Capacity development

Banks join forces to create MiCAR-compliant digital currency

A group of European banks has launched plans for a MiCAR-compliant euro-denominated stablecoin. Founding members include ING, Banca Sella, KBC, Danske Bank, DekaBank, UniCredit, SEB, CaixaBank and Raiffeisen Bank International.

The stablecoin will leverage blockchain technology to provide a trusted digital payment standard across Europe. The digital currency will enable fast, low-cost, 24/7 payments, cross-border settlements, and more efficient digital asset and supply chain management.

Its introduction is expected in the second half of 2026, with regulatory oversight from the Dutch Central Bank as an e-money institution.

The initiative aims to create a European alternative to US-dominated stablecoins, strengthening Europe’s strategic autonomy in payments. Banks can offer services like stablecoin wallets and custody, boosting adoption and innovation in financial services.

Floris Lugt, Digital Assets lead at ING, highlighted the importance of collaboration: ‘Digital payments can bring transparency and efficiency through blockchain’s programmability and instant settlement. An industry-wide approach is essential, and banks must adopt common standards to succeed.’

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UN urges global rules to ensure AI benefits humanity

The UN Security Council debated AI, noting its potential to boost development but warning of risks, particularly in military use. Secretary-General António Guterres called AI a ‘double-edged sword,’ supporting development but posing threats if left unregulated.

He urged legally binding restrictions on lethal autonomous weapons and insisted nuclear decisions remain under human control.

Experts and leaders emphasised the urgent need for global regulation, equitable access, and trustworthy AI systems. Yoshua Bengio of Université de Montréal warned of risks from misaligned AI, cyberattacks, and economic concentration, calling for greater oversight.

Stanford’s Yejin Choi highlighted the concentration of AI expertise in a few countries and companies, stressing that democratising AI and reducing bias is key to ensuring global benefits.

Representatives warned that AI could deepen digital inequality in developing regions, especially Africa, due to limited access to data and infrastructure.

Delegates from Guyana, Somalia, Sierra Leone, Algeria, and Panama called for international rules to ensure transparency, fairness, and prevent dominance by a few countries or companies. Others, including the United States, cautioned that overregulation could stifle innovation and centralise power.

Delegates stressed AI’s risks in security, urging Yemen, Poland, and the Netherlands called for responsible use in conflict with human oversight and ethical accountability.Leaders from Portugal and the Netherlands said AI frameworks must promote innovation, security, and serve humanity and peace.

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Cyberattack on Jaguar Land Rover exposes UK supply chain risks

The UK’s ministers are considering an unprecedented intervention after a cyberattack forced Jaguar Land Rover to halt production, leaving thousands of suppliers exposed to collapse.

A late August hack shut down JLR’s IT networks and forced the suspension of its UK factories. Industry experts estimate losses of more than £50m a week, with full operations unlikely to restart until October or later.

JLR, owned by India’s Tata Motors, had not finalised cyber insurance before the breach, which left it particularly vulnerable.

Officials are weighing whether to buy and stockpile car parts from smaller firms that depend on JLR, though logistical difficulties make the plan complex. Government-backed loans are also under discussion.

Cybersecurity agencies, including the National Cyber Security Centre and the National Crime Agency, are now supporting the investigation.

The attack is part of a wider pattern of major breaches targeting UK institutions and retailers, with a group calling itself Scattered Lapsus$ Hunters claiming responsibility.

A growing threat that highlights how the country’s critical industries remain exposed to sophisticated cybercriminals, raising questions about resilience and the need for stronger digital defences.

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CFTC launches tokenised collateral initiative for derivatives

The Commodity Futures Trading Commission (CFTC) has announced a new initiative to allow tokenised collateral, including stablecoins, in derivatives markets.

Acting Chairman Pham said the move follows the February 2025 Crypto CEO Forum and advances the President’s Working Group report. The aim is to modernise collateral management, improve capital efficiency, and strengthen blockchain’s role in US financial markets.

Industry leaders said stablecoins like USDC can lower costs, unlock liquidity, and offer round-the-clock market access. Circle, Coinbase, Crypto.com, Ripple, and Tether praised the CFTC for providing clear rules on valuation, custody, and settlement for tokenised collateral.

Stablecoins are seen as a key part of modern finance, offering faster settlement, deeper liquidity, and greater market resilience. Experts said the initiative will strengthen US leadership in financial innovation and improve institutional efficiency and transparency.

The CFTC is inviting public feedback on the use of tokenised collateral, including stablecoins, in derivatives markets. Submissions will help shape regulations, pilot programmes, and advisory committee recommendations.

Comments can be submitted through the CFTC website until 20 October 2025, with all contributions published online.

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WhatsApp introduces message translations to break language barriers

WhatsApp is introducing message translations to make communication across languages easier for its global user base of over 3 billion people. The feature lets users translate messages directly in one-to-one chats, groups, or Channel updates.

Users can translate messages by pressing them long and selecting the desired language. Translations can be saved for future use, and Android users can enable automatic translation for entire chat threads so all incoming messages are translated automatically.

The translations are processed entirely on the user’s device, ensuring that WhatsApp cannot access the content of private messages. The on-device approach protects users’ privacy while facilitating seamless communication.

Message translations are rolling out gradually, starting with six languages for Android- English, Spanish, Hindi, Portuguese, Russian, and Arabic and 19+ languages for iPhone, with additional languages planned for the future. The update aims to help users break down language barriers and connect more easily worldwide.

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Gatik and Loblaw to deploy 50 self-driving trucks in Canada

Autonomous logistics firm Gatik is set to expand its partnership with Loblaw, deploying 50 new self-driving trucks across North America over the next year. The move marks the largest autonomous truck deployment in the region to date.

