Tagged: hong kong

Huobi Gains Money Services Business Approval for USA

USA Approved

Huobi Group has received approval to operate as a Money Services Business (MSB) in the United States, according to a statement by the company. Huobi is a public firm with its shares trading in Hong Kong (HKEX:Huobi Tech). Huobi Group was founded in 2013 and… Read More

Virtual Banking: Hong Kong’s WeLab Bank to Offer Digital Wealth Advisory Solutions

Hong Kong Money Sparkle AI

WeLab Bank, the virtual bank dedicated to “curating intelligent banking experience,” has reportedly become the “first” digital bank in Hong Kong licensed “to offer digital wealth advisory services.” Having obtained the Type 1 (Dealing in securities) and Type 4 (Advising on securities) licenses from the… Read More

Insurtech: Hong Kong’s OneDegree, Munich Re to Introduce a Digital Asset Insurance Product

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Hong Kong’s insurance firm OneDegree recently revealed that it has agreed to a 3-year  partnership with Munich Re in order to introduce OneInfinity, a digital asset insurance product. As noted in the update, OneInfinity is an insurance and tech product offering developed specifically for digital… Read More

Southeast Asia’s Digital Wealth Manager StashAway Appoints John Tsang Chun-wah to Advisory Committee

Asia Pacific at Night

Southeast Asia’s digital wealth management platform StashAway recently revealed that John Tsang Chun-wah, Hong Kong’s former Financial Secretary, has officially joined StashAway’s advisory committee. Tsang was reportedly the longest-serving Financial Secretary as he had occupied the position from 2007 until 2017. As mentioned in the… Read More

Digital Banking: ZA Tech Now the Latest Investor in Aladin Bank – Indonesia’s Sharia Virtual Bank

Hong Kong Money Sparkle AI

Hong Kong – ZA Tech Global Limited, a Singaporean tech venture founded by ZA International and backed by Softbank’s Vision Fund 1, has become “the latest strategic partner to collaborate with Aladin Bank as an investor and a business partner, and is fully committed to… Read More

Digital Banking: ZA Bank and Generali Hong Kong Announce New Partnership

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Generali Hong Kong and Hong Kong’s “No.1” virtual bank – ZA Bank recently announced the commencement of their bancassurance partnership. This partnership is “the first of its kind in Hong Kong between a well-established global insurer and a leading virtual bank in the city, with… Read More

Animoca Brands Takes Rare Industry Step to Ban Russian Involvement

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Animoca Brands, a blockchain gaming powerhouse is responding to the war in Ukraine but prohibiting Russian involvement with its business and properties, according to a Bloomberg article published today. A member of the Financial Times High Growth Companies Asia-Pacific 2021 list, Animoca Brands develops digital… Read More

Hong Kong Monetary Authority Announces Enhancements to SME Financing Guarantee Scheme

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The Hong Kong Monetary Authority (HKMA) notes that they have made enhancements to the SME Financing Guarantee Scheme. The Financial Secretary confirmed in the 2022-23 Budget today (23 February) that the application period for the 80% Guarantee Product, the 90% Guarantee Product and the Special… Read More

Digital Identity Provider ForgeRock Continues its Asia Expansion

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ForgeRock (NYSE: FORG), an international digital identity provider, recently announced its continued expansion across Asia and has made ForgeRock Identity Cloud “available locally from two new data centers in Indonesia and Hong Kong.” As mentioned in the update, this move expands ForgeRock’s Identity Cloud into… Read More

Hong Kong’s Cyberport Now Home to Almost 60 Wealthtech Firms Providing Diverse Solutions

Hong Kong Money Sparkle AI

According to a Securities and Futures Commission (SFC) report, Hong Kong’s asset and wealth management sectors registered an increase in AUM of more than 20% YoY, to HKD 34.9 trillion, as of end 2020. As one of the area’s most prominent wealth management hubs, Hong… Read More

