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Huawei’s Smart String & Grid Forming ESS Triumphs in Extreme Ignition Test

SHENZHEN, China, March 6, 2025 /PRNewswire/ — Huawei Digital Power’s Smart String & Grid Forming Energy Storage System (ESS) has successfully passed the extreme ignition test, witnessed by customers and DNV, a globally recognized independent organization in assurance and risk management. This groundbreaking test, conducted under real-world scenarios and innovative methodologies, validates the ESS’s capabilities in extreme conditions, marking a significant milestone in advancing safety standards for the energy storage industry.

Huawei's Smart String & Grid Forming ESS Triumphs in Extreme Ignition Test
Huawei’s Smart String & Grid Forming ESS Triumphs in Extreme Ignition Test

Verification in Extreme Conditions: All-Scenario Ignition Test

Aligned with the international standard UL 9540A test method, Huawei Digital Power elevated the rigor of the test by significantly increasing the number of cells subjected to thermal runaway. This approach comprehensively verified the safety protection capabilities of the Smart String & Grid Forming ESS in extreme ignition scenarios, setting a new benchmark for safety testing.

Highlight 1: Real-World Verification with 100% Mass-Produced Products

The test was conducted under conditions that strictly mirrored real-world applications. Four Smart String & Grid Forming ESSs (containers A, B, C, and D) were actual mass-produced products. Charged to 100% state of charge (SOC), they were deployed according to the minimum maintenance and safety clearances required for a plant. The entire test process was spontaneous, with no manual intervention, ensuring a realistic and comprehensive system-level extreme verification environment.

Highlight 2: Triggering 12 Cells into Thermal Runway Causes No Fire or Explosion after Multiple Ignition Attempts

In conventional ESSs, thermal runaway in a single cell often leads to the release of combustible gases into the container, resulting in fire or explosion. However, in Huawei’s Smart String & Grid Forming ESS (container A), thermal runaway occurred in 12 cells without incident. The system’s innovative combined defense mechanism—positive pressure oxygen barrier and directional smoke exhaust duct—effectively vented combustible gases. Manual ignition did not trigger fire or explosion, and the safety issue was automatically resolved. This demonstrates the ESS’s ability to prevent fire and fault spread at the battery pack level.

Highlight 3: Ultimate Fire Resistance Capability Prevents Propagation under Maximum Oxygen Supply Combustion Scenario

To simulate large-scale burning scenarios, the test progressively increased the number of thermal runaway cells until the entire battery pack was affected while providing maximum oxygen supply to create stricter combustion conditions. Despite these challenges, the highest cell temperature in adjacent containers B, C, and D reached only 47°C—far below the thermal runaway threshold. Post-test disassembly confirmed the integrity of the ESS body, fire-resistant layer, and internal battery packs, proving the system’s resilience in extreme scenarios.

Highlight 4: Slow Fault Progression Provides Critical Time for Early Intervention to Avoid Serious Accidents

A conventional ESS risks immediate fire or explosion upon thermal runaway in a single cell, often leading to severe accidents. In contrast, Huawei’s ESS (container A) delayed fire ignition for 7 hours in extreme scenarios, even as the number of thermal runaway cells increased. This slow fault progression allows emergency personnel ample time for early intervention, mitigating risks and ensuring the safety of personnel and property.

Huawei's Smart String & Grid Forming ESS Triumphs in Extreme Ignition Test
Huawei’s Smart String & Grid Forming ESS Triumphs in Extreme Ignition Test

Technical Breakthrough: Redefining ESS Safety Logic

ESS safety is critical to the sustainable and high-quality development of the renewable energy industry. The success of this test underscores Huawei Digital Power’s major breakthrough in system safety, delivering comprehensive protection from the battery cell level to across the entire system. Through architectural innovation, the company has enhanced the safety protection mechanism of the ESS from the container level (industry standard) to the pack level, effectively preventing thermal runaway spread.

