We hear a lot about financial inclusion from fintech developers and the venture capitalists who back them. As they explain their roadmaps, we often realize that there isn’t real differentiation between user acquisition and actual inclusion for overall social upliftment.
But there are people who don’t follow that pattern. We recently spoke with Amine Chabbi, the CSO of central bank digital currency developer ProsperUs. He explained that the teams building CBDCs operate with a different mandate: after their product is shipped, they need to hand over full control to financial institutions. Revenue can still be drawn by performing maintenance, but someone else will be at the wheel.
ProsperUs operates in Europe and North Africa, but the company has its eyes on Southeast Asia. It has specifically identified Malaysia, the Philippines, and Indonesia as places where it might be able to land clients, but the path to CBDC proliferation may take a decade or longer.
ProsperUs is a punchy company. It has a team of 15 people who are building the infrastructure needed for banks to roll out CBDCs, and they’re giving developers with many more resources a run for their money. Check out KrASIA’s full interview with Chabbi here.
Commercializing AI: Chinese tech firm Megvii “uses AI to create AI.”
Chinese automakers dominate the booming Thai EV market.
Japan automakers to showcase EVs at Indonesian G-20 meetings.
Philippines startup MarCoPay gives sailors financial freedom at sea.