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Thailand’s tourism sector has faced challenges in recent years due to a sharp decline in Chinese visitors and a sluggish global recovery in travel. In response, the government is launching TouristDigiPay on 18 August 2025, a programme that enables foreign tourists to convert cryptocurrency into Thai Baht for local spending. The initiative aims to revitalise tourism through alternative payment options.
The TouristDigiPay programme will be officially introduced at a press conference led by Deputy Prime Minister and Finance Minister Pichai Chunhavajira. Senior officials from the Ministry of Finance, the Securities and Exchange Commission (SEC), the Anti-Money Laundering Office (AMLO), and the Ministry of Tourism and Sports will also be present. Their involvement signals the government’s intent to implement the programme within a regulated and secure framework.
โครงการ TouristDigiPay เปิดตัวอย่างเป็นทางการแล้วครับ
TouristDigiPay จัดทำขึ้นมาเพื่ออำนวยความสะดวกและเพิ่มทางเลือกให้นักท่องเที่ยวต่างชาติสามารถแปลงสินทรัพย์ดิจิทัลที่ถือครองอยู่เป็น เงินบาท เพื่อนำไปใช้ชำระค่าสินค้าและบริการกับร้านค้าต่าง ๆ ในประเทศไทยได้อย่างสะดวกและปลอดภัย… pic.twitter.com/AeOL2QRHRp
— พิชัย ชุณหวชิร – Pichai Chunhavajira (@PichaiChun) August 18, 2025
Tourists in Thailand will be able to use cryptocurrency for local spending through a structured process. First, they convert their digital assets such as Bitcoin or USDT into Thai Baht using local cryptocurrency exchanges. The converted funds are then stored in e-money wallets, which support QR code payments, a common method across Thailand.
All transactions will be processed through platforms regulated by the Securities and Exchange Commission (SEC) and e-money providers approved by the Bank of Thailand. Tourists will not be spending cryptocurrency directly; instead, they will use Thai Baht for purchases after conversion.
Thailand is taking a cautious approach to cryptocurrency-based travel payments. The Bank of Thailand will regulate e-money providers, the Securities and Exchange Commission (SEC) will oversee bitcoin exchanges, and the Anti-Money Laundering Office (AMLO) will ensure that AML regulations are followed. Authorities will be able to oversee the TouristDigiPay programme’s deployment and manage any potential risks, as it will operate within a regulatory sandbox.
Not every traveller will have immediate access to the TouristDigiPay system. Only foreign visitors staying in Thailand temporarily will be eligible. Users must complete Know Your Customer (KYC) and Customer Due Diligence (CDD) checks to use the service. Accounts must also be opened with legally authorised e-wallet and digital asset exchange companies. These conditions are in place to prevent misuse and ensure compliance with financial regulations.
Cryptocurrency use in travel offers several practical advantages. Allowing visitors to exchange cryptocurrency for local currency eliminates the need for traditional foreign exchange, as many people already use digital assets for payments globally. Younger, tech-savvy tourists who prefer modern payment options will also find this approach appealing.
The plan presents Thailand with an opportunity to position itself as a country open to digital financial technologies and attract more foreign investment.
Tourism contributes nearly 12 percent to Thailand’s GDP, making it a vital part of the economy. As of 10 August 2025, international arrivals stood at 20.2 million, a 6.9 percent decrease from the previous year. The most significant drop came from Chinese visitors, who declined by 33 percent in the first half of the year. Thailand’s reputation has been affected by safety concerns, such as the abduction of actor Wang Xing. In response, the National Economic and Social Development Council (NESDC) has revised its 2025 foreign tourist forecast from 37 million to 33 million.
Thailand is adopting a multi-pronged strategy to revive its tourism sector. Alongside introducing crypto-based payment systems, the government is focusing on attracting travellers from the Middle East and Southeast Asia, promoting digital upgrades in tourism services, and developing policies to maintain long-term competitiveness. TouristDigiPay is one component of this broader strategy.
Thailand is not the first country to explore cryptocurrency’s potential in the travel industry. Bhutan has implemented a national cryptotourism system that accepts payments using various digital tokens via Binance Pay. Singapore has emerged as a crypto-friendly travel destination, with numerous establishments accepting digital currency.
El Salvador has adopted Bitcoin as legal tender and promotes its use through widespread adoption and the installation of Bitcoin ATMs. Thailand’s approach places it among these nations, while tailoring the system to suit its own regulatory and economic context.
If the TouristDigiPay pilot proves successful, Thailand may expand it into a nationwide system. There is also potential for collaboration with other Southeast Asian countries to develop a regional crypto tourism network. This could transform how tourists pay for services across the region.
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The crypto market is a fast-growing trading sector, already transforming both land-based and online businesses. Casinos were among the first to adopt crypto openly. But we are now standing on the brink of a technological revolution. Could blockchain reshape the way we enjoy online casinos?
Sebastian Jarosch believes so. As founder of Mithrillium Media Ltd, Jarosch brings unmatched expertise in the online casinos space. His company’s accolades—including Affiliate Programme of the Year at the 2022 SBC Awards and Best Casino Group at the 2020 CasinoMeister Awards—highlight both credibility and innovation. We spoke with him about the future of crypto in iGaming, and how affiliates must adapt to stay relevant.
Q: What does it mean for an affiliate platform to be “crypto-ready” in today’s iGaming landscape?
