Gnosis Pay has moved into emergency containment after attackers exploited a vulnerability in the Delay Module used in its smart-contract wallet architecture, forcing an urgent withdrawal warning, a temporary reversal of guidance and a pledge to reimburse affected users in full. The breach, disclosed on 1 June, hit the payment product that connects self-custodial crypto wallets with card spending. The affected component is linked to the Zodiac […]
Born From Personal Experience
Handshake Finance launched in September 2025, founded by Christopher Chan and Lee Jun Xian. Both had seen the trust gap up close.
Jun’s close friend lost S$80,000 in pre-payments to a renovation company that collapsed mid-project. At the same time, Christopher’s friend paid a deposit on a rental home she had never viewed, only to discover the listing was fraudulent. Both incidents pointed to the same structural failure: in service industries, someone always carries the risk, and when trust breaks down, there is little recourse on either side.
The two founders met as university classmates in London and returned to the problem with complementary backgrounds. Christopher Chan had spent his career in fintech, designing compliant payment flows on regulated infrastructure. Lee Jun Xian came from venture capital, with experience scaling early-stage companies from zero to one.
Trust as the foundation, not the feature
Handshake operates on bank-grade payment infrastructure provided by MAS-regulated partners. All payment flows are fully MAS regulated, and funds are held with DBS in segregated escrow accounts. For the founders, this is not a checkbox — it is the entire foundation of the business.
“We are trying to solve a structural trust gap in service industries. But before any of that, our users have to trust us,” said Christopher Chan, Co-Founder of Handshake Finance. “Making sure every fund flow is fully compliant, and that our users feel completely assured handing us money in what are often life-changing transactions, is our number one priority. Everything else is built on top of that.”
Closing the Trust Gap Across Service Industries
Every high-trust service transaction carries the same structural flaw: either the customer pays before work is done, or the provider works before getting paid. Someone always carries the risk. Across industries — from renovation and interior design to event planning, creative agencies, and professional services — that risk falls entirely on one side, and when trust breaks down, there is little recourse for either party.
Handshake Finance was built to close that gap. The platform holds customer funds in escrow and releases them to service providers against agreed milestones, giving buyers protection from pre-payment risk while giving service providers the confidence to deliver. The model is designed to work across any service industry where the payment trust problem exists.
Why Renovation and Interior Design Is Handshake’s Beachhead Market
Renovation was where the structural failure ran deepest. The industry operates with no mandatory licensing or regulatory framework. Anyone can set up as an interior designer with no accreditation required, leaving homeowners with no reliable way to assess accountability before signing a contract.
There is no standard payment framework either. Homeowners routinely pay up to 50% of the total project value upfront, with funds going directly to the interior designer before any work begins. If a project stalls or a firm shuts down, there is limited protection and recourse. At the other end of the project, interior designers face the opposite problem: the final handover payment, where homeowners hold most of the leverage, can be withheld over disputes that wipe out up to half a project’s margin.
Eight Months of Listening Before a Single Line of Code
Before writing any software, the Handshake team spent eight months speaking with more than 80 interior designers and homeowners across Singapore to understand the real frictions on both sides of the transaction. What they found reinforced the decision to start here: high transaction values, a broken payment norm, an unregulated supply side, and no existing platform that protected both parties.
That research shaped how the product was built. After a renovation contract is signed, Handshake’s AI automatically generates the transaction structure with line items, payment schedules, and sub-milestones set out clearly to remove ambiguity. Homeowners place funds into escrow rather than paying upfront directly to the interior designer.
Payment releases to the designer as work progresses against agreed milestones, with sub-milestone releases providing faster cashflow access without compromising homeowner protection. The platform also replaces the manual spreadsheet-based back-office admin most interior design firms still run, and offers complimentary mediation and independent assessments in the event of a dispute.
More than 40 Interior Design Companies Onboarded and 2 Major Partnerships Signed
Handshake now has more than 40 interior design companies onboarded. The company has signed partnerships with Renonation.sg and Network SG, two of Singapore’s most established renovation marketplaces, to drive awareness and adoption across the broader ecosystem.
“It is an incredible feeling to see this much support behind us, and we are excited about what is ahead,” said Lee Jun Xian, Co-Founder of Handshake Finance. “We are industry-agnostic by design, but we are laser-focused on fixing renovation first. The scams that are still everyday occurrences in this space need to go, and the transactional experience for everyone involved needs to be better before we turn our attention to the next industry or market.”
