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Business Times
2 hours ago
- Business
- Business Times
The future of stablecoin: Why banks and fintech firms must work together
[SINGAPORE] As digital currencies continue reshaping the global financial landscape, stablecoin – a type of cryptocurrency pegged to fiat currencies – are coming to the fore, notably for their ability to simplify processes and accelerate cross-border transactions around the clock. The global stablecoin market is expanding rapidly, and becoming increasingly competitive. T; the average monthly supply of stablecoin in circulation climbed roughly 50 per cent year on year to US$228.18 billion in July 2025, said the New York-headquartered data analytics firm, Allium. In 2024, the total transaction volume of stablecoin had already surpassed US$27 trillion, beating the combined volumes processed by legacy players Mastercard and Visa. Luke Boland, Standard Chartered Bank's head of fintech for Asean, South Asia and Greater China and North Asia, observed growing client interest in partnering on stablecoin use cases and asset tokenisation. However, he emphasised that banks and fintech companies must work together to address key issues in the industry; the challenges range from technology and market and payment infrastructure to legal and compliance requirements. Boland noted, 'We are leveraging both our existing banking solutions and partnering with companies that complement our proposition through emerging innovations.' A NEWSLETTER FOR YOU Friday, 8.30 am Asean Business Business insights centering on South-east Asia's fast-growing economies. Sign Up Sign Up Under such partnerships, he pointed out that banks offer their trusted reputation for safety and adherence to stringent regulatory and capital requirements, ensuring the certainty of money, while fintechs excel at driving adoption by creating efficiencies and cost savings, especially when servicing both buyers and sellers on one platform. Standard Chartered, for example, has been engaging with Circle, the issuer of USDC, the second-largest stablecoin by market value, as an advisory bank to Circle Payments Network (CPN) . The bank has been contributing to the shaping of the network's design, compliance framework and operational standards. Designed with a compliance-first payments-coordination protocol, the network aims to enable financial institutions to securely exchange payment instructions and settle transactions in regulated stablecoin, at lower cost and with fewer delays than the traditional correspondent banking system. Initial use cases include supplier payments, remittances, global payroll, capital markets settlement or treasury operations. Standard Chartered called Circle's compliance-first approach to build CPN 'a game changer for cross-border money movement', which aligns with the bank's strategy to make payments more efficient, secure and globally compliant. Overcoming institutional barriers A survey conducted earlier this year by Coinbase and EY-Parthenon found that 83 per cent of institutional investors plan to increase their crypto exposure in 2025, and that 84 per cent were either already using, or showing interest in stablecoin. However, they remain concerned primarily about regulatory uncertainty, price volatility and the security of asset custody. In response to growing demand, StanChart recently launched a fully integrated digital-asset trading service through its UK branch, becoming the first Global Systemically Important Bank (G-SIB) to offer deliverable spot crypto asset trading in Bitcoin and Ethereum for institutional clients, including corporates, investors and asset managers. Boland said: 'Operating within Standard Chartered's regulated banking framework, this offering is uniquely positioned to remove many of the barriers (that) institutional clients face when entering the crypto space.' This service adds to the bank's growing suite of digital asset capabilities, which includes custody and trading through its Corporate and Investment Bank, as well as through its ventures, Zodia Custody and Zodia Markets, along with tokenisation services offered by another venture, Libeara. In Singapore, StanChart has a strategic partnership with StraitsX to provide robust cash management and custody services for the reserve assets backing StraitsX's US Dollar and Singapore Dollar stablecoin, XUSD and XSGD. Toward regulatory clarity Governments worldwide are exploring the use of central bank-backed digital currencies and other forms of stablecoin as they recalibrate monetary policies and modernise their financial systems. Boland believes that this evolution paves the way for broader participation in an on-chain financial world, emphasising that clear regulations and new compliance paradigms are essential for fostering stronger collaboration among banks, fintechs and technology partners who are navigating the shifting financial landscape. One such example is the 'Travel Rule', a global anti-money laundering framework originally issued by the Financial Action Task Force, the global body that takes action to tackle money laundering, terrorist and proliferation financing. The rule requires both bank-issued stablecoin and non-bank issuers to collect and share identifying information about the senders and recipients of crypto transactions that exceed certain thresholds. 