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Finance

Airwallex appoints Kwon Yoon-a to lead SME business in South Korea

Airwallex said on Tuesday it had appointed Kwon Yoon-a as head of its small and medium-sized enterprise business in South Korea. She will lead overall operations in the market, including building strategic partnerships with domestic financial institutions, strengthening communication with industry contacts and key media, and expanding support for local clients. Airwallex said it secured payment gateway and prepaid payment instrument licences in South Korea earlier this year through a strategic acquisition.

Finance

IBM says financial order to change by 2030 as tokenised assets, stablecoins and CBDCs move into mainstream

Tokenised assets, stablecoins and central bank digital currencies are expected to move beyond testing and become core infrastructure for payments and capital markets by 2030, a report cited in South Korean media said. The shift could disrupt banks\' revenue structures and customer touchpoints. IBM outlined scenarios involving CBDCs replacing retail payments, stablecoins dominating cross-border payments, and tokenised securities reshaping capital market infrastructure, while highlighting cybersecurity and regulatory challenges.

AI & Enterprise

AI boom reshapes U.S. corporate landscape as S&P 500 employment falls for first time in 10 years

Employment at major U.S. companies has turned to a decline as artificial intelligence spreads and firms pursue cost cuts and workforce redeployment. Total employment at S&P 500 companies fell to 28.1 million, down about 400,000 from a year earlier, marking the first annual drop since 2016. Layoffs have concentrated on white-collar roles, while some AI-related jobs command pay premiums. Companies are also cutting entry-level hiring and automating customer support and back-office work.