Articles and opinions by Foo Boon Ping

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The $610 million DeFi heist that wasn’t

Despite losing over $610 million worth of cryptocurrencies to a cyber hack, touted as the largest of its kind, Poly Network was able to recover all assets shortly after. What does the increasing number of cyber thefts, and this particular…

     
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Hong Leong’s Fuda: “Digital has forever transformed the business model”

In this Leadership Perspective series, Domenic Fuda, group managing director and CEO at Hong Leong Bank (HLB), discussed the bank’s digital transformation amid the pandemic, and how it has allowed it to innovate products and improve financial…

     
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OneConnect’s Tan: “Banks continue to struggle to implement DLT”

In this conversation, OneConnect Chief Executive Officer (Southeast Asia) Tan Bin Ru talked about the limited use of distributed ledger technology, especially for banks, and the ongoing digital transformation in Southeast Asia’s financial…

     
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Concentration of cloud providers raises financial stability risks

The use of cloud technology is gaining traction among financial institutions due to the efficiency, scale and saving that it affords. Regulators however caution that cloud concentration risks could jeopardise financial stability.

     
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Central banks work to link multiple CBDCs across borders

Several central banks are in different stages of implementing fiat digital currencies. Beyond domestic and retail applications, national central bank digital currencies (CBDC) can also be linked to facilitate cross-border and wholesale…

     
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What will ASEAN payment integration achieve?

ASEAN member countries have taken steps to advance cross-border interoperability of standardised quick response (QR) code for payments and introduce innovative real-time remittances, in order to achieve cross-border real-time retail payments…

     
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WFE 2020 Market Highlights: “Global exchanges hit new highs amid disruptive…

WFE has just published its latest market highlights report that studied the impact of the events of 2020 on markets across capitalisation, listed companies, IPOs, volumes and value traded in multiple assets classes including equities, derivatives…

     
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DBS 2020 net profit falls 26% as fourth quarter performance reveals weakness

DBS full-year 2020 net profit fell 26% to SGD 4.72 billion ($3.5 billion) despite record operating profit of SGD 8.43 billion ($6.3 billion) as total allowances quadrupled and net interest margin hit new low