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BISHKEK (Reuters) -Kyrgyzstan has launched a national stablecoin and a central bank digital currency in partnership with cryptocurrency exchange Binance, President Sadyr Japarov said on Saturday. A mountainous former Soviet republic of around 7 million people traditionally dependent on labour migrants in Russia, Kyrgyzstan has in recent years positioned itself as a cryptocurrency leader in Central Asia. A5A7, a stablecoin backed by the Russian rouble and based in Kyrgyzstan, has been placed under sanctions by Western governments who say it is used to facilitate avoidance of sanctions on Russia over the war in Ukraine. Changpeng Zhao, the founder of cryptocurrency exchange Binance, was appointed as an adviser on digital assets to the president of Kyrgyzstan in May. Zhao said in a post on X on Saturday that the Kyrgyz national stablecoin had been launched on the BNB Chain and that the digital version of Kyrgyzstan's currency, the som, was ready for use in government payments. He said a national cryptocurrency reserve had been established, which includes Binance’s BNB token. U.S. President Donald Trump on Friday pardoned Zhao, who had previously been convicted of money laundering-related offences. Kyrgyzstan was traditionally the most democratic of the five former Soviet Central Asian republics, but Japarov has clamped down on dissent since coming to power on a wave of street protests in 2020. The country is due to hold a snap parliamentary election on November 30, with allies of Japarov aiming to expand their dominance of the legislature. (Reporting by Aigerim Turgunbaeva in Bishkek, Writing by Felix Light in Tbilisi, Editing by Timothy Heritage)

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BISHKEK (Reuters) -Kyrgyzstan has launched a national stablecoin and a central bank digital currency in partnership with cryptocurrency exchange Binance, President Sadyr Japarov said on Saturday. A mountainous former Soviet republic of around 7 million people traditionally dependent on labour migrants in Russia, Kyrgyzstan has in recent years positioned itself as a cryptocurrency leader in Central Asia. A5A7, a stablecoin backed by the Russian rouble and based in Kyrgyzstan, has been placed under sanctions by Western governments who say it is used to facilitate avoidance of sanctions on Russia over the war in Ukraine. Changpeng Zhao, the founder of cryptocurrency exchange Binance, was appointed as an adviser on digital assets to the president of Kyrgyzstan in May. Zhao said in a post on X on Saturday that the Kyrgyz national stablecoin had been launched on the BNB Chain and that the digital version of Kyrgyzstan's currency, the som, was ready for use in government payments. He said a national cryptocurrency reserve had been established, which includes Binance’s BNB token. U.S. President Donald Trump on Friday pardoned Zhao, who had previously been convicted of money laundering-related offences. Kyrgyzstan was traditionally the most democratic of the five former Soviet Central Asian republics, but Japarov has clamped down on dissent since coming to power on a wave of street protests in 2020. The country is due to hold a snap parliamentary election on November 30, with allies of Japarov aiming to expand their dominance of the legislature. (Reporting by Aigerim Turgunbaeva in Bishkek, Writing by Felix Light in Tbilisi, Editing by Timothy Heritage)

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By Giulio Piovaccari MILAN (Reuters) -Ferrari is tapping into crypto markets and tech-rich youngsters with a planned new digital token that its wealthiest fans will be able to use in an auction for a Ferrari 499P, the endurance car that won three straight Le Mans titles. The plan for now is limited in scope and is an effort by the Italian sports car maker to tap into a trend among luxury brands seeking access to the growing wealth of younger tech entrepreneurs, as AI and data centres drive investment and markets around the world.  It comes after Ferrari, which is also developing its first electric car, began accepting Bitcoin, ethereum and USDC for car purchases in the United States in 2023 and extended the service to Europe last year. Ferrari is working with Italian fintech Conio to launch the 'Token Ferrari 499P' for members of its Hyperclub — which groups 100 of its most exclusive clients, with a passion for endurance races – to trade amongst themselves and bid on the racing model. It is set to debut with the start of the 2027 World Endurance Championship season. "This is about strengthening the sense of belonging among our most loyal customers," Chief Marketing and Commercial Officer Enrico Galliera told Reuters. With prominent backers including U.S. President Donald Trump, crypto prices have surged, but regulators warn loose oversight and speculative trading creates risks for investors and financial stability. Bitcoin is up 60% in the last year. The token will still take time to become a reality. Conio is applying for a licence under the European Union's new crypto regulation, but sees room for growth. "The potential for development is enormous," said Conio's Chief Fintech Strategist and project architect Davide Rallo. (Reporting by Giulio Piovaccari in Milan, additional reporting by Elizabeth Howcroft in Paris; Editing by Adam Jourdan and Chizu Nomiyama)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

