How these founder-led stocks rocketed Ziller to a 50pc return
Field possessed all the signs of a genius, including mastering algebra by age six. At school, he preferred to spend time with a janitor who was also a maths savant – someone with exceptional mathematical ability – and at university, Field received the prestigious Thiel Fellowship – a $US100,000 ($154,873) grant for students willing to leave university to pursue bold ideas.
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West Australian
an hour ago
- West Australian
The global crypto wave is catching on in Asia as businesses warm up to stablecoins
Businesses across Asia are increasingly warming up to stablecoins for cross-border transactions — a trend set to accelerate further as Hong Kong moves to legalise the use of digital tokens, experts told CNBC. From online travel agencies and luxury goods resellers to high-end hotels, companies are embracing stablecoin for payments, citing both speed and cost-efficiency compared to the traditional financial system. Stablecoins are cryptocurrencies usually pegged to sovereign currencies or even gold, making them more stable compared to other crypto assets. Hong Kong's new legislation, set to take effect Friday, will formalise the framework for financial firms to issue and manage these virtual assets, similar to the US GENIUS Act. Cryptocurrency wallet platforms allow customers to pay via digital currencies, which are then converted into stablecoins or local fiat currencies while being credited to merchants, minimising price volatility and settlement risk for businesses, according to several crypto industry veterans and business owners. Monthly stablecoin transaction volumes between businesses had surged to more than $US3 billion ($4.6b) by early 2025, from under $US100 million at the start of 2023, according to a report by blockchain analytics firm Artemis from May. The report was based on a survey of 31 stablecoin-based payment firms that process transactions on behalf of end users globally. Unlike conventional cross-border bank transfers that can take several days and incur steep processing fees, stablecoin transactions are nearly instantaneous and substantially cheaper, experts pointed out. 'What blockchain is able do is to facilitate transactions between parties with less counterparty risks,' Ben El-Baz, head of global expansion at cryptocurrency exchange Hashkey Global, said. Blockchain is a technology used for keeping account of crypto transactions. 'For cross-border payments, instead of having to go from originating bank to intermediary to correspondent bank, then down to the beneficiary . . . stablecoins transferred via blockchain are basically an exchange of value that happens instantaneously,' he added. That has attracted the interest of major payment processors such as Visa, Mastercard, and Stripe, all of which have begun integrating stablecoin support into their payment infrastructure. The momentum has been further fueled by the regulatory development in the US in the past two months. The listing of USD Coin-issuer Circle in June along with President Donald Trump's GENIUS Act have sparked broader interest in digital payments across Asia. 'Stablecoin has surely emerged as a supplementary currency to the conventional fiat currencies,' Alice Liu, founder and CEO of dtcpay, said. The Singapore-based fintech company helps clients process stablecoin payments and convert them into fiat currencies. Dtcpay's clients include Chinese businesses with legal entities in Singapore and Hong Kong to settle stablecoin payments into preferred currencies, often US dollar, Singapore dollar or Chinese offshore yuan. Singapore-based travel agency Wetrip, which specialises in organising group tours to China, began accepting stablecoin payments in June. It accepts them via digital wallets such as the one offered by the world's top crypto exchange, Coinbase, lured by faster settlement and significant cost savings. 'The lengthy processing period and hefty transaction fees with traditional banking network were real pain points,' Vincent Xue, the company's founder and CEO, told CNBC. He added that if his suppliers were to start accepting stablecoin, he would not need to convert them back into local fiat money, allowing his entire payment stack to operate fully on blockchain. Global stablecoin payment volumes hit $US94.2b over the two years ending February, with business-to-business transactions accounting for one third of the flows, according to Artemis. Stablecoin payments by consumers directly to businesses are also on the rise, climbing to over $US300m a month early this year from just $US50m in early 2023. Singapore and Hong Kong were among the top three markets for stablecoin flows, just following the US. The Singapore-China route, in particular, emerged as the busiest for stablecoin flows, the report said, while the next seven largest corridors all involved the US. Among retailers, many luxury businesses are embracing blockchain payments, with more high-end brands adopting stablecoin-to-fiat transactions for high-value purchases, citing speed, higher upper limits on transaction value as key advantages. Capella Hotel, a Singapore-based high-end hotel group, started allowing guests to complete transactions using digital currencies in October last year, due to 'growing demand (for) secure and convenient payment option,' according to its statement. Ginza Xiaoma, a specialist collector and reseller for Hermes Birkin handbags, began accepting stablecoin payments in Singapore earlier this year, as several local customers requested to pay in cryptocurrencies. The boutique handbag reseller is eyeing to expand crypto payments in its Hong Kong branch in the coming months, as well as in its Tokyo branch in the next few years. 