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  • Study: More than half of the world’s population will use mobile wallets by 2025

    Study: More than half of the world’s population will use mobile wallets by 2025

    The biggest report ever on the growth of mobile wallets projects that one in two people will use a mobile wallet by 2025. At the end of 2020, there were over 2.8 billion mobile wallets in use. That number is projected to increase by nearly 74% to reach 4.8 billion mobile wallets in use by the end of 2025 – nearly 60% of the world’s population. The fastest-growing markets are Southeast Asia, Latin America, and Africa & Middle East where mobile wallets are displacing cash and cards for more convenient digital payments.

    Boku, a fintech pioneering the world’s first global mobile payments network, has released its 2021 Mobile Wallets Report in partnership with digital technology analyst house Juniper Research, which provides insight into mobile wallet adoption and use in leading markets across the globe. In 2019, mobile wallets overtook credit cards to become the most widely used payment type globally and the shift to online driven by the pandemic has accelerated adoption. Mobile wallets use is growing rapidly across the world with emerging markets leading the way.

    Key findings

    – Southeast Asia is the fastest-growing mobile wallet region
    Mobile wallet use will grow by 311% between 2020-2025, reaching up 439.7 million wallets in use across Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam from 141.1 million in 2020. The rise in e-Commerce and the dominance of super-apps like Grab and Gojek, particularly in markets like the Philippines and Indonesia, is driving accelerated mobile wallet adoption.

    – China reaches maturity but Japan, Korea and Taiwan set for hyper-growth
    The Far East and China continue to be the largest mobile wallet region in the world with 1.34bn users in 2020. Market saturation is resulting in slowing growth in China with a CAGR of just 2.2% per year. Meanwhile, markets including Japan, Korea and Taiwan will continue to see accelerated adoption of mobile wallets with 98.4% market penetration by 2025.

    – Africa & Middle East is the second biggest mobile wallet market
    The second-biggest mobile wallet market is set to grow by 147% between 2020-2025. This is driven by expanded usage of mobile money services such as M-Pesa which are increasingly offering additional services such as access to eCommerce.

    – Latin American growth is being supercharged by eCommerce
    This region is set to increase mobile wallet use by 166% between 2020-2025. Long-held back by consumers’ preference for cash-based payments and comparatively lower smartphone penetration, this is fast-changing, and the region’s eCommerce growth is supercharging mobile wallet use.

    – Slow growth in Western Europe and North America
    With 65% growth in Western Europe and 50% in North America by 2025, these regions will see the least amount of mobile wallet growth in the next five years. However, markets such as the UK are seeing a rise in card-based mobile wallets due to the adoption of contactless spurred on by the pandemic and shift towards cashlessness.

    “While mobile wallets are being used on a global basis, we see two distinct types being used today. One is card-based mobile wallets, like Apple Pay and Google Pay, which provide an easier way to pay with cards people already have. The other is stored value mobile wallets, like AliPay and GrabPay, that enable consumers to transact with digital cash and are popular in emerging markets with fast-growing e-Commerce sectors,” said Adam Lee, Chief Product Officer at Boku. “The markets that are set to grow the fastest are those with the lowest levels of card penetration, stored value wallets are thriving. In North America and Western Europe, which are dominated by card-based mobile wallets, we are seeing the slowest growth in mobile wallet adoption, as the technology provides merely incremental benefit.”

    “We are seeing a clear bifurcation in the market between card-based mobile wallets in developed markets and stored value mobile wallets that are ubiquitous in Asia and rapidly growing in all emerging markets,” concluded Lee.

    “Southeast Asia is one of the most rapidly digitalizing regions in the world. In 2020, the region added 400 million new internet users, with 70% of the region now online. Together with consumption trends brought about due to lockdowns during the pandemic, that has led to a familiarity with e-Commerce and an exponential rise in mobile wallet use,” said Loke Hwee Wong, Vice President and General Manager, APAC at Boku. “This is also because the region was heavily dependent on cash and bank transfer before mobile wallet use, and the convenience and accessibility, especially with stored value mobile wallets, will see Southeast Asia leapfrog the rest of the world in mobile payment adoption.”

    The growth and bifurcation of mobile wallet use present both an opportunity and challenge for merchants. The number of mobile wallets transacting over $1 billion per year is set to grow by 27% from 54 wallets in 2020 to 69 wallets by 2025. This provides a lucrative opportunity for merchants looking to acquire valuable customers, many of whom only use mobile wallets. However, not only are consumers using mobile wallets more, they are using more mobile wallets. Consumers in high-growth markets such as India and Indonesia use an average of 2.74 wallets. This means that not only do merchants need to accept wallets but they need to ensure broad coverage across each target market.