Cryptocurrencies like Bitcoin have become mainstream, and it is important for affiliate businesses to adapt to this. For players, it is very convenient to make deposits and withdrawals via crypto because the transactions are often instant, unlimited, free and anonymous. Many online casinos have already responded to this by integrating the most important cryptocurrencies into their cashiers. An affiliate site being crypto-ready means that the website is reviewing crypto casinos and lists them in an individual category.
Q: How are blockchain technologies changing the way casino comparison sites verify operators and rankings?
The essence of blockchain is that it is tamper-proof, decentralised, and anonymous. For review sites, this technology can be used to verify licenses, payouts, and trust certifications. Rankings and scores would be far harder to manipulate, as the verification records are public and time-stamped.
Q: Do token-based or cryptocurrency payment options influence player trust and engagement with affiliate platforms?
Crypto is very popular in iGaming, and many players use it for transactions. Players in crypto-friendly markets often view token support as a sign that a platform understands their preferences. It increases engagement by offering speed, lower fees, and sometimes exclusive bonuses. To develop trust, players want an expert opinion on reliability, licensing, and payout speed.
Q: What role does Web3 play in making affiliate operations more transparent for both users and operators?
Web3 decentralises the internet and creates a more open and honest experience. The idea is that Web3 will give customers more control over their private data and allow them to surf the internet anonymously. By making it more difficult to track their online activity, trust in online casinos can increase. Consumers would also gain more information about a site’s origins. This means affiliate websites would need to conduct extensive research to ensure that everything they say is accurate, as it can easily be fact-checked.
Q: How does Casino Groups ensure security and compliance when promoting casinos that accept cryptocurrency payments?
Security comes from testing and research. We only promote crypto casinos that are reliable, process payments in a timely manner, and are transparent about their terms and conditions. Not all casinos that deal with crypto are actually licensed, so hands-on reviews are necessary to determine if the operator is trustworthy. In terms of compliance, we follow jurisdictional advertising rules, use geo-blocking where required, and ensure all creatives meet responsible gambling standards.
Q: Are decentralised verification tools or on-chain reviews a realistic future for casino comparison sites?
On-chain reviews would provide much-needed transparency for casino reviews by making bonus data, player feedback, licenses, payout speeds, and even ownership verifiable. The challenge, however, is the adoption of such tools. This technology is complicated to set up and requires a critical mass of players and operators to participate. Until then, these tools will complement rather than replace traditional review systems.
Q: How do crypto-focused affiliates balance the appeal of faster payments and anonymity with responsible gambling principles?-
That is generally part of the review process, but with crypto casinos it is a little more complicated. It is important to ensure that crypto casinos are either licensed or have a good reputation in the industry. If a casino uses a weak license or is unlicensed, it often comes down to the operator’s work ethics to enable players to self-exclude or set deposit limits. Payout speed is one of the main reasons players choose crypto casinos, which is why we emphasise it in our reviews.
Q: Have you seen increased demand from players specifically searching for blockchain-powered or crypto-accepting casinos?
There is demand, and we have seen dedicated crypto casino affiliates pop up in various jurisdictions. Search volumes for crypto casinos and blockchain gambling platforms have steadily increased over the last 3–4 years, especially in regions with limited access to traditional payment methods. Players prefer online casinos with quick registration processes, fast payouts, and anonymity. Additionally, Crypto Casinos often offer huge welcome bonuses and are free of transaction fees.
Q: What innovations do you expect in the next 2-3 years that could redefine crypto affiliation in iGaming?
Over the next few years, crypto affiliation in iGaming is likely to be redefined by the wider adoption of stablecoins for both player deposits and affiliate payouts, reducing volatility and settlement delays. On-chain affiliate tracking will bring transparent, tamper-proof click-to-deposit attribution, while provably fair ranking algorithms will ensure comparison site scores cannot be manipulated without leaving a public record. Instant commission payments, triggered by verified player activity, will further streamline operations and build trust between affiliates and operators.
Q: Looking ahead, could crypto-readiness become a baseline expectation for all top-tier casino comparison platforms?
In the future, crypto-readiness will be normalised within the iGaming industry. Just as mobile optimisation became a standard in iGaming, crypto-readiness will be expected even from affiliates that don’t cater exclusively to crypto casinos, as it signals flexibility, modernity, and global reach. The winners will be businesses that are willing to adapt to changing trends and player preferences.
India’s cryptocurrency market has expanded rapidly, leading to increased attention from tax authorities. The Income Tax Department has issued over 44,000 notices to individuals who failed to report Virtual Digital Asset (VDA) transactions in their income tax returns. This forms part of a broader initiative to ensure compliance and bring crypto-related earnings within the tax framework.
The Central Board of Direct Taxes (CBDT) is leading efforts to identify individuals who have not disclosed profits from cryptocurrency activities. A total of 44,057 email and SMS alerts were sent to those flagged for unreported VDA transactions, according to local media outlets. In cases of continued non-compliance, the department has initiated reassessment orders, surveys, and search-and-seizure procedures under the Income Tax Act, 1961.
The NUDGE programme (Non-Intrusive Usage of Data to Guide and Enable) is an initiative by tax authorities to remind individuals to report their cryptocurrency transactions. It aims to notify potential defaulters before formal legal action is taken, allowing them to update their tax filings and avoid penalties.
India introduced a formal tax structure for VDAs in the financial year 2022–23. This includes a 30% flat tax on all crypto gains without deductions and a 1 percent Tax Deducted at Source (TDS) on each transaction, collected by exchanges or platforms. Across FY 2022–23 and FY 2023–24, taxpayers declared ₹705 crore (approximately $80.6 million) in crypto income.