'This rule helps in making digital currencies safer by tracking the movement of virtual assets,' Boland added. Further regulatory strides, including Singapore's Single Currency Stablecoin Framework, Hong Kong's Stablecoin Bill , and the US Genius Act , are helping to move the crypto asset into the financial mainstream, enabling adoption and innovation at a faster pace. Non-US dollar stablecoin Although US dollar-pegged stablecoin still dominates the global market, accounting for around 98 per cent of the market capitalisation, the rise of non-dollar alternatives is gaining momentum, driven by regulators' concerns over monetary sovereignty, the need for local payment innovation, capital flow control, and the push to enable regional trade integration. Zodia Markets, a digital asset exchange and brokerage platform backed by Standard Chartered, currently lists nine non-dollar stablecoins. Four more are in the pipeline. In partnership with Animoca Brands and HKT, Standard Chartered has also set up a joint venture aiming to issue a Hong Kong dollar-backed stablecoin , strategically positioned to be among one of the first issuers to pioneer in this market in the region. Boland described the venture as 'a good starting point' to gain valuable insights and to 'build a blueprint that could potentially be applied to offering stablecoin in other markets'. 'The best way to learn and engage in this space is to actively participate, rather than to remain passive... We see space for both (USD and non-USD stablecoin) to exist, and to support our global clients as they transact internationally in our footprint.'
Bangkok Post
25-07-2025
- Business
- Bangkok Post
Central Pattana in tie-up with Fazaa Card
Central Pattana Plc (CPN), a leading real estate developer and the operator of Central shopping centres nationwide, has announced a major collaboration with Fazaa Card, the largest national CRM programme in the United Arab Emirates (UAE), to offer privileges to wealthy Emiratis. CPN is the first and only shopping centre developer in Asia to enter into a partnership at the ecosystem level with a UAE national-level partner and is offering special privileges at CentralWorld, Central Village and Central Phuket, which are located at top tourist destinations. The Fazaa Card is a premium membership card established by the UAE's Ministry of Interior with over 1.5 million members including high-ranking government officials and civil servants, investors, those who receive special privileges from the Golden Visa Card, and those with high purchasing power. Nattakit Tangpoonsinthana, chief marketing officer at CPN, said Middle Eastern tourists are a high-value and high-potential market for Thai tourism. In 2025, members of this group can generate a cash flow of up to 90,000-100,000 baht a trip from their spending, he said. This partnership reflects CPN's success in connecting with high-end international customers worldwide, aligning with the Tourism Authority of Thailand's focus on attracting quality shoppers, he added. Mr Nattakit said there are three strategies fuelling the partnership. Firstly, the company has established a strategic alliance with a national-level CRM that includes the Fazaa Card. He said this alliance not only helps to accurately reach the upper-level target group, but also elevates Thailand's potential to become a 'Global Elite Destination'. It can utilise the Fazaa Card's powerful CRM database and platform to design joint campaigns to boost consumer spending and promote the image of Thai brands internationally. Previously, CPN collaborated with the Esaad Card, a UAE membership card established by Dubai Police. Secondly, CPN curates experiences for high-spending tourists. Fazaa card members will enjoy welcome packages with discounts of up to 40% from leading stores in shopping centres; exclusive lounge access at CentralWorld and Central Village; Aquaria Phuket tickets at Central Phuket; shuttle bus passes from CentralWorld to Central Village and from Central Village to Suvarnabhumi Airport; and free gifts and exclusive discounts from selected brands. Lastly, Mr Nattakit said the company is strengthening its reputation as a global elite destination and creating a complete tourism ecosystem by seamlessly connecting with world-leading partners. These include WeChat Pay, Alipay, MasterCard, Klook, The Shilla, Lotte Duty Free and Daimaru.