    “We are witnessing a paradigm shift in payments driven by mobile wallets. Mobile wallets have lowered the barrier to making digital payments and in parallel ushered billions of new consumers into eCommerce. These consumers are not in North America or Western Europe, they are in emerging markets, and while they don’t have credit cards, they overwhelmingly have mobile wallets,” said Jon Prideaux, CEO at Boku. “For global merchants, mobile payment acceptance is not about accepting one type of mobile wallet or another, but ensuring that consumers in every market will have the required selection on payment types in order to monetize transactions.”

    To download the 2021 Mobile Wallets Report please visit our website.

    About Boku

    Boku Inc. (AIM: BOKU) is a fintech pioneering the world’s first global, mobile payments network. With 45% of global consumers using mobile payment methods to buy goods online, compared to 18% using credit cards, the future of commerce is mobile-first. Boku’s technology platform helps the world’s most demanding merchants attract, convert, and retain customers using mobile payments. By turning payments infrastructure into a source of sustainable competitive advantage, Boku safely activates a range of new merchant business models – from bundling to subscriptions.

    Boku’s platform is used in over 70 countries with more than a billion verified transactions in 2020, contributing $8.5 billion to the digital economy. Customers that trust Boku to simplify sign-up, acquire new paying users and prevent fraud include global leaders such as Apple, DAZN, Facebook, Google, Microsoft, Netflix, PayPal, Sony, Spotify and Tencent.

    Boku Inc. was incorporated in 2008 and is headquartered in London, UK, with offices in Brazil, China, Estonia, France, Germany, India, Indonesia, Japan, Singapore, Spain, Taiwan, Vietnam, and the US. To learn more about Boku please visit our website.

    About Juniper Research

    Juniper Research provides research and analytical services to the global hi-tech communications sector, providing consultancy, analyst reports and industry commentary.

    Inquiries:
    PRecious Communications for Boku, Inc.
    Singapore/Asia Pacific: Clarence Lim, boku@preciouscomms.com

    Boku in Asia

    In Asia, Boku’s payment partners for Mobile Wallets include: AliPay, Dana, GCash, GoPay, GrabPay, KakaoPay, LINE Pay, Ovo, PayMaya, PayPay, Toss, Touch ‘n Go, Truemoney.

    Boku also partners with payment partners to offer Direct Carrier Billing: AIS, BSNL, Celcom, Digi, dtac, Globe, Indosat Ooredoo, Jio, Korea Telecom, KDDI, LG U+, Maxis, M1, NTT Docomo, StarHub, Singtel, Softbank, SK Telecom, Smart, Smartfren, Tata Docomo, Telkomsel, Three, TrueMove, Vodafone, XL (amongst others).

    Additional insights from the Mobile Payments Report 2021

    Other insights from the Southeast Asian region include:
    1. Indonesia represents one of the greatest opportunities for merchants accepting mobile payments: its mobile wallet penetration is at 25.6% in 2020, and set to triple to 76.5% by 2025. The report also expects that mobile wallet transactions will increase by volume to 16 billion transactions in 2025 (from 1.7 billion in 2020), and $107 billion in 2025 (from $28 billion in 2020) – the highest in the region.
    2. Malaysia mobile payment adoption is behind other Southeast Asian countries currently, at a 31.7% penetration rate, but is poised for hyper-growth over the next five years to 93.9%.
    3. Philippines has one of the lowest levels of mobile wallet penetration at 22.4% of the population, but expected to grow to 63.4% by 2025 with a mobile wallet transaction value of $63.4 billion by 2025 (from $15 billion in 2020).
    4. Singapore is set to reach mobile wallet penetration of nearly 95% by 2025 from 30.4% in 2020 – the highest in the Southeast Asian region, and with mobile wallet transactions projected to increase by 11x (from 101 million transaction volume in 2020, to 1.1 billion in 2025).
    5. Mobile wallet penetration in Thailand is at 21.4% in 2020 and set to grow to 63.4% in 2025. The country is also set to hit $36.7 billion in transaction value in 2020 (from $10.6 billion in 2020).
    6. Vietnam is primed for massive mobile payments growth – with mobile wallet transaction growth of 7x expected to 5 billion by 2025 from 674 million in 2020, and a mobile wallet penetration rate of 55.5% in 2025 (from 19.7% in 2020).

    As part of the Mobile Payments Report 2021, Boku also conducted an in-depth consumer survey of 1035 respondents in Indonesia, during May 2021, which showed that:
    1. Consumers use an average of 3.2 wallets in use per respondent, one of the highest in the world after India. The top reason for using more than one type of mobile wallet included different wallets giving different benefits (63%).
    2. Cash was the payment type that is most in use prior to mobile wallets (at 66%), followed by bank transfers (63%) and debit cards (44%), which can likely be attributed to the extremely low credit card penetration rate in Indonesia.

  • Duet Protocol closes first-round funding at US$3 million

    Duet Protocol closes first-round funding at US$3 million

    On 9th May 2021, Duet Protocol announced the closure of US$3 million in the first round of investment.