By Giulio Piovaccari MILAN (Reuters) -Ferrari is tapping into crypto markets and tech-rich youngsters with a planned new digital token that its wealthiest fans will be able to use in an auction for a Ferrari 499P, the endurance car that won three straight Le Mans titles. The plan for now is limited in scope and is an effort by the Italian sports car maker to tap into a trend among luxury brands seeking access to the growing wealth of younger tech entrepreneurs, as AI and data centres drive investment and markets around the world.  It comes after Ferrari, which is also developing its first electric car, began accepting Bitcoin, ethereum and USDC for car purchases in the United States in 2023 and extended the service to Europe last year. Ferrari is working with Italian fintech Conio to launch the 'Token Ferrari 499P' for members of its Hyperclub — which groups 100 of its most exclusive clients, with a passion for endurance races – to trade amongst themselves and bid on the racing model. It is set to debut with the start of the 2027 World Endurance Championship season. "This is about strengthening the sense of belonging among our most loyal customers," Chief Marketing and Commercial Officer Enrico Galliera told Reuters. With prominent backers including U.S. President Donald Trump, crypto prices have surged, but regulators warn loose oversight and speculative trading creates risks for investors and financial stability. Bitcoin is up 60% in the last year. The token will still take time to become a reality. Conio is applying for a licence under the European Union's new crypto regulation, but sees room for growth. "The potential for development is enormous," said Conio's Chief Fintech Strategist and project architect Davide Rallo. (Reporting by Giulio Piovaccari in Milan, additional reporting by Elizabeth Howcroft in Paris; Editing by Adam Jourdan and Chizu Nomiyama)

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HANOI (Reuters) -A landmark U.N. cybercrime treaty, aimed at tackling offences that cost the global economy trillions of dollars annually, is set to be signed in Vietnam's capital Hanoi by around 60 countries over the weekend. The convention, which will take effect after it is ratified by 40 nations, is expected to streamline international cooperation against cybercrime, but has been criticised by activists and tech companies over concerns of possible human rights abuses. "Cyberspace has become fertile ground for criminals…every day, sophisticated scams defraud families, steal livelihoods, and drain billions of dollars from our economies," U.N. Secretary-General Antonio Guterres said at the opening ceremony. "The U.N. Cybercrime Convention is a powerful, legally binding instrument to strengthen our collective defences against cybercrime." The convention targets a broad spectrum of offences from phishing and ransomware to online trafficking and hate speech, the U.N. has said, citing estimates that cybercrime costs the global economy trillions of dollars each year. Vietnam President Luong Cuong said the signing of the convention "not only marks the birth of a global legal instrument, but also affirms the enduring vitality of multilateralism, where countries overcome differences and are willing to shoulder responsibilities together for the common interests of peace, security, stability and development." Critics have warned its vague definition of crime could enable abuse. The Cybersecurity Tech Accord, which includes Meta and Microsoft, has dubbed the pact a "surveillance treaty," saying it may facilitate data sharing among governments and criminalise ethical hackers who test systems for vulnerabilities. The U.N. Office on Drugs and Crime (UNODC), which led the treaty negotiations, said the agreement includes provisions to protect human rights and promotes legitimate research activities. The European Union, the United States and Canada sent diplomats and officials to sign the treaty in Hanoi. Vietnam's role as host has also stirred controversy. The U.S. State Department recently flagged "significant human rights issues" in the country, including online censorship. Human Rights Watch says at least 40 people have been arrested this year, including for expressing dissent online. Vietnam views the treaty as an opportunity to enhance its global standing and cyber defences amid rising attacks on critical infrastructure. (Reporting by Francesco Guarascio and Khanh Vu; Editing by Jacqueline Wong)

