Mekari, an integrated software-as-a-service (SaaS) platform in Indonesia, has acquired omnichannel commerce platform Desty for an undisclosed sum.

The deal aims to strengthen Mekari’s omnichannel commerce solutions and drive business growth across the archipelago. Omnichannel commerce is experiencing rapid transformation due to increasing digitalisation and evolving consumer behaviour.

Also Read: Mekari acquires Qontak to strengthen its end-to-end offering for SMEs in Indonesia

With Desty’s integration, businesses can manage inventory, orders, products, warehouses, and customer conversations across various marketplaces within a single system, connected to Mekari’s existing financial, HR, and operational software.

“The integration of Desty into the Mekari ecosystem will help businesses reduce operational complexity. From inventory and finance to customer communications– everything can now be managed in one platform. The goal is simple: to make businesses more efficient so they can focus on growth,” stated Suwandi Soh, CEO of Mekari.

“With Desty, we are expanding Mekari’s ecosystem from back office to commerce. Our vision is for every business in Indonesia, from SMEs to enterprises, to access technologies that were once only available to large players,” he added.

Mekari claims it serves over 35,000 businesses and one million professionals with a comprehensive suite of cloud-based products, including HR and payroll, accounting and operations, and CRM and omnichannel engagement.

Founded in 2021, Desty empowers retailers and brands to effectively manage both their online and offline sales channels from one centralised system.

Dennis Harsono, CEO of Desty, said. “For Desty users, nothing changes except more opportunities. With Mekari’s ecosystem, our services will be stronger, more integrated, and provide access to new capabilities that were previously unavailable.”

Also Read: EV-DCI 2025: Indonesia’s digital economy gains momentum but faces fierce regional and global competition

“Omnichannel is no longer optional; it’s a necessity. With Mekari’s support, we want to ensure that every merchant, from small businesses to large brands, can grow faster and smarter,” he added.

Both companies are backed by East Ventures.

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Early-stage founders need visibility, traction, and investor connections, but traditional trade shows are expensive and resource-heavy. The Echelon Start Up Booth is built as a smart alternative: affordable, simple, and designed to deliver outcomes.

Why book a Start Up Booth?

Grow revenue and traction

Your booth is more than just space. It’s a conversion funnel that attracts investors, buyers, and collaborators who are ready to engage. With walk-in pitches, on-site demos, and inbound leads, founders leave with more than just visibility.

Also read: e27 recognised among Financial Times’ fastest-growing companies in APAC

Optimised for lean budgets

Starting at SGD 599, each booth includes:

• 1x Counter, 2x Chairs, 1x Power Socket
• Backdrop branding (1m x 1m)
• 2x Echelon Start Passes with full conference access
• Location in the high-traffic Start Up Zone

Optional upgrades such as AI matchmaking and lead scanners allow you to scale outreach without unnecessary costs.

Visibility that matters

Echelon is Southeast Asia’s most founder-centric tech festival, where startups meet investors, partners, and customers face-to-face. e27 built the Start Up Zone to drive footfall directly to your booth and put you in the middle of high-value conversations that create real opportunities.

Also read: Why your story on e27 matters in shaping Southeast Asia’s tech future

Who qualifies

Start Up Booths are built for early-stage companies that are:

• Incorporated within the last 5 years
• Pre-seed to Series B
• Tech-focused (AI, SaaS, fintech, etc.)
• With a live or demo-ready product and early traction

If your company is more mature, explore Marketplace Booths for larger branding and engagement options.

Also read: Meet the mentors powering Asia’s startup ecosystem

Launch offer: Limited early bird pricing

For early-stage founders, every dollar matters. That’s why the Start Up Booth is designed to deliver maximum return on minimal spend. With high-traffic placement, investor access, and built-in visibility, exhibiting at Echelon 2026 is a strategic growth investment.

Secure your booth at SGD 599 (50% off) while slots last. Once sold out, standard pricing applies.

Don’t just attend Echelon 2026. Be seen, sell, and scale: lock in your Echelon 2026 Start Up Booth today!

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ZenicHub, a Thailand-based co-working space and tech-driven accelerator, has announced the opening of its new facility in Bangkok.

Located in the heart of the capital city, the facility is designed to foster collaboration, innovation, and scaling for entrepreneurs, startups, and growing businesses across Southeast Asia.