    Duet identifies itself as the world’s first multi-chain synthetic asset protocol with a hybrid mechanism of over-collateralization and algorithm stabilization.

    The first-round investment was led by OmniLAB, DraperDragon, Everest Ventures Group, One Block Capital, Moonwhale Ventures, Dutch Crypto Investors, LD Capital, Zonff Partners, Cabin VC, ArkStream Capital, individual investors include cofounder of BIT Digital Inc (NASDAQ: BTBT) and the partners of A&T Capital.

    OmniLAB is the investment fund that backed the world’s first stablecoin (on OmniLayer) circulation specification for Lightning Network. DraperDragon Innovation Fund is a core member of Draper Venture Network and mainly focuses on investing in US-China cross-border startups.

    The second round of investment and regional partners around the globe will be announced by Duet in the coming days.

    Synthetic assets paradigm path selection

    The Crypto market is a high-speed self-evolving dynamic ecosystem in which DeFi is pioneering massive adoption and mechanism innovation. “Duet is bridging the gap between real-world assets and crypto markets and we are convinced that synthetic assets are the optimal approach to connect these two worlds,” J.Bach, one of the core founding members of Duet protocol quoted.

    Duet synthetic assets are targeting the stock market. Compared with the current alternatives, Duet claims to deliver a unique design to optimize minting and trading.

    1. Openness and user-friendly: Compared to Binance or FTX CM equity methods, on-chain synthetic assets minting on Duet are easier and friendly for investors, having no entry barriers, procedures cost, or single spot risk.
    2. Multiple collateral positions: Synthetix and Linear protocols adopt the single asset deposit with sharing debt method. Whereas, Duet chooses multiple collaterals with separated CDPs, which reduce minters’ risk and raises scalability.
    3. Assets diversity and compatibility: Compared with MakerDAO’s DAI and Mirror’s UST, Duet accepts various types of synthetic assets and embraces wider ecosystems, and supports Ethereum, BSC, and other EVM compatible blockchains.
    4. Compatibility: Duet provides transferable dAssets which could be leveraged in other DeFi protocols, compared with a perpetual-ish protocol which only supports long or short positions.

    Establishing a financial world governed by DAO

    The vision of Duet Protocol is to build an on-chain parallel space, with global partners and contributors, governed by DAO that enables the on-off ramp of Flat Assets (Traditional Assets) and Sharp Assets (Crypto Assets).

    According to J.Bach, “Duet’s innovative dual synthesis model can greatly improve the capital efficiency of user’s funds. With Duet, the global investors would be able to create and allocate capital to any assets with only one digital wallet in a frictionless and user-friendly manner”.

    Get the latest from Duet on Twitter @duetprotocol

    Media Contact:
    Nitesh, Duet Protocol
    E : contact@duet.finance
    W: https://duet.finance
    T : https://twitter.com/duetprotocol

  • BitWell will Access PayPal to Facilitate Bitcoin Purchases

    BitWell will Access PayPal to Facilitate Bitcoin Purchases

    BitWell, a digital asset derivatives trading platform, announced that it will access global payment channels such as Visa, PayPal, and Master Card, providing users in over 65 countries and regions with access to 300 fiat currency payment channels and 20 digital currency payments, to facilitate global users in purchasing digital assets such as Bitcoin more easily and quickly.

    This will significantly lower the barrier for users to participate in BitWell and purchase digital assets, promoting a more convenient experience for investors to access BitWell’s digital asset services.

    To achieve these features, BitWell introduces Alchemy Pay. Alchemy Pay (ACH) is the world’s most adaptable crypto payment infrastructure, in which the payment system can support over 65 countries and regions, 300 fiat currencies and 20 digital currency channels, including global payment channels such as Visa/Master Card/PayPal, as well as locally popular channels such as Dana, OVO, MayBank, FPS, etc., in Indonesia, Vietnam, Europe and some other areas.

    The BitWell platform token WELL will also go live on the Alchemy Pay (ACH) fiat and digital currency aggregation payment platform. Users will be able to use WELL payments at thousands of online and offline stores represented by global landmarks such as CeLaVi on the top floor of Singapore Sands Hotel, Pricerite Real Value in Hong Kong, Dubai Mall and other well-known merchants, with instant payment.

    About BitWell

    BitWell is an international digital asset derivatives trading platform that has launched a number of product lines, including options, perpetual contracts, spot trading, and savings, as well as an innovative industry-leading cross collateral model. BitWell is the first platform in the world to launch DeFi options, with the largest variety of options. It is also the platform with the fastest and most complete BSC spot trading and the highest return on flexible finance, providing users with one-stop digital asset trading and financial services. Visit https://www.bitwellex.com.

