How Asia’s IPO Boom, China's AI Race, and a Genius Stablecoin Shake-Up Are Reshaping Tech

Asia’s IPO window is finally open — but the action isn’t in New York anymore. From Hong Kong’s rebound to India’s retail-fueled listings, Maria, Prashanth, and new resident analyst Aleksey Mironenko break down why Asia’s biggest tech players are staying closer to home this round.

They then tackle the deepening AI divide: is the world headed toward two tech stacks, two chipsets, and two digital ecosystems? And finally, they decode the U.S. Genius Act — a cleverly named law that could quietly cement the dollar’s dominance in the crypto future.

Three macro shifts. One sharp conversation. Welcome to 60/40.

Timestamps

[00:00] Welcome back + Meet new co-host Aleksey Mironenko
[01:20] The IPO window is open — is Asia ready to step through?
[04:45] Why Chinese and Indian tech giants are listing closer to home
[06:20] Geopolitics, dual listings, and the case for staying off NASDAQ
[08:50] India’s IPO moment: Retail frenzy, deep markets, and homegrown confidence
[11:30] Why Singapore (still) isn’t a real contender
[13:10] Are we headed for a bifurcated AI world? Two tech stacks, two chipsets
[18:00] China’s hardware edge vs. the US software play
[22:00] Is AI already becoming a commodity?
[27:00] The AI agent wars: Why loyalty doesn’t matter (yet)
[36:00] Is the Genius Act actually genius?
[38:00] Stablecoins, dollar dominance, and programmable money
[49:00] The business model behind stablecoins: Who profits, and how
[52:00] AI agents, microtransactions, and the future of digital money
[58:00] Tariffs, Trump, and Tokyo’s $550B surprise deal
[01:01:30] Wrap-up: Should we keep Aleksey?

Give us feedback or nominate topics & speakers at 6040podcast@techinasia.com.

60/40 is co-hosted by: Prashanth Ranganathan, Peter Bithos, and Maria Li. Special thanks to our resident analyst, Aleksey Mironenko.

A podcast by Tech in Asia, a member of The Business Times.