across different industries.

Looking ahead: Human-AI collaboration in marketing

While large tech companies such as Meta and Google continue to dominate generative content production for SMEs, SOMIN is carving a niche in the enterprise segment where AI is increasingly seen as a collaborative tool rather than a replacement for human creativity.

By focusing on the four pillars of content strategy—social listening, competitor analysis, audience research, and business analytics—SOMIN is working to unify these domains under a single platform. Its long-term vision is to democratise strategic marketing insights, enabling businesses of all sizes to compete with data-backed decision-making.

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Image Credit: SOMIN

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The Agritech ClimAccelerator Singapore has officially launched its inaugural agritech programme focused on the Asia-Pacific region, marking a significant boost for climate-smart innovation in the sector.

Powered by Better Earth Ventures, this initiative aims to support startups in innovating, catalysing, and scaling their climate solutions.

The ClimAccelerator, a global programme backed by Europe’s leading climate innovation agency and community, Climate KIC, brings its extensive experience to the region. Over the past 15 years, Climate KIC has supported over 2,100 startups globally, facilitating more than €2 billion (approximately US$2.16 billion) in funding through its ClimAccelerator.

Also Read: SEA’s US$48B agritech revolution: Startups cultivating a smarter future

Better Earth Ventures has also supported over 370 startups that have collectively raised more than US$500 million in funding.

The programme is actively seeking applications from startups based in Australia, Indonesia, New Zealand, Singapore, Thailand, and Vietnam. Anchored in Singapore, the ClimAccelerator will offer crucial resources, access to networks and capital, climate impact measurement tools, and connections to leading investors and industry experts.

Startups with solutions in areas such as novel farming practices, biotech and biomaterials, supply chain, water and energy management, and digital agriculture are encouraged to apply.

Eligible entities must be registered in one of the aforementioned countries, have a technology readiness level (TRL) of 4 or above with validated prototypes ready for real-world testing, and be at the pre-seed stage or beyond, demonstrating traction, early commercial validation, or a clear scaling pathway.

Selected participants will benefit from strategic resources, industry connections, funding opportunities, and expert guidance to measure and enhance their climate impact. They will also have the opportunity to collaborate with leading investors, corporate partners, and agrifood innovation networks to accelerate their growth.

The launch comes at a critical time, as Asia-Pacific is home to over 60 per cent of the world’s population and many of the most climate-vulnerable agricultural regions. The region faces intensifying climate risks, including extreme weather, declining arable land, and water scarcity, potentially leading to a 15 per cent to 20 per cent reduction in agricultural productivity by 2050, with some crops facing up to a 50 per cent decrease.

Simultaneously, the demand for agrifood innovation is increasing, with investment in agritech startups in Asia-Pacific surpassing $8 billion in 2023.

Also Read: Agnition Ventures, Agrifood Futures launch Land x Launch to attract agritech startups to NZ

Rebecca Sharpe, Director of Better Earth Ventures, said: “We face urgent climate and food security challenges that require bold innovation and regional cooperation. This programme will foster an ecosystem to support agritech startups scale, driving climate resilience and sustainable food production. Better Earth Ventures is proud to be the partner to launch the AgriTech ClimAccelerator in Asia-Pacific.”

Applications for the programme close on Friday, 30th May at midnight Singapore time. Ten founders will be selected to participate, with the programme culminating in a demo day on Thursday, 6th November in Singapore. The AgriTech ClimAccelerator Singapore is supported by AgFunder, Enterprise Singapore, MarTech Collective, Rebbeck Consulting and Tomorrow Studio Ventures.

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Small and medium-sized enterprises (SMEs) are the backbone of any economy, making up 98 per cent of all businesses in the Asia-Pacific (APAC) region. Factors such as economic shifts, consumer behaviour, government policies, and competitive pressures are causing accelerated adoption of digital technologies, leading to a growing concern over security. Over 84 per cent of companies in APAC are willing to migrate to cloud-based solutions if it ensures greater security.

Zooming into security, traditional on-premises video surveillance systems, while effective, often come with high upfront costs and ongoing maintenance burdens. With the region’s growing demand for flexible, scalable and cost-effective solutions, cloud-based video surveillance systems are quickly becoming the preferred choice.

Here’s why cloud solutions are transforming security for SMEs.

Lower upfront costs, higher long-term value

In APAC, where many SMEs are growing rapidly but still working within limited budgets, the ability to avoid hefty upfront investments is crucial. Cloud-based video surveillance systems allow businesses to bypass the upfront capital expenditures on hardware, infrastructure and installation. Businesses can consider adopting a predictable operating expense model through cloud subscriptions, spreading costs over time.

In the long run, this shift to the cloud also removes the need for continuous maintenance and costly hardware upgrades, as these updates are handled automatically. As such, a reduced financial burden will help SMEs to focus on other parts of the business and growing their operations, while freeing up finances for investing in other strategic initiatives.

Maintenance-free and always up-to-date

The APAC region is known for its fast-paced development in technology, and SMEs here are looking for solutions that require minimal upkeep. Traditional systems, which require regular hardware maintenance and periodic software updates are expensive and time-consuming.

In contrast, cloud systems are managed entirely by the service provider. This means automatic updates and maintenance are included, ensuring access to the latest features and security patches.

Also Read: Why your business should consider a multicultural cybersecurity team

In Hong Kong, for instance, where seamless solutions are in high demand, cloud-based systems provide businesses with peace of mind by ensuring their video surveillance is always updated and secure, without the need for dedicated IT staff.

Moreover, cloud systems offer built-in network security measures and disaster recovery features, reducing the need for businesses to invest separately on cybersecurity solutions.

Seamless scalability as your business grows

As businesses expand, so do their security needs. One of the significant advantages of cloud-based systems is the scalability they offer. SMEs can quickly add new cameras, new locations or new users without the need for complex installations or new hardware.