South Wales Argus
19-07-2025
- General
- South Wales Argus
How to remove Japanese knotweed before you get an ASBO
Gardening is one of those tasks that we Brits love-hate, but ignoring Japanese Knotweed could result in 'severe legal consequences.' Experts at Japanese Knotweed Ltd warn that allowing invasive weeds such as Japanese knotweed to grow, could even pose a risk of an Anti-Social Behaviour Order (ASBO) or substantial fines. Can you get fined for Japanese knotweed? Ignoring even the slightest spread of this highly destructive weed, or failing to manage contaminated soil, could cost homeowners up to £5,000 in fines. Under reformed government legislation, a Community Protection Notice (CPN) – commonly known as an ASBO – can now be issued to individuals or organisations who fail to control Japanese knotweed, deeming such inaction as "unreasonable conduct" that negatively impacts the quality of life in a neighbourhood. Jennifer Holmes at Japanese Knotweed Ltd, said: 'One of the most asked questions we hear is; 'What damage can knotweed cause?' and knotweed takes advantage of any weaknesses in buildings, structures and underground infrastructure. 'If there's a tiny fracture or crack it'll grow through it - expanding that crack to cause potentially serious damage. 'We've seen concrete broken up, pipes smashed to pieces and even knotweed growing through cracks in walls to invade a kitchen - yes it grew through a crack in the wall and appeared inside a kitchen cupboard. 'It's super important to catch knotweed before it gets to this stage, often it's undetectable to an untrained eye - that's why calling in a specialist surveyor is your best defence.' What is a ASBO (CPN)? Failure to control Japanese knotweed can lead to a Community Protection Notice (CPN). A CPN could be used after a mandatory written warning has been served beforehand to inform people to take action. Breach of any requirement of a CPN, without reasonable excuse, would be a criminal offence, subject to a fixed penalty notice. On summary conviction, an individual would be liable to a fine of up to £2,500. Japanese Knotweed Ltd advises that you 'act fast' if you suspect you have knotweed in your garden – or if its even its coming through from an adjoining neighbour's garden. How to remove Japanese knotweed? Control methods, such as herbicide management plans or excavation, should be implemented promptly to prevent further spread and avoid legal issues. Japanese Knotweed Ltd specialises in the identification, treatment, and offers professional legal guidance concerning Japanese knotweed. UK landowners can also apply for Land Remediation Relief on works carried out - which is a valuable tax relief giving back thousands. Recommended reading: What is Japanese knotweed The invasive plant is relentlessly durable, fast-growing and can cause damage to nearby structures. Japanese knotweed is most visible during the summer months, particularly in late summer and early autumn when it flowers. However, it's also identifiable in other seasons, with distinct characteristics in spring and winter.
Yahoo
30-06-2025
- Business
- Yahoo
What is a credit privacy number?
