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Finance

Toss becomes first big tech financial conglomerate, enters group supervision

Toss has entered South Korea’s group supervision framework after being designated a financial conglomerate, the first such case among big tech financial groups. The designation adds group-wide oversight of capital adequacy, intra-group transactions and risk transfer on top of sector-by-sector rules for affiliates such as Toss Bank and Toss Securities. Authorities will assess the group every three years, apply capital rules at group level and tighten internal transaction procedures, while key requirements are deferred for six months.

Crypto

Russia allows cryptocurrency investment but bans payments in first step into mainstream

Russia\'s lower house has passed a bill to legalise cryptocurrency investment and trading while banning its use to pay for goods and services domestically. Trading would be allowed only through licensed, registered exchanges, with custodians, brokers and asset managers assigned formal roles and exchanges subject to capital requirements. Retail investors would face suitability tests and limits. The measure takes effect in stages from Sept. 1, 2026, but still needs approval by the upper house and President Vladimir Putin.

AI & Enterprise

AMD to ship first rack-scale AI system Helios by year-end; Microsoft joins as new customer

AMD will begin shipping its first rack-scale artificial intelligence system, Helios, to customers from late this year, CNBC reported on July 20. Microsoft is joining as a new customer and plans to use Helios in its data centres for frontier model inference, customer AI workloads and Azure AI services. AMD said Helios integrates GPUs, CPUs, networking and software, and will use MI400-series GPUs and EPYC CPUs.