 

Women in Asia are on a quest for new destinations and shared adventures, Agoda survey reveals

SINGAPORE, March 6, 2025 /PRNewswire/ — To mark International Women’s Day which is celebrated on Saturday 8 March, digital travel platform Agoda unveils the top women’s travel trends in Asia this year. While both women and men in Asia plan to travel more in 2025, Agoda’s findings show how women are shaping the travel landscape.

The survey spotlights how women in Asia are leading the way in exploring new destinations with family and friends, emphasizing a strong desire for adventure and camaraderie during their travels.

Top Women's Travel Trends in Asia - Agoda
Top Women’s Travel Trends in Asia – Agoda

Destination Unknown: Women Seek the Undiscovered

The desire to discover new destinations emerges as a key driver, with 60% of women expressing interest compared to 53% of men. Indian and Indonesian women are particularly eager to discover new places, with 80% and 69% respectively showing a strong desire to explore. This enthusiasm for new experiences reflects a broader trend of curiosity and openness to diverse cultures and landscapes. Women are embracing the thrill of the unknown, chasing novel experiences that promise adventure and discovery at every turn.

Family First: Embracing Shared Adventures

Asian women are more inclined to travel with their loved ones, with 40% of women preferring to travel with family compared to 28% of men. Indonesian women are particularly enthusiastic about family trips, with 68% expressing this preference, underscoring the importance of shared experiences and creating lasting memories with loved ones.

Additionally, women are more likely to travel with a group of friends than men, with Japanese and Indian women leading the way at 29% and 25%, respectively. This trend highlights the value women place on camaraderie and the joy of embarking on exciting new journeys with close companions.

Solo Adventures: The Allure of Independent Exploration

When it comes to solo travel, men show a higher preference at 24% compared to 15% of women. However, among Asian women, Hong Kong SAR and Thai women are the most likely to embark on solo adventures, at 25% and 22%, respectively, reflecting an appetite for personal growth and self-discovery through travel.

The Perfect Getaway: 5-10 Days of Adventure

The survey finds that most Asian travelers, regardless of gender, prefer a 5–10-day trip, with women showing a slightly higher preference at 48% compared to 40% of men. This trend is particularly pronounced among women from India and Hong Kong SAR, where two-thirds of Indian women and 68% of Hong Kong SAR women favor this duration, allowing ample time to immerse themselves in new cultures.

Mai-Linh, Chief Financial Officer at Agoda shared, “At Agoda, we’re thrilled to see how women are shaping the travel landscape in Asia. Their adventurous spirit and desire to explore new destinations with family and friends paints an inspiring picture of the travel landscape in 2025. Whether it’s a family getaway or a solo adventure, Agoda is committed to offer great value deals on accommodation, flights, and activities, ensuring that every journey is filled with memories to last a lifetime.”

As Asian women continue to embrace travel in 2025, Agoda offers a wide range of options to suit their diverse preferences. With over 5 million holiday properties, more than 130,000 flight routes, and over 300,000 activities, Agoda provides endless possibilities for creating unforgettable travel experiences. Discover the best deals on Agoda’s mobile app or on agoda.com/deals and start planning your next adventure today.

 

Singapore Residents’ Year End and Lunar New Year Travel Spending Hit New Highs: Visa


SINGAPORE – Media OutReach Newswire – 6 March 2025 – Leading payments technology company, Visa, shared that Singapore residents continue to prioritise travel, with outbound spending surging in December last year, as well as the recent Lunar New Year holiday week. In fact, travel spend by Singapore consumers for December and January hit record levels. Supported by a strong Singapore dollar, cross-border spending remains robust across key travel corridors, with notable shifts in consumer travel and spending patterns.

Shopping and Dining Remain Top Spend Categories during December Year-End Travel

Visa’s data highlights that shopping and dining remain top priorities for Singapore travellers, accounting for 61 per cent of their travel spend, while lodging and airline bookings saw strong year-on-year growth as consumers plan ahead for travel. Retail spend recorded a 14 per cent year-on-year increase, while spending on restaurants and fast food surged by 27 and 30 per cent, respectively. These figures underscore the enduring appeal of overseas shopping and dining experiences for Singapore travellers.[1]

Malaysia, Japan, and Thailand have emerged as the leading travel corridors for cross-border outbound spending, closely followed by South Korea and Australia during the year-end holidays last year. The implementation of visa-free travel to China has significantly boosted travel demand, resulting in an 86 per cent year-on-year increase in travel spend in China. This reflects a broader trend of increased regional travel, facilitated by relaxed entry requirements and strong economic ties.