Homeowners and interior designers can learn more or request access at handshake.finance.
Hashtag: #HandshakeFinance
The issuer is solely responsible for the content of this announcement.
Handshake Finance is a Singapore-based fintech building escrow-as-a-service infrastructure for high-trust service industries. The platform holds customer funds in segregated escrow accounts and releases them against agreed milestones, protecting buyers from pre-payment risk while giving service providers the confidence to deliver. All payment flows are fully MAS regulated. Funds are held with DBS. Handshake is currently focused on Singapore’s renovation and interior design market as its beachhead, with plans to expand across other service industries and Southeast Asia.
Sui’s mainnet disruptions over May 28 and May 29 have put renewed pressure on the Layer-1 blockchain’s engineering controls after three separate halts were traced to bugs connected with its v1.72 software release and the handling of gas payments, validator restarts and on-chain randomness. The network has since returned to operation, but the episode has sharpened scrutiny of Sui’s upgrade process because the outages occurred in close […]
Spiro has raised $215 million in equity financing to expand its electric motorcycles, battery-swapping network and energy infrastructure across Africa, marking one of the largest funding rounds for the continent’s clean mobility sector. The Nairobi-based electric mobility platform said the investment was backed by institutional investors from Europe and Africa, including Impact Fund Denmark and Equitane, alongside continuing support from long-standing partners such as FEDA. The company […]
Scientists have identified a link between biological changes present at birth, the development of gut bacteria during infancy and early signs of autism spectrum disorder and attention-deficit/hyperactivity disorder by age three, raising fresh questions about how brain development may be shaped before and after delivery. A large birth-cohort study led by researchers at The Chinese University of Hong Kong’s Faculty of Medicine found that epigenetic marks in […]
Typhoon Jangmi lashed the Tokyo metropolitan area on Wednesday, bringing heavy rain, swollen rivers, power cuts and widespread disruption to air and rail services after striking central Japan and moving towards the country’s most densely populated region. The storm, classified as a severe tropical storm as it crossed parts of Japan, pushed flood risks higher across central and eastern prefectures, with authorities warning residents in vulnerable areas […]
Arabian Post Staff -Dubai Dubai Multi Commodities Centre has introduced a targeted acceleration package for its community of more than 26,000 companies, offering licence renewal discounts, penalty waivers and operational flexibility aimed at easing cost pressures and supporting business expansion from Dubai. The initiative is designed to reduce operating costs, improve cash flow and help companies navigate a more competitive global trading environment. It comes as businesses […]
Arabian Post Staff -Dubai Al Ansari Exchange recorded a sharp rise in companies using its Wage Protection System platform on June 1, as private-sector employers across the UAE moved to meet tighter salary-payment rules that took effect at the start of the month. The UAE remittance and foreign exchange company said the number of companies processing salaries through its WPS platform rose by more than 151 per […]
Attackers have compromised Red Hat’s official @redhat-cloud-services namespace on npm, inserting credential-stealing malware into dozens of package releases used in cloud console development and software build pipelines. The breach, identified on 1 June 2026, affected at least 32 package releases across the Red Hat Cloud Services ecosystem, including frontend components, generated API clients and supporting developer tooling linked to the Red Hat Hybrid Cloud Console. The malicious […]
A threat actor has used artificial intelligence coding tools to build and refine malware intended to bypass endpoint detection and response systems, highlighting how generative AI is being folded into practical cyberattack development rather than remaining a theoretical risk. The activity was presented as a red team project, but the discovered framework pointed to stealthy post-exploitation operations, including ransomware deployment and data theft. The case shows how […]
Zoom has launched ZoomMate, an agentic AI work surface designed to convert meeting conversations into completed tasks, documents and workflows, marking a deeper push by the video communications company into enterprise automation. The product, announced on June 1, is aimed at reducing the gap between workplace discussion and follow-through. It combines enterprise search, AI-generated content, workflow orchestration and automated execution across applications such as Salesforce, Jira, Slack, […]
