Tagged: hong kong

Hong Kong Exchanges and Clearing Limited (HKEX) Introduces Listing of ETF to Track Saudi Arabian Equities

Hong Kong Exchanges and Clearing Limited (HKEX) is pleased to welcome the listing of Asia Pacific’s first ETF to “track Saudi Arabian equities – the CSOP Saudi Arabia ETF (Stock code: 2830 / 82830).” This ETF, which tracks the FTSE Saudi Arabia Index, “provides investors… Read More

HKMA Comments on the Benefits of Bond Tokenization

Tokenization or turning an asset into a “digital asset” or digital security makes a lot of sense. By leveraging technology, an asset can be managed more effectively, comply with regulations and be programmed to automatically perform certain services. Today, most investible assets are heavy on… Read More

Hong Kong Introduces ADA to Combat Financial Scams and Fraud

The Hong Kong Monetary Authority (HKMA), together with the Hong Kong Association of Banks (HKAB) and the banking sector, support the launch of the Anti-Deception Alliance (ADA) by the Hong Kong Police Force (HKPF). ADA is expected to strengthen the capability of the anti-money laundering… Read More

Hong Kong and Abu Dhabi Beef Up Fintech Cooperation

The Hong Kong Monetary Authority (HKMA) and the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM) have announced a significant development in fintech collaboration through the exchange of a Memorandum of Understanding (MoU). This agreement focuses on enhancing cross-border trade-related data… Read More

Hong Kong: Digital Asset and Fintech-Focused Firm BC Group Secures $91 Million from BGX

Hong Kong City

BC Technology Group, the digital asset and fintech-focused parent of digital asset platform OSL, has announced raising approximately HK$710 million from crypto group BGX. The deal, which still requires the approval of BC Group’s shareholders, will give BGX a 30% stake in the company. OSL… Read More

Hong Kong: Fintech Innovation Boost in GBA with New Tripartite Deal

A landmark agreement has been reached between the Hong Kong Monetary Authority (HKMA), the People’s Bank of China (PBoC), and the Monetary Authority of Macao (AMCM), promising to revolutionize fintech cooperation in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA). The “Memorandum of Understanding on Deepening… Read More

Swiss Crypto Bank SEBA Secures Hong Kong License

SEBA Bank, a digital assets bank regulated in Switzerland, has announced that its subsidiary has been granted a license by the Securities and Futures Commission (SFC) in Hong Kong. The development marks the first regulated foray of the SEBA Group into the Asia Pacific market,… Read More

Hong Kong and Thailand to Launch Cross-Border Digital Payment Systems

Hong Kong and Thailand aims to revolutionize the way travelers handle currency exchange with the launch of interoperable digital payment systems. From December 4, residents from both regions will be able to make transactions using their local digital payment platforms, thanks to a landmark agreement… Read More

Hong Kong Unveils New Fintech Development Initiatives

The Financial Services and the Treasury Bureau (FSTB) of Hong Kong has announced a set of groundbreaking initiatives during the Hong Kong FinTech Week 2023, aimed at integrating fintech developments with the real economy. The comprehensive plan includes the launch of an Integrated Fund Platform… Read More

HK’s Financial Secretary Defends Robust Virtual Assets Regulation Amidst JPEX Probe

Hong Kong’s Financial Secretary, Paul Chan Mo-po, has asserted that stringent regulation of virtual assets is crucial for market development, defending the region’s new licensing regime in the wake of JPEX‘s collapse earlier this year. The unlicensed cryptocurrency exchange is currently under investigation, but Chan… Read More

Hong Kong Digital Bank, ZA Bank Supports OKX with Operating Account, as Hong Kong Aims to Become Crypto Hub

Hong Kong is showing its support for digital assets today as ZA Bank, one of a handful of regulated digital banks in the jurisdiction, has announced support for crypto exchange OKX Hong Kong. ZA Bank has issued a statement indicating they will provide an operating… Read More

Blockchain Firm Neo, Web3Labs to Drive DLT Innovation in Hong Kong via Accelerator Program

Neo contributes almost $8M HKD to nurture start-up projects and foster the development of Hong Kong’s Web3 industry. Winners from Neo’s APAC Hackathon will join “an accelerator program alongside candidates from Hong Kong’s leading Web3 developer base.” Neo, the open-source, community-driven blockchain platform where developers… Read More

Hong Kong: Blockchain Firm SlowMist Conducts Security Audits for HashKey Pro Exchange, Other Crypto Platforms

During the 2019 Fintech Week, the Hong Kong Securities and Futures Commission (HKSFC) reportedly demonstrated a stern regulatory stance towards cryptocurrency through its publications “Position Paper: Regulation of Virtual Asset Trading Platforms” and “Warning on Virtual Asset Futures Contracts,” emphasizing strict licensure and professional investor… Read More

Digital Assets Report: China and Hong Kong Show Unique Breakdowns in Most-Used Crypto Platform Types

Hong Kong sees a larger share of transaction volume “coming in large institutional transactions of $10 million or more compared to other countries in the region — notably mainland China,” according to an update from Chainalysis. On the other end of the spectrum is South… Read More

Hong Kong’s Web3-focused Titan Fund Launches with $100M in Initial Close

Hong Kong’s push towards blockchain enabled Web3 innovation received strong tailwind through a new fund that CMCC Global launched this week. CMCC Global, one of Asia’s earliest venture capital investors “to entirely focus on blockchain technology and Web3 innovation, announced the launch of a venture… Read More

Hong Kong: HKIMR Joins the ASEAN+3 Finance Think-Tank Network

The Hong Kong Institute for Monetary and Financial Research (HKIMR), the research arm of the Hong Kong Academy of Finance (AoF) has officially joined the ASEAN+3 Finance Think-Tank Network (AFTN) as a founding member institution. The ASEAN+3 Finance Think-Tank Network is a coalition established to… Read More

Hong Kong Monetary Trends: Deposits Grow, Loans Shrink in August

The Hong Kong Monetary Authority (HKMA) has revealed in its recent publication on 29 September that there has been a slight increment in total deposits with authorized institutions by 0.6% in August 2023. The deposits consisted of Hong Kong dollar deposits, which saw an increase… Read More

Hong Kong Survey Shows Shifts to Investments in Money Market Funds

A survey jointly conducted by the Hong Kong Monetary Authority (HKMA) and the Securities and Futures Commission (SFC) showed money market funds were the top-selling collective investment schemes (CIS) as reported by the city’s licensed corporations (LCs) in 2022. It accounted for 61% of the… Read More

Hackers Steal $200m from Hong Kong Crypto Firm Mixin

Hong Kong-based crypto firm Mixin announced that hackers have managed to steal around $200 million from its database. In a post on social media platform X, the company, which describes itself as a network for transferring digital assets, said the database of Mixin Network’s cloud… Read More

HKMA Introduces Green Fintech Competition to Boost Hong Kong’s Banking Industry

The Hong Kong Monetary Authority (HKMA) unveiled the Green Fintech Competition today, aiming to foster the assimilation of green fintech solutions within the city’s banking realm. This competition aligns with HKMA’s commitment to buttressing the banking sector’s adaptability to climate risk. Green fintech enterprises, both… Read More

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