Malaysia has always been the top travel destination for Singapore residents all-year round. Based on Visa’s International Travel platform, the top cities that Singaporeans visited include Kuala Lumpur, Johor Bahru, Cameron Highlands, Bangkok, Bali and Kota Tinggi (Johor). Last year, Singapore travellers’ card spending in Japan also grew 138 per cent compared to pre-pandemic levels.[2]

Visa’s data also highlighted the evolving destination preferences for Singapore residents. Compared to December 2023, Japan and Thailand have secured their place as key travel destinations, while long-haul markets such as the UK, US, and France continue to attract high-spending travellers. South Korea and Thailand are also emerging as healthcare-driven travel destinations, with increasing numbers of Singapore residents seeking medical services abroad. In fact, South Korea saw a 58 per cent rise in healthcare-related travel spending.

Japan and Thailand experienced the highest travel spend growth, recording 42 and 29 per cent year-on-year increase respectively. Meanwhile, Malaysia saw the strongest growth in food and groceries spending at 75 per cent year-on-year, reinforcing its position as a key travel and consumption hub.

“Travel continues to be a key category of spend for Visa cardholders in Singapore. Based on a Visa study[3], travel is a top priority for Singapore travellers, surpassing other big-ticket spending items such as vehicles, property, healthcare and luxury goods in terms of importance. This finding is aligned with what we’re seeing from our data, where there is strong cross-border spend growth during year-end and festive periods. We continue to see interest in consumers using cards that can earn airline miles for their spend, and other propositions such as zero FX and multi-currency offerings. With the vast data that we see, we can work with our partners to share these key insights and create relevant benefits for our cardholders, making the payment experience seamless and secure when they travel and pay with Visa”, said Adeline Kim, Visa Country Manager for Singapore & Brunei.

As travel planning becomes more strategic, Singapore travellers are making early bookings to manage costs and secure better deals. Spending on alternative airline carriers, including European and Middle Eastern airlines, rose by 15 per cent year-on-year, indicating a growing preference for diverse flight options. In addition, online lodging bookings increased by 16 per cent year-on-year in December last year.

Top travel destinations during Lunar New Year holiday similar to year-end of 2024

The top travel destinations during this year’s Lunar New Year holiday are similar to the year-end break, with the exception of Indonesia taking the fourth spot, replacing South Korea. During the Lunar New Year holiday week, Singapore travellers took the opportunity to spend the week travelling, with a strong spike in cross-border spend at 22 per cent growth compared to the week of Lunar New Year in 2024. eCommerce spend also grew by close to 30 per cent compared to the previous year during the festive period, showing that people were spending more to purchase online, given this year’s Lunar New Year coincides with February 2.

Malaysia continues to be the top travel corridor, with payments volume growing at 57 per cent compared to the previous Lunar New Year week. The top growing category in Malaysia was jewellery stores, showing over 220 per cent growth compared to the previous year. Japan comes in second as a preferred destination for Singaporeans. During this ski season, Visa saw a 36 per cent growth on cross-border spend compared to the same festive period the year before. Thailand’s healthcare spend also grew at over 59 per cent.[4]



[1]
VisaNet data as of December 2024 and December 2023
[2] Visa International Travel Platform- data as of Q2 – 2024
[3] Visa Green Shoots Radar Survey 2024 (June)
[4] VisaNet data as of CNY week in 2025 (27 January – 2 February) compared to CNY week in 2024 (10-16 February).

Hashtag: #Visa

The issuer is solely responsible for the content of this announcement.

About Visa

Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at www.visa.com.sg

Octa broker receives the ‘Best CFD Broker Asia 2025’ award


KUALA LUMPUR, MALAYSIA – Media OutReach Newswire – 6 March 2025 – Octa, a global broker since 2011, was recently recognised as the ‘Best CFD Broker Asia 2025’ by the Global Brands Magazine.