Enforcement actions have revealed ₹630 crore (approximately $72 million) in unreported income linked to cryptocurrency activities. These cases involve both individual traders and crypto exchanges suspected of underreporting transaction data.
The CBDT is employing AI-based tools to monitor financial activity. Project Insight analyses discrepancies between reported income and actual spending or transaction patterns, while the Non-Filer Monitoring System (NFMS) identifies individuals likely required to file tax returns but who have not. Additionally, transaction data submitted by Virtual Asset Service Providers (VASPs) through TDS returns is cross verified with individual tax filings to detect non-compliance.
Despite widespread use of cryptocurrencies in India, strict tax regulations have raised concerns among traders. The 1% TDS on transactions and the 30% tax on gains have discouraged many retail participants. As a result, several exchanges have reported reduced trading activity, staff reductions, and, in some cases, closures.
Pakistan has proposed using surplus energy for Bitcoin mining, indicating a more flexible stance on cryptocurrency. The UAE has removed Value Added Tax on crypto transactions, making it a favourable environment for blockchain businesses.
In July 2025, BJP spokesperson Pradeep Bhandari proposed the idea of a national Bitcoin reserve. Coinbase has announced plans to re-enter the Indian market later this year, reflecting confidence in its long-term potential. Despite current regulatory challenges, India remains a significant player in the global crypto landscape. The future will depend on how effectively the government balances regulation with innovation.
As more individuals and institutions in India engage with cryptocurrency, authorities are increasing oversight to prevent tax evasion involving digital assets. This approach reflects the government’s intent to build a strong compliance framework around emerging financial technologies.
The US House of Representatives has passed the first major national cryptocurrency legislation, the Genius Act. The act, backed by the Donald Trump administration, aims to establish a clearer regulatory framework for cryptocurrencies and other digital assets. It is now headed to Trump for signature.
The Genius Act will establish a regulatory framework for stablecoins, a type of cryptocurrency pegged to “safe” assets like the US dollar. These digital tokens are used by crypto traders to move funds quickly and avoid the volatility of other coins like Bitcoin or Ethereum. The latest move marks a major milestone for the crypto industry, which has been pushing for federal legislation for years.
Trump is expected to sign the legislation on 18 July 2025. The Senate had approved the measure last month. The Genius Act is one of three pieces of crypto legislations currently advancing in the US, backed by the US president. Trump has taken a more proactive approach towards cryptocurrency as he launched a business called World Liberty Financial, saying, “I think crypto is one of those things we have to do.” This marks a turnaround from a few years ago, when he said Bitcoin seemed like a “scam” and a threat to the US dollar. It is also in stark contrast to the Biden administration, where the White House has been leading a crackdown on crypto firms in recent years.
The provisions of the act include requiring stablecoins to be backed one-for-one with US dollars or other low risk assets. Stablecoins alone have surged in popularity, helping bridge the gap between traditional finance and blockchain.
Critics argue that this bill introduces systemic risk by legitimising stablecoins without airtight consumer protections. Big tech companies could gain an unfair edge in financial markets, acting like banks without them being subject to similar oversight. Some opponents even see the bill as a backdoor endorsement of Trump-linked crypto ventures. Critics say voting for the legislation could be viewed as condoning Trump’s personal investments.
For the crypto industry, this bill is a long-awaited win. Firms now see a clearer path to innovation and consumer adoption, and many believe this could push crypto into the mainstream. Bitcoin surged past $120,000 this week, with markets reacting favourably to the regulatory clarity.
The latest move comes as Trump is reportedly working on a presidential order to allow retirement accounts to include crypto, gold, and private equity—a move that could bring trillions in investment to the sector.
The Philippines isn’t just catching up in the blockchain space—it’s sprinting ahead. Fuelled by a young, digitally native population and a hunger for innovation, the country has become a beacon of cryptocurrency adoption in Southeast Asia. While most people still think of blockchain as just Bitcoin or Ethereum, the reality here is far more diverse.
Philippine Blockchain Report 2025 was unveiled during the Philippine Blockchain Week 2025 on 10 June 2025 by Gorriceta Africa Cauton & Saavedra, Gobi-Core Philippine Fund, the Blockchain Council of the Philippines, and Tether. This report serves as a vital snapshot and roadmap, highlighting the country’s enthusiastic adoption of digital transformation.
With a median age of 26.1, the Philippines boasts a digitally fluent, mobile-first generation. This group is driving the country’s appetite for decentralised technologies, cryptocurrencies, and Web3 platforms. Unlike other countries that resist change, the Philippine government has largely welcomed blockchain.
Philippine Blockchain Report 2025 launch ceremony.
FinTech and cryptocurrency: The country ranks as the 8th highest in the 2024 Global Crypto Adoption Index, signifying a widespread embrace of digital assets. Cryptocurrency is the most recognised blockchain application among Filipinos, primarily used for trading, payments, gaming, and social media.
Gaming and NFTs: The “Play-to-Earn” (P2E) model gained immense popularity, particularly during the pandemic, with many Filipinos referring to themselves as “Metaverse Filipino Workers” (MFWs). Games like Axie Infinity provided an alternative source of income, with some players earning more than the minimum wage. Yield Guild Games (YGG), a local gaming guild, has been instrumental in this space, even raising $4.6 million in 2021 from A16z.
Beyond FinTech and gaming, blockchain is being increasingly adopted for various business applications, including identity, logistics, and enterprise solutions. Examples include FilPass for secure digital identity, BayaniChain for Blockchain-as-a-Service, and FleetHive for B2B delivery and load-sharing using blockchain.
