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Crypto

Malaysia, Thailand join Singapore\'s Bloom digital currency initiative

Malaysia and Thailand have joined Singapore’s Bloom digital currency initiative, The Defiant reported on Thursday. The report said Visa, Mastercard and the World Bank Group are also included among participating organisations. The expansion focuses on tasks related to a cross-border settlement framework and interoperability. With the participant base widening, Bloom is strengthening its character as a multilateral cooperation effort beyond Singapore. Specific roles and digital currency details were not included.

AI & Enterprise

Douzone Bizon teams up with law firm Sejong on AI governance and compliance market

Douzone Bizon said on Thursday it signed a memorandum of understanding with law firm Sejong to cooperate in AI governance and compliance. The partners plan to jointly respond to demand for legal advice on AI governance, compliance, building security systems and managing legal risks as companies pursue AI transformation. Sejong will provide advice on AI-related laws and regulations, compliance and security frameworks, and risk assessment and control systems. Douzone Bizon will build governance and security systems and dashboards and support technical implementation linked to ERP and other business systems.

Crypto

SoFi launches SOFIE tokenised deposit offering 4.4 percent annual yield

Fintech firm SoFi has launched SOFIE, a tokenised deposit product offering a 4.4 percent annual return. The product issues bank deposits in token form while maintaining deposit insurance coverage and allows users to convert holdings into SoFiUSD, a dollar-linked stablecoin, for cryptocurrency trading. SOFIE deposits are insured by the FDIC up to $250,000 per depositor by account ownership type, while SoFiUSD is not FDIC-insured.