Octa

The Global Brands’ ‘Best CFD Broker Asia 2025’ award became another milestone in Octa’s long and successful track record in the financial markets. According to the organisers, Octa was selected from a highly competitive group of entrants by an external research team, which was appointed to evaluate the nominees.

Global Brands Magazine is a leading branding publication providing up-to-date news, reviews, opinions, and polls on leading brands and industries worldwide.

Focusing on contract-for-difference (CFD) instruments, Octa fosters a dynamic trading environment that has gained considerable popularity among ambitious and goal-driven traders worldwide. Octa broker aims to establish transparent and efficient trading practices according to the best industry benchmarks.

Octa’s portfolio encompasses a wide variety of CFDs, including currency pairs, gold, and crypto. In addition to a diverse portfolio, the broker boasts a modern proprietary platform and some of the best trading conditions on the market.

Since its foundation, Octa has won more than 90 awards, including the ‘Most Reliable Broker Global 2024’ award from Global Forex Awards and the ‘Best Mobile Trading Platform 2024’ award from Global Brand Magazine.

According to Octa’s press office, the broker’s proprietary trading platform, OctaTrader, covers the entire traders’ journey across four fundamental areas: payments, education, trading, and decision-making. With its all-in-one architecture, OctaTrader functions as a holistic trading ecosystem designed for clients of various experience levels, trading styles, and asset preferences.

OctaTrader’s key features include:

  • Leverage adjustment

With OctaTrader, you can open new orders with any leverage you choose without affecting the leverage of existing orders. This unique feature allows for greater flexibility and offers additional scope to those using various instruments and timeframes during a single session.

  • AI-powered pattern recognition

Released in December 2024, this tool automatically searches for technical analysis patterns, using a large dataset of expert-curated content and AI-powered models that pick relevant figures from historical data. The AI Pattern Recognition tool is especially useful for those trading on faster timeframes since it empowers fast-paced, efficient decision-making and reduces cognitive load.

  • Space

An expert-curated feed within the platform that allows you to connect and collaborate with like-minded traders while staying up-to-date with the most relevant market trends and developments. By adjusting the feed according to your trading style and preferences, Space provides personalised guidance to keep you in touch with highly volatile markets.

  • Saving/loading charts

This feature allows you to save your chart layouts, chart templates, and drawing templates, and restore them when you get back. On top of that, all your chart actions are automatically synchronised between all your devices so that you can pick up your trading or analysis on your mobile exactly where you left it on your computer and visa-versa.

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Disclaimer: Trading involves risks and may not be suitable for all investors. Use your expertise wisely and evaluate all associated risks before making an investment decision.
Hashtag: #Octa

The issuer is solely responsible for the content of this announcement.

Octa

is an international CFD broker that has been providing online trading services worldwide since 2011. It offers commission-free access to financial markets and various services used by clients from 180 countries who have opened more than 52 million trading accounts. To help its clients reach their investment goals, Octa offers free educational webinars, articles, and analytical tools.

The company is involved in a comprehensive network of charitable and humanitarian initiatives, including the improvement of educational infrastructure and short-notice relief projects supporting local communities.

In Southeast Asia, Octa received the ‘Best Trading Platform Malaysia 2024’ and the ‘Most Reliable Broker Asia 2023’ awards from Brands and Business Magazine and International Global Forex Awards, respectively.

Toshiba’s Innovative Rechargeable Battery Set to Elevate Safety and Reliability of Electric Motorcycle Taxis, Addressing Fire Risks

Propel Thailand Closer to Carbon Neutrality Goals

BANGKOK, March 6, 2025 /PRNewswire/ — Toshiba Corporation showcased its rechargeable lithium-ion battery “SCiB™” at a media briefing in Bangkok on March 5, 2025, highlighting its exceptional characteristics of long lifespan and intrinsic safety, which elevate the safety and reliability of electric motorcycle taxis for both drivers and passengers. SCiB™’s unique features have the potential to play a significant role in the transition towards sustainable urban transportation in Thailand. By utilizing SCiB™, Toshiba aims to support Thailand’s carbon neutrality objectives and facilitates the wide adoption of e-motorcycles that meet stringent standards, enhancing sustainability and reliability in the transportation sector.