The Bangko Sentral ng Pilipinas (BSP) guidelines for Virtual Asset Service Providers (VASPs) represent a step towards safer cryptocurrency usage. They’ve frozen new VASP applications temporarily to focus on stability and quality, not just growth. Plus, they’re experimenting with Central Bank Digital Currencies (CBDCs) through Project Agila.
The Philippines Securities and Exchange Commission (SEC) is stepping up. From advising on initial coin offerings (ICOs) to proposing rules for Digital Asset Exchanges, the commission is establishing a solid legal foundation. The Rules on Crypto-Asset Service Providers (CASPs) are a major leap forward in creating clarity and consistency.
Project Marissa (budget transparency), eGovChain (public service efficiency), and tokenised treasury bonds are just the beginning. The Cagayan Economic Zone Authority (CEZA) and the Freeport Area of Bataan (AFAB) have introduced licences for offshore blockchain businesses, aiming to position their zones as blockchain hubs.
A survey revealed that Filipinos’ involvement and awareness of blockchain technology vary significantly. While a vast majority (85 percent) have no direct connection to blockchain in their daily lives, and 70 percent are unfamiliar with the technology, a significant portion (13 percent) regularly use blockchain-based applications.
Awareness gap: According to a 2023 survey, even though the Philippines has a high percentage of cryptocurrency owners, just 46 percent of Filipinos fully comprehend cryptocurrencies, and only 28 percent are familiar with Web3. Wider acceptance is significantly hampered by this knowledge gap.
Perception of security: Among those aware, 74 percent expressed confidence in the security of blockchain. The rise of centralised exchanges like Coins.ph and PDAX has contributed to this by simplifying the user experience and providing a more structured environment.
Essential factors: Filipinos give security (74 percent), transparency (72 percent), and cost-effectiveness (66 percent) top priority when it comes to blockchain technology. This suggests that applications with solid compliance and reliable support are preferred.
Future intent: Over half (55 percent) of respondents are open to using blockchain in the future, but their intent is often conditional on further security measures being implemented.
In a compelling keynote address delivered on the AIBC stage as part of the SiGMA Asia conference and expo taking place in Manila this week, Dr. Jane Thomason, a global thought leader in blockchain and emerging technologies, painted a bold and vivid picture of the future where gaming, blockchain, and digital economies intersect to reshape societies.
It all began, as she recalled, in 2016. “My son came to me and asked, ‘Mom, did you get any of that Bitcoin when I told you?’” she shared. Back then, Bitcoin had surged to around $2,000 – far above its $0.06 price tag in 2010. A thousand-dollar investment would’ve made her a billionaire. But her son wasn’t just talking crypto. “Bitcoin is built on blockchain,” he told her, “and you need to learn about that.”
That conversation sparked a journey that would take Dr. Thomason deep into the world of blockchain, gaming, and digital transformation. Her son, a gamer, also opened her eyes to gaming – not just as entertainment, but as a cultural and economic force poised to redefine our future.
Dr. Thomason emphasised the convergence of technologies: blockchain, AI, VR, spatial computing, and digital assets – all of which are already embedded in the gaming ecosystem. These tools aren’t just shaping virtual experiences; they’re sculpting the way we work, learn, socialize, and even fall in love.
In the digital age, children growing up on platforms like Roblox are building data-driven resumes without ever drafting a CV. These platforms record their problem-solving skills, leadership qualities, and collaboration styles – offering a new kind of credential that employers may one day value more than traditional degrees.
“Asia is indisputably the world’s biggest gaming market with nearly 3.5 billion players – from the top 100 gaming companies in the world, 62 are from Asia. We are in the epicenter of the future of gaming. <“
The gaming market in the region is valued at close to $400 billion, with mobile gaming now accounting for 50% of all activity. Innovation hubs across Southeast Asia are cultivating talent, developing eSports ecosystems, and exporting Asian gaming narratives to the world. “The issue of connectivity in emerging markets is key.
The growth of gaming is going to come from emerging markets and it’s going to be mobile growth.” 79% of people under 22 are playing mobile games. “Console games are for the rich – mobile games are for everyone.”
“Asia is building the future of gaming with esports”, she goes on to say. Indeed, the population of esports players is expected to grow to 600 million.
eSports, she noted, is no longer a niche. “Streaming is the new stadium,” she declared. With 2.5 billion hours of gaming content watched and 15 million daily views globally, gaming is now the biggest form of entertainment and leisure in the world.
Dr. Thomason also highlighted the rapid emergence of the Middle East as a key player. Saudi Arabia, for instance, has grown into the 19th largest gaming market globally, with gamer revenues averaging $270 per person – far exceeding China’s $32. In 2024, the country hosted the world’s largest eSports prize pool and aims to become a global gaming hub.
With nearly 400 million Arabic speakers and a 95% smartphone penetration rate, the Middle East has nearly as many gamers as Europe – and a young, tech-savvy population ready to fuel its ascent.
The most transformative impact of gaming, according to Dr. Thomason, lies in its ability to shape new economic models. Web3, NFTs, digital currencies, and AI are coalescing into a framework where users own, govern, and profit from their participation. “Digital property rights,” she said, “will unlock innovation and wealth creation in an open metaverse.”
And yes, she’s still using the term metaverse. Despite Meta’s public missteps, the concept of immersive, persistent digital environments enhanced by AR, VR, and spatial computing is very much alive. From virtual fashion to digital dating, entire economies are emerging in these spaces.
