Tagged: hong kong

Korea Mobile App Payvil Forms New Patnership with Hong Kong’s TNG FinTech Group to Provide Global Payment Services

Emolize Co., Ltd, a Korean cross-border mobile payment platform, announced on Wednesday it has expanded its global payment services through its mobile app, Payvil, to Hong Kong and Thailand in September 2019, with further expansion reaching about 16 countries by the end of 2019. The… Read More

Hong Kong’s Securities and Futures Commission Updates Digital Asset Regulations

Hong Kong’s securities regulator, the Securities and Futures Commission (SFC), has released an updated regulatory framework for digital asset fund managers. The SFC posted the guidelines on its official website on October 4. SFC’s 37-page document, titled “Proforma Terms and Conditions for Licensed Corporations which… Read More

Crypto.com Announces Launch of Chain Public Testnet Alpha Version

Hong Kong-based cryptocurrency platform Crypto.com announced on Tuesday the alpha version release of the Crypto.com Chain public testnet. According to Crypto.com, the launch comes ahead of schedule and 10 months after the announcement of the Crypto.com Chain, which is a high-performing blockchain powering the QR… Read More

Hong Kong-based Investment Platform BnkToTheFuture to Facilitate Security Token Offerings, Invests in UK based Blockchain Consultancy Diacle

Hong Kong-based fundraising platform BnkToTheFuture is planning to facilitate security token offerings (STOs). The move will be facilitated by a strategic investment in Diacle. Founded in 2013, Diacle is an appointed representative of Met Facilities LLP, which is authorised and regulated by the UK Financial… Read More

Cryptocurrency Exchange Huobi Plans to Acquire Public Hong Kong Firm in $77 Million Deal

Digital asset exchange Huobi appears to be pursuing a reverse initial public offering (IPO), according to a document shared with the Hong Kong Stock Exchange (HKEX). Hong Kong-listed electronics firm Pantronics Holdings Limited, which was acquired by Huobi in August 2018, will be changing its… Read More

First Hong Kong Licensed Crowdfunding Platform AngelHub, plus Sister Company WHub, Raises $3 Million in Funding

AngelHub and WHub have closed on a USD $3 million led by Kharis Capital and Hong Kong Fintech Unicorn TNG Fintech Group. AngelHub and WHub were co-founded by Karena Belin and Karen Contet Farzam. Daniel Grossmann, co-founder of Kharis Capital will be joining the board… Read More

Chinese Electronics Giant Xiaomi Is Expanding Rapidly into Global Mobile Phone Markets

Beijing-headquartered mobile technology and software firm Xiaomi has been developing premium smartphones and selling them at competitive prices. Referred to as the “Apple of China,” the consumer electronics company recently penetrated India’s consumer markets. Xiaomi’s smartphone has become India’s most popular mobile device, according to… Read More

Report: Fintech Ping An May Pursue Singapore Digital Bank License After Receipt of Hong Kong Virtual Bank Approval

Late last month, the Monetary Authority of Singapore (MAS) announced it has begun accepting applications for digital bank licenses. The new banking licenses are only for aspiring non-bank Fintechs. MAS leadership explained that virtual banks will help assure the banking sector remains resilient and competitive… Read More

Insurtech ZhongAn Online Reports a Profit, Virtual Bank ZA Bank Will Boost Opportunities

ZhongAn Online (6060:HK), a Honk Kong-listed Insurtech, has reported a profit for the first 6 months of 2019 – the first time in the company’s history, according to a company release. As of 30 June 2019, ZhongAn Online said it provided services to 348 million… Read More

Cryptocurrency Promoted at Hong Kong Protests

A cryptocurrency ATM company gave out free water and umbrellas to protestors in Hong Kong July 1st, and crypto trading platforms have been, “providing a way to off-ramp from HKD…and advocating for transactional privacy,” as resistance to recent power assertions by China enters its 11th week. According… Read More

Singapore Retail Banking Survey: 65% of Singapore Customers Interested in Digital Banking

According to a recent survey, in Singapore digital banking has some pent up demand. JD Power has published a brief retail banking satisfaction study and, according to their numbers, 65% of consumers are interested in opening digital bank accounts. This is an increase from the… Read More

ZhongAn and KPMG Partner on Insurtech Report: “New Insurance” is the Future

ZhongAn Fintech Institute and KPMG China have joined together to publish a report, Insurtech: Infrastructure for New Insurance, on the fast emerging Insurtech marketplace. ZhongAn is an online-only Insurtech firm backed by some of the biggest names in China tech. ZhongAn trades on the Hong… Read More

Citi Hong Kong Announces New Digital Payment Solution That Enables Credit Cardholders to Settle Big Ticket Payments on Citi Mobile App

Citi Hong Kong announced last week the launch of Citi PayAll, a payment solution that enables Citibank credit cardholders to settle one-off or recurring payments on the Citi Mobile App using their credit card while earning Points at the same time. According to Citi Hong… Read More

As China’s Peer to Peer Lending Industry Continues to Contract, Giant Lufax Exits this Sector of Fintech

Not too long ago, the Chinese peer to peer lending industry was growing at a breakneck speed and the largest online lending market in the world. This sector of Fintech was the enormous in China as big names and aspiring platforms moved quickly to fill… Read More

Suspended Sentence for Hong Kong “Money from the Sky” Crypto Publicity Stunt

Wong Ching-Kit, a flashy 25-year old cryptocurrency promoter who tried to drum up business by throwing at least $6000 in HK $100 bills off a high-rise in one of Hong Kong’s poorest districts, has received a sentence of 10-day’s imprisonment suspended for 2 years, South… Read More

Crypto.com Now Shipping MCO Visa Card to U.S. Customers

Hong Kong-based cryptocurrency platform Crypto.com announced earlier this week it is now shipping its MCO Visa Cards to customers in the U.S.  According to Crypto.com, the MCO Visa Card is a prepaid card that features high-end metal cards with no annual or monthly fees, up… Read More

Insurtech ZhongAn Online Shuffles Executive Leadership

ZhongAn Online P & C Insurance Co. Ltd. (6060:HK), a Chinese Insurtech backed by Alibaba founder Jack Ma and Tencent founder Pony Ma, has announced multiple changes to its executive leadership. ZhongAn went public in Hong Kong in 2017. At that time, it was Hong… Read More

SPAC Deal Said to Create Largest Publicly Traded Blockchain Company in US

Special purpose acquisition company (SPAC) 8i Enterprises Acquisition Corp. (NASDAQ: JFK) has entered into a definitive share exchange agreement with Diginex Limited. The deal claims to engender the largest publicly traded blockchain company in the US – once it closes. JFK is a BVI company… Read More

The Hong Kong Monetary Authority Forms Fintech Partnership with the French Autorité de Contrôle Prudentiel et de Résolution

The Hong Kong Monetary Authority (HKMA) and Autorité de Contrôle Prudentiel et de Résolution (ACPR) in France have signed a Memorandum of Understanding (MoU) to “enhance collaboration between the two authorities in supporting Fintech innovation. The French ACPR is a supervisory authority attached to the… Read More

Bank for International Settlements Announces New Fintech Hub For Central Banks

Fintech

The Board of the Bank for International Settlements (BIS) announced on Sunday they have approved the establishment of a BIS Innovation Hub to foster international collaboration on fintech within the central banking community complementing the already well-established cooperation within the existing committees. The Board reported… Read More

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