Tagged: hong kong

Standard Charter’s Virtual Bank Mox Update: Now Has 80,000 Customers & Over 1.5 Million Transactions Been Made With Mox Card

Mox, Standard Chartered virtual bang that is based in Hong Kong, announced on Monday its latest progress update. The virtual bank launched in September 2020 and as previously reported, it was created in partnership with PCCW, HKT, and Trip.com “With Mox, opening an account is… Read More

Stock Trading in Hong Kong has Increased Significantly Compared to Volumes Reported Recently by London Stock Exchange

Stock trading volumes in Hong Kong have reportedly increased by as much as 4x compared to those on London’s main stock exchange, as large tech stocks continue to attract investors from other jurisdictions. Some have referred to Hong Kong’s stock trading as the “Nasdaq of… Read More

Hong Kong Financial Services Sector to Work on Regtech, Trade Financing, Payments, Robo-Advisory Products with New Initiatives

The Financial Services and the Treasury Bureau (FSTB) in Hong Kong had announced last month that the Fintech Proof-of-Concept Subsidy Scheme (PoC Scheme) will be opening for applications from February 26, 2021. According to a release, the PoC Scheme has been introduced to encourage traditional… Read More

Global Digital Finance Broadly Agrees with Hong Kong Proposal to Regulate VASPs but Worries that Blocking Retail from Crypto is Wrong Move

Last November, Hong Kong kicked off a consultation pertaining to anti-money laundering (AML) and counter finance terrorist (CFT) regulation that will impact cryptocurrency exchanges or virtual asset service providers (VASPs). The deadline for comments delivered to the Hong Kong Financial Services and the Treasury Bureau (FTSB),… Read More

Diginex Announces New Partnership With GSR Markets

Diginex Limited, a digital assets financial services company, announced on Monday it has formed a new partnership with GSR Markets (GSR), a global market maker for cryptocurrency spot and crypto derivative markets. According to Diginex, GSR will become a shareholder in Diginex and one of the… Read More

Hong Kong May Lead China’s Financial Integration Efforts with Major World Economies and Promote Digital Yuan Adoption

Hong Kong might lead China’s financial integration efforts with other countries and could also help promote the adoption of the digital yuan, according to government officials. But regardless of what Hong Kong actually does to fulfill its role, the special administrative region of the People’s… Read More

Hong Kong Monetary Authority Releases Regtech Adoption Report for Improving AML/CFT Activities

A recent report released by the Hong Kong Monetary Authority (HKMA) has outlined various case studies and insights from banking institutions that have implemented different technologies to improve the overall efficiency and effectiveness of their AML/CFT requirements. The HKMA’s report identifies key opportunities that regulatory technology… Read More

Hong Kong Crypto Financing Provider Amber Group Added Yield Boost on Investing App

Amber Group, a Hong Kong-based crypto finance service provider, announced on Wednesday it is launching a new yield-enhancement product called ‘Yield Boost’ in the Amber App. According to Amber, Yield Boost will allow users to monetize their market view on major crypto assets and earn… Read More

Hong Kong Fintech Neat Rolls Out New Visa Card

  Neat, a digital bank group based in Hong Kong, announced on Tuesday it has become a member of Visa and rolled out its new Neat Visa card. This announcement comes less than six months after Neat secured an additional $4 million extension of its… Read More

Hong Kong Monetary Authority Launches Digital ID Service iAM Smart, Calls Service Key Milestone in Fintech Development

The Hong Kong Monetary Authority (HKMA) has announced the launch of iAM Smart (internet Access by Mobile in a Smart way), a digital identity service that enables users to leverage the biometrics in their smartphone to act as proof of identity for all types of… Read More

First Hong Kong Regulated Digital Asset Exchange Halts XRP Trading Following SEC Enforcement Action [U] – Other Exchanges Cancel XRP

Just last week, OSL became the first licensed digital asset trading platform in Hong Kong. It received approval by the Securities and Futures Commission (SFC) to conduct  Type 1 (dealing in securities) and Type 7 (automated trading service -ATS) regulated activities and claims to be… Read More

HKMA Speech: Hong Kong Can Help Chinese Fintechs Go Global

In a speech this week delivered at the China Fintech Global Summit in Shenzen, Liu Yingbin, Senior Assistant President, Hong Kong Monetary Authority (HKMA) said that Hong Kong can help mainland Chinese Fintechs go global. Yingbin touted Hong Kong’s Fintech ecosystem which has emerged as… Read More

Hong Kong’s Fintech focused Index, which Quantifies Sentiment on Industry Developments, Falls to Historic Low Following COVID-19 Outbreak

The Hong Kong Fintech Buzz Index (FBI), a quarterly index that aims to represent a “quantified sentiment” of the local Fintech-focused news updates in local Chinese news media, fell to an all-time low of 93.5. The index was calculated by analyzing 1,299 news articles that… Read More

OneConnect, the Fintech Division of Ping An Insurance, to Expand Operations into Malaysian Markets

Ping An’s technology division OneConnect will be expanding its operations into Malaysian markets. OneConnect is notably among the few companies that have acquired a digital banking license from the Hong Kong Monetary Authority. OneConnect is also supporting the BEYOND consortium (in Singapore) as a key… Read More

Fintech Firm Sleek Secures $4 Million in Capital to Develop Products for Corporate Services Sector

Fintech firm Sleek has reportedly acquired $4 million in VC funding in order to develop products for the corporate services sector. Sleek’s investment round was led by SEEDS Capital, the investment division of Enterprise Singapore. Other individuals and organizations also took part in the round… Read More

The China Construction Bank Partners with Fusang to Issue $3 Billion of Debt Using Blockchain Tech

Fusang, a  Labuan-based Fintech, has partnered with the China Construction Bank to issue $3 billion worth of bonds utilizing blockchain technology. According to Fusang: “The Issuer is a special purpose vehicle and its principal activity is to establish the commercial paper programme of up to… Read More

Ant Group Is Reportedly Moving Forward with Digital Banking License Application in Singapore, Despite Halted IPO Plans

Ant Group, which was previously known as Ant Financial, the world’s most valuable Fintech firm and a subsidiary of the Alibaba Group Holding (NYSE:BABA), will be moving forward with its application for a digital banking license in Singapore. This, despite the Fintech giant’s (potential) record… Read More

Broctagon CEO on Hong Kong’s Consultation on Regulating Crypto: A Positive for the Industry

Yesterday, the Hong Kong Government announced a consultation to enlist public opinion on legislative proposals designed to enhance anti-money laundering and counter-terrorist financing (AML/CTF) regulation in Hong Kong. Cryptoassets (digital assets) were included in the consultation with the introduction of a licensing regime for virtual… Read More

Hong Kong Government Launches Consultation on Regulating Cryptoassets

The Hong Kong Government has launched a consultation to gauge public opinion on legislative proposals designed to enhance anti-money laundering and counter-terrorist financing (AML/CTF) regulation in Hong Kong. The targets include cryptoassets (digital assets) with the introduction of a licensing regime for virtual asset services… Read More

Hong Kong’s Statrys, a Digital Payment Services Provider, Secures $5 Million to Expand Operations into Southeast Asia

Hong Kong-based Statrys, a digital payment services provider, has reportedly secured $5 million through an investment round from an angel investor. Established in 2018, Statrys offers digital payment solutions for SMEs and startups. The Fintech firm noted that its platform makes it a lot easier… Read More

Send this to a friend