Visa’s Fall 2023 Threats Report: AI-Powered Phishing and Ransomware Surge Amidst Global Anti-Fraud Efforts
Visa’s Fall 2023 Biannual Threats Report reveals growing threats in the form of AI-powered phishing, enumeration attacks, and ransomware, despite a lower-than-expected overall global fraud rate. Visa proactively blocked $30 billion in potential fraud during the reporting period. 8 September 2023 – Visa Inc., a globally recognized leader in digital payments, has released its Biannual Threats Report for Fall 2023, shedding...
Allianz Report Reveals Challenges and Resilience in the Semiconductor Industry
The electronics sector, with a specific focus on the semiconductor market, is facing a significant decline in 2023 after a period of exceptional growth, according to Allianz Trade in Asia Pacific’s latest report. Factors contributing to this decline include weakened consumer electronics sales, inventory surpluses, and ongoing geopolitical tensions. 6 September 2023 – In its latest sector outlook report, Allianz Trade in...
Visa Expands Stablecoin Settlement to Solana Blockchain in Partnership with Worldpay and Nuvei
Visa expands its stablecoin settlement capabilities to the Solana blockchain, partnering with Worldpay and Nuvei to streamline fiat-denominated payment settlements. This move marks Visa as a pioneer in adopting blockchain technology and leveraging USDC to enhance cross-border transactions and payments. 5 September 2023 – Visa, a global leader in payment solutions, has taken a significant step toward modernizing cross-border...
Meta’s Code Llama: The Cutting-Edge AI Model Streamlining Code Writing and Debugging
Meta Platforms, the parent company of Facebook and Instagram, is propelling its AI agenda forward with the launch of Code Llama. An AI model built on the foundation of Meta’s Llama 2 language model, Code Llama aids developers by generating code, streamlining code completion, and debugging processes. 25 August 2023 – Tech giant Meta Platforms, formerly known as Facebook, is making bold strides in the realm of artificial...
Hugging Face Surges to $4.5 Billion Valuation with $235 Million Funding Boost from Tech Titans
Hugging Face, an AI startup, has achieved a $4.5 billion valuation following a $235 million funding round supported by major tech entities like Salesforce, Google, and Nvidia. This funding reflects the escalating influence of AI, with significant contributions from various industry giants. 25 August 2023 – AI startup Hugging Face has secured a remarkable valuation of $4.5 billion through a successful funding round of $235...
Mastercard and Binance Collaboratively Cease Crypto Card Services Across Select Countries
Mastercard and Binance have jointly declared their decision to terminate the cryptocurrency card programs across Argentina, Brazil, Colombia, and Bahrain by September 22. This move comes amid a period of regulatory challenges for Binance, while Mastercard continues its strategic partnerships within the cryptocurrency space. 25 August 2023 – In a joint decision, global payment giant Mastercard and cryptocurrency exchange Binance...
Treasure Global’s Game-Changing Indonesian E-commerce Move with ZCITY Venture
Treasure Global Inc, a technology solutions provider, teams up with industry pioneers Ariadi Anaya and Budihardjo Iduansjah to establish an e-commerce venture in Indonesia, marking its entry into the Indonesian market and expansion of its proprietary app, ZCITY. This strategic partnership capitalizes on the country’s substantial internet user base and aims to revolutionize the digital payment landscape. 16 August 2023 –...
GoTo’s Astute Cost-Cutting Drives Q2 Loss Reduction by Millions Amidst Market Reshaping
Indonesia’s tech giant GoTo slashes Q2 losses to 1.2 trillion rupiah ($78.25 million) from 4.3 trillion rupiah YoY, attributing the improvement to stringent cost-cutting initiatives amid SoftBank Group and GIC backing. While continuing cost discipline, GoTo remains focused on expansion and profitability, despite challenges from rivals and shifts in product strategy. 18 August 2023 – Indonesia’s leading technology...
SK Telecom Fuels AI Future with $100 Million Investment in Anthropic for Telecommunications-Driven Innovations
SK Telecom’s $100 million investment in Anthropic signals a strategic effort to bolster its telecommunications-focused AI ventures. Anthropic, known for its competitive AI models, will collaborate with SK Telecom to develop a telecommunications-oriented multilingual large language model and a robust AI platform. This investment aligns with SK Telecom’s commitment to advancing AI innovation within the telecommunications...
PayPal Prepares for New Leadership as Alex Chriss Takes the Reins
PayPal announces a significant leadership transition with Alex Chriss set to succeed Dan Schulman as CEO, effective September 27. Chriss brings a wealth of experience to lead PayPal’s foray into cryptocurrency payments and financial expansion. As the company grapples with underwhelming margins and navigates the evolving fintech landscape, Chriss is poised to carry forward Schulman’s legacy of innovation and growth. PayPal...
