This collaboration equips local creative talent with the monetization infrastructure, networks, and market access needed to compete globally.

JAKARTA, Indonesia, June 26, 2026 /PRNewswire/ — Coda, a global leader in digital commerce, has signed a Memorandum of Understanding (MoU) with Indonesia’s Ministry of Creative Economy/Creative Economy Agency (EKRAF) aimed at accelerating the growth of Indonesia’s gaming ecosystem.

Through the partnership, EKRAF and Coda will work together to equip Indonesian game developers with the knowledge, tools, and commercial capabilities needed to scale their businesses, reach global audiences, and compete internationally. The collaboration reflects a shared commitment to strengthening Indonesia’s position as a leading hub for game development and digital creativity.

The MoU builds on the existing collaboration between Coda and EKRAF. With EKRAF’s endorsement, these efforts have ranged from enhancing the capabilities of more than 70 local developers through the Global Game Jam Pre-Workshop in Jakarta, Indonesia to expanding the international reach of Indonesian-made games through Codashop, Coda’s marketplace for in-game and digital content purchases. Beyond supporting developers, Coda and EKRAF will continue to promote digital literacy and safer online gaming experiences through initiatives such as the “Guard Your Game” campaign, which helps players identify and avoid online scams.

The initiative aligns with the Government’s vision of developing a commercially driven, resilient, and internationally competitive gaming industry that can showcase Indonesian talent on the global stage.

Empowering the Next-Generation of Game Creators

Coda CEO Shane Happach said, “Indonesia is home to a vibrant and fast-growing community of game developers. While creative talent is abundant, building a successful games business requires access to the right infrastructure, networks, and commercial opportunities. Through this partnership with EKRAF, we want to help more developers navigate that journey. By expanding access to the tools, expertise, and connections needed to grow, we hope to help more Indonesian studios build sustainable businesses and reach players around the world.”

“Coda was founded in Indonesia, and we remain deeply committed to the country’s digital and creative economy. We are proud to partner with EKRAF to help the next generation of Indonesian developers build globally competitive businesses and succeed in international markets.”

Seizing Opportunities in a Rapidly Expanding Market^[1]

Indonesia’s gaming industry generated more than USD 1.1 billion in revenue in 2025 and is projected to reach USD 1.5 billion by 2030, according to Niko Partners. As the market grows, the way players discover and purchase content is changing. Across Southeast Asia, 38% of mobile game revenue now comes from out-of-app payments, up from 21% just two years ago. Consumer behavior is shifting alongside it, with digital wallets used by 55% of paying mobile gamers and carrier billing used by nearly one in four. These trends highlight the growing importance of localized payment and commerce solutions that help publishers reach more players and unlock new revenue opportunities.

Through its collaboration with EKRAF, Coda aims to help Indonesian developers capitalize on these opportunities by providing the tools, expertise, and infrastructure needed to grow their businesses and reach audiences both at home and abroad.

Irene Umar, Deputy Minister of Creative Economy/Deputy Head of the Creative Economy Agency, said this collaboration is a reflection of the Indonesian Government’s commitment to supporting the growth of the national gaming industry, while reinforcing the shared commitment between the public and private sectors to build a globally competitive gaming ecosystem.

“The collaboration between Coda, Ekraf, and game developers across Indonesia is beyond a memorandum of understanding signed on paper. It is a formal step that demonstrates the seriousness and commitment between the Government and industry players like Coda.”

“For every game developer here, Indonesia is not just a country with a vast player range or a promising target market. Through strengthening this ecosystem, we want to prove that we are capable not only of winning world championships as players, but also of commanding the global market as world-class creators.”

Looking ahead, Coda and EKRAF will explore additional initiatives to support the sustainable growth of Indonesia’s digital creative industry. Together, the two organizations aim to help Indonesian creators access global opportunities while supporting the long-term growth, resilience and competitiveness of Indonesia’s gaming industry.