This is a huge benefit in cities such as Jakarta or Manila, where commercial sectors are rapidly expanding. The flexibility of the cloud allows businesses to adapt quickly to changing demands and ensures that scaling up doesn’t come with expensive IT investments.

Another key benefit is access to advanced features like AI-powered analytics, which can be deployed on-demand without upgrading physical hardware. Cloud-based systems give SMEs the ability to tap into cutting-edge technology that would otherwise be financially out of reach, ensuring companies stay ahead of the curve as they grow.

Hybrid harmony — best of both worlds

For businesses already using on-premises systems, the switch to cloud-based surveillance can seem daunting. However, a hybrid model provides an ‘off-ramp’ from on-premises infrastructure to cloud.

By combining cloud-based features with existing on-premises infrastructure, businesses can migrate gradually and without disruption. It eliminates the need for a complete overhaul of the infrastructure, allowing cameras and other hardware to be upgraded gradually as they reach the end of their lifecycle.

Many SMEs in APAC face strict local regulations (e.g., China’s PIPL, Singapore’s PDPA, or India’s Data Protection Laws) that require keeping certain data on-premises. Hybrid solutions allow businesses to meet these requirements while still leveraging the cloud for operational efficiency.

The hybrid approach also allows integrators to tackle challenges like data integration, bandwidth requirements and security concerns in a phased manner. Working closely with cloud service providers, integrators can also optimise network configurations and implement robust security protocols to ensure seamless integration.

With comprehensive training and support, vendors working closely with their partners will make it easier for end-users to adopt new cloud-based systems while maintaining their current operations.

Advanced security features for peace of mind

Cloud-based video surveillance systems provide a level of security that traditional systems often lack. Advanced features such as end-to-end encryption for data in transit and at rest, multi-factor authentication, and automated security updates ensure that businesses are protected against modern cyber threats. These features are essential for SMEs to protect their data and ensure compliance with increasingly strict data protection regulations.

Also Read: What if cybersecurity included everyone it protects?

In addition, cloud-based systems offer enhanced redundancy and disaster recovery capabilities, keeping critical data safe and accessible even in the event of hardware failure. Comprehensive audit trails and access logs also improve accountability, making it easier for businesses to comply with data protection regulations.

These advanced features provide SMEs with enterprise-level security at a cost that fits their budget.

Instant intel

Real-time situational awareness is crucial for business owners. Cloud-based video surveillance systems provide instant alerts, enabling rapid responses to potential security threats. With advanced AI algorithms, these systems can distinguish between routine events and genuine security risks, reducing false alarms and allowing businesses to focus on verified threats.

By providing real-time insights and proactive alerts, cloud-based systems not only improve security but also optimise resource allocation, allowing SMEs to allocate their time and personnel more efficiently, leading to better business outcomes.

Unlocking the true value: Maximising ROI

For small businesses, the return on investment (ROI) in cloud-based video surveillance is easily measurable. Lower hardware costs, reduced maintenance and enhanced security all contribute to a significant ROI.

Additionally, integrating cloud-based systems with other business operations such as point-of-sale systems or access control helps streamline processes, improve customer service, and allows business owners to make data-driven decisions that contribute to overall business efficiency.

In conclusion, cloud solutions are not just transforming the way SMEs operate; they are fundamentally reshaping how businesses approach security. By offering scalability, cost-efficiency, and advanced protection, cloud technologies enable SMEs to stay agile while safeguarding critical data and assets.

As cyber threats become more complex and regulatory requirements evolve, cloud-based surveillance provides a robust framework that helps SMEs not only mitigate risks but also reach growth milestones faster than their competitors.

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The fashion industry has long struggled with a costly and unsustainable flaw: overproduction. Billions of garments are made each year that never find a home—leading to lost revenue, wasted resources, and overflowing landfills. But what if there was a smarter way to align what brands produce with what customers actually buy?

Enter Nūl, a startup on a mission to fix fashion’s inventory problem using agentic AI. Founded by Malini Kannan and Raghav MS and launched recently by Wavemaker Impact, Nūl helps brands make sharper, faster decisions across their supply chains—reducing overstock, increasing sell-through, and cutting environmental waste along the way.

In this Q&A, Malini and Raghav walk us through how Nūl works, why agentic AI is a game-changer for retail, and what they’ve learned from working at the intersection of technology, sustainability, and fashion.

What inspired you to tackle the issue of overproduction in the fashion industry, and how does Nūl’s mission align with your personal values?

Malini Kannan (MK): At Nūl, we firmly believe that aligning profit with sustainability is possible, even as we drive for significant growth.

A major issue at the heart of this belief is overproduction, which is a common challenge in the fashion industry. When a fashion brand miscalculates, the consequences can be severe—not only affecting profitability but also hindering the ability to fund future collections.

It’s also wasteful, considering the resources, time, and labour involved in producing clothing. The situation becomes even worse when brands are unable to sell their items, even at discounted prices.

These unsold goods often end up in a cycle of being recycled into secondary markets or products. In the worst-case scenario, they are discarded in landfills.

Now imagine that for every 10 items a brand produces, it only sells six or seven at full price. How can we close this gap? This is the problem we aim to solve.

Can you walk us through a typical use case of Nūl’s technology for a medium-sized fashion brand, from data integration to actionable insights?

MK: Let’s take a typical example of a medium-sized fashion brand (with ~US$50 million in annual revenue) that has retail stores in two to three countries and sells online through its own store and a few regional marketplaces.

This firm has six seasons per year and some evergreen staples. Every season, it stocks about 200,000 to 250,000 units of clothes across 20-25 styles, allocated across its different stores and online channels. It is left with anywhere between 30-40 per cent of the inventory unsold each season. Today, it manages its inventory levels through a combination of ERP and Exel spreadsheets.