Toshiba Rechargeable Lithium-Ion Battery SCiB™
Toshiba Rechargeable Lithium-Ion Battery SCiB™

Thailand aims to achieve Carbon Neutrality by 2050 and Net-Zero Greenhouse Gas Emissions by 2065*1. The demand for lithium-ion batteries in emerging countries for electric vehicles (EV) is expected to exceed 600GWh by 2035. However, only 2.8% of that is projected to come from batteries for motorcycles and three-wheeled vehicles, both widely used in public transport*2.

Manufacturers of e-motorcycles face significant challenges in commercializing their products, primarily due to safety concerns surrounding conventional lithium-ion batteries. These issues include fire risks under various stressors and performance degradation over time, worsened by the tropical heat and humidity prevalent in Southeast Asian countries. The increasing risk of accidents as batteries age further complicates the integration of these vehicles into the transportation sector. Addressing these safety and longevity issues is crucial for successfully implementing e-motorcycle initiatives in the region and the industry’s overall progress. Manufacturers must find innovative solutions to enhance safety and reliability, overcoming the hurdles posed by environmental factors and battery limitations to achieve wide adoption and ensure the viability of e-motorcycles in Southeast Asia’s challenging climate.

The Toshiba’s battery SCiB™ is showing potential to address these concerns and revolutionize the electric motorcycle industry in Southeast Asia. Its innovative lithium titanium oxide (LTO) anode chemistry offers superior safety, longevity, and performance in challenging environments, in contrast to the conventional carbon-based materials used in typical lithium-ion batteries. It demonstrates remarkable resilience, resisting internal short circuits and maintaining integrity during rigorous safety tests. SCiB™ maintains its performance through over 20,000 charge-discharge cycles with minimal degradation. Furthermore, its rapid-charging capability allows for recharging from zero to over 80% capacity in just six minutes, ensuring minimal downtime for e-motorcycles. These features directly address the safety, longevity, and performance issues hindering electric motorcycle adoption in the region, paving the way for more reliable and sustainable urban transportation solutions.

In September 2024, Toshiba partnered with naturenix inc., a Japan battery technology startup from Shimane University, and Windee International, a joint venture with Thailand’s parking management servicer, to launch a demonstration test of battery subscription service for e-motorcycle taxis in Bangkok, announced in October 2024*3. Such a battery subscription service is expected to allow users to access to the advanced and well-maintained battery technology in a cost-effective way. The ongoing trial is yielding promising results, highlighting SCiB™’s capacity to deliver efficient and practical solutions.

Together with partners, Toshiba offers a safe and cost-effective solution for electric motorcycle taxis in Bangkok, addressing fire risks. This innovative battery subscription service not only accelerates EV adoption in Thailand’s two- and three-wheeler segments but also has the potential to transform various vehicle markets, including buses and automated guided vehicles, significantly contributing to the country’s efforts in achieving carbon neutrality.

About Toshiba

As Toshiba Group celebrates its 150th anniversary in 2025, it is enhancing its management structure, streamlining operations, and investing in forward-looking businesses to build foundations for new growth.

This will allow it to continue to support advances toward a sustainable future with products and services developed by its wide range of businesses in the energy, infrastructure, and electronic devices domains.

Guided by its corporate philosophy, “Committed to People, Committed to the Future.,” Toshiba brings industry-leading capabilities in green transformation (GX) and digital transformation (DX) to solutions for companies addressing the many challenges faced by modern society. By leveraging the power of data derived from its constantly evolving products and solutions, the Group is determined to help to achieve carbon neutrality and a circular economy.

In fiscal year 2023, Toshiba Group generated annual sales of 3.3 trillion yen, and had 105,000 employees around the world.

For more information, visit https://www.global.toshiba/ww/top.html or follow Toshiba Corporation on LinkedIn.

