Welcome to the latest roundup of top news stories, offering an insightful overview of the realms of technology and finance. Explore updates ranging from cryptocurrency exchange approvals to significant leadership appointments.
1. Crypto exchange OKX receives in-principle approval for Singapore payments license
On Wednesday, OKX’s Singapore subsidiary secured in-principle approval for a payments license from the Monetary Authority of Singapore, enabling the provision of digital payment tokens and cross-border money transfer services. (Reuters)
2. South Africa set to licence 60 crypto platforms by month-end
South Africa aims to licence approximately 60 cryptocurrency platforms by month-end, leading the continent in requiring permits for digital-asset exchanges. (Bloomberg)
3. Crypto industry players in Hong Kong call for swift approval of bitcoin ETFs
Hong Kong authorities are being encouraged to authorise spot bitcoin exchange-traded funds (ETFs) to solidify the region’s standing as Asia’s financial center. Industry insiders advocate for this move ahead of the U.S., believing it will elevate Hong Kong’s position in the global cryptocurrency market. (Bitcoin.com)
4. Indonesia’s Finance Regulator (OJK) Issues New Crypto Regulation
Indonesia’s Financial Services Authority (OJK) has announced new regulations to integrate technological innovation in finance, including crypto, effective January 2025. (CoinPedia)
5. CloudMile launches information security management solution responding to the growing risks of cloud and AI application
CloudMile, a provider of artificial intelligence and cloud services in Asia, unveils its bespoke “Information Security Management Solution” for corporate clients. This initiative aims to mitigate risks linked with hybrid multi-cloud environments and AI applications. (MYsinchew)
6. Tether CEO wants to break Microsoft, AWS, Google’s hold on cloud computing
Tether CEO Paolo Ardoino aims to disrupt Amazon, Microsoft, and Google’s cloud computing dominance using innovative technology akin to the one that revolutionised the music industry in 1999. (Tech in Asia)
7. A giant leap forward: How Web3 is decentralising cloud computing
Web3 emerges as a solution to Web2’s challenges, notably the dominance of corporations over the internet. Collaborating with cloud computing, it propels the evolution towards Cloud3, signifying pivotal advancements and shifts in this domain. (BanklessTimes)
8. Improving software licencing is the key to cracking hyperscaler cloud market dominance
Amid looming regulatory pressures from the EU, sector experts advocate for a recalibration of regulatory priorities. Matthew Sinclair, of CCIA, suggests diverting focus from cloud monopolies to issues like software licencing. (CloudPro)
9. Introducing Devin, the first AI software engineer
Introducing Devin, hailed as the world’s premier fully autonomous AI software engineer. Devin’s capabilities offer engineers newfound freedom to tackle complex issues while Devin seamlessly handles tasks independently. This innovation promises to elevate engineering teams, empowering them to pursue ambitious goals with renewed focus and efficiency. (Cognition)
10. Samsung to use tech favoured by SK Hynix as AI chip making race heats up
Samsung Electronics plans to adopt chip making technology from competitor SK Hynix to boost its presence in high-end chip production for AI. The surge in demand for high bandwidth memory (HBM) chips, driven by the rise of generative AI, underscores Samsung’s move to catch up with rivals like SK Hynix and Micron Technology. (Reuters)
11. US House passes bill to force ByteDance to divest TikTok or face ban
The U.S. House of Representatives has approved a bill with a decisive bipartisan vote, compelling ByteDance, the Chinese owner of TikTok, to divest its U.S. assets within six months or risk a ban. (Reuters)
12. Apple retreats in fight to defend App Store in Europe
Apple yielded ground in its effort to uphold the supremacy of its App Store in Europe, allowing developers to distribute apps directly to consumers. This move, in compliance with the European Union’s Digital Markets Act, may disrupt Apple’s lucrative revenue stream from App Store fees, potentially impacting its profit margins. (Reuters)
13. Intel survived bid to halt millions in sales to China’s Huawei, sources say
Intel has successfully navigated an attempt to block substantial chip sales to Huawei, granting the chip giant an extended window to continue supplying the heavily sanctioned Chinese telecoms company. (Reuters)
14. Equinix hires Google Cloud executive as CEO
Equinix announced the appointment of Adaire Fox-Martin, a seasoned executive from Alphabet’s Google Cloud, as its new CEO effective late next quarter. (Reuters)