Also Read: Wavemaker Impact launches Nūl with US$500K investment to tackle fashion overproduction

Nūl ingests data from the ERP and Excel sheets used by various business teams without any change to its existing system. Through our simple web-based platform, we provide teams with real-time sales and inventory levels across all of the brand’s retail, online, and marketplace channels.

Furthermore, it provides smart recommendations on how to reallocate inventory. Assuming an item is selling really well at one location and expected to sell out within the next few days, Nūl will suggest reallocating from a store where the same stock isn’t moving as fast.

It identifies micro-trends around size, style, and colour at specific locations, allowing brands to anticipate and trigger reorders.

In addition, Nūl computes SKU-level performance data in real time and provides longer-term forecasts for planning & production.

Simultaneously, at the SKU level, for non-performing stock, it suggests timely shorter-term actions such as markdowns (minimising inventory holding periods or inventory sent for recycling)

Most importantly, it learns from the actions the brand took and customises its approach to the cycle.

What metrics do you use to measure Nūl’s success, both in terms of business growth and environmental impact?

MK:

Growth Metrics: We are still in our build phase, so right now, we are focused on getting customers to pilot with us to understand the variety of use cases they are using Nūl for in their operations and incorporating these into the core of our solution. More customers, more use cases, more variables – leading to a more robust solution.

Environmental impact: Currently, we are focused on helping brands reduce overproduction. Each apparel that isn’t likely to sell has embedded carbon emissions and water usage that varies based on the type of material, dye and process that went into making it.

A simple cotton t-shirt, say, would have about 6-8kgs of carbon emissions in its production and 2,700 litres of water consumed in the process. We provide brands with a baseline linked to their sell-through and the improvements delivered by using our solution to bring down the full-price unsold apparel’ number.

What are the biggest risks or challenges you foresee for Nūl in the coming years, and how are you preparing to address them?

MK: We are part of a bigger ecosystem of solutions required to truly support the fashion industry’s move toward more sustainable production. Keeping in mind our mission, some of the biggest risk factors would be the speed of development and adoption of a broader range of solutions that can get the industry there.

Specific to Nūl, it would be to build with momentum to capitalise on the global potential of our solution quickly.

Can you explain in simple terms how the term “agentic AI” applies to Nūl’s technology?

Raghav MS (RMS): Agentic AI is like a smart assistant that’s always learning and helping teams make faster, better decisions in real-time—based on what’s happening, not just what happened.

At Nūl, we’ve embedded agentic AI into the core of our inventory optimisation engine. Each agent has a specific role—whether forecasting SKU-level demand, evaluating stock imbalances, or optimising store-to-store transfers. These agents operate independently but coordinate using protocols we’ve built, such as a multi-agent coordination protocol and a model context protocol, to ensure they’re aligned and context-aware.

This allows our system to detect emerging patterns—like a sudden spike in demand for a product in one store—and proactively reallocate stock from slower-moving locations. It transforms inventory management from reactive to autonomous, dramatically reducing overproduction and lost sales.

What data sources does Nūl use to train its AI models, and how do you ensure the quality and relevance of that data?

RMS: Nūl’s AI models are trained on both internal and external data. Internally, we pull from POS and ERP systems like Shopify, SAP, NetSuite, and Oracle—tracking sales velocity, inventory, and sell-through at the SKU-store-week level.

Externally, we layer real-time signals such as weather data, regional holidays, footfall patterns, search trends, and campaign metadata. This is where our Model Context Protocol (MCP) comes in—it ensures every prediction is contextualised based on when, where, and why a trend is happening.

Also Read: A deep-dive into Wavemaker Impact’s decarbonisation strategies in SEA

To maintain accuracy, we use multi-stage validation and real-time feedback loops, allowing agents to self-correct and continuously improve.

How does Nūl’s platform handle the complexity of fashion inventory, with variables like size, style, colour, and location?

RMS: Fashion inventory is inherently multidimensional. A single product can have dozens of variants across size, colour, and style, and each performs differently depending on the store location, customer demographic, and time of year.

Nūl’s platform is architected to operate at the SKU–attribute–store–time level, meaning we don’t treat “a dress” as a single item—we model demand separately for the size M, black variant of that dress in, say, a downtown boutique in Singapore versus a suburban outlet.

Our AI agents understand that a size S beige jumpsuit might sell out quickly in a warm, urban Singapore store catering to younger professionals, while the same SKU in XL, the navy might lag in a different neighbourhood with different customer behaviour.

We integrate real-time POS, ERP, and e-commerce data with contextual signals like weather, foot traffic, and local events. This allows our system to dynamically balance inventory across the network—not just by style or category, but by the exact size and colour that’s needed, where it’s needed.

As a result, Nūl optimises inventory at a level of precision traditional systems can’t match—minimising overstock, maximising availability, and ensuring high sell-through across every variant.

What has been the most surprising or counterintuitive insight you’ve gained from implementing AI in the fashion supply chain?

RMS: One of the most surprising insights has been how micro-level decisions often outperform big seasonal strategies. We used to think the biggest gains would come from improving forecasts at the start of the season. In reality, we saw brands unlocking more value by making small, frequent adjustments during the season—like moving 10 units of a fast-selling SKU from one store to another or tweaking restock timing by a few days.

Another counterintuitive finding? High-performing stores often become overstocked simply because they’re performing well—not because they need more stock. Without AI, brands tend to overcorrect by overfeeding their best stores. Our system shows that sometimes the smarter move is to let a product sell out and redirect those units to where growth potential is higher.

It flipped how we thought about “winning” in fashion retail—it’s less about big bets and more about small, fast moves at the right time.