Also Read: How to hack product growth and user acquisition in Thailand

Alex Chih, co-founder of ZenicHub, stated, “Bangkok is full of potential, and our goal is to provide the infrastructure, services, and networks that empower entrepreneurs to focus on creating great products and scaling their companies.”

ZenicHub offers a modern workspace alongside essential resources and community support for sustainable growth. The offerings include:

• Flexible workspace solutions: Co-working areas, private offices, and event spaces are available, tailored for productivity and collaborative efforts.
• Comprehensive business services: Support spans business registration and compliance, legal advisory, accounting and financial management, HR administration, digital infrastructure, and technology integration.
• Acceleration programmes: These programmes provide tools for business planning, marketing support, investment readiness training, and market-entry strategies.
• Funding access: Startups can connect to seed funding, early-stage investment, and growth capital through ZenicHub’s extensive network of venture capitalists, angel investors, and funding organisations.
• Mentorship & networking: The hub offers guidance from industry leaders, organises curated networking events, and provides ongoing business development support.

ZenicHub has established several strategic partnerships to support startups:

• Laconic Technology: This partnership aims to accelerate software and technology development, enabling startups to bring their digital solutions to market more quickly.
• Jobonic: Specialised services from Jobonic will support business growth, particularly in accelerating expansion within service-oriented market sectors.

Also Read: Thailand’s tech renaissance: Building bridges to global success

• Yiqing Lawyer Firm, China: This firm will serve as the trusted legal advisory partner, ensuring compliance and providing seamless legal support to clients.
• THJ International: This partner will offer expert tax and accounting advisory services, facilitating smooth business operations and financial planning for companies.

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The Philippine startup ecosystem has grown rapidly in recent years, buoyed by a dynamic mix of technology adoption, entrepreneurial drive and government initiatives. Yet despite this progress, scaling remains an uphill task for many founders.

A recent report from Endeavor Insight highlights the barriers that continue to hold back startups across different stages of growth. These hurdles span funding limitations, talent shortages, and policy challenges, painting a complex picture of an ecosystem striving to mature.

Access to capital is the most pressing concern for scaling founders. The report notes that since 2022, a global “funding winter” has chilled investment activity, with growth-stage startups in the Philippines finding it particularly difficult to secure financing. Founders attribute this not only to shifts in global markets but also to a lack of prominent local success stories or exits that could encourage reinvestment into the ecosystem. Without these reference points, investors remain cautious, leaving many young companies to bootstrap their way forward.

For smaller startups, the absence of early-stage capital flows has created additional pressure. While angel investors and venture capital remain present, the limited availability of funds means competition is fierce. This funding gap has forced some founders to be resourceful, leaning on revenue-first models or exploring partnerships abroad.

The shortage of specialised technical talent

Talent challenges weigh heavily on the Philippine startup ecosystem. The country has long been recognised as a hub for IT outsourcing, yet founders say the skills required to scale high-growth startups differ significantly from those used in service-based industries.

Also Read: Beyond vibe coding: How AI can build true tech talent

Specialised engineers—particularly in areas such as product development, data science and artificial intelligence—remain in short supply.

The rise of remote work has complicated the situation further. Multinational companies are increasingly tapping into the Philippine workforce, offering competitive salaries that startups struggle to match. As a result, many local firms resort to training fresh graduates on the job, or seeking talent from regional markets such as Singapore, Vietnam and India.

While this strategy offers short-term relief, it also highlights the urgent need for a deeper domestic pipeline of technical expertise.

Scarcity of managerial talent

Scaling is not solely a technical challenge; it requires strong leadership across all aspects of business. Yet another recurring theme from the report is the scarcity of qualified managerial talent. Positions in B2B sales and C-suite functions, particularly in marketing and finance, are among the hardest to fill.

Companies often attempt to groom young professionals into leadership roles through management-track programmes, but this process is lengthy and uncertain. Others look abroad, competing with multinational firms to attract experienced managers. To stand out, startups emphasise employer branding and highlight the opportunity to take on significant responsibilities early.

Still, the talent pool remains shallow compared to more developed ecosystems.

Policy and regulatory hurdles

For smaller businesses, government policies and compliance requirements pose some of the toughest obstacles. Founders describe monthly reporting obligations, complex processes for starting or winding down a company, and gaps in the legal frameworks that underpin competitive global markets.

In response, many outsource accounting and legal services to manage the burden, while some register their headquarters abroad to take advantage of more business-friendly regulations.