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By Jessica DiNapoli NEW YORK (Reuters) -Snack maker Mondelez is using a new generative AI tool to cut costs for the production of marketing content by 30% to 50%, a senior executive told Reuters. The packaged-food manufacturer began developing the tool last year with ad company Publicis Groupe and IT firm Accenture. Mondelez expects that the tool will be capable of making short TV ads that would be ready to air as soon as next year's holiday season, and potentially for the 2027 Super Bowl, said Jon Halvorson, Mondelez’s global senior vice president of consumer experience. The Cadbury chocolate producer has invested more than $40 million in the tool, Halvorson said, adding that savings would grow if the tool is able to make more elaborate videos. Faced with tariffs and shrinking shopper budgets, Mondelez, like other consumer goods companies, is looking to adopt AI to slash fees paid to advertising agencies, and speed up how long it takes to develop and sell new products.  Rivals such as macaroni-and-cheese maker Kraft Heinz and Coca-Cola have also been trying out AI for ads. Coke in 2024 ran AI-created holiday ads, though the computer-created people in them were ridiculed by some consumers for lacking real emotion. Mondelez is not yet putting human likenesses in its AI-created content. It is using content generated by the new tool on social media for its Chips Ahoy cookies in the U.S. and Milka chocolate in Germany. An eight-second Milka video shows waves of chocolate rippling over a wafer, along with different backgrounds depending on which consumer Mondelez is targeting. The cost to do animations "is in the hundreds of thousands," Halvorson said. "This type of setup is orders of magnitude smaller." In the U.S., Oreo will use the tool for product pages on Amazon and Walmart in November. Mondelez plans to use the tool in the coming months for Lacta chocolate and Oreo in Brazil, and Cadbury in the UK, Halvorson said.  Tina Vaswani, vice president of digital enablement and data for the company, said humans will always check what the tool produces to avoid any mishaps. Mondelez has rules prohibiting highlighting unhealthy eating habits, vaping, overconsumption, emotionally manipulative language and the use of offensive stereotypes, according to a document shared by the Chicago-based company. (Reporting by Jessica DiNapoli in New York; Editing by Aurora Ellis)

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By Jessica DiNapoli NEW YORK (Reuters) -Snack maker Mondelez is using a new generative AI tool to cut costs for the production of marketing content by 30% to 50%, a senior executive told Reuters. The packaged-food manufacturer began developing the tool last year with ad company Publicis Groupe and IT firm Accenture. Mondelez expects that the tool will be capable of making short TV ads that would be ready to air as soon as next year's holiday season, and potentially for the 2027 Super Bowl, said Jon Halvorson, Mondelez’s global senior vice president of consumer experience. The Cadbury chocolate producer has invested more than $40 million in the tool, Halvorson said, adding that savings would grow if the tool is able to make more elaborate videos. Faced with tariffs and shrinking shopper budgets, Mondelez, like other consumer goods companies, is looking to adopt AI to slash fees paid to advertising agencies, and speed up how long it takes to develop and sell new products.  Rivals such as macaroni-and-cheese maker Kraft Heinz and Coca-Cola have also been trying out AI for ads. Coke in 2024 ran AI-created holiday ads, though the computer-created people in them were ridiculed by some consumers for lacking real emotion. Mondelez is not yet putting human likenesses in its AI-created content. It is using content generated by the new tool on social media for its Chips Ahoy cookies in the U.S. and Milka chocolate in Germany. An eight-second Milka video shows waves of chocolate rippling over a wafer, along with different backgrounds depending on which consumer Mondelez is targeting. The cost to do animations "is in the hundreds of thousands," Halvorson said. "This type of setup is orders of magnitude smaller." In the U.S., Oreo will use the tool for product pages on Amazon and Walmart in November. Mondelez plans to use the tool in the coming months for Lacta chocolate and Oreo in Brazil, and Cadbury in the UK, Halvorson said.  Tina Vaswani, vice president of digital enablement and data for the company, said humans will always check what the tool produces to avoid any mishaps. Mondelez has rules prohibiting highlighting unhealthy eating habits, vaping, overconsumption, emotionally manipulative language and the use of offensive stereotypes, according to a document shared by the Chicago-based company. (Reporting by Jessica DiNapoli in New York; Editing by Aurora Ellis)