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Hari Vijayarajan

Hari Vijayarajan, CEO (Asia Pacific) of Singapore-based refurbished electronic devices marketplace Reebelo, has announced his departure after nearly ten years in the region’s startup ecosystem.

Vijayarajan, who joined Reebelo following leadership roles at Lazada and ONE Championship, shared news of his exit via a LinkedIn post last week.

His departure marks the end of a significant chapter in his career, during which he contributed to the growth and regional expansion of several high-growth startups across Southeast Asia and the wider Asia-Pacific region.

“It’s time for me to bid farewell to my incredible team at Reebelo in the coming weeks,” Vijayarajan wrote, reflecting on a decade-long journey that began when he returned to Singapore from the United States in 2015.

Also Read: Circular raises US$7.6M funding for electronic gadgets subscription service

At Reebelo, Vijayarajan played a pivotal role in the company’s growth story, helping the marketplace achieve EBIT profitability while continuing to scale revenue.

Under his leadership, the marketplace expanded its offerings beyond refurbished tech to include categories such as used fashion and refurbished sports gear, with a global footprint spanning Australia, New Zealand, Singapore, Malaysia, and Hong Kong.

In addition to overseeing commercial operations, Vijayarajan contributed across multiple business functions including HR, finance, legal, marketing, operations, and tech—experiences he described as “incredibly rewarding” in the fast-paced environment of a Series A startup.

“I leave with immense pride in the accomplishments we’ve achieved as a team,” he said.

Looking ahead, Vijayarajan shared that he has “no clear plans” for his next move—a first in his 22-year career. “This feels both daunting and liberating at the same time,” he wrote. Over the next few months, he plans to take time off to focus on personal growth, wellness, and family while exploring emerging interests such as artificial intelligence and coaching.

Vijayarajan also looks forward to attending his 15-year reunion at the University of Chicago Booth School of Business later this month.

Reebelo, founded in 2019, has grown into one of Asia-Pacific’s leading marketplaces for refurbished electronics and sustainable lifestyle products with backing from investors including Cathay Innovation, FJ Labs, and Antler.

No announcement has been made yet regarding Vijayarajan’s successor.

(An earlier version of the article mentioned Vijayarajan stepped down as Reebelo’s Chief Commercial Officer. The error is regretted)

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The escalating trade tensions between the United States and China, particularly in light of President Donald Trump’s recent tariff policies is giving me chills. The announcement of these sweeping tariffs, dubbed “Liberation Day” by the Trump administration, has sent shockwaves through financial markets, impacting everything from traditional equities to cryptocurrencies like Bitcoin and Ethereum.

Today, on April 7, 2025, the world is grappling with the fallout of this bold economic move, and I’d like to offer my perspective on how these developments are reshaping the global financial landscape, with a particular focus on their implications for cryptocurrencies and broader market sentiment.

The latest chapter in this saga began when Trump unveiled a comprehensive tariff strategy on April 2, 2025, imposing a 10 per cent baseline levy on all US imports, with steeper duties targeting specific countries—34 per cent on China and 20 per cent on the European Union, among others. This policy, aimed at addressing trade imbalances and bolstering domestic manufacturing, was met with swift retaliation from Beijing, which announced additional 34 per cent tariffs on all US goods just days later.

The tit-for-tat escalation has heightened fears of a full-blown global trade war, pushing investors to seek refuge in safe-haven assets like US Treasury bonds and gold, while riskier assets—stocks, commodities, and cryptocurrencies—have taken a significant hit. The MSCI US index plummeted 6.0 per cent in response, with US equity futures signalling a further 3.3 per cent drop at the open, reflecting the deepening gloom among investors.

For cryptocurrencies, the impact has been particularly pronounced. Bitcoin, the bellwether of the crypto market, has tumbled below US$78,000, trading at US$77,840 as of Sunday—a six per cent decline that mirrors the broader retreat in risk sentiment. This drop comes after a staggering US$247 million in long liquidations rocked the market over a 24-hour period, a clear sign that traders are unwinding their bullish positions amid the uncertainty.

Ethereum, the second-largest cryptocurrency by market cap, has fared even worse, plunging below US$1,600 and erasing over 14 per cent of its value in the same timeframe, with US$217 million in liquidations adding fuel to the fire. These dramatic sell-offs underscore the vulnerability of digital assets to macroeconomic shocks, particularly when investor confidence in traditional markets begins to waver.

What’s striking about this downturn is how it contrasts with the optimism that surrounded cryptocurrencies earlier this year. Bitcoin hit an all-time high of US$109,000 in January, buoyed by Trump’s election victory in November 2024 and his subsequent pro-crypto rhetoric. During his campaign, Trump pivoted from being a crypto skeptic to a vocal supporter, promising to make the US the “crypto capital of the world” and even floating the idea of a national cryptocurrency stockpile.

That enthusiasm carried over into the early months of his administration, with Bitcoin trading above US$80,000 for much of 2025 despite intermittent volatility. Ethereum, too, enjoyed a robust start to the year, hovering above US$1,800 as recently as last week. But the tariff announcement has flipped the script, exposing the fragility of these gains in the face of broader economic headwinds.

Also Read: Global markets reel as Trump tariffs slam stocks and Bitcoin prices

The interplay between Trump’s tariffs and the crypto market is a fascinating case study in how geopolitical and economic policies can ripple through decentralised ecosystems. Historically, Bitcoin has been touted as a hedge against inflation and economic instability—qualities that should, in theory, make it resilient during times like these.

Indeed, some analysts argue that tariffs could ultimately bolster Bitcoin’s long-term appeal by weakening the US dollar’s dominance and driving interest in alternative assets. Jeff Park from Bitwise Asset Management, for instance, suggested that a sustained tariff war could be “amazing for Bitcoin in the long run” due to its potential to undermine traditional currencies. Yet, in the short term, the data tells a different story: Bitcoin and Ethereum are moving in lockstep with risk assets like tech stocks, not as a counterweight to them.

