HONG KONG, Aug. 19, 2025 /PRNewswire/ — The Digital Asset Anti-Money Laundering Council (DAAMC), a groundbreaking, industry-led nonprofit organization supported by the Hong Kong Virtual Assets Industry Association (HKVAIA), proudly announces its launch. DAAMC is dedicated to promoting compliant stablecoin issuance and enhancing financial integrity in Hong Kong’s digital asset ecosystem through collaboration among regulated financial institutions to develop and promote best-in-class Anti-Money Laundering and Counter-Financing of Terrorism (AML/CFT) standards and practices.

DAAMC responds to the Hong Kong Monetary Authority’s (HKMA) Guideline on Anti-Money Laundering and Counter-Financing of Terrorism (For Licensed Stablecoin Issuers) and explores emerging global industry compliance standards, such as on-chain identity verification, to ensure Hong Kong’s regulated stablecoins achieve mainstream adoption by balancing risk control with sustainable business development.

The Council, initiated by four leading organizations with diverse expertise, is committed to shaping the future of digital finance in Hong Kong, focusing on stablecoin innovation and compliance: 

• HashKey Group: A leading digital asset financial services group in Asia with global operations. Its subsidiary, HashKey Exchange, is the licensed virtual asset exchange in Hong Kong, holding Type 1, Type 7, and AMLO licenses issued by the Hong Kong Securities and Futures Commission.
• RD InnoTech Limited (a subsidiary of RD Technologies Group): A participant in the HKMA Stablecoin Issuer Sandbox, advancing compliant stablecoin issuance, ecosystem development, and use-case expansion. 
• Beosin: A leading blockchain security and compliance solutions company specializing in smart contract security audit, AML/CFT tools, and blockchain forensics.
• SlowMist: A leading blockchain threat intelligence firm, providing services such as security audits, red teaming, AML/CFT solutions, and more.

This diverse coalition reflects DAAMC’s commitment to uniting industry expertise to address the unique AML/CFT challenges of digital assets, including stablecoins, to achieve large-scale adoption and integration with traditional finance. By integrating expertise in digital asset trading, stablecoin innovation, blockchain analytics, and threat intelligence, DAAMC aims to establish a compliant ecosystem, setting a global benchmark for financial integrity in Hong Kong’s stablecoin issuance.

A Strategic Response to Hong Kong’s Stablecoin Ambitions

Hong Kong is solidifying its position as a global leader in digital finance through the government’s Digital Asset Policy Statement 2.0 (June 2025) and the recently effective Stablecoins Ordinance. DAAMC’s establishment aligns with this vision, directly supporting the HKMA’s Guideline on Anti-Money Laundering and Counter-Financing of Terrorism (For Licensed Stablecoin Issuers) to ensure regulated stablecoins comply with global financial standards while promoting innovation. DAAMC actively engages with industry discussions on regulatory strictness, committed to researching and exploring how to balance regulatory requirements with business development, enabling Hong Kong-issued compliant stablecoins to achieve mainstream adoption by regulated institutions and traditional enterprises.

Initiated by founding members HashKey Group, RD InnoTech Limited, Beosin, and SlowMist, DAAMC is dedicated to promoting digital asset industry development and collaboration, through activities such as offline seminars to engage relevant industry stakeholders in exploring innovative compliance solutions for stablecoins. DAAMC will soon release two AML technical reports on stablecoins to provide further industry guidance. At the end of this month, DAAMC will host a seminar, bringing together industry experts to discuss stablecoin compliance and innovation strategies. All industry stakeholders are cordially invited to participate.

DAAMC’s Mission and Impact

DAAMC serves as a central platform for regulated financial institutions—including banks, licensed Virtual Asset Service Providers (VASPs), and future licensed stablecoin issuers—to collaborate on critical initiatives. Led by its founding members, the Council will focus on: 

• Developing Industry Best Practices: Creating practical guidelines for on-chain identity verification, Travel Rule implementation, risk-based digital asset management, and AML frameworks for Decentralized Finance (DeFi) to ensure compliance aligns with traditional financial standards. 
• Fostering Regulatory Dialogue: Building trusted communication channels with regulators and law enforcement to shape effective policies that support stablecoin mainstreaming. 
• Promoting Professional Education: Partnering with academic institutions to elevate AML/CFT expertise tailored to stablecoin issuance and digital asset compliance. 
• Encouraging Responsible Innovation: Balancing risk control with sustainable business development, ensuring regulated stablecoins thrive in Hong Kong’s compliant ecosystem.