A credit privacy number, or CPN, is a nine-digit number similar to a Social Security number. Companies may try to sell you a CPN with promises of guaranteed loan approval, but this is a scam. Using a CPN on credit applications is fraud and may involve identity theft. The use of a CPN is illegal and CPNs are not recognized as valid by any government or financial institution. If you want to improve your credit fast, you may have run across companies selling credit privacy numbers (CPNs). These CPNs look just like Social Security numbers and are supposed to allow you to apply for credit without exposing your real SSN and credit information. In reality, using a CPN on credit applications is fraud. Are CPNs legal? CPNs are not recognized as valid by any government or financial institution. In fact, according to the Credit Repair Organizations Act, the use of a CPN is outright illegal. Companies that sell CPNs often obtain them illegally by stealing identities. By using a CPN, you are committing fraud and could be denied credit and barred from reapplying. You could even be convicted of identity theft and forced to pay fines or spend time behind bars. A CPN is a nine-digit number that looks like a Social Security number (SSN) but is not issued by the Social Security Administration. This credit privacy number, also called a credit profile number, can be completely made up. But often, it is actually a stolen SSN. Unscrupulous credit repair companies may sell CPNs that are real SSNs that belong to children, the elderly or those who are incarcerated. These companies say that you can use a CPN on credit applications to improve your chances of approval and protect your real SSN. The truth is, CPNs are a complete scam. Sold as a way to improve your credit or protect your credit information, companies that market CPNs promise you can use them just as you would a Social Security number. A CPN is even formatted just like an SSN (xxx-xx-xxxx). Companies that sell CPNs often make fictitious claims, saying that a CPN can: Give you a clean credit slate. Improve your chances of getting loan approvals. Boost your credit score to 700 or 800. Get you into an apartment. Help you get high-limit credit cards. Protect you from identity theft. To use a CPN, you may be encouraged to falsify info like your name or address when you apply for credit cards, auto loans, and even mortgages. By doing this, you are essentially lying to the lender to prevent them from checking your real credit. These 'quick-fix' credit companies are experts at marketing themselves as a legal substitute for mending credit fast. But don't be fooled by their hype. There are some red flags to watch for that reveal the scam. The first one is cost. SSNs are issued for free, but scammers often charge hundreds or thousands for a CPN. Unlike legitimate credit repair companies, they may ask for money upfront before performing any work, which is illegal. When a company encourages you to provide false information, such as a different mailing address, email address or phone number, this is another red flag. The company may tell you this is to protect your identity, but it's a way of falsifying your information. A third warning is when companies promise to quickly remove blemishes from your credit, even accurate accounts. In reality, you cannot remove accurate negative information from your credit profile; you can only wait for it to fall off over time. If you suspect a company is running a CPN scam, report it to the FTC online. Contact the police if you've been targeted by a CPN scam, and freeze your credit with all three major credit bureaus. Companies offering CPNs often target people with poor credit ratings looking for a quick fix for credit repair. Unfortunately, there is no quick way to improve your credit score. However, there are legal, proven methods for improving your credit score over time. Paying bills on time: Making on-time payments is the biggest factor for improving your credit score. Paying on time shows lenders you're a reliable borrower, and it helps increase your score over time. Keeping credit utilization as low as possible: Credit utilization is simply the percentage of your available credit limits you are currently using. The lower this number, the better it is for your credit score. Limiting new applications: If you have several credit inquiries in a short period on your credit profile, you may see your score decrease by a few points. This could also raise a red flag with lenders the next time you apply for credit. Checking your credit report for errors: Mistakes happen. You can get a free credit report at least once per year from each of the three major credit bureaus. If you find an error, each bureau has instructions online for filing a dispute to correct the error. You can also use a credit repair company to help you with disputes. Keeping old credit accounts open: Leaving a credit card account open increases the amount of available credit, which helps keep your credit utilization number in check. Plus, the account age is also reported on your credit profile, which can improve your length of credit history and credit score. Waiting for negative marks to fall off: Over time, the blemishes on your credit report will disappear. Most information falls off after seven years, but some entries, like a bankruptcy, can stay on your report for up to 10 years. CPNs are a scam. Shady credit repair companies who sell CPNs will promise that they work just like an SSN and that using one will solve all of your credit problems. The truth is that filling out a credit application, job application, or apartment application using a CPN is considered fraud. And worse yet, using a CPN in