This correlation is evident in the broader market dynamics. The Nasdaq Composite, a tech-heavy index, is careening toward a bear market, while the S&P 500 has shed 4.8 per cent in a single day—its worst drop since June 2020. Defensive sectors like Consumer Staples and Real Estate, while still down, have outperformed the broader market, signalling a flight to safety that hasn’t yet extended to cryptocurrencies.

Meanwhile, commodities like Brent crude have slumped toward US$65 per barrel, reflecting fears that tariffs will dampen global demand growth just as OPEC+ ramps up supply. The US Dollar Index has edged up 0.9 per cent, consolidating recent losses, but Treasury yields are pulling back—the 10-year at 3.99 per cent and the 2-year at 3.65 per cent—as recession odds climb. Gold, typically a rival safe haven to Bitcoin, has held firm above US$3,000 per ounce despite a 2.5 per cent dip, underscoring its enduring appeal in times of crisis.

Digging deeper into the crypto sell-off, the liquidation cascade offers a window into the mechanics of this downturn. For Ethereum, a single whale’s US$106 million loss—triggered by the sale of 67,570 ETH on Maker—appears to have sparked a chain reaction, dragging prices from above US$1,800 to US$1,500 in a matter of hours. Another investor’s sale of 14,014 ETH, valued at $22 million, further amplified the panic, pushing Ethereum to levels not seen since October 2023.

These events highlight the leveraged nature of the crypto market, where large positions can magnify price swings, especially during periods of heightened uncertainty. Bitcoin, while less severely impacted, still saw its own wave of liquidations, with US$247 million wiped out as traders rushed to exit long positions.

Also Read: US tariffs vs crypto wins: An economic shift

In my humble point of view, the tariffs are acting as a double-edged sword for cryptocurrencies. On one hand, they’re stoking fears of slower growth and higher inflation—conditions that could, over time, drive adoption of decentralised assets as a hedge against traditional systems.

Trump’s own pro-crypto stance, including his March announcement of a strategic reserve featuring Bitcoin and Ethereum, lends credence to this narrative. Yet, in the immediate term, the market is behaving more like a risk proxy than a safe haven. The Fear & Greed Index, a barometer of crypto sentiment, remains mired in “fear” territory, a stark contrast to the exuberance of earlier this year.

Looking ahead, the trajectory of this trade war will be critical. Federal Reserve Chair Jerome Powell has signalled that the central bank won’t rush to cut rates in response to the tariffs, despite their potential to slow US growth and stoke inflation. This stance could exacerbate the pressure on risk assets if inflationary pressures persist without monetary relief.

For Bitcoin and Ethereum, a prolonged period of market turmoil could test key support levels—US$75,000 for Bitcoin and US$1,400 for Ethereum—before any recovery takes hold. Yet, if the tariffs weaken confidence in fiat currencies or trigger a broader shift away from dollar-centric systems, as some experts predict, cryptocurrencies could emerge stronger on the other side.

As I reflect on these developments, I’m struck by the paradox at play. Trump’s tariffs, intended to strengthen the US economy, are instead unleashing chaos across global markets, including the very crypto ecosystem he’s championed. For investors, the challenge lies in navigating this volatility—balancing the short-term pain of sell-offs against the long-term promise of digital assets. From where I stand, the story is far from over.

The coming weeks will reveal whether this is a temporary blip or the start of a deeper reckoning for cryptocurrencies and the global economy alike. One thing is certain: in this interconnected world, no market is an island, and the reverberations of “Liberation Day” will be felt for months, if not years, to come.

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As artificial intelligence continues its swift march into every corner of our lives, the stakes for the Southeast Asian region could not be higher. From cutting-edge financial tools to automated factories, AI’s potential to reshape industries has never been more apparent.

The AI market in the Asia-Pacific region was valued at US$50.41 billion in 2023 and is projected to reach approximately US$735 billion by 2030. But alongside these new possibilities come new risks, particularly in cybersecurity.

In 2024, Kaspersky’s Security Network detected over 5 million web threats in Singapore alone, averaging 14,000 web-based attacks per day. Meanwhile, PwC’s 2023 Global Risk Survey found that 69 per cent of organisations view themselves as highly exposed to cyber risks. Additionally, 59.6 per cent of enterprises in the Asia-Pacific region experienced ransomware attacks in 2023, underscoring the urgent need for enhanced cybersecurity measures, according to IDC.

If Asia is to harness AI’s full promise, it must act quickly to develop the right skills, policies, and collaborative networks capable of staying ahead of increasingly sophisticated cyber threats.

Recent developments in Singapore illustrate the urgency of building a robust cybersecurity framework: the Cyber Security Agency (CSA) has intensified efforts to protect critical infrastructure, deploying AI-driven threat detection and cloud-security measures that respond to attacks in real time. In Asia, businesses are doubling down on extended detection and response (XDR) solutions, AI-powered threat intelligence, and stronger endpoint protections.

AI offers a powerful defensive shield and fuels a new generation of threats: automated cyberattacks, polymorphic malware that outsmarts traditional security measures, and hyper-realistic phishing campaigns that are increasingly difficult to detect.

For organisations, the path forward involves embracing AI-driven defence strategies, focusing on zero-trust architectures, continuous behavioural anomaly detection, and automated incident responses. It also demands a workforce capable of building, managing, and interpreting these intricate tools, which means the AI revolution depends on talent.

Machine learning and deep learning skill sets, especially in  Python, TensorFlow, PyTorch, and Scikit-learn, are in high demand. AI engineers with cloud platform proficiency in AWS, Azure, and Google Cloud, now find themselves at the epicentre of the technological transformation.

Cybersecurity specialists trained in AI-driven threat detection, automated response, and risk analytics have become indispensable to organisations on the front lines.