'More payment options mean a higher chance of sealing the deal,' Qian Zhou, director of sales at Ginza Xiaoma, told CNBC. Zhou's outlet mostly sells to customers in Singapore, Hong Kong, the U.S. and Europe. About 3 per cent of the company's transactions are currently settled in stablecoins — a share that could climb to as much as 20 per cent by year-end, Zhou estimates, translating into half a million Singapore dollars in monthly revenue. Chinese government has traditionally imposed stringent restrictions on crypto activity, citing concerns over financial stability, fraud and capital flight. Signaling a shift in policy direction, Shanghai government in July convened a work group, vowing to deepen their understanding of how to use blockchain technology in cross-border trades. While Beijing sticks to a conservative stance in mainland China, Hong Kong, as a special administrative region of the country, has emerged as a regulatory sandbox for Beijing with the aim of preserving its global edge in financial innovation. A slew of mainland-listed fintech companies recently announced plans related to stablecoin usage. Shenzhen-listed Yusys Technologies said in July that it is exploring real-world applications for introducing stablecoin payments into everyday retail scenes. Both and Ant Financial have plans to issue stablecoin backed by the Hong Kong dollar, after the new legislation takes effects Friday. 'As more regulatory clarity comes out around stable coins. The ability of stablecoin payment networks replacing SWIFT-based payment networks is very high,' Hashkey's Mr El-Baz said. SWIFT, which stands for Society for Worldwide Interbank Financial Telecommunications, is the dominant network for international money transfers. 'We're really just on the cusp of this,' he added. CNBC
AU Financial Review
7 hours ago
- AU Financial Review
How these founder-led stocks rocketed Ziller to a 50pc return
Since Joseph Ziller was a kid, he's always been fascinated by brilliant business minds. So when the fund manager came across 32-year-old tech whizz Dylan Field last year, he knew he was onto something special. Field possessed all the signs of a genius, including mastering algebra by age six. At school, he preferred to spend time with a janitor who was also a maths savant – someone with exceptional mathematical ability – and at university, Field received the prestigious Thiel Fellowship – a $US100,000 ($154,873) grant for students willing to leave university to pursue bold ideas.
Sydney Morning Herald
2 days ago
- Sydney Morning Herald
The country where 76 per cent of cars sold are electric
'We're interested in making sure that this rapid growth in these emerging markets doesn't follow the same trajectory as the developed markets,' said Rob de Jong, head of sustainable transportation for the United Nations Environment Program. But as Nepal has learnt, there are obstacles. The country has spent heavily on subsidies for EVs, and getting rid of the support too quickly could derail the shift to battery power. Even if petrol-powered passenger cars are phased out, cleaning the air will require public transportation to go electric as well. The Asian Development Bank, a multinational development lender, has been a key financier of Nepal's dams, transmission lines and charging networks. The head of the bank's resident mission in Nepal, Arnaud Cauchois, is cautious about the risk of backsliding. 'Given the economic sense that this EV conversion represents for Nepal, I think I would see it as unlikely that we would have major policy change,' Cauchois said. 'But that's basically a wish more than a conviction.' From Indian petrol to Chinese cars Many countries are trying to electrify their vehicle fleets, but the case for doing so is even more obvious in Nepal, with its clean energy embodied in the rivers that run down from the Himalayas. A 2015 border skirmish with India squeezed Nepal's petroleum imports, then its largest energy source. After that, the government invested heavily in hydropower and grid infrastructure, which have provided cheap, non-polluting sources of electricity. Nearly all households now have access, and the rolling blackouts have ended. To maximise the potential of its homegrown power, Nepal would need to use it for transportation. But EVs were still too expensive for mass adoption in a country with a per-capita economic output of about $US1400 ($2150). So, the government pulled all the levers it had to provide incentives. Nepal's primary source of revenue is taxes on imports. To make EVs cheaper, the government set its customs and excise taxes on the cars at a combined maximum of 40 per cent in 2021, compared with 180 per cent for petrol-powered cars. Now, the electric version of one Hyundai SUV costs less than $US38,000, while the petrol-powered model is about $US40,000. The Nepal Electricity Authority built 62 charging stations, in Kathmandu and on highways across the country. It allowed anyone to build chargers, levied negligible tariffs on their import and gave away transformers – the priciest component. Finally, the government set electricity costs for chargers at less than market rates. At those prices, fuelling a petrol-powered car cost about 15 times as much as charging an electric one. That was enough to create a business model for hotels, restaurants and other roadside entrepreneurs to install chargers on their own. 'At first, everybody was scared – how to establish and whether it would run or not,' said Kul Man Ghising, who managed the electricity authority until March. 