Anthropic is expanding access to Claude Mythos Preview through Project Glasswing, widening a controlled cybersecurity programme at a time when North Korean-linked hackers are sharpening attacks against macOS users in the financial, venture capital, Web3 and cryptocurrency sectors. The San Francisco-based AI company plans to increase the number of Project Glasswing partners from about 50 to roughly 200 organisations across more than 15 countries, broadening access to […]
Enhancing Cross-Border Payment Experiences
Hashtag: #DigitalPayment #DigitalBanking #DigitalAsset #FinTech #AI
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[email protected]. Oil markets are heading towards a possible August inflection point as constrained flows through the Strait of Hormuz, recovering seasonal demand and disrupted supply chains combine to keep upward pressure on crude prices. Philippe Khoury, executive vice-president for sales and trading at ADNOC, told the Middle East Petroleum and Gas Conference in London that prices could move sharply higher if demand strengthens while the Iran war supply […]
Qatar Investment Authority has raised its exposure to Anthropic by joining the artificial intelligence company’s $65 billion Series H financing, marking its third consecutive investment in the Claude maker and signalling a deeper Gulf move into frontier AI infrastructure, enterprise software and advanced computing. The Series H round values Anthropic at $965 billion post-money, placing the San Francisco-based company among the most highly valued private technology groups […]
Arabian Post Staff -Dubai Abu Dhabi’s AD Ports Group has agreed to acquire Corredor Logística e Infraestrutura, a São Paulo-based agribulk terminal operator, in an AED3.1 billion deal that gives the company its first operating platform in Latin America and a stronger position in global food supply chains. The transaction, valued at about $835 million, is the largest acquisition undertaken by AD Ports Group and is expected […]
By T N Ashok The dust may have settled on the 2026 West Bengal Assembly election, but the political war has only intensified. Defeated former Chief Minister Mamata Banerjee has launched perhaps the most serious challenge yet to the legitimacy of the Bharatiya Janata Party’s sweeping victory, alleging that the saffron party manipulated electoral rolls, […]
The article Poll Results Were Out In Bengal A Month Ago, But Political Violence Is Still Continuing appeared first on Latest India news, analysis and reports on Newspack by India Press Agency).
BERLIN, GERMANY – Newsaktuell – 2 June 2026 – The Virchow Prize 2026 has been jointly awarded to Jean‑Jacques Muyembe and Peter Piot for their pioneering and enduring leadership in the discovery, control, and understanding of epidemic threats, and for advancing equitable, multilateral cooperation and governance that have fundamentally strengthened global preparedness and solidarity in the face of infectious disease outbreaks.
The announcement was made today by the Virchow Foundation which is granting the annual award. The selection of the laureates by the independent Virchow Prize Committee was preceded by a nomination period that ended on February 28, followed by a three-month deliberation period.
This moment resonates with particular historical gravity: 2026 marks both fifty years since the emergence of Ebola and a renewed confrontation with the virus through the current outbreak and unpreparedness.
According to the committee, the careers of Jean‑Jacques Muyembe and Peter Piot are anchored in a defining moment of modern infectious disease history: the first identified Ebola outbreak in 1976. Their collaboration demonstrated the necessity of crossing contextual, disciplinary and geographic boundaries, highlighting both the potential and the inequities inherent in global health partnerships. Over the decades, both Muyembe and Piot have worked – partly closely together, partly independent from each other in complementary ways – to transform epidemic research in an exemplary manner, firmly rooted in equity, reciprocity, and shared leadership.
Taken together, the laureates’ contributions illustrate a continuum that is central to advancing health for all: from discovery to delivery, from local response to global coordination, from emergency action to long-term system strengthening. Their work has directly improved the ability to detect, understand, and control deadly outbreaks, while also influencing broader frameworks for addressing global health challenges in a manner that is equitable and inclusive.
By awarding the Virchow Prize 2026 equally to Muyembe and Piot, their scientific achievements and their commitment to strengthening health systems and fostering global solidarity are honored. The laureates’ work embodies Rudolf Virchow’s legacy that health is inseparable from social organisation, governance, and collective responsibility.
