HSBC Completes e-HKD Trials of CBDC on Public Blockchains
Weekly APAC news up to Wednesday, 16th of July 2025.
👀 NEWS HIGHLIGHT
Korean travelers are set to revolutionize their payment experiences in Thailand, thanks to an innovative collaboration between Bangkok Bank and BC Card, a prominent South Korean payment service provider.
The launch of cross-border QR payments through the Paybooc app allows South Koreans to shop and pay with ease while exploring all that Thailand has to offer, utilizing real-time exchange rates for transactions.
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
🧋 REGIONAL HIGHLIGHTS
⭐️ HSBC completes e-HKD trials of CBDC on public blockchains.
⭐️ UPI now processes more than $18 billion transactions per month.
⭐️ Saas FinTech platform Arteria Technologies raises Rs 100 crore funding from ICICI Venture.
⭐️ India now makes faster payments than any other country, courtesy UPI: IMF note
AUSTRALIA 🇦🇺
ANZ Worldline eyes more capital to address loan breach and funding. Company reports filed with ASIC this month indicate that the joint venture between ANZ and Worldline SA has experienced a significant deterioration in bottom-line performance and will require additional capital support to continue operating under its current business plan.
Aussie FinTech Zepto launches PayTo Index, revealing real-time payments momentum. PayTo allows Australian businesses to collect payments instantly and securely from customers’ bank accounts, operating as a real-time alternative to traditional direct debits.
Stryd and Experian to launch Open Banking-powered loan-matching solution for brokers. The collaboration allows brokers to better match clients to suitable loans and maintain client engagement throughout the loan lifecycle. Continue reading
Australia advances digital currency exploration with Project Acacia. The Reserve Bank of Australia will collaborate with three of the four major banks and other participants to pilot various digital currency use cases. These include stablecoins, bank deposit tokens, and a wholesale CBDC designed to facilitate credit and liquidity risk-free settlement.
MYOB moves into banking services with the launch of Solo Money. Solo Money will provide an all-in-one mobile solution for sole operators from day one, incorporating a transactional bank account with market-leading accounting software so they can stay on top of their finances.
SINGAPORE 🇸🇬
Ant International is exploring stablecoin license applications in multiple global jurisdictions, according to an executive’s statement on July 9. Kelvin Li, head of platform tech at Ant International, shared the plans during the Reuters Next Conference in Singapore. Sources say that the company is working with Circle Internet Group Inc. to adopt its stablecoin on the Chinese FinTech company’s blockchain platform.
INDIA 🇮🇳
NRI-focused FinTech startup Belong raises $5 million in round led by Elevation Capital. The fresh money will be used to acquire regulatory licences, build the product suite, and invest in marketing and geographic expansion. Read more
INDONESIA 🇮🇩
Jenius chooses Wise Platform to transform cross-border payments for millions of digitally-savvy Indonesians. Through this collaboration with Wise Platform, Jenius is further empowering users with a seamless process of sending money abroad in multiple currencies, including USD, EUR, GBP, SGD, AUD, and HKD, directly from the Jenius app to other banks, 24/7.
PHILIPPINES 🇵🇭
Revolut officially launched a new Global Tech Hub in Manila, Philippines, aiming to enhance Revolut’s global capabilities and accelerate innovation. This new Global Capability Center will work across time zones and continents, supporting operations in the UK, Europe, Asia-Pacific, and the Americas.
PAKISTAN 🇵🇰
Bazaar acquires Keenu to create ‘integrated commerce-FinTech platform’. According to a statement, “this marks the first time a major Pakistani e-commerce company is bringing payments infrastructure in-house, a strategic move with transformative potential for millions of consumers and businesses across the country.”