Also Read: How DITP is connecting Thai startups with Philippine investors

Despite these frustrations, there is cautious optimism. Entrepreneurs point to ongoing legislative efforts and advocacy work as signs that a more enabling environment may emerge. The government’s role in shaping the future trajectory of the Philippine startup ecosystem cannot be overstated.

Emerging solutions and support initiatives

Recent developments suggest momentum towards addressing these challenges, according to Alea Ladaga in a contributed post to e27. The Department of Trade and Industry (DTI), in partnership with the National Development Company (NDC), has launched the Philippine Innovation Hub – Marikina Enterprise Center (iHub-MEC). Positioned outside Metro Manila, this initiative aims to decentralise innovation and provide startups, small businesses and the creative sector with access to mentoring, financing links and market opportunities.

She explained that the hub complements existing programmes such as the Startup Venture Fund (SVF), which co-invests in high-growth companies across gaming, multimedia and creative industries. These initiatives build on the foundations of the Innovative Startup Act and the Philippine Creative Industries Development Act, signalling a broader government push to strengthen the ecosystem.

Further, the reorganisation of the National Economic and Development Authority (Neda) into the Department of Economy, Planning and Development (DepDev) reflects a structural shift in economic planning. DepDev’s mandate includes coordinating policies across agencies, aligning national and local development priorities, and ensuring efficient use of resources. With consultation mechanisms involving the private sector, civil society and academia, it may provide startups with a stronger voice in shaping policy.

Towards a more resilient ecosystem

The Philippine startup ecosystem stands at a crossroads. On one side are persistent hurdles that risk slowing progress. On the other are promising signs of institutional support and a maturing entrepreneurial base eager to scale.

Overcoming these challenges will require coordinated efforts from both government and industry. Continuous policy reforms, targeted talent development and sustained funding opportunities are critical. If these elements align, the Philippines could not only address today’s hurdles but also position itself as a competitive hub for innovation in Southeast Asia.

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Image Credit: tommao wang on Unsplash

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Investors are grappling with mixed signals from the United States economy, where durable goods orders have shown resilience despite a decline. At the same time, President Donald Trump’s bold move against a Federal Reserve governor underscores the fragility of institutional independence. Meanwhile, equity markets exhibit regional disparities, foreign exchange rates fluctuate ahead of key data releases, and commodities reflect broader risk appetites.

In the realm of digital assets, where intriguing narratives unfold, particularly around Bitcoin Asia 2025 in Hong Kong, political sensitivities have led to notable withdrawals, even as corporations like Japan’s Metaplanet and the US-based KindlyMD double down on Bitcoin as a strategic reserve. From my perspective as a journalist who has covered financial markets and geopolitical intersections for over a decade, these events highlight a pivotal tension.

While political pressures threaten to stifle innovation in hubs like Hong Kong, the inexorable march of corporate adoption of Bitcoin suggests that decentralised finance may ultimately transcend national rivalries, offering a hedge against traditional economic uncertainties.

US economic data: Resilience amid slowdowns

Starting with the macroeconomic backdrop, US durable goods orders for July 2025 decreased by 2.8 per cent to US$302.8 billion, marking a continuation of the downward trend from June’s revised 9.4 per cent decline. This figure, however, beat economists’ expectations of a four per cent decline, providing a sliver of relief amid concerns over manufacturing slowdowns. The Commerce Department attributes part of the earlier volatility to firms front-loading imports in May to sidestep impending tariffs, a strategy that now appears to be unwinding.

Complementing this, the Dallas Federal Reserve’s business activity index rose 4.8 points to 6.8 in August, its highest level since January, with revenue indices increasing to 8.6 and employment remaining steady at 1.2. These metrics indicate a stabilising labor market and improving business sentiment, as evidenced by the outlook index turning positive at 4.3 for the first time in six months.

On the housing front, the S&P CoreLogic Case-Shiller 20-City Home Price Index rose 2.1 per cent year-on-year in June, decelerating from May’s 2.8 per cent and aligning with forecasts, the slowest growth since July 2023. High mortgage rates and an abundance of inventory have curbed buyer enthusiasm, yet this moderation could help ease inflationary pressures.

Also Read: Crypto-AI startups making waves in Asia: The future is here

In my view, these data points collectively suggest an economy in transition, resilient enough to avoid recession but vulnerable to policy shocks, which brings us to the escalating drama at the Federal Reserve.

