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Malaysia has officially unveiled the Startup ASEAN platform during its tenure as ASEAN chair, establishing a fully operational digital gateway designed to unite entrepreneurs, investors and ecosystem enablers across Southeast Asia. The launch—following a developmental blueprint initiated in 2024—unlocks access to regional markets, capital, talent and data, with an aspirational target of onboarding at least 10,000 startups by year-end.

The platform’s roll‑out represents phase two of the ASEAN Startup Technology Ignite initiative. Development and a soft launch took place in 2024, while the newly announced phase includes capacity‑building programmes and a Startup ASEAN summit. A third phase commencing in 2026 will see the establishment of an ASEAN Centre of Excellence dedicated to early‑stage ventures.

Minister of Science, Technology and Innovation Chang Lih Kang described the platform as a “strategic enabler” born from collaborative efforts among all ASEAN member states. He highlighted its role in bridging fragmented access to finance, talent and market opportunities. At the launch in Putrajaya, he underlined that approximately 5,000 startups have already joined and affirmed the year‑end goal of doubling that number.

ASEAN Secretary‑General Dr Kao Kim Hourn echoed these commitments, stating that the platform exemplifies deeper regional integration and presents “unprecedented opportunities” through technology. He noted that the platform extends to ecosystem builders and government institutions, reflecting ASEAN’s dedication to fostering inclusive innovation.

Cradle Fund Sdn Bhd, appointed by Malaysia’s MOSTI, is spearheading implementation. Its group chief executive, Norman Matthieu Vanhaecke, emphasised that the platform transcends mere technology: it is designed to generate meaningful partnerships, foster cross‑border initiatives and catalyse growth across the region. He said it will track metrics such as startup onboarding, investment activity and regional collaboration, aiming to involve 2,000 investors and 500 strategic partners by 2025.

Dr Kao highlighted the context underpinning this push. Southeast Asia hosts over 680 million people—more than half under 35—with a combined GDP exceeding US$3.9 trillion and a digital economy projected to surpass US$1 trillion by 2030. Kuala Lumpur’s leap into the top 20 emerging startup hubs, ranking 18th in the Global Startup Ecosystem Report 2025 by Startup Genome, provided a credible basis for regional leadership.

CupTuring beyond connecting stakeholders, the platform is set to host a suite of programmes. Already underway are collaborative initiatives with international partners such as South Korea and China, and plans include additional regional market‑access sessions and mentorship opportunities. The launch event featured a video tour with startup success narratives and a regional market access session, ASEAN CrossConnect, which paired ten seasoned mentors with participating startups.

The platform’s ecosystem metrics are compelling: as of the launch, more than 4,000 startups and 1,087 investors were registered, contributing to an ecosystem valued at over US$131.2 billion.

Governments from less developed ASEAN nations were assured of equal standing on the platform. Chang emphasised its borderless design, allowing any startup with internet access to connect with markets and investors across the region.

The Startup ASEAN initiative traces back to 2023, when ASEAN leaders approved a framework empowering Cradle to lead policy development, ecosystem readiness, and cross‑sector partnerships. The recent formal launch marks the first major deliverable of the Ignite initiative under Malaysia’s ASEAN chairmanship.

Experts view the initiative as a timely response to ASEAN’s broader economic integration agenda, reflected in recent high‑level declarations such as the Kuala Lumpur Declaration. The new platform aligns with ASEAN Community Vision 2045, aiming to strengthen innovation, connectivity and socio-economic resilience.

The Magic Newton Foundation has unveiled its NEWT token, aiming to revolutionise token launches by embedding transparency and equitable distribution at its core. The native token of the Newton Protocol, NEWT debuts with a fixed supply of 1 billion, of which 21.5%—215 million tokens—is initially available.

Designed to tackle persistent issues of insider trading and opaque allocations, NEWT introduces several industry-first safeguards. All allocations are publicly tagged on-chain for independent verification, while quarterly reports will detail usage across community, internal, and liquidity categories. Furthermore, team and contributor allocations are subject to a mandatory 36-month vesting with an initial 12-month lock-up.

