TokenPocket, a global crypto wallet, has partnered with Swiss-regulated Web3 banking platform Fiat24 to simplify the use of digital currencies in everyday transactions. While over 600 million people worldwide own crypto, spending it on daily purchases remains complicated due to conversion processes and fees. The collaboration aims to bridge this gap by making crypto spending easier.
TokenPocket supports various blockchain networks, including Bitcoin, Ethereum, and Solana, allowing users to securely manage their assets. Fiat24 brings decentralised banking to the table, using blockchain technology to manage operations via smart contracts. The integration enables users to seamlessly convert and spend their crypto.
The TP Card, born from this collaboration, allows users to spend their crypto just like traditional currency. Available across 32 European countries, it can be linked with Apple Pay and Google Pay, making crypto transactions as easy as regular card payments. The partnership is poised to reshape global finance by merging digital assets with everyday spending.
Republican presidential candidate Donald Trump revealed that he spoke with Apple CEO Tim Cook about the financial penalties imposed on the tech giant by the European Union. Trump claimed that Cook informed him about a recent $15 billion fine from the EU, along with an additional $2 billion penalty, although Apple has not confirmed the details of the call.
The EU is investigating major tech companies to limit their influence and promote fair competition for smaller businesses. Recently, Apple encountered major challenges, including a court ruling that required the company to pay about $14 billion in back taxes to Ireland. Additionally, Apple was hit with a $2 billion antitrust fine for allegedly restricting competition in the music streaming sector via its App Store.
During the podcast with Patrick Bet-David, Trump expressed his commitment to protect American companies from what he described as unfair treatment. He stated, ‘Tim, I got to get elected first. But I’m not going to let them take advantage of our companies.’ Trump and Democrat Kamala Harris are currently in a tight race for the 5 November presidential election.
The Central Bank of the UAE has given preliminary approval to AED Stablecoin, positioning it to be the first regulated stablecoin pegged to the dirham in the country. The move follows the bank’s recent licensing framework, which restricts crypto payments to licensed dirham-pegged tokens, easing previous concerns over potential restrictions on crypto use.
If fully licensed, AED Stablecoin’s AE Coin could become a local trading pair for cryptocurrencies and be used by merchants for payments. Issuers of the stablecoin must back it with cash reserves held in UAE banks or a combination of cash and government bonds.
The UAE’s favourable regulatory environment has been attracting major players in the crypto space. While AED Stablecoin faces competition from Tether, OKX has launched a new trading platform, and M2 has introduced a system allowing direct dirham conversions to Bitcoin and Ether.
Meta has joined forces with Blumhouse, the Hollywood studio renowned for horror films, to test its new AI-driven video tool called Movie Gen that creates custom 1080p videos with sound using text-based inputs, offering filmmakers innovative ways to visualise their ideas.
The pilot project engaged prominent filmmakers, including Aneesh Chaganty, Casey Affleck, and The Spurlock Sisters, who integrated AI-generated clips into their films. Chaganty’s work is already featured on the Movie Gen website, with other contributions set to appear soon. The collaboration demonstrates how AI can become a creative partner, expanding artistic possibilities through responses to text prompts and advanced sound effects.
Blumhouse CEO Jason Blum praised the initiative, stating that these tools could empower artists to tell better stories and stressed the importance of involving creators early in the development phase. Meta aims to continue refining the tool by extending the pilot programme through 2025, encouraging user feedback to enhance its capabilities.
Alongside this initiative, Meta has expanded its AI chatbot, Meta AI, to 21 markets, including the UK and Brazil. Seen as a competitor to ChatGPT, Meta AI supports multiple languages, targeting 500 million monthly active users globally.
Schneider Electric has announced an $850 million deal to acquire a 75% controlling stake in Motivair Corp, a US company specialising in liquid cooling solutions for high-performance computing. The French firm expects to complete the all-cash deal in the coming quarters, with plans to acquire the remaining stake by 2028. The acquisition is part of Schneider’s strategy to expand its offerings for the rapidly growing data centre market, which increasingly demands efficient cooling solutions for technologies like generative AI.
Motivair, located in Buffalo, New York, manufactures advanced cooling systems that pump coolant directly near chips, efficiently managing the heat produced by high-performance computing—something traditional air cooling struggles to do. Schneider CEO Peter Herweck emphasised the expansion of the data centre and networks sector, which accounted for 21% of the company’s 2023 orders, approximately 8 billion euros. He also noted strong global demand for these technologies.
Herweck stated that Schneider is not actively pursuing further acquisitions in the data centre sector but remains open to opportunities as they emerge. The company’s shares have climbed 31% this year, driven by its strong market presence and the growing demand for advanced cooling solutions in data centres.
The Mekong-US Partnership (MUSP) recently hosted a policy dialogue on online scams, bringing together government representatives from Thailand, the US, and Vietnam. The seminar, held in Bangkok, focused on addressing cybersecurity issues and fostering cooperation to combat online crime across the Mekong region. The event was organised by the Ministry of Foreign Affairs and the Stimson Center, with support from the US Department of State.