no way helps you to improve your existing credit. The good news is that you can improve your credit without using a CPN, but it won't happen overnight. Stay patient, pay your bills on time and continuously monitor your credit reports to ensure your credit profile is up to date and accurate. Can I use a CPN for work? Using a CPN for work can create major issues for you. A CPN is typically marketed as an alternative to a Social Security number, but it's not a legal form of identification, and it may have even been stolen from someone else. When you use a CPN instead of an SSN on a job application (or for any other application), you risk committing identity theft. If you're concerned about providing your SSN to a potential employer, you can ask the employer if they plan to pull your credit report. Meanwhile, you can take steps to improve your credit history through legitimate activities rather than using a CPN. What happens if you get caught using a CPN? Using a CPN is illegal and considered a form of fraud and, in some cases, identity theft. Identity theft is a federal crime, and if convicted, you can face substantial penalties. Depending on the charges, identity theft or fraud can result in up to 30 years in imprisonment, fines and forfeiture of property. Is a CPN the same as an EIN or ITIN? A credit privacy number, or CPN, is not the same as an Employer Identification Number (EIN) or Individual Taxpayer Identification Number (ITIN). No government entity issues a CPN, and using one is a form of fraud. An EIN, on the other hand, is issued by the IRS. It is a legal method for identifying a business entity. Almost any business can apply for and receive an EIN for free. ITINs are also issued by the IRS to help individuals who can't qualify for SSNs file their taxes. Can I get a new SSN? You can get a new Social Security number, but not just because you have bad credit. New SSNs are only issued in limited circumstances, such as if you have had your identity stolen, have the same SSN as someone else, or are a victim of abuse. Applying for and receiving a new SSN is a difficult process, and your old SSN won't just disappear. Your new SSN will be linked to your old SSN to ensure your wage records remain intact. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bangkok Post
27-06-2025
- Business
- Bangkok Post
Central Pattana ranks No.1 in Fortune poll
Central Pattana (CPN) ranked No.1 in Thailand's real estate sector in the 2025 Fortune Southeast Asia 500, reaffirming its strong business growth and commitment to driving the economy. The country's leading retail and real estate developer was recognised for a second consecutive year in the regional rankings, backed by a record-high performance across all dimensions in 2024. This underscores the success of its retail-led mixed-use development strategy over the past 45 years, strengthening a diversified portfolio of shopping centres, residences, office buildings and hotels, said Wallaya Chirathivat, president and chief executive of CPN. In 2024, the company posted records with total revenue of 51.8 billion baht and net profit of 16.7 billion. Ms Wallaya said the ranking for a second consecutive year is a proud achievement for Thailand and a testament to the company's expanding presence on the international stage. "This recognition highlights the success of our retail-led mixed-use development strategy, which places shopping centres at the core -- connecting and strengthening our key business pillars: residences, offices and hotels -- with a clear focus on long-term sustainability and growth," she said. "This year marks the 45th anniversary of Central Pattana as a key driving force behind Thailand's growth. We remain committed to stimulating the economy, developing districts and cities, and driving progress to all corners of the country," she said. "Our efforts have contributed to job creation, income distribution and the development of prosperity, opportunity and a better future for all sectors -- while also reinforcing Thailand's role as an economic hub of Asean." With a five-year investment plan worth 120 billion baht spanning from 2025 to 2029, CPN aims to expand mixed-use projects and megaprojects nationwide -- enhancing urban potential, propelling Thailand's economy and elevating Bangkok to global city status. The company is set to unveil two landmark projects this year: Central Park, a flagship shopping centre; and Central Krabi, a major mixed-use development and the first prototype of a sustainable mall in a world-known tourist destination. Several other megaprojects across the country are also in the pipeline, she added. By the end of this year, CPN plans to operate 135 projects across all business units, including 30 mixed-use developments in 44 high-potential locations. In the ranking of the largest companies in the region, CPN was No.205 out of 500. According to Fortune's analysis, the number of female CEOs on the Southeast Asia 500 list has increased to 37 this year, up from 29 last year. This reflects a shifting leadership landscape in Southeast Asia -- a region playing an increasingly vital role in driving the global economy -- and highlights the growing opportunities for women in top executive roles, who will be a powerful force in shaping the region's economic and social future. Ms Wallaya has received numerous international awards and recognitions, including the prestigious CEO of the Year at the Retail Asia Awards 2024 -- the first Thai leader to receive this honour in the Asia region. Over the past 45 years, the company has contributed more than 5 billion baht to society and communities through infrastructure development, public spaces and educational opportunities.