Political turbulence at the Federal Reserve

President Trump’s attempt to oust Governor Lisa Cook has injected unprecedented political turbulence into monetary policy. Trump announced her removal effective immediately, citing allegations of mortgage document falsification from her pre-Fed days, framing it as sufficient “cause” under the Federal Reserve Act.

Cook, the first Black woman on the Fed Board and a vocal advocate for economic equity, has vowed to challenge this decision legally, with her attorney, Abbe Lowell, asserting that the president lacks the authority to fire her without due process. The Fed itself has reaffirmed that governors can only be removed for cause, not at will, and Cook plans to seek a court injunction to retain her position until her term ends in 2038.

This confrontation, the first of its kind in the Fed’s 111-year history, has markets on edge, with some analysts fearing it could erode the central bank’s independence, reminiscent of the pressures of the 1930s era. Trump’s economic adviser, Kevin Hassett, has even suggested that Cook take a leave of absence during the litigation, while Democrats downplay the fraud claims as minor.

From where I stand, this episode exemplifies Trump’s aggressive approach to reshaping institutions, potentially destabilising rate-cut expectations just as the Fed eyes Nvidia earnings, GDP revisions, and PCE inflation data. It risks politicising monetary decisions at a time when the economy needs steady hands, and if successful, it could set a precedent that undermines global confidence in US financial governance.

Equity markets: Diverging trends across regions

Shifting to equities, the US markets demonstrated buoyancy despite the Fed turmoil. The S&P 500 advanced 0.4 per cent on Tuesday, buoyed by Nvidia’s 1.1 per cent gain ahead of its earnings and Eli Lilly’s 5.8 per cent surge on promising diabetes drug results. The Dow Jones rose 135 points, and the Nasdaq matched the S&P’s climb, with industrials outperforming amid declines in energy and consumer staples.

Post-market, MongoDB jumped 30 per cent on beating revenue estimates. In contrast, European stocks faltered, with the Stoxx 50 down 1.1 per cent and France’s CAC 40 plunging 1.6 per cent amid deepening political instability. Prime Minister Francois Bayrou’s call for a September 8 confidence vote has heightened jitters, as opposition parties pledge to topple his government, exacerbating concerns over weak growth and geopolitical risks.

Also Read: Crypto bleeds and Wall Street collapses as 0.9 PPI shock triggers Fed panic right now

Commerzbank tumbled over six per cent following a downgrade from Bank of America, though Orsted rebounded by two per cent. In Asia, Hong Kong’s Hang Seng index slipped 1.2 per cent to 25,525, reversing a two-day streak, influenced by US futures dips and Trump’s threats of 200 per cent tariffs on China over rare-earth magnets, alongside retaliation against nations that regulate US Big Tech.

Haidilao fell 2.8 per cent on missed earnings, with broader losses in biopharma and semiconductors. Singapore’s Straits Times edged up 0.1 per cent to 4,256.49, led by Mapletree Logistics Trust’s 3.4 per cent rise, though DBS Bank declined one per cent. Thomson Medical Group soared nearly 40 per cent on news of a massive Johor project.

Overall, these movements reflect a bifurcated global sentiment: US optimism driven by tech, countered by European and Asian caution amid trade wars and domestic politics.

Currencies, commodities, and fixed income signals

In the foreign exchange market, the US dollar softened as markets anticipated Nvidia’s results and upcoming data, with firmer-than-expected durable goods and consumer confidence providing some support. G10 currencies strengthened against the US dollar, with GBP/USD at 1.3480, bolstered by Bank of England hawk Catherine Mann’s stance on holding rates, and EUR/USD steady at 1.1640 despite French fiscal risks arising from Bayrou’s vote.

AUD and NZD gained modestly but were capped by risk aversion, as Reserve Bank of Australia minutes hinted at a 25-basis-point cut and further easing. USD/JPY briefly touched 147.00 on the Cook news before retreating. Looking ahead, economic calendars feature Australia’s CPI, Germany’s GfK consumer confidence, France’s unemployment claims, US mortgage rates, and a speech by Raphael Bostic of the Fed.

Commodities mirrored this caution: oil plummeted sharply, its worst drop since early August, while gold rallied as a safe haven. The fixed income market saw the 5-year to 30-year Treasury yield spread widen to its steepest level since 2021, signaling expectations of long-term growth amid short-term uncertainties. These dynamics underscore a market poised for volatility, where political noise amplifies economic signals.