*1: THAILAND’S FIRST BIENNIAL TRANSPARENCY REPORT, Chapter 3.1

*2: Research by naturenix inc.

*3: Toshiba and Naturenix Launch Demonstration Test of Battery Subscription Service for Electric Motorcycle Taxis in Bangkok

Docquity’s AI Platform Enhances Medical Knowledge and Patient Care at RSUD Umar Wirahadikusumah Sumedang

  • Dx, Docquity’s AI platform which is in ongoing development, will enable physicians at the Sumedang hospital to securely access the latest medical research for stronger treatment decisions
  • The collaboration follows Sumedang Regency’s introduction of Docquity’s AI platform for greater public health support last year

JAKARTA, Indonesia, March 6, 2025 /PRNewswire/ — Docquity, a leading healthtech company in Southeast Asia, and Rumah Sakit Umum Daerah (RSUD) Umar Wirahadikusumah Sumedang, a regional hospital in West Java, Indonesia, announced a partnership to integrate Dx, Docquity’s AI-powered medical resource platform, into the hospital’s medical reference system. Dx, currently in ongoing development, was last year implemented as a learning tool for Sumedang’s public health staff. This marks Docquity’s second partnership aimed at strengthening healthcare knowledge and patient care in the West Java region.

Built upon Docquity’s network insights as the largest healthcare professional (HCP) community in Southeast Asia that connects 3 out of every 4 doctors, Dx securely leverages compliant Generative AI to empower RSUD Umar Wirahadikusumah Sumedang’s medical professionals with the latest healthcare knowledge from credible sources, for stronger treatment decisions. The Dx platform features an integration with PubMed, a globally recognized database of peer-reviewed medical research, enabling HCPs in Sumedang to seamlessly access scientifically-backed solutions to medical cases and ensure that regional patient care aligns with the latest international medical standards.

According to Dr. H. Enceng, SpB. Director of RSUD Umar Wirahadikusumah Sumedang: “The introduction of Docquity’s AI platform, Dx, into our medical reference system is expected to enhance the hospital’s ability to provide high-quality, evidence-based healthcare. Medical science is constantly evolving, and keeping our doctors well-informed with the latest research is crucial. With Dx, our physicians can access trusted medical journals instantly, improving diagnostic accuracy and treatment outcomes for the local community of Sumedang.”

Amit Vithal, Co-Founder and Chief of Growth at Docquity, said: “We believe that data is knowledge, and greater learning opportunities and medical expertise create healthier communities. We’ve therefore been developing Dx to provide Southeast Asian doctors with real-time access to credible medical research and global best practices at their fingertips. With the support of Dx, physicians at RSUD Umar Wirahadikusumah Sumedang can make more confident, data-driven treatment decisions that enhance patient care and streamline hospital operations.”

The implementation of AI in healthcare is aligned with Sumedang’s digital transformation agenda for public services, including healthcare. Dr. H. Dony Ahmad Munir, S.T., M.M Mayor of Sumedang, emphasized: “This program ensures that our hospitals and medical professionals remain at the forefront of advanced healthcare practices. By leveraging AI and credible medical resources, we are not just improving hospital efficiency but also contributing to the overall health of the Sumedang people. The integration of Dx into RSUD Umar Wirahadikusumah Sumedang’s medical reference system is expected to set a new benchmark for regional hospitals in Indonesia, enabling doctors to provide better, faster, and more accurate medical care.”

About Docquity, http://docquity.com/

Docquity is Southeast Asia’s largest community of verified healthcare professionals (HCPs). Our platform and services leverage data science to strengthen healthcare knowledge and interactions. 

The Docquity vision is to connect HCPs to build healthier lives around the world at scale. Our platform helps HCPs learn, connect, and grow, while our deep network insights enable healthcare enterprises to understand, engage, and educate HCPs. 

We are trusted by more than 410,000 HCPs across Southeast Asia, with offices in India, Indonesia, Malaysia, the Philippines, Singapore, Taiwan region, Thailand, and Vietnam. 

Docquity is available for download on Apple and Android devices.