DAAMC welcomes participation from a wide range of stakeholders, including Institutional Members (banks, VASPs, stablecoin issuers), Associate Members (audit firms, legal firms, professional bodies such as ACAMS and HKIB), and Educational Partners. By joining DAAMC, organizations will shape policy, manage risks, and demonstrate a commitment to financial integrity while promoting the mainstream adoption of regulated stablecoins.

A Call to Action

With Hong Kong’s Stablecoins Ordinance taking effect in August 2025, DAAMC’s launch underscores its commitment to driving digital asset industry compliance and integrity through collaborative leadership. DAAMC invites leading industry companies, compliance institutions, and innovative enterprises to join this transformative initiative. 

BEIJING, Aug. 19, 2025 /PRNewswire/ — Masanda is an ordinary young woman from Myanmar working at Youngor (Ruili) Co., Ltd. She has a gentle and simple personality and is quite shy. During her shifts, she works diligently, and in her leisure time, like her fellow Myanmar coworkers, she listens to music, sings, and dreams of finding a boyfriend she likes, hoping to create a life of her own.

The year 2025 marks the 75th anniversary of the establishment of diplomatic relations between China and Myanmar. The two countries are connected by shared mountains and rivers, and their peoples have maintained a friendship across generations, bound by the profound “pauk-phaw” bond. As Zhang Bo, the workshop director of this company, explained, she understands “pauk-phaw” as “sincerity for sincerity” in human interactions. Masanda and this group of young people from neighboring Myanmar, in the prime of their youth, have experienced firsthand in China what “pauk-phaw” truly means.

We captured the most vibrant details of their daily lives through our lens. Please watch the third episode of the micro-documentary series The Asian Century, titled Myanmar Workers in China.

The Asian Century is a social and cultural documentary series centered on the theme of building an Asian community with a shared future. Through authentic, multidimensional, and comprehensive storytelling, it showcases the shared historical roots, cultural bonds, and developmental aspirations of Asian nations.

https://www.youtube.com/watch?v=QdQkgGr_iyY

SINGAPORE, Aug. 19, 2025 /PRNewswire/ — 123 Food Pte Ltd, Singapore’s only MUIS halal-certified cuttlefish snack manufacturer, is accelerating its regional expansion across Southeast Asia. Building on its recent export success in Brunei and past exports to East Malaysia, the company is now actively seeking distribution partners in Indonesia, Thailand, and Mainland Malaysia to meet growing demand for halal-certified heritage snacks made in Singapore.

With increasing regional interest in quality snacks that combine tradition, authenticity, and food safety, 123 Food is uniquely positioned to scale. Backed by a strong track record in OEM and private label production, the brand is now offering exclusive distribution opportunities and custom production partnerships across Asia.

“We’re excited to connect with partners who value quality, halal certification, and the rich food heritage of Singapore,” said Shannon Lee, Director of 123 Food Pte Ltd. “Our goal is to bring Singapore’s beloved cuttlefish snacks to a new generation of snack lovers across the region.”

From Heritage Recipes to Modern Production: A Legacy Carried Forward

Founded in 2017, 123 Food Pte Ltd took over the recipes and traditional snack preparation methods passed down from the older generation of local snack makers. These time-honoured techniques, such as manually rolling cuttlefish through sugar cane presses and grilling over charcoal, are part of Singapore’s broader snack heritage, inspiring the brand’s commitment to preserving authentic flavours.

In the 1950s to 1970s, cuttlefish sheets were cut into squares and pasted onto tikam tikam boards, a nostalgic nod to childhood street-side games that left many fond memories for generations of Singaporeans. These playful yet humble beginnings laid the foundation for the brand’s enduring identity, reminding today’s consumers of the deep cultural roots behind each snack.

While 123 Food has modernised its operations, the artisanal craft remains at the heart of production. Today, high-efficiency baking and conveyor ovens ensure consistency and scalability, while decades of seasoning know-how from previous generations continue to deliver bold, umami-packed flavours that honour its heritage.

The Only MUIS Halal-Certified Cuttlefish Snack in Singapore

All products are proudly made in Singapore, manufactured under strict adherence to the country’s renowned food safety and hygiene regulations. With ISO22000:2018 certification and MUIS halal certification, 123 Food upholds the highest quality standards trusted by both distributors and consumers. This reputation as a Singapore-made product gives the brand a competitive edge in regional markets, where “Made in Singapore” is synonymous with reliability, cleanliness, and premium quality.

Made without preservatives or MSG, and seasoned with only natural ingredients, 123 Food’s products come in a variety of flavours and textures, crispy or chewy, spicy or sweet, ensuring appeal to a wide market base.