    Media contact
    BitWell Technology Limited
    E-mail: operation@bitwellex.com
    Website: https://www.bitwellex.com

  • KONE Redefines the Future of Smart City in Singapore with its DX Class Elevators — the World’s First Elevator Series with built-in Digital Connectivity

    KONE Redefines the Future of Smart City in Singapore with its DX Class Elevators — the World’s First Elevator Series with built-in Digital Connectivity

    KONE, a global leader in the elevator and escalator industry, recently hosted a Customer Experience event in Singapore to showcase the world’s first digital elevator series. The Customer Experience event was held on 22 April 2021 at the National Gallery of Singapore. This was supported by key innovative partners such as Gaussian Robotics, Habitap, G Element and Blindsquare, to bring new user experiences to life through a combination of design, technology, new materials, apps and services.

    Aimed at supporting Singapore’s vision to be a sustainable smart city through enhanced eco-efficiency, performance, and aesthetics, KONE DX Class elevators have built-in connectivity as standard. KONE DX Class revolutionizes the role of elevators in future smart buildings: the elevator is no longer merely a way to travel between floors, but an integral and integrated platform that offers intuitive, ambient and connected experiences that extend from the lobby throughout the building. For KONE customers such as infrastructure developers and building owners, a key advantage is the ability to have access to future-proof solutions, where elevator experiences are adapted and upgraded for different needs.

    “We are excited to introduce the world’s first digitally-connected elevators — enhancing building value along with our larger ecosystem of partners in the region,” says Mikko Bjork, Managing Director, KONE Singapore. “Not only does the DX Class elevator series bring convenience to customers and users, it also offers a chance for us to secure a green, liveable, and sustainable city for future generations to live in.”

    The new KONE DX Class enables customers to tailor and plug in additional software and services for elevators throughout the entire lifetime of a building. By using open application programming interfaces (APIs), KONE’s approach makes it easy to manage and integrate different devices, apps and services with new and existing systems. For elevator passengers this brings a host of new, multisensory experiences inside the elevator, combining physical hardware and digital services. These can be customized according to individual needs and preferences, bringing new levels of ease and convenience.

    “We have been working with KONE on distinct, cutting-edge lift integration capabilities that use autonomous cleaning robots to navigate and clean multiple floors in a building by itself,” says Kevin Lee, Business Development Director Gaussian Robotics. “The goal is to always provide a safe and clean work environment for tenants and employees in the building.”

    Every KONE DX Class elevator provides:

    • The option for customers to easily and remotely activate digital services when they need to, including KONE 24/7 Connected Services and KONE Residential Flow.
    • Secure APIs for third-party solutions, which create new and exciting services. KONE is also announcing agreements with a number of companies, such as Blindsquare; Gaussian Robotics; Habitap; G Element; and more, to bring new levels of sophistication to the people flow experience.
    • A whole new variety of design options and innovations, including anti-stain, anti-scratch, and anti-bacterial surfaces.
    • Advanced dynamic display, sound and lighting options to transform the ambianceazx and interior.
    • A range of sustainable materials to meet green building criteria like BREEAM and LEED.

    “KONE is merging technologies of today with existing infrastructure to create smarter and more intelligent buildings — supporting the growth of sustainable cities with a purpose,” says Samer Halabi, Executive Vice President of KONE APAC. “Combining new products and services over the lifetime of a building can be very powerful, and the KONE DX Class makes elevator journeys more enjoyable and sustainable.”

    The new KONE DX Class elevator series is ideal for customers looking to modernise existing equipment with enhanced eco-efficiency, performance, and aesthetics. The KONE DX Class will replace the current KONE elevator range.

    Read more:
    Read more about KONE DX Class elevators: https://www.kone.com/en/products-and-services/elevators-escalators-automatic-doors/kone-dx-class-elevators.aspx
    For images and videos, visit KONE’s Material Bank: https://materialbank.kone.com/content/kone-material-bank/search_page.html
    Watch the mind-controlled elevator video: https://youtu.be/kUHl9MhgA6M
    Connecting more than floors to tickle your senses: https://www.kone.com/en/news-and-insights/stories/connecting-more-than-floors-to-tickle-your-senses.aspx

    About KONE

    At KONE, our mission is to improve the flow of urban life. As a global leader in the elevator and escalator industry, KONE provides elevators, escalators and automatic building doors, as well as solutions for maintenance and modernization to add value to buildings throughout their life cycle. Through more effective People Flow(R), we make people’s journeys safe, convenient and reliable, in taller, smarter buildings. In 2020, KONE had annual sales of EUR 9.9 billion, and at the end of the year over 60,000 employees. KONE class B shares are listed on the Nasdaq Helsinki Ltd. in Finland. www.kone.com

  • How Bussr’s AI-Based Technology Is Set to Reshape the World’s Roads and Economies

    How Bussr’s AI-Based Technology Is Set to Reshape the World’s Roads and Economies

    Singapore-based transport disruptor Bussr has the attention of the global investment community for its vision to change the way the world moves from A to B, and for the abundance of talent at its table. Bussr’s vision springs from the trio of former Rocket Internet founder and CEO Hussein Abdelkarim, veteran technology consultant and co-founder I.M. Shousha, and former Microsoft Chief Architect, co-founder and CTO Ajay Bhandari.