She described a future where people don’t just work from home – they work in games. Where digital avatars represent our persistent identity across platforms. Where education, healthcare, and even aging are gamified. “AI and blockchain,” she noted, “are the yin and yang of the digital future.”
For countries like the Philippines and others in the Global South, the opportunity is immense – but so is the responsibility. “We have to train our young people in VR, 3D printing, and AI,” she warned. “Universities move too slowly. The world won’t wait.”
And with Gen Z and Gen Alpha growing up with mobile phones as extensions of their identity, the integration of physical and digital life is only accelerating. “They socialize through games. They live online. This is their world.”
Dr. Thomason’s message was clear: gaming is not just play – it is the foundation of the next economy. From Asia to the Middle East, from blockchain to AI, from avatars to virtual property, a new society is emerging.
“If you want to understand the future,” she concluded, “you have to understand the gamers.”
AIBC Asia 2025 opened this morning at the SMX Convention Center, Manila, with a keynote that set a decisive tone for the summit’s exploration of next-generation digital security. On the AIBC Stage, Kapil Dhiman, Co-Founder and CEO of Quranium, delivered a business-focused analysis of the convergence between quantum computing and blockchain technology. A topic of immediate relevance as the blockchain sector now secures over $3 trillion in digital assets. “Today, as Olga (Managing Director of AIBC) mentioned, I’m going to talk about the convergence of three very powerful forces, and I’m going to pay more importance to two of them, blockchain and quantum computing,” Dhiman began, highlighting the urgency for industry leaders to recognise and respond to the existential vulnerabilities and opportunities emerging at this intersection.
Kapil Dhiman is Co-Founder and CEO of Quranium, the first quantum-uncrackable Layer 1 blockchain, designed to secure the next era of the internet. With more than a decade of experience in digital innovation, Dhiman has led Quranium to global recognition, including accolades such as DMCC Best Web3 Startup 2024 and Cointelegraph Best Startup 2025. His leadership is marked by a commitment to building quantum-secure infrastructure, backed by Animoca Brands and a network of over 50 partners in 12 countries.
Dhiman’s keynote dissected the urgent need for blockchain networks to prepare for quantum threats, explaining the technical and regulatory shifts already underway. He outlined how quantum computing’s exponential processing capabilities pose a direct challenge to the cryptographic standards that underpin blockchain security. “Quantum computing is the biggest threat to Bitcoin ETFs. That’s where we are going to start diving deeper into why that statement came out in a legal filing,” he noted, referencing recent industry developments and regulatory signals.
Key insights from the keynote included:
The blockchain industry is currently securing more than $3 trillion in cryptocurrencies with cryptographic algorithms that are fundamentally vulnerable to the processing power of quantum computers.
Quantum computers, by harnessing qubits, are capable of solving mathematical problems underpinning current blockchain encryption such as ECDSA at speeds that could render today’s security obsolete.
Regulatory bodies, including the US National Institute of Standards and Technology (NIST), have announced that ECDSA will be discontinued by 2030, giving the industry a five-year window to transition to post-quantum cryptography.
Governments and industry leaders globally are investing billions in both quantum computing and the development of quantum-resistant cryptographic solutions, with mandates for post-quantum standards already in place for public sector contracts in several countries.
Major blockchains, including Bitcoin, Ethereum, and Solana are actively developing and proposing upgrades to integrate post-quantum cryptography, recognising that survival in the quantum era will depend on the rapid adoption of these new standards.
Kapil Dhiman’s keynote launched AIBC Asia 2025 with a call to action: “Whenever technology advances, we always experience every decade something new or something revolutionary comes to the world, which requires attention to think differently.” As the summit continues, AIBC Asia 2025 will spotlight the innovators and strategies shaping the next chapter of digital trust and resilience. Stay with AIBC News for exclusive coverage, timely insights, and real time updates on the future of tech.
AIBC Asia 2025 summit is set to commence in less than a week in Manila, from 1 to 4 June 2025, with the AIBC Asia Pitch taking place at 14:45 on June 4 at the SMX Convention Centre Manila on the AIBC Stage. The event will be hosted by Olga Yaroshevsky, AIBC Managing Director. The AIBC Asia Pitch is a showcase for emerging ventures building the future of blockchain, digital assets, decentralised finance, and AI.
This competition is more than a stage for founders to present their vision, it is a launchpad for early-stage companies to access capital, mentorship, and partnerships that can accelerate growth in the global Web3 and fintech landscape. Finalists are given direct exposure to investors and corporate partners, along with access to premium networking, hands-on guidance from leaders in blockchain and crypto, and the chance to secure resources critical for scaling their technology. The AIBC Pitch is a unique opportunity for founders to validate their solutions, refine their go-to-market strategy, and connect with the wider digital assets ecosystem.
Meet the four judges
Laura K. Inamedinova
Chief Global Ecosystem Officer, Gate.io
Laura K. Inamedinova is an award-winning entrepreneur, investor, and keynote speaker who has been shaping the Web3 landscape since 2016. At Gate.io, she oversees global expansion and investment for one of the world’s leading digital asset exchanges and its venture capital arm, GVC, driving adoption and ecosystem growth across blockchain markets.
Anton Golub
Chief Business Officer, Freedx
Anton Golub leads business strategy at Freedx, a next-generation centralised exchange. Previously, he founded and operated his own crypto exchange and market-making firm, and has served on the boards of multiple Web3 and fintech companies, bringing deep expertise in digital asset trading and decentralised finance.