Flexible B2B Solutions, OEM and Private Label Services

123 Food Pte Ltd partners with a growing list of supermarkets, minimarts, distributors, and wholesalers. The company offers OEM and private-label solutions to help partners introduce halal-certified heritage snacks under their own branding. With the recent closure of several local cuttlefish snack producers, 123 Food is uniquely positioned to fill the gap and meet increasing regional demand.

Businesses looking to expand their product portfolio, explore exclusive distribution agreements, or request custom samples are welcome to connect.

Preserving Singapore’s Snack Culture, One Pack at a Time

Every pack from 123 Food is a celebration of Singapore’s rich culinary history. The brand bridges the past with the present and brings beloved seafood jerky into the hands and mouths of new generations. Proudly made in Singapore and grounded in decades of authenticity, the company continues its mission to share local flavours with the world.

For business enquiries, OEM/private label production, or to explore distribution opportunities with 123 Food Pte Ltd, contact:

Email: sales@123food.sg

About 123 Food Pte Ltd

123 Food Pte Ltd is Singapore’s only local halal-certified cuttlefish snack manufacturer, dedicated to honouring local snack heritage and delivering high-quality products made with natural ingredients. Proudly “Made in Singapore,” the company leverages the nation’s strict food safety and hygiene standards to provide products trusted by both domestic and regional markets. 123 Food partners with distributors across Singapore, Brunei, and East Malaysia, while continuing to expand its reach throughout Southeast Asia with OEM and private-label production.

123 Food Official Website

• Focus on empowering Urban Solutions and Sustainability to solve the world’s most essential, urgent challenges
• Pioneered a new AI screening platform to enhance the discovery of disruptive startups
• Record global participation with S$2.5 million+ prize pool 

SINGAPORE, Aug. 19, 2025 /PRNewswire/ — Singapore Management University (SMU) has announced the 60 finalists of the 12th Lee Kuan Yew Global Business Plan Competition (LKYGBPC), marking a milestone year as Singapore celebrates its 60th anniversary. Organised by SMU’s Institute of Innovation and Entrepreneurship (IIE), the biennial competition set new records for global participation, reaffirming its status as one of Asia’s largest university-led startup competitions.

This year’s Grand Finals Week will be held from 29 September to 2 October 2025 at SMU’s city campus, where finalists will compete for a prize pool of over S$2.5 million. Startups will compete across 12 focus areas, including Climate Tech, Energy Transition, Sustainable Materials, Urban Mobility, and Public Health.

The competition continues to attract global attention, receiving over 1,500 applications from more than 1,200 universities across 91 countries – a 57% increase from 2023. Entries from Asia grew by 70%.

“This reflects growing confidence in Singapore as a business and technology gateway to Asia,” said Shirley Wong, Entrepreneur-in-Residence at SMU IIE and Chairperson of the LKYGBPC Advisory Committee. “Hosting the competition alongside SG60 and the Singapore Grand Prix amplifies its energy and global reach, making it a powerful platform for entrepreneurs to connect and co-create.”

Many see Singapore as a regional springboard for growth. Evangelos Moschos, Co-Founder and CTO of Amphitrite, said, “Singapore is the world’s busiest transhipment hub where we can access shipping lines, investors, and a world-class R&D ecosystem. We’re also keen to hire Singaporean talent, including SMU students.”

New to this edition is the DueAI™ Challenge, which uses AI to streamline startup evaluation, reflecting trends in global venture capital. “DueAI™ shows how AI can scale and enhance objectivity in entrepreneurial evaluation,” said Dr Sze Tiam Lin, Senior Licensing Advisor at IIE.

The Grand Finals Week will feature roundtables with influential business families, an inaugural Talent Exchange linking students to global deep tech startups, and Blaze Mixer Night, an open networking event for Singapore’s youth to meet the founders.

The 12th LKYGBPC also welcomes A*STAR as its first Scientific Knowledge Partner and introduces new awards, including the Future of Sustainable Materials Award by Indorama Ventures, tapping its end-to-end R&D and manufacturing expertise to spotlight breakthrough materials innovations, and the Zhang Fan Global AI Initiative Award, empowering startups pushing boundaries in AI. This edition also witnessed growing support from investors including Antler, TRIREC, and Wavemaker Partners.

“Over the years, LKYGBPC has attracted bold founders from around the world, reinforcing Singapore’s role as a rising global hub for entrepreneurship,” said Paul Santos, Managing Partner of Wavemaker Partners. “It aligns with our mission to back companies solving meaningful problems and creating lasting impact.”