Natural language processing (NLP) has also taken centre stage, powering everything from chatbots to generative AI systems like large language models (LLMs). In Singapore, 79 per cent of employees are now using GenAI daily, surpassing the global rate, due in part  to the national AI roadmap 2021-2025, which promotes AI use across various sectors.

With great power comes great responsibility. As AI becomes more ubiquitous, experts in ethical AI and responsible deployment must ensure that algorithms remain transparent, unbiased, and in line with local data protection laws.

From banking to healthcare, AI’s footprints are visible everywhere. Financial services rely on AI to spot fraudulent transactions and provide automated customer support through robo-advisors. Healthcare institutions are turning to predictive analytics for patient monitoring and diagnostics, while factories adopt AI to predict equipment failures before they cause expensive downtime. Online retailers leverage AI to offer personalised shopping experiences and optimise inventory management.

Also Read: AI glasses for the visually impaired are quietly powering the next economic surge

Yet, all these AI-driven applications hinge on data and securing that data remains a top priority.

Companies across Asia are increasingly turning to AI-based cybersecurity tools that can identify anomalies in real time and respond before vulnerabilities become crises. Firms such as Exclusive Networks are equipping organisations across various industries with cloud-enabled, AI-driven security services.

Some wonder if AI-generated code will render human developers obsolete. While tools like GitHub Copilot and ChatGPT can automate routine coding tasks, human creativity, problem-solving, and architectural oversight remain irreplaceable.

The future of software development belongs to those who can collaborate with AI, integrating automated tools into their workflows and focusing on higher-level system design, cybersecurity, and ethical AI considerations.

The need for secure coding practices may become even more pronounced, as AI-generated code can harbor undetected vulnerabilities. Developers in Asia who embrace continuous up-skilling in everything from cyber-risk management to data ethics will be best positioned to thrive in this new era.

Despite AI’s rapid ascent, a skills gap persists. Only 23 per cent of Southeast Asian companies are transformative in their AI adoption, indicating significant potential for growth in AI integration. However, tech professionals face limited access to specialised training programs, especially those covering AI model deployment, automation, and AI-specific security protocols.

With the complex regulatory landscape, organisations must comply with local data protection laws, including the Personal Data Protection Act (PDP Act), as they implement AI-driven solutions. Meanwhile, AI enables increasingly sophisticated attacks like deepfakes, requiring businesses and individuals alike to remain vigilant against new deceptive tactics.

Private companies can and should take the lead in up-skilling Asia’s workforce. By offering comprehensive training and certification opportunities, businesses can directly address the AI talent shortage. For example, Exclusive Networks provides cybersecurity education through the Exclusive Training Centre (ETC) and Exclusive Academy, helping professionals stay up-to-date with the latest AI-driven security tools.

Beyond training, organisations must invest in AI research and innovation. Collaborating with universities, tech institutes, and government agencies will cultivate a pipeline of skilled professionals. Equally crucial is collaboration on AI ethics and governance to ensure that new technologies remain transparent, fair, and respectful of user privacy.

Also Read: AI-powered brain health app BrainEye sets sights on Indonesia launch

Ultimately, government action is paramount to establishing a thriving AI ecosystem. Governments across Asia are actively investing in AI development, with regional AI investments projected to reach US$110 billion by 2028. Expanding educational grants, funding AI-focused research, and introducing targeted tax incentives for AI-powered enterprises will accelerate AI adoption and innovation.

Asia must also fortify its AI governance, clarifying regulations around data privacy and ensuring new AI applications do not compromise ethical standards or national security. Still, this is a challenge we cannot leave to governments alone. Technological change moves swiftly, requiring a combination of public policy, private investment, and relentless talent development to keep pace.

If Asia embraces these imperatives, fostering innovative AI research, addressing the cybersecurity skills gap, and promoting responsible AI governance, it will be well-positioned to reap the rewards of this new technological revolution.

The future is here, and it runs on AI. The question is whether Asia and its industries will harness the power of AI responsibly and securely or be left vulnerable to the very innovations meant to propel them forward.

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The latest developments surrounding US President Donald Trump’s executive order on tariffs, announced on April 3, 2025, are within my expectations. But maybe not for all. This sweeping policy introduces a broader and higher set of tariffs than many analysts had anticipated, sending ripples through global trade networks, financial markets, and even the volatile world of cryptocurrencies.

My perspective on this matter is one of cautious concern tempered by an appreciation for the complexity of its potential outcomes. While the intent behind these tariffs—framed as a move toward economic fairness and a boost for American industry—may resonate with some, the scale and scope of this policy could unleash a cascade of unintended consequences, from inflationary pressures to market instability, that warrant a deeper dive.

Let’s start with the nuts and bolts of the executive order. The policy establishes a universal tariff of 10 per cent on all US imports, a baseline that already signals a significant shift in trade dynamics. But it doesn’t stop there. Country-specific tariffs pile on additional layers of complexity, with China facing a hefty 34 per cent increase, Vietnam a staggering 46 per cent, Taiwan 32 per cent, South Korea 25 per cent, Japan 24 per cent, and India 26 per cent.

Meanwhile, nations like Australia, the UK, and Singapore catch a relative break at the 10 per cent baseline, and Canada and Mexico escape additional reciprocal tariffs entirely—a notable carve-out that suggests a strategic nod to North American trade cohesion.

Exemptions for pharmaceuticals, steel, aluminum, semiconductors, and copper soften the blow for certain sectors, but the closure of China’s de minimis loophole, which now subjects previously exempt goods to a 30 per cent duty (rising to US$25 per item, then US$50 after June 1, 2025), is a game-changer for e-commerce giants like Alibaba, PDD, and Shein. These companies, which have thrived on low-cost shipping to US consumers, now face a steep uphill climb.