Bitcoin Asia 2025: Political shadows in Hong Kong

Turning to cryptocurrencies, the spotlight falls on Bitcoin Asia 2025, scheduled for August 28-29 in Hong Kong, one of the world’s premier crypto gatherings. Withdrawals from key figures have overshadowed the event: Eric Yip Chee-hang, director of Hong Kong’s Securities and Futures Commission, and legislator Johnny Ng Kit-chong, both initially slated to speak but now absent from the agenda.

Sources indicate an informal directive to avoid the conference due to Eric Trump’s confirmed appearance as a keynote speaker, aiming to prevent any perception of aligning with or flattering the Trump administration amid escalating US-China tensions. This move, as analyst Lau Siu-kai noted, reflects Beijing’s caution in a city caught between superpowers, especially after US tariffs up to 145 per cent on Hong Kong exports.

Also Read: Bitcoin’s big moment: Can crypto shine as stocks stumble before Jackson Hole?

Eric Trump, executive vice president of the Trump Organisation and a self-proclaimed “Bitcoin maxi,” is set to discuss Bitcoin’s global potential and Asia’s role, fresh from visits to Japan and predictions of BTC reaching US$175,000 this year. The Trump family’s crypto ties, including ventures in mining and advocacy for US-friendly regulations, have fuelled past criticisms of conflict of interest.

In my opinion, these withdrawals are symptomatic of Hong Kong’s precarious position: aspiring to be a crypto hub with new stablecoin regulations and fintech initiatives, yet constrained by Beijing’s oversight and US antagonism. I will still be speaking at this event. I do not find the atmosphere charged, but it also presents an opportunity to emphasise crypto’s borderless nature, potentially bridging divides.

Corporate Bitcoin treasuries on the rise

Amid this, corporate Bitcoin adoption surges. Japan’s Metaplanet Inc., rebranded as a “Bitcoin treasury company,” plans to raise US$1.2 billion through an overseas share issuance, allocating US$835 million for BTC purchases between September and October, targeting 210,000 BTC (approximately one per cent of the total supply) by 2027.

Currently holding 18,991 BTC worth US$2.1 billion, the firm, led by ex-Goldman Sachs executive Simon Gerovich, uses BTC to hedge yen weakness and inflation, with additional funds for its “Bitcoin Income Business” via covered calls. Similarly, US healthcare firm KindlyMD (ticker: NAKA) filed a US$5 billion at-the-market equity offering to bolster its Bitcoin treasury, following an initial purchase of 5,744 BTC valued at US$635 million.

Shares dipped 12 per cent to US$8.07 post-announcement, amid BTC’s 10 per cent fall from mid-August highs to US$111,250. This echoes MicroStrategy’s playbook, popularised by Michael Saylor, where firms view BTC as an inflation hedge despite the risks associated with volatility.

Bitcoin price trends and the road ahead

Bitcoin itself declined 0.5 per cent to US$111,219 over 24 hours, extending a seven day 2.7 per cent drop, driven by technical breakdowns below key moving averages, US$131 million in ETF outflows, and weak buying momentum. Yet, advocates argue its long-term value persists.

In my opinion, these corporate pivots amid political headwinds demonstrate Bitcoin’s maturation from a speculative asset to a corporate staple, potentially insulating it from events like the Hong Kong withdrawals. For Asia, particularly Hong Kong, navigating US-China frictions will be key; the conference could catalyse discussions on regulatory harmony, but only if participants prioritise innovation over ideology.

As global tensions rise, crypto’s decentralised ethos offers a compelling alternative, one that might ultimately redefine treasury management and cross-border finance. This evolving story, blending economics, politics, and technology, reminds us that in an interconnected world, no market operates in isolation.

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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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A new global survey from cybersecurity firm Kaspersky reveals a surprising disconnect in AI travel adoption: only 28 per cent of travellers currently use the tech to plan their journeys, but a staggering 96 per cent of those who do report high satisfaction. With 84 per cent planning to use it again, the results suggest a powerful undercurrent of trust once AI is adopted, hinting at a future tipping point for AI-based travel services.

The research, conducted in partnership with Toluna and based on responses from 3,000 individuals across 15 countries including Indonesia, Malaysia, and China, found that while AI tools are widely used for general research (72 per cent) and work (45 per cent), their application in travel planning remains limited.

Among those who do turn to AI for trip preparation, satisfaction is nearly universal. Of those surveyed, 44 per cent rated the AI-assisted experience as “perfect,” and 52 per cent called it “good.” Despite low adoption, these high approval ratings may signal AI’s latent potential to reshape how consumers research and book travel experiences.

