Digital business models

Stablecoins, tokenisation, and AI to feature at Fed event

The Federal Reserve Board will hold a conference on payments innovation on 21 October, focusing on emerging technologies in US payment systems. Regulators, academics, and industry participants will explore ways to enhance the safety, efficiency, and accessibility of payments.

Panel discussions will cover stablecoins, tokenised assets, AI in payments, and the convergence of traditional and decentralised finance. The event highlights how digital assets are increasingly viewed alongside conventional payment methods, reflecting their growing role in financial systems.

The conference will be livestreamed on the Fed’s website, with further details forthcoming.

Experts emphasise the need for clear, unified rules to enable tokenised credit and liquidity markets to scale without fragmentation. Artificial intelligence is also moving into the core of payments, with applications in fraud detection, credit assessment, and risk management.

The Fed’s event adds to a busy Q4 policy calendar, alongside initiatives from the SEC, CFTC, BIS, and MAS. Officials stress that innovation in payments is a constant, with new technologies complementing existing systems rather than replacing them.

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AI-powered home cinema and smart appliances unveiled by Hisense at IFA 2025

Hisense will debut AI-powered innovations at IFA 2025 under the theme ‘AI Your Life,’ showcasing entertainment, smart homes, and climate-friendly technologies. The company aims to make AI seamless and personal.

Entertainment highlights include the 116-inch RGB-MiniLED UX TV with 8,000 nits brightness, plus new laser projectors offering IMAX-level clarity and portability for home cinema and gaming.

Appliances get smarter with the PureFlat refrigerator, featuring a 21-inch screen for cooking, streaming, and AI art. ConnectLife agents will optimise chores and energy use in daily routines.

The U8 S Pro Air Conditioner brings presence detection, AI voice controls, and air purification, while Hisense expands into smart buildings, energy systems, and automotive climate solutions.

Combining advanced display technologies with next-gen appliances, Hisense says its innovations will empower people to live more freely and confidently across global markets.

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India and the US lead global crypto adoption

India remains the world leader in cryptocurrency adoption, topping retail, institutional, and DeFi categories, according to Chainalysis. The country’s strong performance reflects growing grassroots engagement and widespread mobile-first financial services.

The United States climbed to second place from fourth last year, boosted by regulatory clarity and increasing institutional participation. Pakistan, Vietnam, Brazil, and Nigeria also rank highly, reflecting crypto’s growing role in remittances, stablecoins, and emerging-market finance.

Asia-Pacific emerged as the fastest-growing region over the past year, posting a 69% increase in on-chain transaction volume to $2.36 trillion. India, Vietnam, and Pakistan contributed heavily to this growth, signalling the region’s increasing influence in global crypto markets.

North America and Europe maintained the largest absolute transaction volumes, with $2.2 trillion and $2.6 trillion respectively. North America’s 49% growth was supported by spot Bitcoin ETFs and regulatory clarity, while Europe recorded a 42% increase from an already high base.

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China and India adopt contrasting approaches to AI governance

As AI becomes central to business strategy, questions of corporate governance and regulation are gaining prominence. The study by Akshaya Kamalnath and Lin Lin examines how China and India are addressing these issues through law, policy, and corporate practice.

The paper focuses on three questions: how regulations are shaping AI and data protection in corporate governance, how companies are embedding technological expertise into governance structures, and how institutional differences influence each country’s response.

Findings suggest a degree of convergence in governance practices. Both countries have seen companies create chief technology officer roles, establish committees to manage technological risks, and disclose information about their use of AI.

In China, these measures are largely guided by central and provincial authorities, while in India, they reflect market-driven demand.

China’s approach is characterised by a state-led model that combines laws, regulations, and soft-law tools such as guidelines and strategic plans. The system is designed to encourage innovation while addressing risks in an adaptive manner.

India, by contrast, has fewer binding regulations and relies on a more flexible, principles-based model shaped by judicial interpretation and self-regulation.

Broader themes also emerge. In China, state-owned enterprises are using AI to support environmental, social, and governance (ESG) goals, while India has framed its AI strategy under the principle of ‘AI for All’ with a focus on the role of public sector organisations.

Together, these approaches underline how national traditions and developmental priorities are shaping AI governance in two of the world’s largest economies.

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CJEU confirms Zalando’s status as very large online platform under DSA

On 25 April 2023, the European Commission designated Zalando, as a ‘very large online platform’ (VLOP) under the Digital Services Act (DSA), noting that over 83 million people used the platform monthly, well above the 45 million threshold. As a VLOP, Zalando is subject to stricter obligations, particularly in protecting consumers and preventing the spread of illegal content.

Zalando contested this designation before the General Court of the European Union, arguing that only its third-party seller section (the Partner Programme) should qualify as an online platform under the DSA, not its direct retail operations (Zalando Retail).

The Court rejected Zalando’s arguments and upheld the Commission’s decision. It ruled that Zalando qualifies as a VLOP due to its Partner Programme. Since Zalando could not distinguish between users exposed to third-party seller content and those who were not, the Commission was entitled to consider all 83 million users as active recipients.