Solid data underpins the initiative: research indicates insiders preceded 56% of all ERC‑20 listings since 2021, and studies suggest 10–25% of token listings may involve insider activity. Mohammad Akhavannik, Managing Director of the Foundation, said the goal is to “correct information asymmetry” with full on-chain transparency and equitable distribution.

A significant 60% of the token supply is allocated to community-focused initiatives—growth, ecosystem development, staking, liquidity support—with structured unlocking schedules: 20% at launch, the balance over a 48-month span. The remaining 40% is directed to internal stakeholders—core contributors, early backers, and Magic Labs—with vesting periods designed to align long-term incentives.

Beyond tokenomics, NEWT underpins the Newton Protocol’s AI-driven automation. It serves four primary roles: securing the network through validator staking; acting as the protocol’s native gas fee; funding registration and operational services for AI agent models; and enabling governance participation via staked holdings. The protocol integrates trusted execution environments and zero-knowledge proofs to ensure tasks executed by AI agents adhere to user-defined parameters.

Binance has listed NEWT for margin, futures trading, and inclusion in Earn programmes. The token also features on Coinbase, Upbit, Bybit, and Bithumb. Following the announcements from Upbit and Bithumb, NEWT saw a 40% price surge, which was further bolstered by backing from PayPal Ventures and Polygon securing US$90 million in pre-launch investment.

The launch included a 10% airdrop—100 million tokens—to early community participants and users active on the Kaito platform, including a 0.9% allocation specifically for Kaito rewards, based on an eligibility snapshot on 20 June 2025.

Magic Labs, the principal developer behind Newton Protocol, brings extensive web3 infrastructure experience, having supported over 50 million embedded wallets since 2018 through partnerships with notable platforms such as Polymarket and WalletConnect. This technical legacy, combined with NEWT’s layered governance and economic utility, positions the Foundation to challenge established norms in on‑chain finance.

Critical voices within the crypto community have noted discrepancies in the top-tier distribution: for example, the top 1,000 social‑platform accounts received 0.9% of the circulating tokens, prompting debate over whether influence is being prioritised over grassroots contributors.

Dubai has welcomed 8.68 million international visitors between 1 January and 31 May 2025, reflecting a 7 per cent increase compared with the 8.12 million who arrived during the same period in 2024, according to the Tourism Performance Report from the Dubai Department of Economy and Tourism. In May alone, the city hosted 1.53 million international tourists.

Western Europe emerged as the largest source market, supplying approximately 1.917 million visitors—or 22 per cent of the total. Trailing behind were Russia, the Commonwealth of Independent States and Eastern Europe with around 1.396 million tourists. South Asia contributed 1.242 million visitors, while the Gulf Cooperation Council countries accounted for 1.275 million. The Middle East and North Africa numbers reached 989,000, with Southeast and Northeast Asia, the Americas, Africa and Australia following with 9 per cent, 7 per cent, 4 per cent and 2 per cent shares respectively.

Hotel inventory expanded slightly, reaching 825 establishments with 153,356 rooms by the end of May, up from 822 hotels offering 150,202 rooms a year earlier. Occupancy averaged 83 per cent across the five-month span, climbing two percentage points from 81 per cent in 2024. Total occupied room nights reached 19.09 million, a 4 per cent increase over the previous year’s 18.34 million.

Average visitor stays remained steady at 3.8 nights—even as room rates climbed. The average daily rate rose to AED 620, while revenue per available room increased to AED 513, marking a 7 per cent improvement.

These figures follow a landmark 2024 for Dubai, which attracted a record 18.72 million international overnight visitors—an increase of 9 per cent compared to 17.15 million in 2023. At the close of 2024, hotel capacity stood at 832 properties with 154,016 rooms, confirming the city’s commitment to expanding hospitality infrastructure.