Founded in Indonesia and headquartered in Singapore, Coda has evolved into a global digital commerce platform operating in more than 80 markets and supporting over 400 payment methods. Through solutions including Coda Webstore, Codapay, Coda Consumer Platforms such as Codashop and Coda Distribution, the company connects publishers and brands with hundreds of millions of consumers worldwide.

Indonesia continues to play a significant role in Coda’s business, contributing approximately 22% of global revenue. Between May 2025 and March 2026, Coda’s flagship consumer platform, Codashop Indonesia, attracted an average of more than 13 million monthly visits and served over 1 million monthly buyers.

About Coda
Coda is a global leader in monetization, distribution, and commerce, trusted by the biggest names in gaming, entertainment, and technology, including Activision, Electronic Arts, Riot Games, Ubisoft, and Moonton.

Founded in 2011 and headquartered in Singapore, Coda operates with 650+ employees worldwide, with core hubs in Asia and Europe. Coda combines payments, Merchant of Record, commerce, distribution, and rewards across B2B and B2C to drive global revenue growth for brands and publishers.

Coda’s products include Codapay, which provides access to 400+ payment methods across 80+ markets through a single API integration; Coda Webstore, which powers fully customized direct-to-consumer storefronts; Coda Consumer Platforms, including Codashop, Recharge.com, and Startselect.com; Coda Distribution, which extends reach through a network of commerce partners; and Giftcloud, a UK-based B2B rewards business serving enterprise customers across Europe.

In August 2025, Coda acquired Recharge, Europe’s leading prepaid platform, significantly expanding its European footprint and direct-to-consumer capabilities across prepaid top-ups and gift cards.

Coda is backed by Apis Partners, Insight Partners, Smash Capital and GIC, and has been named an APAC High Growth Company (2023) by Financial Times, one of Granite Asia’s NextGenTech 30 (2024), a payments leader on Fortune’s Fintech Innovation Asia list (2024), and listed among The Straits Times Fastest Growing Fintechs (2024). For more on Coda, visit coda.co.

This collaboration equips local creative talent with the monetization infrastructure, networks, and market access needed to compete globally.

JAKARTA, Indonesia, June 26, 2026 /PRNewswire/ — Coda, a global leader in digital commerce, has signed a Memorandum of Understanding (MoU) with Indonesia’s Ministry of Creative Economy/Creative Economy Agency (EKRAF) aimed at accelerating the growth of Indonesia’s gaming ecosystem.

Through the partnership, EKRAF and Coda will work together to equip Indonesian game developers with the knowledge, tools, and commercial capabilities needed to scale their businesses, reach global audiences, and compete internationally. The collaboration reflects a shared commitment to strengthening Indonesia’s position as a leading hub for game development and digital creativity.

The MoU builds on the existing collaboration between Coda and EKRAF. With EKRAF’s endorsement, these efforts have ranged from enhancing the capabilities of more than 70 local developers through the Global Game Jam Pre-Workshop in Jakarta, Indonesia to expanding the international reach of Indonesian-made games through Codashop, Coda’s marketplace for in-game and digital content purchases. Beyond supporting developers, Coda and EKRAF will continue to promote digital literacy and safer online gaming experiences through initiatives such as the “Guard Your Game” campaign, which helps players identify and avoid online scams.

The initiative aligns with the Government’s vision of developing a commercially driven, resilient, and internationally competitive gaming industry that can showcase Indonesian talent on the global stage.

Empowering the Next-Generation of Game Creators

Coda CEO Shane Happach said, “Indonesia is home to a vibrant and fast-growing community of game developers. While creative talent is abundant, building a successful games business requires access to the right infrastructure, networks, and commercial opportunities. Through this partnership with EKRAF, we want to help more developers navigate that journey. By expanding access to the tools, expertise, and connections needed to grow, we hope to help more Indonesian studios build sustainable businesses and reach players around the world.”

“Coda was founded in Indonesia, and we remain deeply committed to the country’s digital and creative economy. We are proud to partner with EKRAF to help the next generation of Indonesian developers build globally competitive businesses and succeed in international markets.”