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(Reuters) -Netflix has shut down the studio behind its mobile game "Squid Game: Unleashed", amid a shift in strategy for its video gaming unit. The studio's closure was confirmed by its co-founder and former CEO, David Rippy, in a LinkedIn post on Thursday. "Rough news, for sure, but I'm very grateful for the time we had at Netflix," Rippy said. The streaming giant, which has ventured into advertising and video games to diversify its revenue streams, acquired Boss Fight Entertainment in 2022 to broaden its offering. "After 10+ great years working at Boss Fight, the last few as part of Netflix, the time has come for the studio to close down," David Luehmann, a director of game development at the studio, said in another LinkedIn post. Netflix did not immediately respond to a Reuters request for comment. Boss Fight's two games, "Netflix Stories" and "Squid Game: Unleashed", will continue to be available on the streaming platform. Netflix, which named Alain Tascan as president of games last year, has a new strategy that will focus on party, narrative, kids and mainstream games. Netflix Co-CEO Greg Peters touted "Squid Game: Unleashed" during its earnings call earlier this week as an example of the types of narrative games it would like to make based on its own shows. (Reporting by Juby Babu in Mexico City; Editing by Anil D'Silva)

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By Kritika Lamba and Arsheeya Bajwa (Reuters) -Two Grindr board members, part of an investor group that owns more than 60% of the company, have proposed to take one of the world's most recognized dating platforms for the LGBTQIA+ community private for about $3.46 billion. Shares of the company closed up nearly 19% on Friday. A deal would give board members Ray Zage and James Lu greater control of the popular LGBTQIA+ dating platform with millions of users in more than 190 countries, at a time when online dating companies are under immense pressure to rekindle growth. Grindr, along with industry leaders such as Tinder-parent Match Group and Bumble has wrestled with slowing user additions and rising criticism of "swiping fatigue," as younger users experiment with AI-driven and niche matchmaking alternatives. Zage and Lu originally acquired Grindr in June 2020, and led the company's public listing in November 2022. The consortium has secured significant expressions of interest to participate in financing, including multiple highly confident letters and contributions of equity, and is confident these will be sufficient to fund the acquisition, the shareholders said. "We are strong believers in the long-term outlook for the company — I have been a consistent buyer of shares in Grindr since listing, buying over $200 million of shares on the public market and am also willing to contribute additional equity to this deal," Zage said. The company's stock has been volatile since going public in 2022, trading below its debut levels for much of the last year. BID LIKELY TO SUCCEED The offer of $18 per share represents a 51% premium over the stock price on October 10, the day prior to when shareholders first informed the company of their intention to explore a going-private transaction, they said. The proposal is slightly below expectations, but investors likely had concerns around growth, which would be difficult to allay without a few sustained quarters of good performance, analysts at Raymond James said in a note. While Grindr would offer valuable assets for other players in the online dating industry, peers are more likely to focus on improving their existing businesses rather than turning to acquisitions, the analysts added. "We view today's bid as the most likely to cross the finish line." Last week, Grindr's board established a special committee of "disinterested and independent directors" to evaluate any definitive proposals, including committed financing, presented to the company. The committee is reviewing Friday's unsolicited offer, Grindr said. (Reporting by Kritika Lamba in Bengaluru and Arsheeya Bajwa; Editing by Alan Barona)

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