Analysts attribute this growth to strengthened global connectivity, robust destination marketing campaigns and a curated events calendar. In Q1 2025, Dubai recorded a 3 per cent year‑on‑year rise in visitor numbers from 5.31 million in the first quarter of last year. Regional data from the same period finds Western Europe contributing 22 per cent, CIS and Eastern Europe 17 per cent, and GCC countries 15 per cent.

Commenting at the Arabian Travel Market expo, Issam Kazim, CEO of Dubai Corporation for Tourism and Commerce Marketing, underlined the role of tourism as a gateway for inward investment, talent and trade. He highlighted new partnerships with Amadeus, Premier Inn Middle East and Hyatt, plus training collaborations between the Dubai College of Tourism and Marriott, aimed at enhancing Emirati workforce participation.

Industry observers note that average daily rates in the hospitality sector climbed to AED 647 in Q1, underpinned by stronger ADR and occupancy figures. Sustainable tourism initiatives also gained traction; over 150 hotels have since earned the Dubai Sustainable Tourism Stamp—a 118 per cent year‑on‑year increase.

Dubai’s appeal spans an array of demographics. While Western Europe remains the single largest source market, growth from South Asia, the GCC, CIS countries, and Southeast Asia reflects diversified outreach efforts. Leisure, business travel and high-profile events are all contributing factors.

Capacity expansion has run in parallel with evolving demand. Investments continue not just in hotel rooms but in broadening the tourism ecosystem—spanning cultural attractions, entertainment venues and transport links. Airport infrastructure upgrades and added flight routes further bolster access for key markets.

Despite the sustained momentum, the industry faces challenges including seasonal weather variations, geopolitical volatility and budget competition from other destinations. However, Dubai’s consistently high ADR and RevPAR metrics suggest healthy pricing power across its hospitality sector.

The emirate’s strategy emphasises quality over quantity, focusing on richer, high-yield tourism segments including luxury experiences, MICE, health tourism and eco‑conscious travel. This is aligned with the broader economic vision outlined under the Dubai Economic Agenda, aiming to double the size of the economy by 2033.

Continued collaboration between government bodies, private-sector operators and international partners is central to sustaining this trajectory. As global travel rebounds from pandemic-era disruption, Dubai is leveraging its infrastructure depth, event portfolio and marketing muscle to strengthen its position in the upper echelons of global tourist destinations.

Economic projections for 2025 remain positive. With visitor numbers tracking ahead of last year’s pace and average daily rates increasing, tourism is projected to deliver significant contributions to GDP and related sectors such as transport, retail, entertainment, F&B and real estate.

Poland has become the first European country to pilot palm vein–based biometric payments, while Tencent is advancing similar technology in Thailand, setting the stage for a wider rollout across Southeast Asia. Autopay’s HandGo system and Tencent’s palm biometrics reflect a growing global interest in contactless and secure transaction methods.

Autopay has initiated a pilot of HandGo by allowing customers at select venues—such as the Limitless sauna complex in Sopot—to make purchases by placing their palm on a scanner. Once a user links a payment card in the Autopay app, they register their palm vein pattern via QR-triggered enrolment. A digital hand token is then stored securely, enabling future transactions without a card, smartphone, or smartwatch. Autopay emphasises that no actual image of the hand is stored—only encrypted vein pattern data and a payment token meeting PCI‑DSS standards. Company executives describe the offering as a potential game‑changer for wellness and sports facilities, emphasising convenience and hygiene.

Globally, competitors already include Amazon’s Amazon One and Alipay’s PL1 device. Autopay distinguishes itself in Poland by being the nation’s first palm-auth payment provider, placing it alongside early vein‑scanning efforts by BPH bank and fintech Payvein. Another biometric contender, PayEye, combines iris and facial recognition for payment authorisation. Despite its versatility, PayEye requires merchants to deploy specialised terminals that support both biometric and traditional card payments, boosting acceptance rates.