Full Article and detailed Virchow Prize Committee jury rationale at www.virchowprize.org/vp2026
Contact: Virchow Foundation | Dorotheenstr. 83 | DE-10117 Berlin, Germany | [email protected]
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Abu Dhabi has launched an AI-powered parking payment system that automatically records vehicle entry and exit, calculates charges and deducts fees from the user’s Darb wallet without requiring tickets, machines, SMS messages or QR codes. The Free Flow Paid Parking System marks a further shift in the capital’s transport network towards automated, cashless mobility services. Q Mobility said the system uses automatic number plate recognition technology supported […]
HONG KONG SAR – Media OutReach Newswire – 2 June 2026 – The Hong Kong University of Science and Technology (HKUST) today successfully hosted its annual “Unicorn Day,” one of Hong Kong’s flagship innovation and entrepreneurship events. The event brought together over 1,800 participants, including students, faculty, and alumni, as well as international and local government representatives, industry partners, investors, innovation and technology entrepreneurs, and researchers. Participants exchanged insights on strategies to strengthen collaboration across the innovation ecosystem, foster cross-disciplinary partnerships, and accelerate the translation of research outcomes into real-world impact.
The event was officiated by Prof. SUN Dong, Secretary for Innovation, Technology and Industry of the HKSAR Government, alongside consuls-generals and senior officials from countries including Australia, Chile, France, Hungary, India, Japan, Malaysia, the Netherlands, Vietnam, and the United Arab Emirates. They were joined by Prof. Nancy IP, HKUST President; Prof. Lionel NI, HKUST (Guangzhou) President; and Prof. Tim CHENG, HKUST Vice-President for Research and Development; in touring over 100 HKUST-nurtured startups, showcasing innovations and applications spanning areas such as healthcare, electronics, and artificial intelligence systems, as well as new materials, green energy, and sustainability.
Prof. Sun Dong remarked, “Innovation and technology (I&T) has always been at the top of the Hong Kong SAR Government’s agenda. We fully recognise the crucial role of local universities — not only as key partners, but as the bedrock of Hong Kong’s I&T ecosystem. In just three and a half decades, HKUST has risen to become a global powerhouse in deep tech, entrepreneurship, and innovation as demonstrated by its ability to nurture unicorns and deep-tech ventures. Hong Kong is entering a golden era of I&T development. We are building new engines to drive Hong Kong’s high-quality development, focusing on research and development in key fields and leading industry applications. I am confident that Hong Kong will rise as a leading international I&T center and contribute meaningfully to our nation’s high-quality development, and that HKUST will continue to be a driving force in this amazing journey.”
President Ip said, “As we mark the 35th anniversary of HKUST this year, we also celebrate the spirit of innovation and entrepreneurship that has long been embedded in our DNA. Both the Technology Transfer Center and the Entrepreneurship Center were established in the University’s early years to support faculty and students in realizing their entrepreneurial aspirations and to promote the translation of research outcomes into practical solutions. Over the past 35 years, the University has forged ahead with determination, sowing the seeds of innovation and yielding remarkable achievements across multiple frontier fields. Today, HKUST continues to broaden its horizons, strategically positioning itself in key domains. One example is medical education. The establishment of the HKUST Medical School will integrate the life sciences with cutting-edge technologies to nurture a new generation of interdisciplinary medical professionals.
Concurrently, HKUST has been actively involved in national initiatives such as the Chang’E 8 lunar exploration mission and research projects for the Tiangong Space Station, and the launch of the first commercially viable aerospace project under the RAISe+ Scheme. These achievements exemplify HKUST’s enduring ‘can do’ spirit over the past decades and echo the theme of today’s event—’From Ideas to Miracles—35 Years of Impact and Beyond’. Looking ahead, HKUST will continue to nurture bold ideas and action, working hand in hand with partners across different sectors to cultivate a vibrant innovation ecosystem, ensuring that research achievements benefit society and create lasting global impact.”
To support startups in expanding into global markets and to promote cross-border collaboration, HKUST introduced an “International Pavilion,” featuring startups and innovation organizations from various countries and regions. Participants from Thailand, Singapore and Korea were among those represented, strengthening connections between Hong Kong, and countries and regions along the Belt and Road in technology application and industry development.
The event also saw the signing of multiple partnership agreements, including six strategic collaborations with:
to advance talent development and industry–academia integration, and foster innovation-driven research and real-world technology translation.