Kaspersky’s findings show that research remains the most trusted function for AI in travel. Among AI-travel users, 70 per cent employed it to discover events, excursions, and sightseeing routes.

Also Read: Agentic AI, urban mobility & smart tourism: 2025’s travel investment hotspots

Others used it to find accommodations (66 per cent), restaurants (60 per cent), and flights (58 per cent). Families with children were more likely to lean on AI for help across all these categories, highlighting AI’s time-saving benefits for more complex travel logistics.

However, when it comes to bookings, the numbers dip: 45 per cent booked hotels via AI, 43 per cent booked tickets, and only 38 per cent booked restaurants. Visa advice from AI saw notable use (45 per cent) though Kaspersky cautions against relying solely on AI for critical, legally sensitive matters such as immigration, citing real-world mishaps such as incorrect visa advice from AI chatbots.

Kaspersky advises travellers to double-check AI-sourced information, avoid booking on unverified sites, and maintain cybersecurity hygiene, especially when using public Wi-Fi or mobile data abroad.

“Respondents all value their time and prefer the personalised outputs that AI provides,” said Vladislav Tushkanov, Group Manager at Kaspersky AI Technology Research Centre.

“AI is maturing and rapidly delivering on its promise of better research and creative ideas, but we must remember that the decision is still ours to make”.

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Image Credit: Anete Lūsiņa on Unsplash

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The rapid rise of artificial intelligence (AI) has transformed the mobile apps landscape, taking it from niche utility to mainstream essential. According to the State of AI Apps Report 2025 by Sensor Tower, the reach of generative AI (GenAI) has widened considerably, reshaping user demographics, engagement patterns and global market trends.

AI is no longer confined to experimental chatbots or specialist tools. It has spread across verticals, powering everything from calorie counters and editing software to lifestyle guidance platforms. This expansion is reflected in app store metadata, where the term “AI” appears more than 100,000 times in app descriptions.

The scale of adoption is striking. In the first half of 2025, global downloads of GenAI apps reached nearly 1.7 billion, with in-app purchase revenue hitting nearly US$1.9 billion. Usage growth shows little sign of slowing: downloads rose 67 per cent half-over-half, while revenues doubled compared to late 2024. Consumers spent a collective 15.6 billion hours in such apps, equating to 86 million hours daily across 426 billion sessions, an intensity that underscores their stickiness.

The report highlights Asia as the most dynamic market for AI-powered mobile apps. Downloads surged 80 per cent between late 2024 and early 2025, well ahead of Europe (51 per cent) and North America (39 per cent). India and Mainland China have been pivotal in this expansion, establishing Asia as the global epicentre of AI adoption.

This regional dominance signals the availability of low-cost smartphones and internet access and a demographic tilt towards younger populations, who are more willing to experiment with emerging technologies.

Also Read: AI remains a travel underdog, but satisfaction soars among early adopters: Kaspersky

Demographics: young, male-leaning but diversifying

Despite broad uptake, audience profiles reveal distinct patterns. GenAI apps still skew towards younger men: in the US, nearly 70 per cent of ChatGPT users are male and 64 per cent are under 35. However, a more balanced audience is emerging. Flagship apps such as ChatGPT, Microsoft Copilot and Google Gemini now attract at least 30 per cent women users. In contrast, entertainment-driven platforms such as PolyBuzz and Character AI are especially popular with young women.

AI Assistants also attract tech-savvy groups. There is substantial overlap with communities such as cryptocurrency traders and peer-to-peer payment adopters, reflecting both early adopters and digitally confident users.

One of the most revealing insights is how usage rhythms resemble those of established search engines. AI assistants are increasingly treated as information gateways, with daily peaks between 7 PM and 10 PM.

ChatGPT also demonstrates a spike in weekend usage, suggesting it has become a go-to tool for broader lifestyle and entertainment needs. On average, ChatGPT users engage with the app 13 times per month, similar to X (formerly Twitter) and Reddit, highlighting its growing integration into everyday routines.

The scope of AI apps is diversifying. ChatGPT, once regarded primarily as a technical aid, is now seeing more prompts related to lifestyle and entertainment, which grew from 22 per cent in mid-2024 to 35 per cent a year later. Health and wellness, government and politics, and shopping are also expanding rapidly.

Still, work and education remain the dominant categories, accounting for nearly 60 per cent of use cases.