Meanwhile, Tencent Cloud is intensifying its push into palm biometrics in Thailand. Vice‑president Jimmy Chen told the Bangkok Post that the country, backed by its “Cloud First” policy and digital transformation initiatives, makes an ideal launchpad. Tencent is collaborating with local technology firms such as MFEC and True IDC to test the system across multiple sectors, including convenience stores, retail, entertainment, education and finance. Early trials in venues like 7‑Eleven, Siam Commercial Bank, and The Mall Group underscore a focus on Thailand’s tourism-driven retail sector, where international visitors may welcome a card- or cash-free experience.

Tencent Cloud’s palm recognition has already been implemented in China at Beijing Airport Express, Shenzhen University, and numerous 7‑Eleven outlets. The system uses infrared imaging to analyse both surface palm lines and the vein network beneath the skin. Data is encrypted and stored with irreversible transformation to safeguard privacy. The architecture integrates local data centres—in Thailand’s case—with no cross-border transfers, aligning with regulatory frameworks. Analysts from GlobalData suggest that if the trials succeed, Thailand could become the gateway for adoption across Indonesia and Malaysia, offering scalability and enhanced security compared with fingerprint or facial recognition.

The initiative follows earlier pilot projects: Tencent partnered with Visa in Singapore in November 2024 during the Fintech Festival, allowing DBS, OCBC and UOB cardholders to enrol palm biometrics at café POS terminals and make payments thereafter through voice‑free palm scans. Tencent’s palm system, recognised with a Fintech Excellence Award in Singapore, reportedly supports transaction speeds within a second, even under poor lighting or wet conditions.

In Southeast Asia, Alipay’s PL1 palm scanner is already deployed across several markets. PL1 requires users to enrol their palm lines and vein data, then allows tap‑free transactions at metro gates, buses and retail outlets. The competitive landscape also includes Amazon’s Whole Foods adoption of palm scan technology in the US and pilot programmes by J.P. Morgan and Mastercard for palm‑based checkout systems.

Qatar Islamic Bank has rolled out the QIB Junior App, marking the nation’s inaugural “figital” banking solution tailored for children and teenagers. The new app enables guardians to supervise allowances, instil sound financial habits and foster independence, all while maintaining comprehensive parental oversight.

The launch reflects a broader shift in digital finance, blending app-based convenience with in-branch oversight—a hybrid model dubbed “figital.” Users can schedule pocket money, set spending limits and receive instant notifications whenever funds are used. The app also features age-appropriate financial literacy content, including interactive quizzes and short videos designed to teach smart saving and responsible spending.

Banking executives emphasise that QIB Junior aims to instil healthy money habits from an early age. Parents retain full control, with the ability to approve transactions and view spending history, alleviating concerns about safety and oversight. The platform integrates with existing QIB Minor and Misk accounts, allowing seamless fund transfers and real-time tracking via the parent’s primary banking app.

Industry analysts note the banking sector’s growing emphasis on early engagement. By introducing youth to structured money management within parental guardrails, banks hope to foster long-term customer loyalty and financial resilience. This user-centric, educational approach aligns with global trends, where banks in Europe and North America have increasingly introduced junior accounts to promote early financial inclusion.

According to the bank’s statements, the Junior App is now available on major app stores and follows recent enhancements to QIB’s digital services, including fully digital account opening and an Instant School Fee Payment feature. These developments reflect QIB’s ambition to maintain leadership in financial innovation within the region.

QIB is channeling significant resources into digital transformation, investing in AI and data analytics to deliver personalised experiences. The Junior App’s gamified features and secure allowance tools showcase QIB’s strategic shift towards targeting emerging customer segments while reinforcing its fintech credentials.

Parental feedback, gathered during pilot testing, was notably positive. One mother commented that the app “helps my son learn budgeting without losing oversight,” highlighting the dual focus on education and control. QIB reports high pilot engagement and suggests the full roll-out may include future enhancements like goal-setting tools and savings competitions among users.

Qatar’s regulatory environment supports such innovations. The central bank has encouraged development of fintech solutions aimed at youth, aligning with national financial literacy initiatives. QIB anticipates collaboration with schools and educational bodies to embed the app in classroom programmes.

