Welcome back to Continuum Weekly News. Every Friday we bring you the top Asia headlines on digital-asset regulation, cyber risk, industry moves and insurance signals, with concise takeaways and practical actions for insurers and corporate risk teams.
1) Regulatory News
PayPay buys 40% of Binance Japan
SoftBank-backed PayPay took a major stake in Binance’s Japan unit, deepening payments ↔ crypto integration and potentially shifting on-ramp and custody partnerships in Japan.
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HSBC moves to acquire Hang Seng
HSBC’s bid for full control of Hang Seng signals bigger strategic bets in Hong Kong that could affect bank-led stablecoin / custody dynamics in APAC.
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2) Hacking & Physical Risks
Qilin ransomware group claims hack on Japan’s Asahi
A prolific ransomware gang published alleged internal documents and claimed responsibility for an attack on Asahi Group Holdings that disrupted production earlier in the week. This continues the trend of large ransomware actors targeting APAC corporates.
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Q3 hack trends — code exploits fall but wallet & operational attacks surge
Quarterly analysis shows total exploit losses down YoY but a pivot toward wallet-level and operational attacks (social engineering, credential theft) — meaning attackers are shifting to people and process weaknesses.
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3) Industry Updates
Record ETF / spot inflows and BTC at new highs
U.S. & global spot crypto ETFs recorded record inflows the week ending Oct 4, coinciding with bitcoin moving to fresh highs — a material liquidity and custody sizing signal for APAC.
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Token / stablecoin rails and merchant tests advance in APAC
OKX Pay and other projects are rolling stablecoin → merchant rails in Singapore and SE Asia, testing retail settlement flows and PSP integration models.
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4) Insurance Spotlight
Insurer scrutiny on AI exposures — D&O & legacy policies in focus
Insurers are tightening appetite for AI risks and probing company disclosures; carriers are actively testing whether traditional lines—D&O, CGL and E&O—apply as courts and regulators clarify coverage boundaries. Expect narrower limits, higher retentions and stricter demands for model governance, incident logs and clear disclosure before capacity is offered.
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OpenAI / AI liability funding & insurance gap
Major AI firms are exploring investor-funded settlements/captive structures after insurers balk at open-ended AI liabilities—this signals where insurers may draw limits on emerging-tech risks.
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