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Image Credit: Rob Hampson on Unsplash

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ZUZU Hospitality, a Singapore-headquartered platform focused on revenue management and distribution for independent hotels across Southeast Asia and India, has secured US$5.9 million in Series B extension funding.

Wavemaker Growth, the growth fund of long-time backer Wavemaker Partners, led the round. Existing investors Velocity Ventures and Vulpes Ventures and new investor Latin Leap participated.

Also Read: The days of the ZIRP raise-cash-burn-cash model are gone: ZUZU Hospitality CEO

This money will accelerate the deployment and scaling of ZUZU’s AI-powered revenue management platform RevMate, expand data capabilities, and scale its go-to-market efforts.

The hospitality sector is entering a new phase of digital transformation driven by AI. Independent hotels, which constitute the vast majority of the market, face the significant risk of being left behind. Unlike their larger counterparts with dedicated revenue management teams, these properties often lack the necessary expertise and tools to harness AI’s full potential.

ZUZU Hospitality provides a proprietary all-in-one hotel operating system ( including RevMate and a payments platform) to allow hotels to manage guest and channel partner payments seamlessly.

The core of ZUZU’s RevMate AI platform lies in its proprietary dataset, a collection of booking patterns, pricing decisions, and market performance from its 3,000 hotel partners in India, Indonesia, Malaysia, the Philippines, Thailand, and Vietnam.

According to the firm, the hotel partners report an average 8x return on investment.

Vikram Malhi, founder and CEO of ZUZU Hospitality, commented, “We’re witnessing the most significant transformation in hospitality since the internet. AI is reshaping how demand is predicted and revenue is optimised. Our mission has always been to empower independent hoteliers–the heart of this industry–who lack the resources of large chains.”

“The foundation of this mission is our unique data advantage. We’ve built a proprietary dataset from over 3,000 hotels in a market segment that historically lacks good benchmarking. This data is the fuel for RevMate, our AI revenue management platform, allowing us to fine-tune algorithms specifically for the nuances of the APAC hospitality industry.”

Also Read: The invisible problem in hospitality that’s costing billions in lost revenue

In May 2023, ZUZU announced an oversubscribed US$9 million Series B funding round led by SoftBank Ventures Asia, with participation from Atinum Partners and existing investors Wooshin Venture Investment, Visor Ventures and JG Digital Equity Ventures.

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In the world of finance, access is often mistaken for inclusion. But as tokenised real-world assets (“RWAs”) move from concept to adoption, we must ask: Is access alone enough?

Tokenisation promises to open capital markets to broader global participation. It aims to make exposure to US equities, government bonds, and yield-bearing products as easy as owning stablecoins. But this transformation is not just about making old products faster or cheaper – it’s about rebuilding financial systems in ways that are more transparent, programmable, and equitable. 

For stock tokenisation to succeed, it must go beyond idealism and confront operational, legal, and educational challenges head-on.

Stock tokenisation isn’t new

The idea of putting stocks on the blockchain isn’t some futuristic concept. In fact, it’s been tried before. During the 2020–2021 crypto boom, exchanges like FTX and Binance experimented with tokenised equities, hoping to give global users easier access to US markets.

In 2020, FTX partnered with German firm CM Equity to offer tokens backed 1:1 by shares of companies like Tesla and Apple. These ERC20 tokens gave global users, especially those in emerging markets, an easy way to gain exposure to US stocks. However, regulatory warnings from BaFin and the SEC deemed the products unlicensed securities, forcing FTX to shut them down. 

Binance launched a similar offering in 2021 using the same model but also faced mounting regulatory pressure in several jurisdictions. The service was eventually discontinued.

These cases underscored a critical truth. The core barrier to tokenised stocks is not the technology but regulatory compliance. While demand and infrastructure exist, navigating the complex landscape of securities regulation remains the key challenge for widespread adoption.

A fragmented but evolving regulatory landscape

Today, regulatory approaches to tokenised stocks vary widely. In the US, the SEC maintains that tokenisation does not alter the underlying asset’s status as a security. Any tokenised equity offering to US users must comply with strict requirements, including broker-dealer and ATS licenses, qualified custody, and full disclosure. 

Also Read: The future of investing isn’t TradFi or DeFi: It’s tokenised, transparent, and built for the next billion

In Europe, tokenised stocks fall under both MiFID II and the new MiCA regulation. While MiFID II governs all securities regardless of form, MiCA expands oversight to include certain asset-backed tokens. Pilot programs, such as those by Robinhood Europe, require careful structuring and regulatory exemptions.

