Chinese AI firm DeepSeek is finalizing a new funding round that has expanded to at least 80 billion yuan (about $12 billion), far surpassing its earlier 50 billion yuan target, according to Bloomberg. Tencent Holdings and battery giant CATL have committed large amounts to the round, which could ultimately approach 100 billion yuan. Investor enthusiasm surged after the release of DeepSeek's latest AI model, underscoring the intensifying competition for AI capital across the region.

OKX unveiled OKX Money at its Singapore OKX NOW summit, a standalone application built on the X Layer network that targets non-crypto-native users with transfers, spending, savings, and asset custody. The self-custodial smart account app supports round-the-clock digital asset transfers and is live in more than 30 countries. A Pay Boost feature backed by Aave is available for European users, letting them earn yield while retaining spending flexibility.

Hong Kong's Secretary for Financial Services and the Treasury, Christopher Hui, said the government will submit an amendment bill within this year to establish a licensing framework for virtual asset trading, custody, advisory, and management services. The announcement came during a Legislative Council briefing on the city's first five-year policy plan. Hui also confirmed that the city's gold central clearing and settlement system will launch in the first quarter of next year.

South Korea's Ministry of Science and ICT will launch a 4.7 trillion won (about $3.5 billion) program to develop frontier AI models starting March 2027. The government intends to combine national equity investment with private capital and concentrate computing chips, data, and talent on the initiative. A lead developer will be selected through public bidding after parliament approves the 2027 budget in December.

Chainalysis data shows South Korea recorded approximately $449.1 billion in on-chain crypto activity from July 2025 to June 2026, up 12.3% from the prior cycle and the largest in East Asia. Japan, Hong Kong, and mainland China followed with roughly $228.3 billion, $192.2 billion, and $176.3 billion respectively, bringing the regional total to about $1.19 trillion. AI-themed tokens have become the largest sector by Korean won trading volume, led by WLD at $7.41 billion.

Japan's cabinet approved additional sanctions against Russia, freezing assets of 33 military-related entities and nine individuals, including groups involved in using virtual assets to evade financial sanctions. The government will also ban services such as operation, repair, insurance, and financing for 35 ships in Russia's shadow fleet. The measures reflect growing regulatory scrutiny of crypto channels used to circumvent international sanctions.

Singapore-headquartered data center operator DayOne, backed by SoftBank, is preparing to raise up to $5 billion in a US IPO on Nasdaq by year-end, Reuters reported. The company filed its prospectus with the SEC on Monday, disclosing that first-half revenue more than tripled year-over-year to $512 million, while net losses widened to $81.9 million. The listing highlights how Asian digital infrastructure firms are tapping US capital markets amid the AI buildout.

Singapore-based fintech IPID closed a $16 million Series A led by Foundation Capital, with participation from Citi, HSBC, QED Investors, Monk's Hill Ventures, and Quona Capital. The company will use the funds to expand its global payment intelligence network and build out US payment rails, stablecoin, and digital asset market capabilities. The round reflects growing institutional interest in Asia's cross-border payment infrastructure.

AMD CEO Lisa Su confirmed the company will increase its previously announced $10 billion Taiwan supply chain investment, citing stronger-than-expected AI demand. During a visit to Taiwan, Su met with partners including Foxconn, Quanta, Asus, Acer, and TSMC. The expanded commitment underscores Taiwan's central role in the global AI hardware supply chain.

Chinese AI startup Moonshot AI has completed its final private funding round at a valuation of about $50 billion, according to people familiar with the matter. The company is preparing for a Hong Kong IPO as early as the first quarter of next year and may begin preliminary investor meetings this month. The listing plans signal continued appetite for Chinese AI assets despite broader market volatility.