    With people looking for better lives in our cities, the world’s urban population has grown 55% in the last 50 years, and now generates more than 80% of our global GDP. Central to this is mobility, and demand for urban road passenger transport is expected to double by 2050. The economy is reliant on the freedom of movement for its citizens to be productive members of society.

    Forward-thinking cities have had the realization that the future lies in mass transit such as buses, subways, trains, and ferries, as well as walking and cycling. The rise of electric vehicles (EVs), micromobility, Uber, Grab, and Didi have made inroads over the last few years, but much more needs to be done to address the systemic throttling in the global transport sector.

    Hussein Abdelkarim, Shousha and Bhandari see the current transport sector as a chaotic dance. But by digitizing this mobility they trust their technology will bring a choreographed elegance to the way people travel. Each Bussr trip is a choreographed, seamless leap from place to place, leaving cities less congested, less polluted, free to breathe again. All of which are part of Bussr realizing its goal of “Digitizing mobility. Connecting the world.”

    Bussr’s Mobility-as-a-Service (MaaS) technology acts as both an app for private use and an end-to-end, omnichannel ticketing, payment, and fleet management solution for enterprises. Its specialist artificial intelligence (AI) platform continually monitors millions of data points to help mass transportation systems operate at optimal efficiency for both passengers and operators.

    Bussr’s app can be branded or white-labeled for transport providers and is available to cities, operators, schools, and corporates. The enterprise use of Bussr allows the management of ticketing and payment and provides immense data insight into traveller flow, density, and timing. Operators can then accurately predict and plan the future needs of both passengers and transport solutions.

    Bussr’s Big Thinking Has Attracted Big Backing

    Bussr recently raised an undisclosed amount in a round led by high-profile investors, such as Bridford Group, Peng Ong of Monk’s Hill, Le Mercier Group, Jack Selby of Thiel Capital, Altitude Partners, Angela Huang of Hillhouse, Duncan Clark, Founder of China BDA, Alibaba early investor and author of the book ‘The House That Jack Ma Built,’ Andrew Huang of Fountainvest, and AI Capital, the founding team of Siri. There are also strategic angel investors from Facebook, PayPal, Lyft, Spotify, Zoom, Didi, and Impossible Foods.

    The funds will expand Bussr teams across engineering and product design while also creating further strategic partnerships to enhance its reputation as a global player in mobility technology, a market that analysts say will reach US$908.8 billion by 2027. And Bussr, by digitizing this mobility market, trust that their technology will bring an elegance to the way people travel.

    The Bussr app is available on Android and iOS, and can provide full travel options utilizing ride-sharing, public buses, trains, renting of scooters, and even bicycles to complete a trip. The user enters Point A and Point B, and the app manages every facet of the journey, AI providing the optimal route in terms of time and cost, while reducing the carbon footprint by reducing dependence on single-occupant vehicle use.

    Bussr also offers real-time communication, fleet maintenance, and automated workflows creating the foundations of efficient fleet management. Cities and operators will ultimately be able to manage their citizen and passenger mobility needs better while reducing pollution and congestion. Future-proofing benefits for governments and private mobility partners include facial recognition capabilities for passenger check-in, safety, and security.

    More than 900 transport partners are enjoying the advantages of Bussr technology including Bluebird, the largest private transportation group in Southeast Asia, and Royal Platinum and Pahala Kencana, the largest intracity and intercity private operators in Indonesia. There are also 60 major payment providers already on the Bussr platform, and with 2,500 destinations in 370 cities, more than 6,000,000 travellers used Bussr’s network in 2020.

    Please contact:
    Media Relations, Bussr Technologies
    E: press@bussr.com, Web: www.bussr.com

  • CropLife Asia’s ‘Drone for Pesticide Application’ Online Forum draws Asian Policymakers and Global Experts

    CropLife Asia’s ‘Drone for Pesticide Application’ Online Forum draws Asian Policymakers and Global Experts

    A first-of-its-kind virtual conference on drone use for pesticide application in Asia concluded this week after three days of dialogue and discussion among stakeholders from across the food supply chain. The event focused on perspectives ranging from those of regional governments, manufacturers as well as commercial adopters, and experts in the field forecasting future innovations.

    “Our industry takes seriously its commitment to ensure responsible use of plant science technologies and sustainable agricultural practices. Drones are a new tool that can support and strengthen that effort – and have the potential to play a transformative role in Asian agriculture,” said Mr. Gustavo Palerosi-Carnerio, CropLife Asia President.