Digital Banking: ZA Bank becomes Hong Kong’s First Virtual Bank to Receive Type 1 SFC License

Hong Kong Money Sparkle AI

Hong Kong’s leading virtual bank ZA Bank has reportedly expanded its footprint into investment business as the first local digital-only bank to be “licensed by the Securities and Futures Commission (SFC) for Type 1 regulated activity (dealing in securities).” As mentioned in an update shared… Read More

Asia United Bank and Wallyt to Support Mastercard Acceptance via QR Codes in the Philippines

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Asia United Bank (AUB), one of the fastest-growing publicly listed universal banks, has teamed up with Wallyt, a virtual banking solution provider, in order to offer a card payment acceptance solution for merchants though a card QR code or link. Wallyt is a Hong Kong-headquartered… Read More

E-Commerce: Airwallex Offers Global Accounts, Affordable Online Payments, Borderless Cards

Global Money Cash

Airwallex notes that the world of e-commerce is “changing rapidly.” As consumers continue to drift away from the high street into the “outstretched arms” of digital commerce marketers, brands are “upping their game.” Airwallex writes in a report that we should no longer just show… Read More

Tech Startup Bloom Partners with Visa to Offer Spending Rewards to Hong Kong Clients

steven wei Hong Kong Temple Street Market Small Version

Local tech startup Bloom has unveiled a new collaboration with Visa (NYSE: V) to provide extra spending rewards for Visa card users residing in Hong Kong. As noted in an update shared with CI, the tie-up should help with accelerating Visa’s journey in connecting with… Read More

Coinweb Raises $4 Million in Strategic Funding Round

Blockchain

Coinweb has raised $4 million in funding. Coinweb is a layer-2 cross-chain computation platform that aims to solve some of the most critical problems that currently exist within distributed ledger technology. The strategic funding round includes the participation of KuCoin Labs, Morningstar Ventures, Panda Capital,… Read More

Insurtech: AIA Hong Kong Introduces Scenario-based Merchant Goods Protection ‘Care For You 24’ for Bloom members

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Hong Kong tech startup, Bloom, has announced a collaboration with AIA Hong Kong  in order to launch “Care for You 24” – AIA’s first scenario-based protection that “revolves around customers’ lifestyle touchpoints and scenarios – to offer instant cover for their purchases.” “Care for You… Read More

Fintech MODIFI Acquires $145M to Support Global SME Trade Among Supply Chain Challenges

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Global Fintech firm MODIFI has announced $145 million in debt financing with existing bank partners Silicon Valley Bank and Solarisbank. The proceeds will be channeled towards addressing rising demand and help more SMEs with trading internationally on MODIFI’s digital platform. The COVID-19 outbreak has “negatively… Read More

Asian Fintech Platform WeLab Announces Acquisition of PT Bank Jasa Jakarta

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WeLab, a pan-Asian Fintech platform, has announced the acquisition of PT Bank Jasa Jakarta (BJJ), which is a commercial banking institution based in Indonesia, with plans to introduce its second digital bank in Asia “further to the successful launch of WeLab Bank in Hong Kong.”… Read More

ZA International and Airport Authority Hong Kong Form Partnership to Support Travel Experience Digitalization

Hong Kong International Airport

ZA International and Airport Authority Hong Kong (AAHK) have unveiled an easily accessible travel insurance to “create a seamless and frictionless travel experience through digital acceleration.” ZA International and AAHK seek to “leverage innovative technology and deep experience in passenger flow management” to achieve the… Read More

Rapyd Acquires Hong Kong’s Neat to Expand SMB Trade Capabilities Across Asia and Internationally

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Rapyd, an international Fintech-as-a-Service firm, has agreed to acquire Hong Kong-based Neat, a cross-border trade enabling platform for SMBs and startups. Neat offers full company incorporation, business accounts, global payment collection and disbursements, “as well as credit card-based capital expansion services.” As noted in the… Read More

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