About Sumedang

Sumedang is a regency in West Java, Indonesia, known for its rich cultural heritage and scenic landscapes. The regency has been making significant strides in improving public health and education, aiming to enhance the quality of life for its residents. The partnership with Docquity marks a significant step forward in leveraging advanced technology to address critical health issues and improve healthcare services. Sumedang is committed to adopting innovative solutions and collaborating with leading organizations to achieve its goals of better health outcomes and sustainable development for its community.

For further information, please contact:

Reisha Nagrani 
Head of Communications, Docquity
reisha@docquity.com 

Therese Panganiban
Virtusio PR
+63 917 8210312
therese@virtusio.com

Tonik Surpasses 1 million Loans, Redefining Consumer Lending in the Philippines

MANILA, Philippines, March 6, 2025 /PRNewswire/ — Tonik has crossed 1 million cumulative loans disbursed since inception, cementing its status as the Philippines’ leading credit-led digital bank and propelling a new era of credit inclusion.

Tonik surpasses 1 million disbursed loans and counting!
Tonik surpasses 1 million disbursed loans and counting!

While traditional banks continue to emphasize corporate credit, Tonik zeroes in on a $40 billion latent unsecure consumer credit market—tackling one of Southeast Asia’s most overlooked lending opportunities with a credit-first strategy powered by AI-driven underwriting and alternative data.

In just two years, Tonik has expanded its loan portfolio by 7x, while at the same time slashing unit operational service costs by 5x. This dynamic growth and cost focus helped the bank hit contribution margin breakeven in Q4 2024, paving the way for cash flow breakeven within the next 9-12 months.

Tonik also leads in average revenue per user (ARPU) and average margin per user (AMPU) across digital banking—showcasing a more robust monetization model than its payments-led peers.

“Reaching one million loans marks a major stride in our mission to deliver fast, accessible mass-market consumer credit across the Philippines,” said Greg Krasnov, Founder & CEO of Tonik. “We’re scaling rapidly while turning an operational profit—a rare combo in fintech—and we see much more upside ahead.”

Consumer lending in the Philippines comprises just 5% of GDP, far below the 21% regional average. Armed with a digital-only bank license, Tonik secures low-cost deposit funding, strongly outperforming fintech lenders forced to rely on more expensive wholesale capital.

With a diverse product lineup—payroll loans, shop instalment financing, AI-powered digital cash loans, and upsell loans—Tonik is poised for accelerating its impact in 2025 due to aggressive deployment of AI across the organization.

By marrying data-powered innovation with genuine consumer need, Tonik is ushering in a new era of technology-driven lending—one that combines high-volume growth with sustainable profitability, all in service of bringing much-needed credit to millions of Filipinos.

About Tonik

Tonik is the first digital-only neobank in the Philippines, providing loan, deposit, and payment products to consumers on a highly secure digital banking platform. The neobank operates based on the first digital bank license issued by the Bangko Sentral ng Pilipinas (BSP).

Tonik is led by a team of retail finance veterans who have previously built and scaled multiple retail banks and fintechs across global emerging markets. It is backed by top international investors, including Sequoia India, Point72 Ventures, and Mizuho Bank. Tonik’s tech stack is integrated in partnership with world-class banktech vendors including Mastercard, Finastra, Amazon Web Services, Google, Genesys, and Daon. Tonik operates out of hubs in Singapore (HQ), Manila, and Chennai.

For media contact:
Nix Policarpio
pr@tonikbank.com

TRACR and Sarine Technologies Sign Agreement for Pioneering Diamond Traceability Solution

The collaboration enables a scalable and cost-effective diamond traceability solution in support of transparency and trust across the supply chain

HONG KONG SAR – Media OutReach Newswire – 6 March 2025 – Tracr™ Limited (“Tracr”), the world’s first fully distributed diamond blockchain platform enabling the registration of rough diamonds at source, and Sarine Technologies Limited (“Sarine”), a global leader in precision technologies across the diamond pipeline, have announced the signing of a collaboration agreement that enables each party to offer scalable, cost-effective and enhanced verification services for tracing diamonds from their source.