    “As with any innovation, the most critical components are the best practices that reflect responsible use and the policies that underpin them. Through this week’s conference, we’ve heard vital insights from agricultural drone use experts in these areas and what the future may hold. We look forward to continuing these constructive conversations, and working with regulators and other key stakeholders across the food supply chain to help deliver drone use for pesticide application in Asia that is conducted responsibly.”

    Drones or unmanned aerial vehicles (UAVs) are increasingly being used by large and small-scale farmers globally. This includes use for mapping, crop surveillance and scouting, pesticide application, and monitoring both irrigation as well as grazing livestock. According to a recent Industry ARC report, “Agricultural Drones Market – Forecast (2021-2026)”, the market for agricultural drones is projected to reach more than $5.8 billion by 2026.

    In Asia, the use of drones for pesticide application is rapidly growing in popularity due to the advantages it provides, namely: efficiency with use of inputs; enhanced spray precision; reduced water consumption; and less dependence on labor, resulting in lower associated costs.

    “As food and agricultural stakeholders, we all have a duty to ensure our region’s farmers are enabled and empowered to grow the nutritious crops on which we depend – and help deliver a food supply for Asia that is safe, secure and sustainable,” commented Dr. Siang Hee Tan, CropLife Asia Executive Director.

    “When used responsibly, drone technology can be a game-changer for Asia’s smallholder farmers. However, it’s critical that the growth in agricultural drone use in our region is matched by an expansion of sound and science-based regulations to support their responsible use. By bringing together a broad array of government and private sector stakeholders, this week’s forum was a substantial step forward on that front.”

    Asia is home to the smallest-sized farms and the largest number of smallholder farmers in the world. It’s estimated that 85% of the world’s 525 million smallholder farmers live and work within our continent. These growers face unique challenges in comparison with larger commercial farmers – landholder rights, access to finance, labor shortages, and availability of technology among them. With COVID-19 having an exacerbating effect on many of these and other obstacles Asia’s smallholders face, drone use with pesticide application has the potential to benefit these growers by helping drive production and sustainability at the same time.

    CropLife Asia’s Drone for Pesticide Application Online Forum was conducted 8-10 March and brought together virtually technology experts and sector stakeholders from across Asia and around the globe. The three-day conference was structured to convey and grow: common understanding of drone benefits to sustainability as well as farmers’ safety and productivity; strong cross-sector partnership between government and industry; and an open exchange of knowledge and best practices to manage risks and concerns.

    A total of seven sessions were conducted during the forum to guide the discussion on a range of topics. From the “government” perspective, this included sessions on: Digital transformation and its impact on government agricultural policies; Regulatory frameworks for pesticide application by drone around Asia Pacific; and Safety Standard Operating Procedure (SOP) for pesticide application by drone. Sessions focusing on the “field” perspective included: R&D – Technology enablers for pesticide application by drone; and Commercial adoption of drone for pesticide application in APAC. Lastly, capturing the “future” perspective were sessions on: Emerging technological advancements in drone for pesticide application; and Roundtable – Future collaborations to drive best practices in the region.

    For additional details regarding the Forum, including a full roster of moderators and panelists who participated, please consult the Events section of the CropLife Asia website.

    About CropLife Asia

    CropLife Asia is a non-profit society and the regional organization of CropLife International, the voice of the global plant science industry. We advocate a safe, secure food supply, and our vision is food security enabled by innovative agriculture. CropLife Asia supports the work of 15 member associations across the continent and is led by six member companies at the forefront of crop protection, seeds and/or biotechnology research and development. For more information, visit us at www.croplifeasia.org.

    For more information please contact:
    Duke Hipp
    Director, Public Affairs & Strategic Partnerships
    CropLife Asia
    duke.hipp@croplifeasia.org

  • AppsFlyer Promotes Sanjay Trisal As New General Manager of India, Southeast Asia, and Australia, New Zealand, To Strengthen Regional Collaboration

    • Sanjay Trisal will lead teams across India, Southeast Asia, Australia and New Zealand (INSEA/ANZ) and focus on increasing collaborations and smoother efficiencies for greater market optimisation
    • Bringing over 20 plus years of strong sales, business development, and management experience, Sanjay has a proven track record and has grown AppsFlyer’s presence in India since 2015

    Today, AppsFlyer, the global attribution and marketing analytics leader, appoints Sanjay Trisal as General Manager of INSEA/ANZ (India, Southeast Asia, Australia, New Zealand). Prior to this promotion, Sanjay was AppsFlyer India’s country manager for almost 6 years, and has grown AppsFlyer’s presence in India across all verticals and domains. During the shift to Work From Home in early 2020, Sanjay has set up a successful strategy that ensured productivity results soared, and backend processes remained intact for the team in India.