'But we tried and tried and tried.' Businesses have now installed about 1200 chargers, according to the agency, and private residences are likely to have thousands more. 'A win-win situation' At first, automotive dealers were sceptical. But Yamuna Shrestha saw the potential. Originally a distributor for solar power equipment made by BYD, the largest electric car company in China, she saw some of its new models on a trip to the company's Shenzhen headquarters in 2016. She secured the licence to distribute BYD vehicles in Nepal a few years later, when few others thought EVs could gain traction. 'Many people were pushing for fossil fuels, but there was no one advocating for electric vehicles,' Shrestha said. Her sales took off when BYD released cars that could go further on a single charge and had high enough clearance to cope with Nepal's rough roads. Now, she has 18 dealerships and expects to sell 4000 vehicles in 2025. Loading But the competition is withering, as dozens of Chinese brands have entered the market. Dealers of Indian-made vehicles say they can't match the low price and high quality of vehicles coming from Chinese manufacturers, which have been pressing to get into any markets they can. 'There is a kind of geopolitical push when it comes to EVs that come into Nepal,' said Karan Kumar Chaudhary, who runs Suzuki dealerships and leads the Automobiles Association of Nepal. 'You are talking about models that compete with Tesla that are coming in at half the price of a Tesla, which is unrealistic, right? As a consumer, it's a win-win situation.' Jit Bahadur Shahi was convinced. After retiring from the national police last year, he paid about $US33,000 for a new electric minibus. He ferries passengers seven hours from Kathmandu to his town, Janakpur, on the Indian border. Ten round trips are enough to cover his monthly loan payments, and he expects to pay off the van in four years. 'It's OK. I'm happy,' Shahi, 43, said while charging the van on a Saturday. 'But the problem is that charging stations are not everywhere.' He also worries how much it will cost to fix the van after the warranty expires, and what will happen when its battery wears out. Loading Businesses and advocates in the country are concerned that Nepal may already be backing off its commitment to the electric transition. The young democracy has had three prime ministers in the past five years, and priorities have shifted with each of them. The nation's central bank doubled down-payment requirements for EVs this year. The federal government, seeing declining revenues from car imports, has been inching up its tariffs on EVs. The government also does not have a plan for the collection or recycling of batteries. And auto dealers worry that faulty vehicles from some of the smaller Chinese brands could discredit the category. They're pushing for an agency that would independently certify safety and quality. Rajan Babu Shrestha holds the licence to distribute cars in Nepal from Indian manufacturer Tata Motors. He has seen sales rocket on his electric models, but he could go back to selling petrol-powered vehicles if tariffs rose or subsidies for charging stations went away. 'It's a very positive direction they are going in, but it really comes down to the long-term policy,' Shrestha said. 'Stability is always a question mark.' EVs for everybody For now, the electric shift in passenger vehicles is moving swiftly. But a vast majority of Nepal's residents don't have cars. Instead, they use cheaper motorbikes or mostly petrol- and diesel-powered buses. If Nepal is to clean its air, it will have to electrify and expand its public transportation fleet as well. Chiri Babu Maharjan is the mayor of Lalitpur, the city across the Bagmati River from Kathmandu. Legions of scooters have made it difficult for vehicles of any kind to get anywhere on the narrow roads. Electric two-wheelers have not gained much traction in Nepal, as they have in India. 'We are trying to reduce fossil fuel vehicles in my town,' Maharjan said. 'This is very difficult, but we must do something.' The solution, he said, was to give his constituents a better alternative. To do that, Maharjan has placed his trust in Sajha Yatayat, a bus company that is mostly owned by the state. Electric buses are expensive, and transit fares in the region are capped at about US36¢ (55¢) for the longest ride. That makes financing the purchases difficult. Nepal's government has stepped in with about $US22 million to buy them. For the past two years, Sajha Yatayat has been running 41 green-painted electric buses. But Kanak Mani Dixit, who until recently served as Sajha Yatayat's chair, thinks about 800 of them are needed to establish a network of routes with enough frequency to replace individual vehicles. China is stepping into this front, too. Recently, the Chinese government offered to give Nepal 100 more 12-metre-long buses at no cost. Dixit acknowledges that China may have its own motivations, such as increasing acceptance of its larger electric models, but he doesn't worry about it. 'We have been accepting foreign assistance since 1950, and this is foreign assistance,' he said. Even with more buses, taming the chaotic scrum of exhaust-spewing motorbikes will require a regional transportation authority that could clear more space for public transit. The agency's creation has been mired in political disagreement, but Dixit hopes it can finally make clean, accessible mobility a reality. 'The Kathmandu Valley is just waiting for someone to turn the key,' Dixit said. 'Coincidentally, this is the time exactly when the electric buses have made an entry. And you could just suddenly find things much different another five years from now.'