The sheer scale of this tariff regime is jaw-dropping. If fully implemented, the effective US tariff rate could climb to around 25 per cent, applied to US$3.3 trillion in annual goods imports. That translates to a tax increase of roughly US$660 billion, or about 2.2 per cent of US GDP. To put that in perspective, this isn’t just a tweak to trade policy—it’s a seismic shift that could reshape the economic landscape.

Estimating its impact isn’t straightforward, but a Federal Reserve model from 2018 offers a starting point: for every 1 percentage point increase in the tariff rate, GDP takes a 0.14 per cent hit, and core PCE prices (a key inflation metric) rise by 0.09 per cent. Applying that to a 16-point hike—accounting for the jump from current levels to the projected effective rate—suggests a GDP reduction of 2.3 per cent and a price increase of 1.4 per cent over the next two to three years.

These numbers, while theoretical, paint a sobering picture of slower growth and rising costs, though the real-world outcome will hinge on a tangle of variables like inflation trends, corporate pricing power, and the US dollar’s trajectory.

From my point of view, the interplay of these factors feels like a high-stakes economic experiment. Inflation, already a lingering concern for households and policymakers, could flare up as import costs climb, squeezing consumers and testing the Federal Reserve’s resolve. The market seems to agree, pricing in expectations of more than three rate cuts as a buffer against potential slowdowns.

Yet, the Fed’s ability to counteract a tariff-driven shock may be limited—rate cuts can’t undo supply chain disruptions or offset the loss of export markets if trading partners retaliate. And retaliation seems all but certain. Trump’s “reciprocal” tariff framework, which pegs duties at half of each country’s respective rates, invites a tit-for-tat escalation. Add in the 25 per cent tariff on foreign-made cars, and you’ve got a recipe for a full-blown trade war that could hammer exporters in places like Japan, South Korea, and Taiwan, while driving up costs for American car buyers.

Also Read: Beyond the announcement: The ripple effects of liberation day on global assets

The financial markets wasted no time reacting. US equity futures tanked, with the S&P 500 shedding over US$2 trillion in value in a matter of hours, reflecting a swift pivot to risk aversion. Cryptocurrencies, often touted as a hedge against traditional market turmoil, didn’t escape the fallout. Bitcoin dropped two per cent, Ethereum and Solana each fell four per cent, and XRP slid three per cent, while Trump’s own meme token took a 10 per cent hit before showing flickers of recovery.

Crypto futures liquidations spiked to US$511.77 million in the past 24 hours, with Bitcoin alone accounting for US$179.71 million of that carnage, per Coinglass data. This wasn’t a crypto-specific event—it was a symptom of broader market jitters. Investors, spooked by the tariff news, pulled back from risk assets across the board, and digital currencies, despite their decentralised allure, got caught in the crossfire.

What’s fascinating—and a bit unnerving—is how this policy blurs the lines between economic strategy and political theater. Trump’s framing of April 2, 2025, as “Liberation Day” and his promise to “make America wealthy again” tap into a populist vein, casting tariffs as a patriotic stand against unfair trade practices. There’s some truth to the grievance—countries like China and Vietnam have long leveraged low-cost exports to flood US markets, often at the expense of domestic manufacturers.

But the solution here feels like swinging a sledgehammer where a scalpel might suffice. A 46 per cent tariff on Vietnam or 34 per cent on China could kneecap their export-driven economies, sure, but it also risks spiking prices for American consumers who’ve grown accustomed to affordable goods. Companies like Nike, which sources half its footwear from Vietnam, saw shares plummet seven per cent in after-hours trading, a stark reminder of the corporate collateral damage.

For investors, this is a moment to tread carefully. Exporters from tariff-hit nations—think Taiwanese chipmakers, Korean automakers, or Japanese tech firms—face a rough road ahead as their US market access narrows. Domestic-oriented US companies, particularly in manufacturing or energy, might see a short-term boost if tariffs spur reshoring, but the broader economic drag could offset those gains.

Gold, dividend stocks, and fixed-income assets look appealing as safe havens amid the uncertainty, though even those could wobble if inflation surges beyond expectations. The crypto market’s reaction, meanwhile, underscores its lingering correlation with equities—Bitcoin’s drop wasn’t about blockchain fundamentals but about macro fears. That said, some analysts speculate that tariff revenues could fund Trump’s rumoured Bitcoin stockpile, a wild-card idea that might buoy crypto sentiment down the line.

Also Read: The future of job market: Dramatic changes and cultural shifts

On the global stage, the ripple effects are already in motion. China’s e-commerce giants are scrambling to adapt to the de minimis clampdown, while South Korea’s acting president ordered emergency support for affected industries. Japan’s Nikkei 225 plunged 4.1 per cent, and Australia’s ASX 200 dipped two per cent, signalling widespread alarm.

The European Union, hit with a 20 per cent tariff, is mulling countermeasures, and smaller players like Cambodia (49 per cent) and Laos (48%) face existential trade challenges. Canada and Mexico’s exemption might strengthen NAFTA ties, but it also highlights the uneven burden this policy places on other allies. The risk of a fragmented global trade system—where nations bypass the US to forge their own alliances, as China, Japan, and South Korea recently hinted—looms large.

My take? This is a bold, brash move that could either ignite a manufacturing renaissance or backfire spectacularly. The US economy’s resilience will be tested—2.3 per cent GDP growth isn’t guaranteed, and a 1.4 per cent price bump could stoke stagflation fears if growth falters. Households, already jittery from prior inflation waves, might freeze spending, while businesses could delay investment amid the uncertainty.

The Fed’s in a bind, too—cutting rates to spur growth risks fanning inflation, but holding steady might deepen a slowdown. For all Trump’s talk of economic independence, the reality is that global supply chains don’t untangle overnight, and the US isn’t immune to the fallout.