Seizing Opportunities in a Rapidly Expanding Market^[1]

Indonesia’s gaming industry generated more than USD 1.1 billion in revenue in 2025 and is projected to reach USD 1.5 billion by 2030, according to Niko Partners. As the market grows, the way players discover and purchase content is changing. Across Southeast Asia, 38% of mobile game revenue now comes from out-of-app payments, up from 21% just two years ago. Consumer behavior is shifting alongside it, with digital wallets used by 55% of paying mobile gamers and carrier billing used by nearly one in four. These trends highlight the growing importance of localized payment and commerce solutions that help publishers reach more players and unlock new revenue opportunities.

Through its collaboration with EKRAF, Coda aims to help Indonesian developers capitalize on these opportunities by providing the tools, expertise, and infrastructure needed to grow their businesses and reach audiences both at home and abroad.

Irene Umar, Deputy Minister of Creative Economy/Deputy Head of the Creative Economy Agency, said this collaboration is a reflection of the Indonesian Government’s commitment to supporting the growth of the national gaming industry, while reinforcing the shared commitment between the public and private sectors to build a globally competitive gaming ecosystem.

“The collaboration between Coda, Ekraf, and game developers across Indonesia is beyond a memorandum of understanding signed on paper. It is a formal step that demonstrates the seriousness and commitment between the Government and industry players like Coda.”

“For every game developer here, Indonesia is not just a country with a vast player range or a promising target market. Through strengthening this ecosystem, we want to prove that we are capable not only of winning world championships as players, but also of commanding the global market as world-class creators.”

Looking ahead, Coda and EKRAF will explore additional initiatives to support the sustainable growth of Indonesia’s digital creative industry. Together, the two organizations aim to help Indonesian creators access global opportunities while supporting the long-term growth, resilience and competitiveness of Indonesia’s gaming industry.

Founded in Indonesia and headquartered in Singapore, Coda has evolved into a global digital commerce platform operating in more than 80 markets and supporting over 400 payment methods. Through solutions including Coda Webstore, Codapay, Coda Consumer Platforms such as Codashop and Coda Distribution, the company connects publishers and brands with hundreds of millions of consumers worldwide.

Indonesia continues to play a significant role in Coda’s business, contributing approximately 22% of global revenue. Between May 2025 and March 2026, Coda’s flagship consumer platform, Codashop Indonesia, attracted an average of more than 13 million monthly visits and served over 1 million monthly buyers.

About Coda
Coda is a global leader in monetization, distribution, and commerce, trusted by the biggest names in gaming, entertainment, and technology, including Activision, Electronic Arts, Riot Games, Ubisoft, and Moonton.

Founded in 2011 and headquartered in Singapore, Coda operates with 650+ employees worldwide, with core hubs in Asia and Europe. Coda combines payments, Merchant of Record, commerce, distribution, and rewards across B2B and B2C to drive global revenue growth for brands and publishers.

Coda’s products include Codapay, which provides access to 400+ payment methods across 80+ markets through a single API integration; Coda Webstore, which powers fully customized direct-to-consumer storefronts; Coda Consumer Platforms, including Codashop, Recharge.com, and Startselect.com; Coda Distribution, which extends reach through a network of commerce partners; and Giftcloud, a UK-based B2B rewards business serving enterprise customers across Europe.

In August 2025, Coda acquired Recharge, Europe’s leading prepaid platform, significantly expanding its European footprint and direct-to-consumer capabilities across prepaid top-ups and gift cards.

Coda is backed by Apis Partners, Insight Partners, Smash Capital and GIC, and has been named an APAC High Growth Company (2023) by Financial Times, one of Granite Asia’s NextGenTech 30 (2024), a payments leader on Fortune’s Fintech Innovation Asia list (2024), and listed among The Straits Times Fastest Growing Fintechs (2024). For more on Coda, visit coda.co.