Discussions centred around strategies to prevent online scams, enhance risk management, and ensure the security of digital financial systems. Thai officials, including Ekapong Harimcharoen from the Ministry of Digital Economy and Society, highlighted national policies and shared insights with international partners. Participants explored collaborative efforts to build a secure online environment and promote regional connectivity under the MUSP framework.
Thailand is taking significant steps to expand its digital economy, projected to contribute 11% to GDP by 2027. Several laws and initiatives are already in place, such as the Personal Data Protection Act (PDPA) and the Cyber Security Act. These measures aim to protect data, promote responsible AI development, and safeguard critical infrastructure sectors including healthcare, banking, and telecommunications.
With remote work and cloud technologies becoming more prominent, the demand for cybersecurity solutions is growing. Thailand aims to position itself as a regional leader in information and communications technology while tackling the evolving challenges of cybercrime. Cooperation under the MUSP framework is expected to enhance resilience in the digital landscape of the Mekong sub-region.
Siam Commercial Bank has launched Thailand’s first cross-border payment system powered by stablecoins, aiming to revolutionise international transactions. Partnering with SCB 10X and Lightnet, the system uses stablecoins pegged to gold or the US dollar to offer faster, more cost-effective transfers, allowing users to transact in local currencies.
The innovative payment network runs on a public blockchain, with Fireblocks ensuring the highest level of asset security. By eliminating the need for pre-funded accounts with foreign banks, SCB’s new system reduces operational costs and enhances capital efficiency.
Having completed testing in Thailand’s regulatory sandbox, the project is now fully operational, setting a new benchmark for blockchain-driven financial services and solidifying SCB’s leadership in the digital banking sector.
The Cybersecurity Association of China (CSAC) has urged a security review of Intel’s products in China, alleging that the US chipmaker poses a national security risk. Although CSAC is an industry group, it has strong connections to the Chinese government, and its claims may prompt action from the Cyberspace Administration of China (CAC).
CSAC’s post on WeChat accuses Intel’s chips, including its Xeon processors used for AI, of containing vulnerabilities and backdoors allegedly tied to the US NSA. The group warns that using Intel products threatens China’s national security and critical infrastructure.
This recommendation comes amid growing US-China tensions over technology and trade. Last year, the CAC banned Chinese infrastructure operators from using products from Micron Technology after a security review, raising concerns that Intel could face a similar outcome.
Intel’s China unit responded, emphasising its commitment to product safety and quality. The company stated on its WeChat account that it will cooperate with authorities to clarify concerns. If the CAC carries out a security review, it could impact Intel’s sales in its significant Chinese market. Intel’s shares recently dropped 2.7% in US premarket trading.
The European Commission has determined that X, Elon Musk’s social media platform, does not qualify as a ‘gatekeeper’ under the Digital Markets Act (DMA), exempting it from additional compliance obligations. The Commission’s decision follows a May investigation initiated after X asserted it was not a key intermediary between businesses and consumers. While X meets user thresholds and turnover criteria, the Commission clarified that it does not significantly connect business users with end consumers.
Under the DMA, which took effect in 2023, companies must have at least 45 million end users and 10,000 business users in Europe, along with an annual turnover of €7.5 billion over the last three years, to be classified as gatekeepers. Major tech firms like Google, Amazon, Apple, Meta, Microsoft, and TikTok’s parent company ByteDance have already received gatekeeper status, imposing on them strict regulations to ensure fair competition and consumer choice.
Apple has faced penalties under the DMA, with the European Commission ruling in June that its App Store practices violated the regulations. While several companies, including Apple and Meta, have appealed their gatekeeper designations, X remains unaffected by these rules for now. This decision allows X more operational flexibility compared to its competitors, although it indicates that the Commission is closely monitoring the interactions between large platforms, businesses, and consumers in the digital marketplace.
Many EU member states are set to miss the October 17 deadline to implement the Network and Information Security Directive (NIS 2), aimed at enhancing cybersecurity for critical sectors. Only Belgium, Croatia, Italy, and Lithuania have made partial progress, while others like Germany and the Netherlands have pending legislation, and countries such as Ireland and Spain lag further behind. The directive, approved in 2022, expands protections for sectors like energy, transport, banking, and water, and replaces the previous NIS1 directive, which failed to boost cyber resilience.
Businesses are concerned about the fragmented implementation and compliance challenges, particularly for companies operating across multiple markets. The European Federation of National Associations of Water Services (EurEau) warned that delays create uncertainty for water operators, who may need financial support to meet cybersecurity requirements. Similarly, the software lobby group BSA criticised the lack of guidance on incident reporting, a key aspect of NIS 2.
The European DIGITAL SME Alliance expressed worries for small and medium enterprises that might be impacted if they are part of larger companies’ supply chains under NIS 2. The directive mandates penalties for non-compliance, including fines of up to €10 million or 2% of global revenue, and holds senior management accountable for security breaches, signaling a shift in responsibility beyond IT departments.
