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鈥淭his sets the next escalating move in the US-China tech war a bit more meaningfully and could weaken yuan sentiment in the near term,鈥� said Fiona Lim, a foreign-exchange strategist at Maybank in Singapore. The mounting restrictions could spur Beijing to accelerate China鈥檚 development of necessary technologies, which could be difficult without photolithography equipment.

Firms with banking licenses that focus on these services are Column in the US, founded in 2022 by Plaid鈥檚 co-founder, William Hockey; Solaris Bank in Europe; Griffin Bank in the UK, which recently ran a Series A funding round; and Pave Bank in Singapore. Some banks that do work with consumers also offer this service. In the UK, examples include Starling and @NatWestGroup Boxed.

It already allows cross-border sellers on other versions of its service, including in the UK, Vietnam, Malaysia, and Singapore. The broader context: TikTok鈥檚 push into social commerce makes sense given the way in which its platform has become enmeshed in the lives of consumers鈥攑articularly Gen Z.

While US regulators work to find their crypto footing, regulators in the EU, Singapore, and the UK are opening doors to crypto innovation by providing the clarity payment participants need to invest and innovate. The lack of clarity in the US impedes crypto payment adoption there鈥攁nd risks it being left behind. Incumbents could dominate crypto payments鈥� future.

Approximately 1,000 respondents were surveyed in each country: Australia, Brazil, China, France, Germany, Singapore, South Africa, Spain, the UK and the US.

While only two countries among the 28 we track will see a contraction this year, Singapore and Hong Kong will be barely positive. Chile will also post negative growth in total retail, the only country with that unfortunate distinction. Indonesia is an emerging digital economy star and has quickly ascended the ecommerce penetration rankings.

Both surveys were conducted during March 8-24, 2023 in Australia, Brazil, Colombia, France, Germany, Italy, Japan, Mexico, Singapore, Spain, the UK, and the US. Twilio is a provider of communication and authentication technology for software apps.

The decrease in traffic is creating logjams at ports in Singapore, Malaysia, South Korea, and China, as well as in Spain and elsewhere in Europe. Those pressures, coupled with other factors like drought in the Panama Canal and a potential strike by dockworkers on the East and Gulf Coasts, could create the conditions for supply chain bottlenecks last seen during the pandemic.

Approximately 1,000 respondents were surveyed in each country: Australia, Brazil, China, France, Germany, Singapore, South Africa, Spain, the UK, and the US.

Respondents were from United States, United Kingdom, Australia, Canada, Ireland, Malaysia, New Zealand, Singapore, and Thailand.

In Asia, Japan and Singapore鈥攐ften considered digital leaders鈥攁lso passed the threshold, but years after China and South Korea. And of all the countries in this group, it鈥檚 Indonesia whose ecommerce sales would surge fastest after 2020, surpassing 30% penetration by 2023. There will be a lull until 2025.

It also acquired two payment platforms in Singapore, 2C2P and Anext Bank, and posted 20 positions in Singapore鈥攐ne of its largest hiring pushes in the market. Now, with China鈥檚 tech crackdown largely in the rearview mirror, Alipay+ is redirecting its international expansions inward to capture the deluge of tourist commerce headed to China.

The company remains a regional powerhouse and has weathered Latin America鈥檚 macroeconomic headwinds better than most. 2023 will be an equally challenging year, but Mercado Libre has the building blocks it needs to find success where others, like Singapore-based Shopee, have struggled.

Meta is already taking steps in this direction with WhatsApp, where users in Singapore can use Stripe to pay local merchants via chat. As Facebook鈥檚 user growth slows, bringing messaging back would return an important feature of super apps to the mothership. US Messenger user growth is at a standstill.

Asia-Pacific is the most coveted region worldwide for its digital video streaming growth. And the OTT video segment has been gaining steam as audiences increasingly crave high-quality content. However, players have had to stay innovative as they cope with an array of business challenges that comes along with this diverse region.