The slow rollout of self-driving technology has frustrated supply chain watchers, with most firms still testing limited fleets. Gatik’s large-scale deployment signals a shift toward commercial adoption, with 20 trucks to be added by the end of 2025 and an additional 30 by 2026.

The partnership was enabled by Ontario’s Autonomous Commercial Motor Vehicle Pilot Program, a ten-year initiative allowing approved operators to test automated commercial trucks on public roads. Officials hope it will boost road safety and support the trucking sector.

Industry analysts note that North America’s truck driver shortage is one of the most pressing logistics challenges facing the region. Nearly 70% of logistics firms report that driver shortages hinder their ability to meet freight demand, making automation a viable solution to address this issue.

Gatik, operating in the US and Canada, says the deployment could ease labour pressure and improve efficiency, but safety remains a key concern. Experts caution that striking a balance between rapid rollout and robust oversight will be crucial for establishing trust in autonomous freight operations.

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New Stargate sites create jobs and boost AI capacity across the US

OpenAI, Oracle, and SoftBank are expanding their Stargate AI infrastructure with five new US data centre sites. The addition brings nearly 7 gigawatts of capacity and $400 billion in investment, putting the partners on track to meet the $500 billion, 10-gigawatt commitment by 2025.

Three of the new sites- located in Shackelford County, Texas; Doña Ana County, New Mexico; and a forthcoming Midwest location, are expected to deliver over 5.5 gigawatts of capacity. These developments are expected to create over 25,000 onsite jobs and tens of thousands more nationwide.

A potential 600-megawatt expansion near the flagship site in Abilene, Texas, is also under consideration.

The remaining two sites, in Lordstown, Ohio, and Milam County, Texas, will scale to 1.5 gigawatts over 18 months. SoftBank and SB Energy are providing advanced design and infrastructure to enable faster, more scalable, and cost-efficient AI compute.

The new sites follow a rigorous nationwide selection process involving over 300 proposals from more than 30 states. Early workloads at the Abilene flagship site are already advancing next-generation AI research, supported by Oracle Cloud Infrastructure and NVIDIA GB200 racks.

The expansion underscores the partners’ commitment to building the physical infrastructure necessary for AI breakthroughs and long-term US leadership in AI.

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The UK’s invisible AI workforce is reshaping industries

According to a new analysis from Multiverse, the UK’s AI workforce is expanding far beyond traditional tech roles. Nurses, lecturers, librarians, surveyors, and other non-tech professionals increasingly apply AI, forming what experts call an ‘invisible AI workforce.’

Over two-thirds of AI apprentices are in roles without tech-related job titles, highlighting the widespread adoption of AI across industries.

An analysis of more than 2,500 Multiverse apprentices shows that AI is being applied in healthcare, education, government administration, financial services, and construction sectors. AI hotspots are emerging beyond London, with clusters in Trafford, Cheshire West and Chester, Leeds, and Birmingham.

Croydon leads among London boroughs for AI apprentices, followed by Tower Hamlets, Lewisham, and Wandsworth.

The UK’s AI workforce is also demographically diverse. Apprentices range in age from 19 to 71, with near-equal gender representation- 45% female and 54% male- compared with just 22% of women in AI roles nationwide.

Workers at all career stages are reskilling with AI, using the technology to address real-world problems, such as improving patient care or streamlining charity services.

Multiverse has trained over 20,000 apprentices in AI, data, and digital skills since 2016 and aims to train another 15,000 in the next two years. With 1,500 companies involved, the platform is helping non-tech workers use AI to boost productivity and innovation across the UK.

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AI-driven remote fetal monitoring launched by Lee Health

Lee Health has launched Florida’s first AI-powered birth care centre, introducing a remote fetal monitoring command hub to improve maternal and newborn outcomes across the Gulf Coast.

The system tracks temperature, heart rate, blood pressure, and pulse for mothers and babies, with AI alerting staff when vital signs deviate from normal ranges. Nurses remain in control but gain what Lee Health calls a ‘second set of eyes’.

‘Maybe mum’s blood pressure is high, maybe the baby’s heart rate is not looking great. We will be able to identify those things,’ said Jen Campbell, director of obstetrical services at Lee Health.

Once a mother checks in, the system immediately monitors across Lee Health’s network and sends data to the AI hub. AI cues trigger early alerts under certified clinician oversight and are aligned with Lee Health’s ethical AI policies, allowing staff to intervene before complications worsen.

Dr Cherrie Morris, vice president and chief physician executive for women’s services, said the hub strengthens patient safety by centralising monitoring and providing expert review from certified nurses across the network.

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UN General Assembly highlights threats of unregulated technology

World leaders opened the 80th UN General Debate with a strong call to keep technology in the service of humanity, warning that without safeguards, rapid advances could widen divides and fuel insecurity. Speakers highlighted the promise of AI, digital innovation, and new technologies, but stressed that global cooperation is essential to ensure they promote development, dignity, and peace.

A recurring theme was the urgent need for universal guardrails on AI, with concerns over regulation lagging behind its fast-paced growth. Delegates from across regions supported multilateral governance, ethical standards, and closing global capacity gaps so that all countries can design, use, and benefit from AI.

While some warned of risks such as inequality, social manipulation, and autonomous weapons, others emphasised AI’s potential for prosperity, innovation, and inclusive growth.

Cybersecurity and cybercrime also drew attention, with calls for collective security measures and anticipation of a new UN convention against cybercrime. Leaders further raised alarms over disinformation, digital authoritarianism, and the race for critical minerals, urging fair access and sustainability.

Across the debate, the unifying message was clear. The technology must uplift humanity, protect rights, and serve as a force for peace rather than domination.

For more information from the 80th session of the UN General Assembly, visit our dedicated page.

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