Other banks in the region are beginning to follow suit. Emirates NBD and Mashreq have introduced junior banking features, though none combine learning modules, parental controls and standalone app functionality on par with QIB’s offering. QIB has therefore positioned itself at the forefront with its comprehensive figital solution.

Efforts to foster youth entrepreneurship in Sharjah have taken decisive shape with the launch of a new initiative by the Municipal Council and Sharjah City Municipality alongside the Family Development Department. Known as the Sustainable Future Youth Programme, the project seeks to streamline startup processes, facilitate licensing, and provide mentorship and finance support for young innovators.

The programme introduces a unified one-stop-shop for business setup, combining municipal services with regulatory and advisory support. It aims to reduce administrative delays and lower barriers to entry for promising youth-led enterprises. Stakeholders hope this will catalyse innovation and expand economic diversification within the emirate.

Under the scheme, participants benefit from facilitated licensing via the municipality’s dedicated entrepreneurship centre. Young entrepreneurs will receive support in completing documentation, securing permits, and understanding compliance requirements. Meanwhile, Family Development Department branches will offer training sessions in business planning and financial literacy targeted at individuals aged 18–35.

Sources within the Sharjah Youth Council say the programme differentiates itself through its inclusive approach to sustainability. Every startup selected must embed at least one sustainable development objective—whether in social impact, environmental protection, or economic resilience—into its business model. Mentorship and advisory services will be provided by experts from government, private sector, and academia, ensuring access to high‑value networks.

Officials emphasised that one of the programme’s early successes is its cooperation with Sharjah FDI Office’s Emerging Entrepreneurs initiative. Since its inception in early 2024, the Emerging Entrepreneurs initiative reportedly processed its first licenses within days—365 Luxury Watches being one example of a brand that expanded into the emirate swiftly. The new youth programme is designed to build upon this momentum and scale the model to a broader demographic.

The launch event featured remarks by Saif Al Suwaidi, Acting Manager of the Sharjah Investors Services Centre, who highlighted the intent to “embrace young entrepreneurs and innovators eager to launch their projects and businesses in the emirate’s vibrant markets”. Sheikha Issa Al Harmoudi of the Sharjah Youth Council stressed that aligning municipal and youth-targeted efforts is key to reduce obstacles faced by local innovators.

Ruwad, the Sharjah SME foundation, will also play a pivotal role by offering membership benefits, financing options, and virtual incubation facilities—especially targeting universities and alumni. As of early 2024, Ruwad’s network of roughly 1,500 members had already started utilising such support programmes.

Earlier in 2025, complementary youth measures were introduced in the emirate. The Sharjah Capacity Development Foundation released Masar, focused on bridging the gap between education and employment for graduates. The Sharjah Youth Council, together with the Ministry of Industry and Advanced Technology, also organised the “Industry Pioneers – Make it in the Emirates” session to orient Emirati youth towards emerging industrial opportunities under the national diversification strategy.

These activities reflect Sharjah’s broader ambition to bolster non‑oil sectors—such as manufacturing, tech, and creative industries—to contribute significantly to the UAE’s economic targets by 2031. They also coincide with the Municipality’s efforts during UAE Innovation Month in January that included youth‑centric programmes like Innovative Engineer and Innovative Farmer, aimed at nurturing a culture of creativity within municipal services.

Analysts note that the sharpening focus on youth-empowerment initiatives is timely, given the global rise of youth-led impact ventures and the UAE’s increasing competition with regional innovation hubs. According to market data, Sharjah’s share in domestic non‑oil FDI and startup investment has grown significantly, though it remains modest compared to Abu Dhabi and Dubai. The new programme aims to narrow that gap by improving regulatory efficiency and offering targeted support.

Critics, however, caution that sustainable impact depends on measurable outcomes. They argue the programme should establish clear metrics—such as business survival rates, job creation, and investment attraction—to accurately assess its effectiveness. Some have also emphasised the need to extend outreach to rural and underrepresented communities across the emirate.