Adrian Niculescu
CEO, TOMORROWerse Capital
Adrian Niculescu is a fintech investor and entrepreneur with over two decades of experience building and mentoring technology companies. He has guided more than 30 startups since 2014, completed 250 real estate transactions, and brings a strong background in venture investment and scaling digital businesses.
Dom De Leon
Executive Director, DEVCON Philippines
Dom De Leon is a technology leader with over 10 years of experience in advertising, fintech, and sustainable development. As Executive Director of DEVCON, the Philippines’ largest developer community, he fosters talent development and inclusivity within the local tech and blockchain ecosystem.
iCargo Pacific celebrates their win at AIBC Asia Pitch 2024.
Pitch startup participants
Red Circle Global –AI voice automation for iGaming and forex operators, licensed in Manila
Based in Manila and holding a local licence, Red Circle Global delivers Circle Voice AI, an advanced voice automation platform tailored for iGaming and forex operators. The solution uses AI-driven inbound and outbound call handling, real time call streaming, and sentiment analysis in more than 140 languages to streamline KYC, player retention, and VIP engagement. Integrated with Twilio and ElevenLabs, the platform automates compliance and enhances operational efficiency for both B2B and B2C clients. Red Circle Global is currently not raising external funding and operates through monthly subscriptions, enterprise licensing, pay-per-use add-ons, and setup fees, with a focus on optimising customer experience and reducing costs.
Analytiks Inc. – AI-driven risk modelling and fraud detection for gaming operators
Headquartered in Taguig City, Analytiks Inc. provides AI-powered risk modelling and fraud detection for gaming operators. Their machine learning platform analyses player behaviour to detect suspicious activity, prevent fraud, and support responsible gaming, combining AI training, custom solutions, and consulting. Analytiks Inc. is actively raising funds to scale its AI-driven risk modelling and fraud detection solutions and has been entirely bootstrapped to date. Revenue is generated through custom AI solutions, training, and consulting services, with KPIs focused on revenue growth and client satisfaction.
Bitcoin Lawyer –Bitcoin native legal tech for global mobility and compliance
Operating from St Vincent and the Grenadines, Bitcoin Lawyer is the first Bitcoin-native legal-tech firm, offering global mobility and legal advisory services for high-net-worth individuals. The firm operates entirely on Bitcoin, providing billing, compliance, and advisory through proprietary AI workflows and Visa Mate.ai, an instant eligibility checker. Bitcoin Lawyer is in the beginning stages of fundraising, with revenue driven by retainer fees, compliance services, and premium advisory, focusing on client lifetime value and Bitcoin payment adoption.
Dafi –Web3 decentralised finance platform empowering smallholder farmers
Based in Quezon City, Dafi (Decentralized Agriculture Finance Initiative) is a Web3 platform built on the Internet Computer Protocol (ICP) that connects smallholder farmers to decentralised finance. Using blockchain smart contracts, tokenisation, and decentralised identities, Dafi enables farmers to create verifiable digital profiles, earn agric-tokens, and access microloans, insurance, and market connections. Dafi is currently in the pre-seed stage and seeking initial funding to support product development, user testing, and early adoption. Revenue will come from transaction fees, subscriptions, and premium analytics, with KPIs focused on user growth, transaction volume, and capital raised for farmers.
Pitch winner prize
SiGMA Pitch participants compete for substantial support packages designed to accelerate business growth and market entry:
Startup Marketing Package (€21,300): Includes branded exhibition space, premium office workspace, comprehensive digital promotion services, and privileged networking opportunities across SiGMA conferences.
Industry Education Package (€2,600): Provides selected training programmes from the iGaming Academy, ensuring teams maintain regulatory compliance and sector expertise.
Cloud Infrastructure Package (€10,000): Delivered through AWS Activate, this package offers technical guidance, system architecture consulting, and $10,000 in AWS credits for confident business scaling.
Talent Acquisition Package (€2,000 & reduced pricing): Grants access to r77’s professional recruitment solutions, executive search services, compensation analysis, and leadership development initiatives.
Brand Development Package (€7,000 & reduced pricing): Chips offers strategic branding consultation, social platform enhancement, and comprehensive website evaluation services.
Blockchain Growth Package (€100,000): Through ZBX, startups receive complimentary platform listing, promotional campaigns, and specialised resources for blockchain venture acceleration.
Technology Foundation Package (Up to €400,000): Encompasses cloud computing and SaaS credits from leading providers, including Nvidia, DigitalOcean, Notion, and DocSend, for advanced technological infrastructure.
The start-up Pitch showcases the entrepreneurial spirit driving innovation across Asia’s rapidly expanding gaming and technology sectors, highlighting diverse approaches to platform development, user engagement, and market expansion.
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Bhutan has introduced the world’s first national-level crypto tourism payment system. On 7 May 2025, Binance announced its collaboration with Bhutan’s Department of Tourism and DK Bank to create a crypto payment system designed specifically for tourists.
Bhutan’s fully integrated crypto payment system allows tourists to use over 100 cryptocurrencies, including Bitcoin, Ethereum, and Binance Coin, to pay for nearly every aspect of their trip—hotels, tickets, meals, guides, and souvenirs—all through a single app. This system supports major coins, stablecoins, and altcoins, accommodating crypto holders worldwide. To use this system, users need a Binance account with the Binance Pay feature enabled.
