Tagged: hong kong

Digital Asset Firm Hex Trust Recieves Funding from Morgan Creek in Advance of Series C Round

Digital asset firm Hex Trust has received “strategic” funding from Morgan Creek Digital in advance of a forthcoming Series C funding round. Other investors were said to also have participated in the funding. Hex did not disclose the details of the investment but shared that… Read More

Digital Banking Provider Planto and SCB to Enhance Financial Services for Hong Kong’s SMEs

Shanghai Commercial Bank (SCB) and Planto, a digital banking solution provider headquartered in Hong Kong, have joined forces in order to leverage fintech to enhance banking experiences for SMEs operating in Hong Kong. Through this collab, SCB and Planto have developed a suite of e-banking… Read More

Digital Wealth Advisory Platform Endowus Increases Total Funding to $110M+

Endowus, Asia’s digital wealth advisory platform has increased its total funding to over $110 million. As noted in the announcement, an additional raise of $17.5 million follows from their $35 million raise last year to take the total for this round to $52.5M. New investors… Read More

Digital Banking: Hong Kong’s WeLab Bank Reports Steady Business Growth

WeLab Bank announced its achievement of first-time breakeven in Dec of 2024 – which is just over 4 years after its establishment. This milestone exemplifies WeLab Bank’s ability to achieve profitability “at a pace faster than anticipated.” As mentioned in the announcement, the accomplishment was… Read More

IMF Endorses Hong Kong’s Financial Hub Status and Fiscal Strategy

Following its 2024 Article IV Consultation with the Hong Kong Special Administrative Region (HKSAR), the International Monetary Fund (IMF) has recognized Hong Kong’s strong standing as an international financial center and endorsed its pathway towards fiscal consolidation. This affirmation came via a concluding statement released… Read More

Hong Kong Exchanges and Clearing Limited (HKEX) Reports Steady Progress in 2024

Hong Kong Exchanges and Clearing Limited (HKEX) claims that it had a solid 2024, marked by new leadership, greater connectivity and engagement with international markets, the launch of multi-year infrastructure enhancement programs, and fresh trading records that “underscore the market’s vibrancy and resilience.” HKEX introduced… Read More

Asia’s WeLab Bank Focused on Becoming Profitable Digital Banking Platform in 2025, Reports 70 Million Users

WeLab noted that in 2024, their regional expansion strategy has achieved considerable success, with the group now serving nearly 70 million users across Hong Kong, Mainland China, and Indonesia. According to the update from WeLab, this momentum propels them closer to their ambitious goal of… Read More

Hong Kong Reportedly Plans to Offer Crypto Tax Exemption for Hedge Funds, Local Family Offices

Hong Kong is reportedly planning to waive taxes on investment gains made from cryptocurrencies as well as other alternative assets for hedge funds, private equity funds and various family offices as the city-state aims to improve its attractiveness as a wealth management center. In a… Read More

SOLOWIN Partners with Zodia Custody to Facilitate Hong Kong’s Digital Assets Ecosystem

Hong Kong City

SOLOWIN HOLDINGS (Nasdaq: SWIN), a financial services firm providing high-net-worth and institutional investors with solutions across traditional and virtual assets, announced its partnership with Zodia Custody, a digital asset custodian backed by Standard Chartered, which has been selected by NASDAQ as a new core custodian… Read More

Hong Kong Exchanges and Clearing to Digitize ETP Servicing, Leveraging DLT, Smart Contracts

Hong Kong Exchanges and Clearing Ltd (HKEX) is pleased to announce plans to digitize and automate the in-kind creation and redemption process for relevant exchange-traded products (ETP) in 2025 through the adoption of a “web-based platform, subject to technical readiness and regulatory approval.” This platform… Read More

Mainland Fintechs Pick Hong Kong as ASEAN Launchpad

Fintech companies from mainland China are increasingly choosing Hong Kong as the base for their headquarters, attracted by the city’s capital accessibility and a strong talent pool. These firms are leveraging Hong Kong’s strategic position to expand their operations into ASEAN markets. KN Group, a… Read More

Hong Kong’s HKEX to Establish Riyadh Office to Strengthen Middle East Presence

Hong Kong Exchanges and Clearing Limited (HKEX) is pleased to announce that it plans to open an office in Riyadh in 2025. The office will now aim to strengthen HKEX’s Middle East presence as the Group looks to promote connectivity between China and the Gulf… Read More

Saudi and Hong Kong Strengthen Economic Link with New $1bn Joint Investment Fund

The Public Investment Fund (PIF) and the Hong Kong Monetary Authority (HKMA) have signed a memorandum of understanding (MoU) at the Future Investment Initiative (FII) 8th Edition in Riyadh to jointly anchor a proposed $1 billion investment fund. The initiative, announced on October 31, is… Read More

Stablecoin Issuer Circle and HKT to Explore Customer Loyalty Solution in Hong Kong

Circle, a global digital financial technology firm, has signed a Memorandum of Understanding (MOU) with HKT, a technology, and telecommunication firm, in order to explore a potential collaboration in developing blockchain-based customer loyalty solutions for merchants in Hong Kong. Leveraging Circle’s expertise in Web3 Services… Read More

HKMA Launches Data-Sharing Platform for Banks, Tech Firms

The Hong Kong Monetary Authority (HKMA) has launched the IADS Developer Platform, a collaborative venture with the Hong Kong Science and Technology Parks Corporation (HKSTP) aimed at fostering innovation between banks and technology firms. This new platform, part of the Interbank Account Data Sharing (IADS)… Read More

SEC Commissioner Mark Uyeda Says Alternative Assets Contribute Greatly to Global Economy, Includes Private Securities, Crypto, More

 SEC Commissioner Mark Uyeda delivered a speech earlier today in Hong Kong where he lauded the availability of alternative assets as contributing significantly to our global economies. These alternative assets include private securities, both debt and equity, as well as crypto assets. Commissioner Uyeda explains:… Read More

Global Fintech Adyen Partners with Hong Kong’s F&B SaaS Provider Aigens

Adyen (AMS: ADYEN), the financial platform for global companies, announced its partnership with Aigens, a Hong Kong-based food and beverage (F&B) software-as-a-service (SaaS) provider. Via this collaboration, Aigens incorporates Adyen’s payment capabilities into its Aigens Pay offering, helping restaurants in Hong Kong and Singapore optimize their front- and… Read More

Hong Kong Unveils Sustainable Finance Action Agenda to Strengthen Its Green Finance Leadership

The Hong Kong Monetary Authority (HKMA) has launched its Sustainable Finance Action Agenda, outlining a comprehensive strategy to reinforce Hong Kong’s standing as a leading sustainable finance hub in the region. The initiative aims to support the sustainable development of Asia and beyond by setting… Read More

Hong Kong Implements New Financing Measures for SMEs

The Hong Kong Monetary Authority (HKMA), in collaboration with the banking sector, announced several measures to support small and medium-sized enterprises (SMEs) in their development, upgrade, and transformation. Aimed at enhancing competitiveness and productivity, these initiatives come as SMEs navigate changing market conditions. Since launching… Read More

HKMA Introduces Measures to Support Hong Kong SMEs Development and Transformation

HKMA has recently introduced several different strategic measures to support SMEs’ development, upgrade and transformation. The Hong Kong Monetary Authority (HKMA), together with the banking sector, introduced measures in order to further support, via financing as well as banking products and services, the “continuous development”… Read More

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