Durian, Lawsuits and Autonomous Bots | TWIF China

Thredd provided the issuer processing infrastructure for Cashi’s stablecoin spending card launch in Hong Kong, which allowed users to spend digital assets using virtual Visa cards integrated with Google Pay. Following this initial rollout, the companies planned a subsequent expansion into Mexico for late 2026 to introduce physical cards and Apple Pay support.

OSL Group secured a dedicated SWIFT Business Identifier Code (BIC) to settle cross-border transactions directly under its own name. This integration successfully reduced intermediary friction and improved transparency for institutional clients transferring funds between fiat currencies, stablecoins, and digital assets.

The Asian Infrastructure Investment Bank (AIIB) explored tokenized payments and digital settlement systems to modernize its capital market operations. To support its global fundraising efforts, the institution also planned to establish a physical hub in Hong Kong to leverage the city's growing digital finance ecosystem.

This is my favorite news this week because durian is my favorite fruit: China and Malaysia successfully tested a direct cross-border payment corridor by settling a 43,000 yuan digital currency transaction for a durian shipment in approximately 30 minutes. The bank-to-bank mechanism effectively bypassed intermediary clearing fees to streamline international trade settlements.

Visa partnered with S.F. Express in Hong Kong to implement contactless card payments for parcel deliveries and pickups. This collaboration allowed customers to pay freight and cash-on-delivery charges directly at their doorsteps using couriers' smart handheld devices.

Binance Pay partnered with TBCASoft to enable QR code payments through the HIVEX Network in Japan. This integration bridged digital payment ecosystems with traditional retail infrastructure, allowing millions of users to make seamless purchases across extensive merchant networks.

OSL Group launched AgentPay, a stablecoin payment infrastructure that enabled AI agents to autonomously execute high-frequency, micro-value transactions. The platform integrated with open payment protocols to manage multi-asset routing, signing, and zero-gas-fee settlements for developers.

Bitget terminated its cryptocurrency trading services for Japanese residents and scheduled the forced closure of all remaining positions by December 2026. The exchange implemented these operational changes to comply with new Japanese legislation that reclassified cryptocurrencies as financial instruments and tightened regulatory oversight.

Binance-affiliated entities sued RedotPay in Hong Kong for allegedly breaching a partnership agreement by diverting over 470,000 users, seeking nearly $473 million in damages. Following an August 7 hearing for a related Singapore lawsuit, the companies disputed the case's status, as RedotPay anticipated a discontinuance while Binance firmly denied any plans to abandon its claims.