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Thailand's Baht Stablecoin, GCash IPO & PayU Profits | Ep. 1
Audio is available on Spreaker — see link below.
Thailand's central bank draws a hard line — approving a controlled baht-backed stablecoin while suspending 5,000 accounts for illegal yuan transfers. Plus: GCash eyes a $1.5B IPO, PayU turns EBITDA positive, and a $200M AI financial crime raise signals a new era in fintech infrastructure.
Audio is available on Spreaker — see link below.
Thailand just drew a line between the digital currency it wants and the digital transactions it doesn't. The Bank of Thailand confirmed a baht-backed stablecoin, fully one-to-one backed, initially limited to business-to-business settlement, with a public hearing planned for twenty twenty-six.
The backstory matters here, but only briefly. Thailand's central bank has been working on digital currency since twenty eighteen, through Project Inthanon for wholesale settlement and later cross-border layers via Project mBridge.
The account suspensions tell a separate but connected story. Five thousand accounts is a meaningful enforcement action, not a warning shot.
Elsewhere, the cross-border payment infrastructure story is moving faster than the regulatory one. Morocco's Banque Centrale Populaire and Western Union launched a real-time API-integrated transfer service covering more than two hundred countries, with direct bank account deposits on the receiving end.
On profitability, PayU turned EBITDA positive for the first time, posting eighteen million dollars in fiscal year twenty-six with group revenue growing thirteen percent to seven hundred eighty-one million dollars. For Prosus, that milestone reframes the India fintech portfolio from a drag to a contributor.
Two more developments worth tracking. Quantifind raised two hundred million dollars for its AI-native financial crime and risk intelligence platform, led by Summit Partners.
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