Binance’s announcement stated, “Bhutan’s model is the first to offer a fully integrated, end-to-end crypto payment system at the national level. It also addresses previous limitations by offering real-time confirmations, near-zero fees, and a fully licensed local bank handling settlements on the ground.”
The crypto payment system in Bhutan now covers a wide range of services. Tourists can use cryptocurrencies to purchase airline tickets, local flights, hotel accommodations, homestays, guided tours, trekking experiences, local handicrafts, souvenirs, food, drinks, and entry fees to attractions. Additionally, near-zero transaction fees make it cheaper and more efficient than traditional card payments.
“This is more than a payment solution — it’s a commitment to innovation, inclusion, and convenience,” said Damcho Rinzin, director of Bhutan’s tourism department.
Experience #Bhutan with the world’s first national crypto tourism payment system!
Powered by Binance Pay and DK Bank, it offers seamless crypto payments for flights, hotels, local crafts, and much more.
Over 100 local merchants await on this cashless adventure. @tourismbhutan… pic.twitter.com/FUYVo4HYMe
— Binance (@binance) May 7, 2025
With Bhutan’s new system, there’s no need for local currency or cash. Simply scan a QR code with your Binance App. This seamless, app-based experience eliminates the hassle of currency exchange and the need for a wallet. Even remote businesses that never had card machines can now accept crypto.
The announcement added, “Even Bhutan’s most remote businesses can now accept crypto through a phone, gaining access to international travellers with just a QR code.”
Binance CEO Richard Teng highlighted that the system enhances crypto payments in travel, setting a precedent for how technology can bridge cultures and economies. He added that this initiative demonstrates Binance’s commitment to innovation and its belief in a future where digital finance fosters global connectivity and enriches travel experiences.
Teng stated, “This initiative exemplifies our commitment to innovation and our belief in a future where digital finance empowers global connectivity and enriches travel experiences.”
Bhutan’s state-run investment arm, Druk Holding and Investments (DHI), has been aggressively accumulating Bitcoin. Since officially beginning its mining operations in 2019, Bhutan has significantly ramped up its efforts by 2023. The country now possesses over 13,000 BTC, valued at more than $780 million, which constitutes approximately one-third of its GDP.
Bhutan ranks 4th globally in government BTC holdings, trailing only the US, China, and the UK. In 2020, Bhutan’s central bank issued a cautionary warning about cryptocurrencies like Pi. Although crypto remains in a legal grey area, the new system signals a shift towards acceptance and innovation.
Talking exclusively with AIBC News, DK Bank shared their thoughts on the development and implementation of Bhutan’s tourism crypto payment system.
“DK Bank is proud to serve as both the merchant acquirer and payment aggregator for Bhutan’s new tourism crypto payment system, launched in partnership with Binance Pay and the Department of Tourism. Our role was to facilitate seamless integration across the tourism ecosystem, enabling over 100 merchants to accept secure crypto payments from travellers.”
Further speaking on the expected impact of this new system on Bhutan’s tourism industry, DK Bank stated, “Bhutan currently offers tourists multiple payment method options. The introduction of Binance Pay complements this by benefiting tourists and merchants in Bhutan alike by offering an alternative blockchain-based payment method that is fast, seamless, and cost-effective. We believe it will also open new economic pathways for local vendors and artisans, particularly those in remote regions.”
Speaking on the future of cryptocurrency in the tourism sector, the bank concluded, “From our perspective, cryptocurrency has a growing role to play in the future of tourism. As adoption increases globally, it offers a compelling solution for countries like Bhutan to leapfrog traditional infrastructure challenges, empower small businesses, and appeal to a digitally savvy generation of travellers.”
India’s apex court has raised serious concerns about the increasing popularity of Bitcoin trading in the country, highlighting the government’s slow pace in establishing regulatory measures. During a hearing, the court compared the unregulated use of Bitcoin to a “refined form of Hawala,” an informal and often illegal money transfer system.
According to local media outlet Business Standard, during a bail hearing for Shailesh Babulal Bhatt, who has been in custody since August 2023 on charges of illegal Bitcoin trading, the Supreme Court made some eyebrow-raising comments. Justice Surya Kant openly admitted he doesn’t fully understand Bitcoin but emphasised the lack of any regulatory framework. In his words, “Trading in Bitcoin in India is like dealing with a refined way of Hawala business.”
Shailesh Babulal Bhatt was arrested in August 2024 by the Directorate of Enforcement (ED) in Ahmedabad under the Prevention of Money Laundering Act (PMLA). He is accused of extorting 2091 Bitcoins, 11000 LiteCoins, and INR 14.50 Crore in cash, valued at approximately INR 1232.50 Crore, from two employees of Satish Kumbhani, the promoter of the collapsed BitConnect platform.
Bhatt remains in custody as the investigation continues, with the ED having already attached properties worth INR 442 Crore in connection with the case. The Supreme Court is now considering his plea but has also questioned the broader legality of his actions due to India’s murky crypto laws.
Two years ago, the same bench asked the Centre to define its stance on virtual currencies. A growing number of Indians are trading in crypto with zero legal safety nets. In India, cryptocurrencies are not legally defined as legal tender, but they are not explicitly illegal either. The government has a comprehensive taxation regime in place, including a flat 30 percent tax on capital gains from cryptocurrency transactions.
This half-legal status has led to total confusion. Police and regulatory agencies are unsure how to proceed with crypto-related crimes. Meanwhile, the Enforcement Directorate (ED) is stepping in to investigate alleged money laundering, but even they are stumbling in the dark without clear guidelines.