In Asia and the Middle East, regulators like MAS, FINMA, and ADGM have created sandboxes for limited RWA tokenisation, primarily for qualified investors. As stock tokenisation is still a new financial instrument, regulators are open to market experimentation and are expected to adapt their frameworks as more real-world data emerges from ongoing pilots.

Not all tokenised assets are created equal

One of the challenges in today’s market is that the term “tokenised stock” can refer to vastly different mechanisms, each with unique trade-offs:

• Custodial-backed models (e.g., Backed Finance) offer tokens fully collateralised by real-world equities held in regulated custodians. These may provide some degree of economic exposure but often lack shareholder rights or dividend claims.
• Contract-for-difference (“CFD”) models, tokenised stocks provide synthetic price exposure without actual asset ownership. These instruments are typically used for short-term trading and represent a zero-sum game between the trader and the platform acting as the counterparty.
• DeFi synthetic models, powered by oracles and overcollateralised derivatives, enable permissionless and fully on-chain exposure to real world asset prices. However, they carry inherent risks, including oracle failures, collateral volatility, smart contract vulnerabilities, and the absence of backing by real-world assets.

For all the current mechanisms above, owning a piece of tokenised Tesla stock does not necessarily mean owning part of Tesla Company. In most cases, end users do not receive voting rights, dividends, or guaranteed redemption mechanisms.

As infrastructure continues to mature, this issue is expected to be mitigated over time. In the meantime, greater emphasis must be placed on educating retail users to ensure they fully understand the risks associated with the assets they are purchasing. 

Building with accountability, not hype

As tokenised finance grows beyond early experimentation, industry stakeholders – including exchanges, infrastructure providers, and ecosystem enablers – must take collective responsibility for shaping its trajectory. The focus can no longer rest solely on narratives or trading momentum. What matters now is building infrastructure that balances openness with integrity.

Also Read: The 3 ways younger generations are boosting financial inclusion

This includes auditability, clear asset linkages, permission-aware token standards, and regulatory-aligned stablecoin frameworks. Exchanges and infrastructure providers can play a pivotal role here – not only by offering global liquidity but by promoting responsible asset design, transparent disclosures, and risk-managed user access.

A more honest financial future

The future of RWA like tokenised stock is not just about faster rails or fractional access. It’s about making finance more understandable, more interoperable, and more resilient to abuse.

Yes, tokenisation expands who can participate. But participation must come with clarity. We must tell users not only what they own, but what they don’t. We must distinguish between exposure and entitlement, between liquidity and redemption, between freedom and fragility.

If we do this right, tokenised finance won’t just mirror traditional markets – it will complement and improve them. But to get there, we need more than momentum. We need standards, transparency, and a willingness to confront complexity.

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Singapore-based ViSenze, a provider of AI-based visual search and recognition tools for retailers, has announced its acquisition by Nasdaq-listed Rezolve AI, an AI-first conversational commerce and product discovery firm headquartered in London.

The transaction details remain undisclosed.

Rezolve’s ambitions and goals align closely with ViSenze’s, focusing on leading the retail sector through AI, innovation, and impact.

With this integration, all of ViSenze’s AI engineering staffers will join the global Rezolve team. The move will transform ViSenze’s Singapore base into Rezolve’s regional headquarters for APAC expansion, with future research and development initiatives planned.

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Oliver Tan, CEO and co-founder of ViSenze, said: “This acquisition marks a whole new chapter for ViSenze under Rezolve. We don’t aim small. Stay tuned for the big new things we’re working on.”

Founded in 2012, ViSenze develops “breakthrough” visual search capabilities for retail and introducing multimodal AI search to revolutionise online and in-store product discovery.

The firm’s solutions use deep learning and computer vision techniques to conduct image extraction and recognition, adaptive machine learning and dynamic contextual analysis, enabling shoppers to search and discover products easily on online platforms. It also recommends products based on shoppers’ product purchase behaviour and insights.

Since its inception, the company has raised US$34.5 million in funding from a slew of investors, such as 31VENTURES, Impossible Ventures, Rakuten Capital, SPH Ventures, WI Harper Group, UOB, Gobi Partners, Walden International, SPRING Singapore, Tembusu Partners, Global Brain, Innoven Capital, NUS Enterprise, and SEED Venture Capital.

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