As I see it, the next few months will be a crucible. Markets will gyrate, inflation will creep into headlines, and geopolitics will get messier. Investors should brace for volatility, diversify beyond export-heavy bets, and keep an eye on how corporate America adapts.

For the average American, this could mean pricier goods and a tighter budget—hardly the “wealthy again” vision promised. Trump’s tariffs are a gamble with high stakes and hazy odds, and while the intent might be noble, the execution could leave us all grappling with the consequences for years to come.

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Time does fly when you’re watching the tech world evolve at lightning speed.

But before we dive headfirst into the new year, let’s hit pause and take a moment to reflect on 2024—the trends, the lessons, and, of course, the jaw-dropping stats that shaped the software development landscape.

AI — The Big Thing In 2024 and 2025

AI is making waves

• Nearly three-quarters of organisations are already reaping the benefits of AI. It’s improving productivity, boosting performance, and generally proving its worth.
• That said, scaling AI remains a tricky beast. Only one in three organisations have managed to get it running at full capacity (KPMG).

If there were a popularity contest in the world of technology, AI would surely snag the title of “Most Likely to Succeed” for 2024—and it looks like it’s here to stay with that title in 2025! AI is doing wonders by boosting productivity, making our daily tasks smoother, and automating many processes. But, can we really say that AI is entirely beneficial and without any downsides?

• 76 per cent of tech executives admitted their jobs have undergone a massive transformation over the past two years. With AI and other emerging tech shaking things up, it’s no surprise their roles have taken on new dimensions.

Despite its glow-up, AI is not without its drama.

• A whopping 78 per cent of organisations are nervous about AI being a “black box”—something mysterious, opaque, and not fully understood.
• Ethical dilemmas, job losses, and operational upheavals are just a few concerns making 77 per cent of leaders cautious about diving in headfirst.

Also Read: How the gig economy is empowering women in Vietnam

Sure, there are some bumps in the road, but it’s hard to ignore AI’s superstar potential.

Software developers: The power players

It’s official (duh, we know) —developers are the backbone of our tech revolution. As their numbers continue to grow, they play an even more crucial role than ever before.

• By the end of 2024, the global developer count hit an impressive 28.7 million. That’s a jump of 3.2 million in just four years! The US boasts 4.3 million developers, but Europe isn’t far behind with 5.5 million.

• Germany takes the European crown with 837,389 developers. The UK isn’t too shabby, either, with 813,500, and France rounds out the top three with 467,454.

Just last year, we saw a fantastic increase in developers in the Asia-Pacific region, and it’s all thanks to the remote work trend. This amazing shift allows international companies to tap into talent from all corners of the world, expanding the developer community beyond Europe and America. How exciting is that?

Asia-Pacific on the rise

• The software testing market in this region is on fire, projected to grow at a sizzling eight per cent CAGR by 2026.
• Meanwhile, 80 per cent of top 500 companies now rely on offshore teams, proving that global collaboration is the new normal.

Remote work wins

Love it or hate it, remote work is here to stay. Over half of developers (54 per cent) say they’re more productive working from home. Comfort beats cubicles any day, right?

Let’s get technical — The tools that ruled 2024

Operating systems

• Linux continues to be the rock-solid favourite, powering everything from Android devices to IoT gadgets. Meanwhile, Windows gained some serious ground, with 51.2 per cent of developers embracing it for their projects last year.

The cloud boom

• If your company hasn’t jumped on the cloud bandwagon yet, you’re officially behind. An 18 per cent surge in cloud adoption shows that everyone’s realising how much faster (and more profitable) it makes things. In fact, companies using the cloud reported 53 per cent faster revenue growth—not too shabby.

Programming stars

• It’s official—Python is the cool kid in class. With 70 per cent of machine learning developers choosing it, its popularity isn’t going anywhere.
• For web development, Node.js (42.65 per cent) and ReactJS (40.58 per cent) were the dream team of 2024, according to Radix.

Vietnam: The rising star in development

If you haven’t considered Vietnam as a go-to destination for software talent, you’re missing out. This country is bursting with young, ambitious developers ready to take on the world.

Also Read: The ultimate guide to succeeding in Vietnam’s startup ecosystem

Youthful talent

• Vietnam’s developer pool is mostly Gen Z and Millennials, meaning it’s full of energy, creativity, and fresh perspectives.
• The talent market is maturing fast, with a 1:1 ratio of seasoned pros to fresh faces, making it a balanced mix of experience and innovation.

Tools of choice

• Vietnamese developers love platforms and libraries that make AI tasks smoother, reflecting their focus on staying ahead of the curve.

Salary snapshot

• In Ho Chi Minh City, salaries mostly range between US$1,100-US$1,500 (33.3 per cent), with higher tiers (US$1,600+) making up about 32.1 per cent.
• In Hanoi, the pattern is similar, though slightly more clustered in the US$1,100-US$1,500 bracket (41.11 per cent). Remote work and other cities are adding even more variety to the mix.

It’s not just the stats that are impressive. Vietnam has been catching the attention of big names like Apple, and more recently, NVIDIA, who have chosen the country as a hub for their operations. This marks a clear vote of confidence in Vietnam’s growing reputation as a global tech destination.

Whether you’re looking to hire a few developers for a specific project or build a full-scale offshore team, Vietnam offers the talent, innovation, and cost-effectiveness you need to succeed.

2025 — A new beginning 

As 2025 unfolds, the tech world will continue pushing boundaries, fuelled by advancements in AI, evolving developer tools, and global collaboration. For businesses looking to ride the wave of innovation, tapping into thriving markets like Vietnam could be the game-changer.

Here’s to a year of building, innovating, and maybe—just maybe—debugging a little less.

The FUN thing? Access our full report here.

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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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