The Court also dismissed Zalando’s claims that the DSA violated legal certainty, equal treatment, and proportionality principles. It highlighted the potential for large platforms to facilitate the distribution of dangerous or illegal goods. As such, Zalando remains subject to the enhanced responsibilities imposed on very large online platforms under the DSA.

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Singapore mandates Meta to tackle scams or risk $1 million penalty

In a landmark move, Singapore police have issued their first implementation directive under the Online Criminal Harms Act (OCHA) to tech giant Meta, requiring the company to tackle scam activity on Facebook or face fines of up to $1 million.

Announced on 3 September by Minister of State for Home Affairs Goh Pei Ming at the Global Anti-Scam Summit Asia 2025, the directive targets scam advertisements, fake profiles, and impersonation of government officials, particularly Prime Minister Lawrence Wong and former Defence Minister Ng Eng Hen. The measure is part of Singapore’s intensified crackdown on government official impersonation scams (GOIS), which have surged in 2025.

According to mid-year police data, Gois cases nearly tripled to 1,762 in the first half of 2025, up from 589 in the same period last year. Financial losses reached $126.5 million, a 90% increase from 2024.
PM Wong previously warned the public about deepfake ads using his image to promote fraudulent cryptocurrency schemes and immigration services.

Meta responded that impersonation and deceptive ads violate its policies and are removed when detected. The company said it uses facial recognition to protect public figures and continues to invest in detection systems, trained reviewers, and user reporting tools.

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PayPal expands crypto payments with new settlement tool

PayPal has introduced ‘Pay with Crypto,’ a settlement feature that lets US merchants accept over 100 digital currencies, including Bitcoin, Ether, Solana, and stablecoins. Shoppers pay from wallets like MetaMask or Coinbase, and merchants receive instant payouts in dollars or PYUSD.

The service is designed to eliminate volatility risks by automatically converting crypto into fiat or stablecoins. Merchants benefit from near-instant settlement, lower fees than traditional card payments, and optional yield on PYUSD balances.

Small and medium-sized enterprises are expected to gain the most from global reach, quicker cash flow, and reduced costs.

For consumers, the process mirrors card payments. Buyers simply connect a wallet at checkout and pay in crypto, while merchants receive stable-value settlements.

The system enables non-custodial wallet users to spend crypto directly, turning digital assets into usable currency without relying on exchanges.

PayPal’s long-term goal is to create a global crypto-enabled infrastructure. With partnerships such as Fiserv and its upcoming World Wallet alliance, PayPal plans to integrate stablecoins and enable seamless cross-border payments through Fiserv and its World Wallet alliance.

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AI improves detection of dangerous plaques linked to heart risk

Researchers have shown that AI can analyse coronary scans after a heart attack and predict future risks better than traditional review. The findings come from the PECTUS-AI study, published in the European Heart Journal.

Using optical coherence tomography, the AI algorithm identified vulnerable plaques across entire artery segments.

Patients with these thin-cap fibroatheromas were found to have significantly higher rates of death, repeat heart attacks or unplanned procedures over two years.

Manual frame-by-frame review by specialists remains time-consuming and inconsistent, while AI delivers a faster and more standardised assessment.

Researchers say further validation is needed before routine adoption, but the technology could play an important role in secondary prevention.

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MyRepublic unveils AI Automation Box for SMEs

Telecom operator MyRepublic has launched the AI Automation Box, a plug-and-play server aimed at helping SMEs automate operations.

The company says the device allows firms to build AI-driven workflows quickly without the need for expensive consultants or large IT teams.

Designed for organisations with 20 to 200 staff, the AI Automation Box combines a no-code workflow builder with options for custom coding.

It comes preloaded with large language models from providers such as OpenAI, Meta and DeepSeek, supported by enterprise-grade GPU hardware.

To support adoption, MyRepublic offers over 100 ready-made templates, tutorials and access to its AI Academy. Typical use cases include customer service, invoicing, reporting, and HR functions, with the system available at $255 a month.

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Hackers exploit Ethereum smart contracts to spread malware

Cybersecurity researchers have uncovered a new method hackers use to deliver malware, which hides malicious commands inside Ethereum smart contracts. ReversingLabs identified two compromised NPM packages on the popular Node Package Manager repository.

The packages, named ‘colortoolsv2’ and ‘mimelib2,’ were uploaded in July and used blockchain queries to fetch URLs that delivered downloader malware. The contracts hid command and control addresses, letting attackers evade scans by making blockchain traffic look legitimate.

Researchers say the approach marks a shift in tactics. While the Lazarus Group previously leveraged Ethereum smart contracts, the novel element uses them as hosts for malicious URLs. Analysts warn that open-source repositories face increasingly sophisticated evasion techniques.

The malicious packages formed part of a broader deception campaign involving fake GitHub repositories posing as cryptocurrency trading bots. With fabricated commits, fake user accounts, and professional-looking documentation, attackers built convincing projects to trick developers.

Experts note that similar campaigns have also targeted Solana and Bitcoin-related libraries, signalling a broader trend in evolving threats.

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