HKUST’s I&T Strength Driving Economic Growth
In addition, HKUST also released the report Driving Socioeconomic Impact Through Research and Innovation: Insights from HKUST, commissioned by the University and prepared by the international research information analytics organization Elsevier. The report highlights HKUST’s outstanding performance in innovation and entrepreneurship. Over the past five years, research output has recorded an average growth of 10%, approximately 9% higher than that of other local institutions. More than 65% of the research is concentrated in engineering and computer science, while 6.2% involves academia-industry collaboration, significantly higher than the global average of 2.7%. These collaborations have translated into impactful intellectual property, with approximately 1,670 patent applications and 700 grants over the same period, and a high IP utilization rate of above 30%.
Prof. Tim Cheng noted that the findings demonstrate HKUST’s steadily strengthening capabilities in research translation and academia-industry collaboration. HKUST’s publications achieved a Field-Weighted Citation Impact of 4.40, indicating that their citation impact is 4.4 times the global average. This underscores HKUST’s significant contributions to advancing Hong Kong’s socioeconomic development and enhancing its competitiveness in innovation and technology.
In addition, a “Marketplace” was also featured, showcasing products already launched by startups, including AI analytics tools, healthcare technologies, and smart city solutions, demonstrating the progress of translating research into practical applications.
Hashtag: #unicorn #unicornday #HKUST #partnership #innovation #startup #tech #AI #space #robotics #materialscience
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Financial markets are inherently complex systems shaped by price dynamics, capital flows, macroeconomic cycles, policy changes, and investor sentiment. Traditional financial modeling approaches, typically grounded in historical data, empirical assumptions, and linear analysis, face limitations in capturing such multidimensional interactions. AI for Science introduces new methodologies through simulation, advanced reasoning, and multivariable modeling, offering a broader analytical perspective.
The application of AI is not positioned as a replacement for traditional financial models, but as an enhancement to analytical capabilities in conditions of uncertainty. In areas such as asset valuation, risk exposure assessment, and macroeconomic scenario simulation, the central challenge lies in understanding variable interactions and maintaining model interpretability under extreme conditions. AI-driven approaches contribute to improved analysis by enabling more comprehensive scenario testing and deeper insight into systemic relationships.
Chow Kit Hui, founder of KitHui Growth Financial Academy, continues to monitor advancements in AI training architectures, algorithm optimization, and scientific research-grade artificial intelligence. Ongoing engagement with developments in intelligent decision-making and financial technology reflects a commitment to integrating emerging methodologies into financial research and education frameworks.
Insights from the Science x AI Summit 2026 indicate that the long-term value of AI extends beyond efficiency gains and content generation. Greater potential lies in supporting the analysis of complex systemic challenges. In financial applications, AI is not expected to eliminate risk or replace professional judgment; however, it can contribute to earlier risk identification, more robust assumption testing, and decision-making processes that more accurately reflect real-world complexity.
Hashtag: #ScienceXAI #ChowKitHui #AIforScience
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KitHui Growth Financial Academy focuses on advancing structured and long-term financial understanding across key areas including global asset allocation, corporate mergers and acquisitions, private equity, derivatives, risk management, macroeconomic research, and financial valuation modeling. The academy emphasizes systematic thinking and rational analysis rather than short-term market forecasting or speculative investment strategies.
Moscow’s main security agency said it had uncovered a foreign intelligence operation that placed spyware on mobile phones used by senior officials, intensifying Russia’s long-running confrontation with Western governments over cyber espionage, communications security and control of digital infrastructure. Russia’s Federal Security Service said the operation involved the compromise of thousands of devices, including phones used by officials, diplomats and people linked to government agencies. The agency […]
Hackers have used 34 malicious open-source packages across npm, PyPI and Crates. io to steal cloud credentials, crypto wallet data, SSH keys and developer secrets, exposing a widening security gap in software supply chains used by blockchain, artificial intelligence and cloud engineering teams. The campaign, tracked as TrapDoor, spans more than 384 package versions and artefacts. It targets developers working in cryptocurrency, DeFi, Solana, Sui, Move, AI […]
Meta Platforms is preparing an AI-powered pendant and a broader line-up of smart glasses as it tries to turn wearable hardware from a costly experiment into a larger business focused on consumers and corporate users. The plan, outlined in internal discussions reported by technology industry outlets, centres on a small AI pendant that could be tested within the next year, alongside new smart glasses and a business […]