At the time of the hearing, Bitcoin was worth ₹82 lakh (around $100,000). Advocate Rohatgi, defending Bhatt, even joked that one could walk into a foreign showroom and buy a car with a single Bitcoin.
“All I understand is that there are some genuine Bitcoin and some are fake Bitcoin,” Justice Surya Kant said. Rohatgi stated, “You see, trading in Bitcoin in India is like dealing with a refined way of Hawala business. There are no regulations at present. I checked on Sunday, and the value of one Bitcoin was Rs 82 lakh.”
Countries like the UAE, Singapore, and even El Salvador are building crypto ecosystems. Meanwhile, India risks losing its brightest minds to countries with friendlier laws. It’s time for the Centre to create a proper regulatory framework that could solve half the problems overnight.
The UK government has unveiled draft legislation aimed at tightening the reins on cryptocurrency operations within its borders. The move signals the country’s closer cooperation with the United States instead of following the European Union’s approach to digital assets.
UK Finance Minister Rachel Reeves announced legislation that will extend current financial regulations to crypto companies within the country by this year’s end. The proposed rules will bring crypto exchanges, dealers, and agents under the purview of financial regulators. To put this in context, according to recent government data, 12 percent of British adults now own or have previously owned cryptocurrencies like Bitcoin or Ethereum—triple the figure from 2021.
During her recent trip to Washington, Rachel Reeves discussed crypto regulations with US Treasury Secretary Scott Bessent. Further discussions have been planned for June. Meanwhile, the finance ministry said, “Crypto firms with UK customers will also have to meet clear standards on transparency, consumer protection, and operational resilience.” Additionally, Reeves will unveil her broader strategy for revitalizing the UK’s financial services sector in her Mansion House speech this July.
Legal experts say the UK is clearly leaning toward the US approach, treating crypto assets largely as securities—a stark contrast to the European Union’s more tailored and layered framework under its Markets in Crypto-Assets Regulation (MiCAR).
Under the new rules, stablecoin issuers based in the UK will be subject to financial regulation. These tokens, pegged to traditional currencies like the pound or dollar because they are designed to maintain a fixed value, will need to meet strict standards of reserve management and solvency. Meanwhile, Bank of England Governor Andrew Bailey has long warned about the risks of cryptocurrencies like Bitcoin. However, he has shown more support for regulating stablecoins due to their potential use in everyday transactions.
The announcement comes amid US President Donald Trump embracing cryptocurrencies and promising to cut red tape for the industry. However, in a highly anticipated speech at the White House, announcing his new strategy to boost the US economy, including new tariffs on imports from 50 countries, Trump omitted the mention of cryptocurrency. Trump’s previous campaign promised to make the US the ‘cryptocurrency capital’. However, this deregulatory approach is drawing criticism from European policymakers concerned about its global implications. Euro zone finance ministers believe the US approach could affect monetary sovereignty and financial stability.
MHC Digital Group, a major player in digital asset infrastructure, has teamed up with FalconX, one of the world’s top digital asset prime brokers. This move signals a powerful shift towards institutional maturity in Australia’s digital asset market.
MHC specialises in building the infrastructure that makes digital asset trading smooth, reliable, and scalable. MHC’s vision is to provide sophisticated Australian investors with top-notch access to digital assets through trusted and secure channels. Their strategy leans heavily on blending innovation with traditional finance know-how, creating a reliable environment where significant investments can feel comfortable.
FalconX is known globally for connecting top-tier institutions with digital asset trading opportunities and managing everything from execution to settlement. Beyond just buying and selling, FalconX excels in handling risk and ensuring deep liquidity—a critical component for institutions that want to enter the market without causing price ripples.
Matt Long, General Manager, APAC and Middle East at FalconX, commented, “Partnering with MHC, with its deep understanding of Australian investors and proven track record in digital assets, is a significant milestone in FalconX’s expansion across APAC.”
Enthusiastic retail investors initially dominated the crypto scene in Australia. Now, institutions are entering the fray. This partnership demonstrates that the digital asset game has evolved beyond FOMO; it now focuses on strategic investment and professional-grade services. Australia is shaping clearer crypto regulations, and this partnership leverages that regulatory wave, setting a standard for compliance and sophistication.
MHC Markets now offers a menu of advanced products—derivatives, options, and structured deals—tailored for seasoned investors. It’s no longer just about spot trading Bitcoin or Ethereum; it’s about crafting full investment strategies. Wholesale investors need more than basic buy-sell options. They seek hedging, diversification, and strategic exposure. This partnership delivers precisely that.
Edward Carroll, Head of MHC Markets, commented, “Our combined expertise creates a powerful offering for Australian wholesale investors who have a proven history of utilising derivatives in traditional asset classes. ”
By bringing together MHC’s traditional finance expertise and FalconX’s digital asset prowess, the partnership builds a bridge that institutional investors can confidently walk across. Sophisticated investors are cautious by nature. This partnership reassures them with a blend of cutting-edge technology, risk management, and regulatory compliance. Offering derivatives and structured products is a significant maturity marker. It shows that the Australian market is evolving from simple trades to complex financial strategies.
Institutional investors are moving into crypto globally, not just in Australia. Structured products, risk management tools, and regulatory compliance have become the new gold standard.
Fund managers are eyeing crypto for portfolio diversification. With proper infrastructure and product offerings, digital assets could soon become a staple in managed funds. Australia’s retirement savings industry is huge and growing. As more super funds explore digital assets, the potential for market expansion is off the charts.