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Ecosystem Roundup: SG crypto exchanges react to advertising guidelines; Lumina, RateS grab funding

How crypto exchanges in Singapore are reacting to MAS’ new advertising guidelines
Under the new guidelines, firms are not allowed to advertise in public areas or engage third parties such as social media influencers to promote crypto services in Singapore. Instead, they can only advertise on their own corporate websites, mobile apps or official social media accounts

S’poreans are least optimistic about the metaverse among those in SEA, according to survey
While most countries’ respondents felt largely positive about the development, Singapore stood out as an exception

China, India and Indonesia record highest digital wallet adoption rates across APAC
Booming adoption of digital wallets is shown by the surge in digital payments, notably over the past year

3 lessons I learned in my transition from VC firm to crypto company
In this contributed post, Nat Wittayanataseth confessed that she had a naive assumption that joining a post-product-market-fit crypto company means there will be clear visibility on the paths ahead.

Indonesia encourages digital preparedness through upskilling and reskilling
A report shows that in 2025 there will be 43 per cent of industry players who reduce or reduce the number of workers as a consequence of the application of technology integration, OpenGov reports

Grab, Singtel are new strategic investors in Bank Fama
Grab and Singtel acquired 16.26 per cent of shares in Indonesia-based Bank Fama as part of the movement to reach out to SMEs in the country

Why Saleswhale sold its business to this SoftBank-backed unicorn
At the height of the pandemic in 2020, Saleswhale’s revenues plunged by 70 per cent to US$300,000 as its clients across the world implemented cost cuts

Address challenges in PH fintech industry to sustain growth: study
According to a recent study by the Philippine Institute for Development Studies (PIDS), the COVID-19 pandemic has also contributed to the growth in demand for fintech, as demonstrated by the increased use of digital payment platforms

AI deep learning system that dramatically cuts diagnosis time for eye diseases wins gold at Techblazer Awards
The Techblazer Awards is Singapore’s highest accolade for tech innovation. The 2021 awards saw more than 440 nominations, up from 403 submissions in the previous year

Indonesia’s social commerce startup RateS nets US$6M in Series A+ round
The round also included US$1.5 million in debt financing. The startup will utilise the funding to launch its in-house brands, starting with mum and baby products manufactured in China

Tapping into joy: The new cultural currency for brands
With the myriad of challenges in the past two years, there has been a global shift toward authenticity and purpose amongst brands. Ng Chew Wee of TikTok explains to our readers how they can tap into this shift.

Y Combinator, Alpha JWC back Indonesia’s job community startup Lumina
Lumina provides an easy-to-use, community-based recruiting and benefits platform for Indonesia’s working class. With this, Lumina plans to triple the size of its engineering team

EthAum names 15 startups in latest cohort
The sector-agnostic programme’s latest cohort includes B2B startups from the property tech, supply chain, enterprise SaaS, retail, and HR tech sectors, amongst others

PH fintech startup exceeds P1-B mark in transaction volume in 2021
Invoice payments, employee salaries, and vendor payments were the main drivers for this milestone, backed by a customer base that has grown by roughly 20x over the last 12 months

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