Some companies have acquired cryptocurrencies for their corporate treasuries despite the volatility. MicroStrategy, the public company that holds the most bitcoin on the balance sheet, remains bullish on bitcoin.

In the Asia Pacific region, skilled and experienced tech professionalsand regulatory compliance specialists will find themselves well-positioned in the banking and financial services market

Crypto markets have seen recent spikes and increased volatility as more mainstream companies and speculators continue to join the digital asset trading and investment bandwagon. The impressive rise of other cryptocurrencies beside Bitcoin has dented its market dominance.

The total capitalisation of digital assets surged three-fold in 2021, with strong evidence that the momentum is likely to continue into the new year. DeFi users are expected to continue their exponential growth over the next 12 months, with more institutional investors moving into the space, combined with greater clarity over regulators’ stance in the large economies such as China and the US. What challenges and uncertainties could lie ahead to derail the upbeat outlook?

The push for climate change considerations puts pressure on financial services companies to develop and use advanced technologies such as blockchain that promises improved governance.

As the trade finance industry collectively progresses to address challenges around digital fragmentation and isolation, adoption of standard solutions and well-established legal frameworks along with technology as an enabler will play critical roles in truly digitalising trade.

As demand for sustainable products rises, stakeholders including consumers, investors, and regulators are pushing manufacturers, suppliers and lenders to incorporate ESG metrics in evaluating the performance of their supply chains.

Tech giants, which make up some of the world’s largest companies, are muscling into traditional banking spaces. But whether they want to crush the traditional finance players or enable them, they are learning across the globe that disrupting well-regulated banking systems is easier said than done

Several key themes emerged amidst the many discussions by global leaders in payments, including QR code, blockchain, credit card schemes, fintech and data consolidation

While the growth of Alibaba and Alipay as well as Tencent and WeChat pay in China is well known, there have been questions about whether a similar model can succeed outside of China. Local players as well as those Chinese giants themselves are starting to show that a super-app may well succeed in other markets in Asia too.

Given that remittances are so lucrative in so many markets in Asia, and that new competitors are offering faster and cheaper services, banks will need to develop new models if they want to keep their customers.

Electronic channels and bank agnostic platforms are transforming traditional trade finance functions across Asia Pacific