Government responses indicate that a central dashboard for monitoring and reporting outcomes will be unveiled in the coming quarter. The Municipality has committed to publishing annual impact reports detailing licence issuance, active ventures, funding accessed, and employment generated. They also plan to host follow‑up workshops and bootstrap funds later this year.

As implementation proceeds, attention will turn to integration with existing initiatives. Stakeholders emphasise synergy with SAEED’s established model, Ruwad’s incubation services, and the Youth Council’s outreach. Plans to forge links with private sector incubators and international investor networks are also under exploration, signalling Sharjah’s ambition to transform municipal-level support into a globally connected entrepreneurship ecosystem.

Cryptocurrency markets are recalibrating as TRON’s USDT reserves climb to an unprecedented $80.7 billion, eclipsing Ethereum’s $73.8 billion—a record milestone for 2025. Data from blockchain analytics firm CryptoQuant highlights that TRON’s share of the Tether stablecoin ecosystem has entered previously uncharted territory.

This expansion further cements TRON as the dominant platform for USDT issuance. Tether’s circulation on TRON—branded as TRC‑20 tokens—has surged sharply since the beginning of the year, jumping from approximately $59.8 billion in January to over $80 billion by mid‑June. In comparison, Ethereum’s ERC‑20 USDT remains below TRON’s benchmark, highlighting a structural shift in network preference.

Market observers attribute TRON’s gains to its lower fees and faster transaction times. A report from NFTEvening confirms that, as of mid‑May, TRON commanded nearly 50 per cent of global USDT supply, while Ethereum’s share hovered around 41 per cent. TRON’s blockchain now processes more than 2.4 million USDT transactions daily, dwarfing Ethereum’s roughly 280 000 transfers.

TRON’s performance in 2021 was already notable, with USDT supply expanding from $6.7 billion to $39.4 billion—an increase of nearly 487 per cent. Stakeholder confidence accelerated through 2024, with TRON first overtaking Ethereum in USDT issuance in November.

While TRON’s stablecoin dominance grows, its total value locked in DeFi has declined—from roughly $7.5 billion in January to about $4.3 billion by mid‑year—according to DefiLlama statistics. However, decentralised exchange activity on TRON is rising; trading volume increased from $4.9 billion in April to $5.5 billion in May. Analysts argue that users may prefer flexible, liquid trading over locking capital in yield‑farming protocols.

TRX, TRON’s native token, has gained approximately 2.2 per cent in the past 24 hours to $0.2729, yet remains some 36 per cent beneath its December 2024 peak of $0.4313. Technical charting shows consolidation below the 20‑day simple moving average and strength above key exponential moving averages, indicating latent bullish potential.

CryptoQuant reports that TRON’s agenda is now largely centred on payments rather than advanced DeFi, noting a distinct mix of tokens like Wrapped TRX and USDD on the network. The network’s recurring USDT mints are viewed as part of a strategic buildup. In mid‑May, Tether authorised another $1 billion mint on TRON, pushing its authorised supply well beyond Ethereum’s at $73.7 billion compared with $74.5 billion.

TRON’s growing role in Asia and emerging markets may be another driver. The platform appeals to users and exchanges that prioritise low cost and swift settlement—features that align with cross‑border remittance and retail payments. However, questions around TRON’s longstanding association with illicit transactions continue to cast a shadow over its rising stature.

Ethereum retains significant traction within DeFi due to its robust ecosystem and broader stablecoin diversity. Nevertheless, ongoing surcharges and network congestion are prompting shifts towards alternate chains like TRON. The competition reflects a broader evolution towards a multi‑chain infrastructure where each blockchain plays to its strengths: Ethereum for advanced financial apps, TRON for efficient payments.

Regulators are also watching this competition. Policy discussions around stablecoin frameworks in the United States, Europe and Asia could reshape how tokens are issued and used. TRON’s dominance in USDT may prompt further scrutiny and prompt Tether to reassess its minting cadence and reserve disclosures across different chains.