    In this newly created role, Sanjay will be responsible for AppsFlyer’s regional growth over multiple markets across India, Southeast Asia, and Australia and New Zealand, and improve cross-border collaboration and ensure smoother efficiencies across teams.

    Based out of India for the time being, Sanjay will also oversee, plan, and coordinate operational strategies in INSEA/ANZ. With AppsFlyer having expanded into Australia and New Zealand in November 2020, Sanjay will also play a critical role in strengthening AppsFlyer’s commitment to the ANZ region.

    Sanjay Trisal, General Manager, AppsFlyer INSEA/ANZ, says: “Going forward, regional collaboration will continue to be the key to our success, and I am excited to be in a position to work across core markets to drive business objectives and grow to meet the demands of the region alongside a high-performing team. AppsFlyer’s solutions help marketers to work smarter and fuel data-driven initiatives in a market that is constantly evolving. I look forward to tapping into the numerous opportunities INSEA/ANZ offers.”

    The INSEA/ANZ regions have shown great potential in the mobile attribution industry and provides many opportunities for mobile marketers to maximise results. According to an eConomy report, the Southeast Asian internet economy has grown by 33% each year since 2015, showcasing the immense opportunities in the region. Similarly, the Australia and New Zealand industry is becoming a hub for mobile app development in the region with apps like Canva being a global phenomenon.

    AppsFlyer’s 2020 growth has been exponential, reporting over USD200 million in Annual Recurring Revenue (ARR), as well as a late-stage extension of its existing USD210 million series D round. AppsFlyer now has over 1,000 employees, spread across 19 offices globally.

    Sanjay brings over 20 plus years of strong sales, new business development, and management experience in the IT, High Tech and Consulting sectors. Before joining AppsFlyer in 2015, Sanjay spent almost 3 years at InMobi, a multinational technology company that specializes in mobile advertising and mobile marketing and was responsible for expanding the LATAM market.

    “We are very pleased that Sanjay is taking on a broader role at AppsFlyer. We have been growing exponentially over the last year, opening our latest APAC office in Sydney at the end of 2020, and with Sanjay’s remarkable talents aim to bring cohesive collaboration across our core markets. Sanjay’s notable accomplishments in India make him a perfect fit for this new role and we have full confidence that he will play a critical role in spearheading a successful collaboration between regions,” stated, Ronen Mense, President & Managing Director, AppsFlyer, APAC.

    About AppsFlyer

    AppsFlyer, the global attribution leader, empowers marketers to grow their business and innovate with a suite of comprehensive measurement and analytics solutions. Built around privacy by design, AppsFlyer takes a customer-centric approach to help 12,000+ brands and 7,000+ technology partners make better business decisions every day. To learn more, visit www.appsflyer.com

    Media Contacts
    Debbie Beins
    PRecious Communications on behalf of AppsFlyer
    appsflyer@preciouscomms.com

    Press Contact For AppsFlyer in APAC:
    Nico Marco
    nico.marco@appsflyer.com

  • Former Head of Operations of Binance Global Fiat Exchanges becomes COO of BitWell

    Former Head of Operations of Binance Global Fiat Exchanges becomes COO of BitWell

    SINGAPORE, Mar 4, 2021 – (ACN Newswire) – BitWell has announced that Hsann, the former head of operations of Binance global fiat exchanges, has become COO at BitWell.

    Hsann established multiple fiat exchanges, such as Binance US / Singapore / Jersey / Korea / Uganda and Tokocrypto, which enable local customers to buy crypto using fiat currency (USD, SGD, EUR, GBP etc.) under the conditions of legal compliance through all above channels with no entry barriers. He was also responsible for operations of the exchanges.

    BITWELL CEO JEFF YOUNG SAID, “HSANN IS A CO-FOUNDER OF BITWELL, AS THE FORMER HEAD OF OPERATIONS OF BINANCE GLOBAL FIAT EXCHANGES, HE EXPANDED BINANCE BUSINESS GLOBALLY, SIGNIFICANTLY ENHANCED ITS INTERNATIONAL VISIBILITY. I BELIEVE THAT HE WILL HELP BITWELL GROW RAPIDLY AND STABLY WITH HIS EXPERIENCES IN THIS AREA AS BITWELL COO.”

    Hsann said, “I appreciate the trust given by the BitWell team, as a co-founder, I am really pleased to work with Jeff again. I believe we are definitely able to build BitWell into a world-leading derivatives exchange together with our fantastic team.”

    About Hsann
    Hsann is the co-founder and COO of BitWell. He worked with Binance as a head of operations for fiat exchanges and has launched multiple fiat exchanges. Before Binance, he worked at Flextrade, a FX trading platform serving leading financial banks and asset management funds. Flextrade’s high-performance system was trusted by many industry leaders.

