Cash crumbles as Maya heats up

More: Malaysia introduces new cloud and AI policies. [Read from your browser]( Daily Newsletter Welcome to Tech in Asia's free Daily Newsletter! Get full access to our subscribers-only Daily Newsletter and other insightful analysis on the big and messy topics of Asia’s tech and startup community by [registering here](.  --------------------------------------------------------------- IN FOCUS In today's newsletter, we spotlight: - [Maya’s journey to a potential IPO]( - Dyson’s Singapore layoffs - The funding landscape in Southeast Asia - Other newsy highlights such as Malaysia’s new cloud and AI policies --------------------------------------------------------------- Hello {NAME} For those of us fortunate enough to live in countries where digital payments are common, think back to the days when such solutions weren’t widely available or accepted by merchants. Every week or so, you’d make a trip down to the ATM, try to estimate how much cash you’d need for the next few days, and then leave with a niggling sense of doubt about whether it was really enough. Paying for things could sometimes be inconvenient, especially if the cashier was a little slow with counting your change. Not to mention, you’d probably have to check that they gave you the right amount. I’m glad we’re more or less past that, and with the help of companies like Maya, people in the Philippines might be well on their way too. The digital payments provider has posted solid 2023 numbers, which brings up the question of whether an IPO is in order. -- Jonathan  ---------------------------------------------------------------  THE BIG STORY Maya's revenue surged 70% in three years, proving the power of digital payments in the Philippines. The growth was fueled by its mobile credit services and increasing adoption of digital payments in the country. [Click here]( to read more. --------------------------------------------------------------- TRENDING NEWS [MY set to implement new cloud, AI policies as Google invests]( Malaysia is set to implement a national cloud policy and introduce regulations overseeing the ethical use of AI. The government also plans to create a national office dedicated to coordinating various initiatives related to AI, which includes a five-year action plan and regulatory frameworks. [Dyson lays off staff in Singapore]( Dyson conducted layoffs in Singapore, three months after the company claimed its global headquarters in the city state was “not directly impacted” by a restructuring that resulted in about 1,000 job cuts in Britain. The total number of job cuts made was not revealed. ---------------------------------------------------------------  VISUAL STORY OF THE DAY [Capital SEA: Southeast Asia’s funding landscape]( Who are the new active investors on the block? Which funding rounds look like outliers? This visual story answers all this and more. --------------------------------------------------------------- TECH IN ASIA CONFERENCE 2024 JAKARTA | OCTOBER 23-24  The future of Indonesia’s electric vehicle leadership With its rich nickel reserves, Indonesia is poised to become a key player in Southeast Asia’s electric vehicle (EV) industry. But can it outrun the competition? While Indonesia gears up for EV dominance, environmental concerns and strong EV markets in Thailand and Vietnam present significant challenges. At [Tech in Asia Conference Jakarta]( top industry leaders will unpack Indonesia’s unique position in the EV race and discuss how the region can navigate the evolving EV landscape. Secure your spot to hear this must-attend session and explore Indonesia’s future in the global EV market. 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