DALIAN, China, June 26, 2026 /PRNewswire/ — The 17th Annual Meeting of the New Champions (AMNC, also known as “Summer Davos”) of the World Economic Forum was held from June 23 to 25 at the Dalian International Conference Center. Alex Yang, Co-Founder, COO, and CFO of Tuya Smart (NYSE: TUYA; HKEX: 2391), was invited to participate in multiple sessions, including “China’s Lobster Fever,” “AI and Future Growth,” and “Owning the Interface: Strategy in the Age of AI Agents,” where he shared his perspectives on the evolving global AI landscape and the future of innovation at scale.

Under the theme of “Innovating at Scale,” the forum convened more than 1,700 leaders and innovators from government, business, and academia across over 90 countries and regions to explore how artificial intelligence, industrial digitalization, and emerging innovation models are reshaping economic growth and technology adoption.

A New Phase of Global AI Innovation

Breakthroughs in foundation models and AI agents are accelerating the rise of artificial intelligence as a new frontier of global technological competition. China’s AI industry and technology enterprises have drawn growing international attention through rapid commercialization and extensive application scenarios. Reflecting this momentum, AI and digital transformation were among the most discussed topics at Summer Davos, with sessions exploring topics such as the boundaries of AI-first enterprises and the implications of increasingly autonomous cross-border AI agents.

Behind China’s “Lobster Fever”

The widespread adoption of AI tools was among the forum’s defining themes. During the session “China’s Lobster Fever,” Yang joined Cathy Li, Head of AI, Data and Metaverse at the World Economic Forum, and S. Alex Yang, Professor of Management Science and Operations at London Business School, to discuss the factors driving China’s rapid AI adoption and innovation.

Yang noted that China’s ability to achieve large-scale AI adoption is the result of several reinforcing advantages.

“First, the country has a vast number of developers who are actively exploring and building AI applications. Second, both individuals and businesses have demonstrated a remarkable openness for exploring and testing new technologies. More fundamentally, the strong aspiration across society for development and progress has become a powerful intrinsic driver of AI innovation.”

“At Tuya, we are dedicated to bringing AI into various real-world industry scenarios,” Yang added. “In the smart home sector, we lower the barriers to building AI-native products through standardized AI modules and an active developer community. In the energy sector, our AI solutions span the entire energy lifecycle—from generation and transmission to storage and consumption. By integrating real-time and dynamic electricity pricing data from more than 800 utility companies across Europe, our platform can intelligently optimize energy loads and help users efficiently reduce overall energy costs.”

Commenting on the commercialization of AI, Yang noted that the industry is shifting “from traditional usage-based pricing models toward an outcome-driven value-based pricing model.” He added, “For enterprises, the winners of the AI era will be those that not only adopt AI technologies early but also build AI-native organizations and talent.”

Advancing Global AI Applications Through an Open Developer Ecosystem

During Summer Davos, Yang also gave interviews to major global media outlets including CNBC, Bloomberg, and CGTN, sharing his views on the commercialization of AI applications, developer ecosystem development, and the large-scale deployment of AI hardware.

He emphasized that in an era of rapid technological change and accelerating industrial transformation, open innovation is essential to sustaining long-term competitiveness. Looking ahead, Tuya will continue to deepen its focus on AI Home, AI Energy, and AI Robot applications, working with global developers and ecosystem partners to advance AI from technological breakthroughs to large-scale deployment.

About Tuya Smart

Tuya Inc. (NYSE: TUYA; HKEX: 2391) is a leading global AI cloud platform service provider dedicated to bringing AI into everyday life. Through its TuyaOpen open-source development framework and universal AI Agent engines, including the AI Agent development platform, Tuya integrates multimodal AI capabilities to lower barriers for AI development, efficiently advancing the realization of AI-driven lifestyles and accelerating AI integration with the physical world. Tuya offers innovative physical AI solutions for smart devices, commercial applications, and industry developers through its cloud computing and spatial intelligence capabilities. It also provides a complete, open, and neutral global AIoT ecosystem.

As of Mar 31, 2026, the Tuya AI Developer Platform had over 1,970,000 registered AI developers from more than 200 countries and regions.