    Prior to Flextrade, he worked in IBM and Toshiba as a developer and project manager to develop device drivers for IBM retail store solutions to serve world-leading retail clients such as Walmart, Starbucks and others. Hsann obtained the Master of Science in Embedded Systems from Nanyang Technological University, Singapore and Master of Business Administration (Finance) from National University of Singapore.

    About BitWell
    Launched on 6/4/2020, BitWell is a global crypto derivatives exchange based in Singapore. It supports spot and option trading and expects to support futures trading soon. https://www.bitwellex.com.

    Media contact:
    Luke, operation@bitwellex.com, BitWell Technology Limited.

  • Singapore Life Insurance Industry Posts Positive Result in 2020

    Singapore Life Insurance Industry Posts Positive Result in 2020

    Singapore’s life insurance industry recorded a total of S$4.38 billion in weighted new business premiums in 2020, up three per cent from a year earlier, according to the Life Insurance Association, Singapore (LIA Singapore).

    Data showed that the industry posted a rebound in the second half of 2020 after the initial fallout from COVID-19, which affected policy uptake most significantly in the second quarter of the year.




    “The foremost priority for life insurers this year is to ensure that individuals, families and companies continue to have their healthcare, financial, and service needs met as we continue to experience fallout from the global pandemic. We are working closely with the relevant government agencies to constantly review the situation and support national initiatives,” said LIA Singapore president Khor Hock Seng.

    The uptake of new policies purchased online saw a significant increase to 206,679 in 2020 compared to 9,971 in 2019. Most of the policies purchased online were single premium products such as short-term non-par endowment plans, par whole life plans, and universal life plans.

    Contributing factors leading to increased uptake of such policies online include:

    • Simple online purchasing process
    • Simple and easy to understand features
    • Short-term commitment period, especially appealing to consumers amid uncertain financial security, and
    • Reasonable returns, which are attractive to consumers seeking safe assets amid a low interest rate environment and uncertain economy.

    Sales of single premium products recorded a 47 per cent year-on-year increase in weighted premiums amounting to S$1.84 billion in total for YTD 4Q2020.

    Strong uptake of single premium products cushioned the decreased uptake of annual premium policies for the year.

    Sales of annual premium products recorded a 15 per cent drop from the same period last year, amounting to S$2.55 billion in total weighted annual premiums.

    Employment in the life industry rose by four per cent, compared to the corresponding period in 2019, with 320 net new hires. This brings Singapore’s life insurance industry’s workforce to 8,768 employees as at 31 December 2020. New hires have primarily been attributed to insurers expanding their IT and operations teams as well as steady hiring in project and product management roles.

    The demand for digital specialists is expected to continue unabated in the foreseeable future as the industry presses on with digital transformation efforts.

    In the same period, 15,201 representatives held exclusive contracts with companies that operate a tied-agency force. – BusinessNews.ph

  • Singapore Exchange, Partners To Launch New Asian Bond Trading Platform

    Singapore Exchange, Partners To Launch New Asian Bond Trading Platform

    Singapore Exchange (SGX) has teamed up with fintech firm Trumid and Hillhouse Capital to launch a new Asian bond trading platform targeting global clients.

    The join venture – XinTru – combines Trumid’s cutting-edge technology and fixed income expertise, SGX’s deep experience in Asian financial market infrastructure and electronic trading, and Hillhouse’s expertise and network in Asia and the financial services sector.




    XinTru will launch and operate Trumid XT, an electronic bond trading platform powered by advanced technology and rich analytics.

    With an emphasis on domain-focused and intuitive product design, the platform will seamlessly fit into traders’ workflows. Trumid XT will connect the commercial footprint and liquidity from SGX’s Bond Pro and Trumid’s Market Center in the United States (US), to provide a robust network for trading of Asian fixed income.

    Trumid XT will enhance international access to Asian bond markets, while also facilitating Asian investor participation in US and global emerging market credit.

    Asia’s fixed income market continues to expand on the back of economic growth and low interest rates, which have driven increases in corporate bond issuance and inflows to Asia-focused funds.

    As Asia’s leading international fixed income marketplace, SGX is Asia’s most global bond venue with over 40% of Asia Pacific’s G3 currency issuances listed on the exchange. To date, SGX has listed over 6,600 listed securities by more than 1,600 issuers from 66 countries, with amounts issued of over US$2.2 trillion in 26 currencies.



    With Trumid XT’s launch, SGX Bond Pro’s diverse client base across Asia Pacific, UK, Europe and the Middle East will be able to connect seamlessly on one platform. Since its 2015 launch, SGX Bond Pro has built a diverse participant base that includes global and regional dealers, bank treasuries, wealth and asset managers, family offices and hedge funds.

    XinTru’s independent management team includes Chief Revenue Officer Ben Falloon who brings 20 years of Asia fixed income experience and relationships, and Chief Operating Officer Mark Leahy who has significant experience building and operating capital markets businesses in the region. – BusinessNews.ph