Tracr and Sarine Technologies Sign Agreement for Pioneering Diamond Traceability Solution

The collaboration will enable algorithmic matching of diamonds at scale, starting from the source. Both parties will use their respective capabilities to increase process efficiency and reduce the need for duplicate processes by existing participants. Utilising Tracr’s blockchain technology, Sarine’s diamond scanning solutions, and both companies’ sophisticated diamond identification and matching algorithms, the collaboration will create an interface between Tracr’s platform and Sarine’s cloud, which will facilitate, if enabled by participants, the seamless matching of diamond data across different stages of a registered diamond’s journey.

A key benefit of the arrangement will be the ability to offer objective verification of a diamond’s journey from a producer’s rough supply to a manufacturer’s polished production using verifiable diamond scanning information. Introducing a new objective verification capabilitythrough a robust algorithmic matchingprocess will help Tracr and Sarine participants benefit from enhanced provenance assurance, in turn enabling them to offer customers, diamond brands and consumers enhanced confidence in the provenance of a diamond.

By enabling the option of registering their diamonds’ data, including diamond scans, to the Tracr platform using Sarine software, participating diamond businesses will be able to have their diamonds benefit from objective verification as the data is algorithmically checked against the corresponding existing diamond data. This includes diamonds from De Beers Group supply uploaded to Tracr, which currently number more than three million. With De Beers now registering single country of origin for all rough diamonds larger than one carat, the solution also has the potential to function as a customs service to facilitate the traceability of a diamond’s origins as it crosses international borders, in line with the requirements of the G7 Diamond Protocol.

With the new traceability solution being based on Tracr’s and Sarine’s existing infrastructure, which is widely used in the industry, the solution is expected to have minimal impact on participants’ supply chains, supporting its ability to be scaled quickly and effectively. Furthermore, Tracr’s and Sarine’s matching processes will be conducted using data from a variety of existing diamond scanning technologies and enabling businesses to benefit from enhanced provenance assurance. This will help to reduce operational complexity and make the matching process more efficient and scalable.

Wesley Tucker, CEO of Tracr, said: “We believe this collaboration will deliver a step change in traceability and provenance assurance in the diamond industry. By enabling the connection between our blockchain technology and Sarine’s advanced precision technology, we are creating a new, cost-effective and highly scalable solution that can be implemented at pace. It has been great to work with Sarine on developing a solution that is both innovative and practical, and we see huge potential for it – both for meeting rapidly evolving consumer expectations and in support of the fast-changing regulatory landscape.”

David Block, CEO of Sarine Technologies, said: “We believe that this cooperation will greatly enhance the much-needed ability to trace diamonds to their source, providing the industry with greater transparency and the consumers with heightened confidence. It has been a pleasure working with the Tracr team on this initiative, and we look forward to supporting our customers in implementing these capabilities to enhance their operations.”
Hashtag: #Tracr #DeBeersGroup #NaturalDiamonds





The issuer is solely responsible for the content of this announcement.

About De Beers Group

Established in 1888, De Beers Group is the world’s leading diamond company with expertise in the exploration, mining, marketing and retailing of diamonds. Together with its joint venture partners, De Beers Group employs more than 20,000 people across the diamond pipeline and is the world’s largest diamond producer by value, with diamond mining operations in Botswana, Canada, Namibia and South Africa. Innovation sits at the heart of De Beers Group’s strategy as it develops a portfolio of offers that span the diamond value chain, including its jewellery houses, De Beers Jewellers and Forevermark, and other pioneeringsolutionssuch as diamond sourcingandtraceabilityinitiatives TracrandGemFair.De BeersGroup also provides leadingservicesandtechnology to the diamond industryin the formof education andlaboratory services and a wide range of diamond sorting, detection and classification technology services. De Beers Group is committed to ‘ a holistic and integrated approach for creating a better future – where safety, human rights and ethical integrity continue to be paramount; where communities thrive and the environment is protected; and where there are equal opportunities for all. De Beers Group is a member of the Anglo American plc group. For further information, visit .