DALIAN, China, June 26, 2026 /PRNewswire/ — The 17th Annual Meeting of the New Champions (AMNC, also known as “Summer Davos”) of the World Economic Forum was held from June 23 to 25 at the Dalian International Conference Center. Alex Yang, Co-Founder, COO, and CFO of Tuya Smart (NYSE: TUYA; HKEX: 2391), was invited to participate in multiple sessions, including “China’s Lobster Fever,” “AI and Future Growth,” and “Owning the Interface: Strategy in the Age of AI Agents,” where he shared his perspectives on the evolving global AI landscape and the future of innovation at scale.

Under the theme of “Innovating at Scale,” the forum convened more than 1,700 leaders and innovators from government, business, and academia across over 90 countries and regions to explore how artificial intelligence, industrial digitalization, and emerging innovation models are reshaping economic growth and technology adoption.

A New Phase of Global AI Innovation

Breakthroughs in foundation models and AI agents are accelerating the rise of artificial intelligence as a new frontier of global technological competition. China’s AI industry and technology enterprises have drawn growing international attention through rapid commercialization and extensive application scenarios. Reflecting this momentum, AI and digital transformation were among the most discussed topics at Summer Davos, with sessions exploring topics such as the boundaries of AI-first enterprises and the implications of increasingly autonomous cross-border AI agents.

Behind China’s “Lobster Fever”

The widespread adoption of AI tools was among the forum’s defining themes. During the session “China’s Lobster Fever,” Yang joined Cathy Li, Head of AI, Data and Metaverse at the World Economic Forum, and S. Alex Yang, Professor of Management Science and Operations at London Business School, to discuss the factors driving China’s rapid AI adoption and innovation.

Yang noted that China’s ability to achieve large-scale AI adoption is the result of several reinforcing advantages.

“First, the country has a vast number of developers who are actively exploring and building AI applications. Second, both individuals and businesses have demonstrated a remarkable openness for exploring and testing new technologies. More fundamentally, the strong aspiration across society for development and progress has become a powerful intrinsic driver of AI innovation.”

“At Tuya, we are dedicated to bringing AI into various real-world industry scenarios,” Yang added. “In the smart home sector, we lower the barriers to building AI-native products through standardized AI modules and an active developer community. In the energy sector, our AI solutions span the entire energy lifecycle—from generation and transmission to storage and consumption. By integrating real-time and dynamic electricity pricing data from more than 800 utility companies across Europe, our platform can intelligently optimize energy loads and help users efficiently reduce overall energy costs.”

Commenting on the commercialization of AI, Yang noted that the industry is shifting “from traditional usage-based pricing models toward an outcome-driven value-based pricing model.” He added, “For enterprises, the winners of the AI era will be those that not only adopt AI technologies early but also build AI-native organizations and talent.”

Advancing Global AI Applications Through an Open Developer Ecosystem

During Summer Davos, Yang also gave interviews to major global media outlets including CNBC, Bloomberg, and CGTN, sharing his views on the commercialization of AI applications, developer ecosystem development, and the large-scale deployment of AI hardware.

He emphasized that in an era of rapid technological change and accelerating industrial transformation, open innovation is essential to sustaining long-term competitiveness. Looking ahead, Tuya will continue to deepen its focus on AI Home, AI Energy, and AI Robot applications, working with global developers and ecosystem partners to advance AI from technological breakthroughs to large-scale deployment.

About Tuya Smart

Tuya Inc. (NYSE: TUYA; HKEX: 2391) is a leading global AI cloud platform service provider dedicated to bringing AI into everyday life. Through its TuyaOpen open-source development framework and universal AI Agent engines, including the AI Agent development platform, Tuya integrates multimodal AI capabilities to lower barriers for AI development, efficiently advancing the realization of AI-driven lifestyles and accelerating AI integration with the physical world. Tuya offers innovative physical AI solutions for smart devices, commercial applications, and industry developers through its cloud computing and spatial intelligence capabilities. It also provides a complete, open, and neutral global AIoT ecosystem.

As of Mar 31, 2026, the Tuya AI Developer Platform had over 1,970,000 registered AI developers from more than 200 countries and regions.