Uway Secures $500 Million Financing to Elevate Indonesian E-Commerce Experience
Indonesian e-commerce platform Uway has secured an impressive $500 million in financing to bolster its mission of streamlining the shopping experience through optimized supply chains, supporting startups, investing in logistics, and expanding promotional endeavors. The funding will fuel technological advancements and initiatives to enhance supply chain efficiency, promote entrepreneurial growth, and refine delivery systems, ultimately...
Alibaba Surpasses Expectations with Strong Revenue Growth Amid Economic Challenges
Alibaba Group Holding Ltd has showcased its resilience by reporting a robust 14% rise in revenue across its main divisions, defying China’s economic struggles post-Covid restrictions and regulatory challenges. The positive results signal a significant stride towards the company’s anticipated revival and underscore its strategic efforts to rejuvenate its operations and position in the evolving e-commerce landscape. 11...
Rakuten Group Strategically Consolidates Payments and Points into Credit Card Unit to Navigate Financial Challenges
Japan’s Rakuten Group has unveiled a strategic plan to merge its payments and points businesses into its credit card unit, aiming to enhance its financial outlook. Despite consistent e-commerce revenue, the company’s prolonged financial struggles, linked to its mobile phone business, have prompted this consolidation move which could potentially lead to listing its credit card arm. 11 August 2023 – In a strategic move...
PayPal Introduces PayPal USD Stablecoin to Promote Digital Currency Adoption
PayPal has entered the stablecoin market by unveiling its own U.S. dollar-backed stablecoin, PayPal USD. This stablecoin is underpinned by U.S. dollar deposits and short-term U.S. Treasuries, offering stability and security for digital transactions and transfers. The move reflects PayPal’s commitment to driving digital currency adoption and enhancing accessibility within the realm of digital assets, catering to a wider range of...
Viu Partners with Canal+ to Fuel Asian Expansion and Premium Content Creation
Hong Kong’s streaming platform Viu is considering an expansion across Asia and content collaboration with Canal+. The partnership could lead to Canal+ investing up to $300 million, enhancing Viu’s distribution and adapting Canal+’s content for the Asian market, amidst growing competition and demand for Asian content in the streaming industry. 4 August 2023 – Hong Kong-based streaming platform Viu, owned by...
Meta Platforms Introduces Open-Source AI Tool “AudioCraft” for Music and Audio Creation
Meta Platforms has introduced an open-source AI tool called “AudioCraft” that enables users to generate music and audio based on text prompts. The tool includes three models, including MusicGen trained on proprietary and licensed music, but concerns about copyright violations arise as such AI tools rely on web-sourced data for pattern recognition. 2 August 2023 – Meta Platforms has unveiled an open-source AI tool...
Worldcoin Sets Sights on Global Expansion with Iris-Scanning Identity Technology
Worldcoin, co-founded by OpenAI’s CEO Sam Altman, is embarking on a worldwide expansion, offering its innovative iris-scanning and identity-verification technology to organizations globally. With over 2.2 million users already engaged, the initiative aims to establish a robust financial and identity community while navigating privacy concerns associated with biometric data. 2 August 2023 – Worldcoin, a pioneering venture...
Philippine Businesses Set to Tap Overseas Markets at Asean E-Commerce Showcase
Over 50 local businesses from the Philippines are gearing up to participate in the annual Association of Southeast Asian (Asean) e-commerce showcase in Indonesia. Spearheaded by the Department of Trade and Industry (DTI), the Asean Online Sale Day (AOSD) event aims to foster cross-border trade and economic collaboration, granting Filipino businesses the opportunity to showcase their products and engage with potential customers in the...
Tether Reports Surge in Assets and Operational Profits Amidst Growing Crypto Market
Tether, the leading stablecoin, attains unprecedented success with its assets skyrocketing to $86.5 billion in Q2 2023, accompanied by a remarkable operational profit of over $1 billion, representing a significant 30% quarterly surge. 31 July 2023 – Tether, the world’s largest stablecoin, reported a significant increase in its assets, reaching $86.5 billion in the second quarter of 2023. The company also disclosed making...
Indonesia Launches First Crypto Assets Futures Exchange to Instill Confidence and Investor Protection
Indonesia pioneers its Crypto Assets Futures Exchange, bolstering investor confidence and cementing its position as a regulated and secure hub for crypto asset trading. The initiative aims to revolutionize the nation’s crypto landscape and foster a thriving digital trading ecosystem. 31 July 2023 – Indonesia’s Trade Ministry and the Commodities Futures Trading Regulatory Agency (Bappebti) have jointly unveiled the...
