Behind the intriguing rise of MAS-founded APIX

Check out our top articles for the week. [Read from your browser]( Top Stories of the Week Welcome to Tech in Asia's free Sunday newsletter! Get full access to our subscribers-only premium content and other insightful analysis on the big and messy topics of Asia’s tech and startup community by [registering here](. Hello {NAME} "One country's regulator is aiding another country's regulator?" That was the question I mulled over when India's insurance regulator held a hackathon last year in August to solve key problems in the insurance industry. The Insurance Regulatory and Development Authority of India (IRDAI) made an open call to fintech firms to have them come up with solutions to help it automated the settlement of death claims, identify uninsured vehicles to aid law enforcement, sell microinsurance in remote places, and prevent fraud, among others. The thing was, this hackathon was not being hosted on IRDAI's site but on the site of a third-party Singapore-based platform called APIX. And APIX turned out to be the brainchild of the Monetary Authority of Singapore, the ASEAN Bankers Association, and the International Finance Corporation. Backed by the LeemaTree Group (founded by Temasek) and Mastercard, APIX helps regulators, banks, and insurers network with fintech firms for their technology needs. And that's when I came upon an even more [intriguing story](. The Singapore entity also helped India's UPI, the country’s real-time payment network. -- [Rachel Chitra]( journalist at Tech in Asia  --------------------------------------------------------------- TOP STORIES THIS WEEK 1️. [How MAS-founded APIX is solving problems for regulators from India to Indonesia]( MAS initiative APIX has become the world’s first marketplace for regulators looking for financial solutions. 2. [Shopee spending puts Sea in rough waters]( With growing sales and marketing expenses and dwindling earnings, Shopee’s effort to fight off TikTok Shop could be costing parent firm Sea big time. 3. [Vietnam’s first tech unicorn VNG set for IPO. Here’s what you need to know]( VNG is preparing to list amid a market downturn and slower growth. Will this be enough to entice foreign investors? 4. [Line- and Kakao-backed Web3 gaming firm makes $8m while staying profitable]( The Singapore-based company, which presents itself as a hub for Web3 gaming, also generated US$8 million in revenue last year. 5. [How BCA’s digital drive helped it become SEA’s most valuable brand]( The Indonesian bank is the only brand from the region to break into the world's top 100 most valuable brands. 6. [Malaysia’s coffee scene heats up as foreign players take on local firms]( The specter of Chinese brands looms large as coffee chains duke it out in offering cheap caffeinated beverages. 7. [Grab logs standout quarter as deliveries growth rebounds, touts revenue potential of ads]( The Southeast Asian super app now expects to achieve EBITDA breakeven by the third quarter. 8. [This Philippines-based VC eyes $25m SEA fund to target startups with ‘can do’ spirit]( Kaya Founders aims to raise US$25 million to invest in Southeast Asian startups, specifically Filipino firms. 9. [Grab’s latest lineup of top executives (update)]( Co-founder Tan Hooi Ling, who oversees Grab group CTO Suthen Thomas and chief product officer Philipp Kandal, is set to leave at the end of this year. 10. [SEA’s major tech stocks compared: Returns crash across the board]( A strong performance by these stocks won't just benefit investors' pockets. It's crucial to the health of Southeast Asia's tech industry. --------------------------------------------------------------- TECH IN ASIA CONFERENCE Are you an early-stage startup founder looking to tell the world about your product and connect with thousands of tech industry professionals? If your company has a working product showcasing an innovative tech solution, has raised less than US$3 million in external funds, and if you have business-level English proficiency, apply for our signature trade show, Startup Factory. Grab this chance to increase your brand awareness and meet potential customers, investors, employees, and business partners. Quick! Day 1 booths are now sold out. Apply to exhibit before September 22 [here](. --------------------------------------------------------------- WHO'S HIRING  You can post a job [here]( or search for jobs [here](. [logo] [Junior Solutions Engineer]( at Ematic Solutions Makati City, Philippines Software Engineer [logo] [Head of Project Management]( at PT Tricada Intronik Bandung, Java, Indonesia Project & Product Management [logo] [Next JS Developer]( at Scout.inc Jakarta, Indonesia Web Development [logo] [Senior Software Engineer (Develab)]( at Dealls Jakarta, Indonesia Jakarta, Indonesia [logo] [Creative Director]( at Bina Nusantara Group Bandung, Java, Indonesia Project & Product Management [logo] [Software Engineer]( at Klinik Pintar Jakarta, Indonesia DevOps & Cloud Management [ADVERTISE]( | [SUBSCRIBE]( | [HIRE]( | [FIND JOBS]( P.S. Don't miss out on the biggest tech news and analysis. Add newsletter@techinasia.com to your address book, contacts, or safe sender list. Or simply move us into your inbox. Too many emails? Switch to a different frequency or get new content through our [preference center]( or [unsubscribe](. You can also break our hearts and remove yourself from all Tech in Asia emails over [here](  ---------------------------------------------------------------  Tech in Asia’s newsletters are handcrafted daily with love - and sometimes powered by good kopi. Copyright © 2023 Tech in Asia, All rights reserved. 63 Robinson Road, Singapore 068894