Company: KOYNU
Filing Date: 2025-07-22
Form Type: S-1/A
Source: 0001829126-25-005283
Chunk: 37

Company: CSLM Digital Asset Acquisition Corp III, Ltd
Filing Date: 2025-07-22
Form: S-1/A
Chunk 37
---
 since 2014.

Smartphone penetration in Pakistan has grown to nearly 98 million subscribers, or 6.5 times since 2013 as shown by the Pakistan Telecom Authority. According to the Bangladesh Bureau of Statistics, Bangladesh has over 89.9% smartphone penetration as of 2022.

As mobile adoption in both Pakistan and Bangladesh switches from 3G and 4G to 5G, we believe there will be tremendous opportunities as the share of people online grows. In particular, we believe South Asia presents tremendous market opportunities for new economy companies.

Southeast Asia

With a population of 678 million and a nominal GDP of approximately $3.9 trillion in 2023, we believe the Association of Southeast Asian Nations, or ASEAN, made up of countries in Southeast Asia including Indonesia, Thailand, Singapore, Vietnam, the Philippines, Malaysia, Brunei Darussalam, Myanmar, Cambodia and Laos) will become a major regional economic force and a driver of global growth. ASEAN remains one of the fastest growing regions in the world with most economies seeing growth of 5% or more per annum and according to estimates by ASEAN, and will become the fourth-largest economy in the world by 2030 after the United States, China, and the European Union. With approximately 480 million internet users in the region, of which nearly half connect to the internet primarily through their mobile phones, Southeast Asia boasts one of the most engaged mobile internet audiences in the world. In addition, with the number of people aged 15 to 35 projected to reach 218 million by 2030, Southeast Asia’s internet economy is experiencing rapid growth, with projections to reach $1 trillion by 2030. This growth is fueled by a young, tech-savvy population, increasing smartphone adoption, and a burgeoning middle class.

In addition, we believe the Southeast Asian region presents market opportunities in the financial sector given the gap between needs of the populace and the volume of electronic payment and transfer volumes. We believe that this gap coupled with low insurance penetration in these markets create significant market opportunities in these segments. We also believe that there are not many funding sources for middle and late-stage fundraising in the Southeast Asian consumer internet space, which we believe provides potential opportunities.

Our Business Strategy

Our business strategy consists of identifying and completing a business combination with one or more businesses or entities within Frontier Growth Markets, underpinned by an ESG mandate to create long-term value for our shareholders. We believe our management team and directors’ experience and local