Tagged: hong kong

June 25, 2019 @ 12:15 pm By JD Alois  |  

The Hong Kong Monetary Authority (HKMA) has posted a deck on GFin or the Global Financial Innovation Network. Hong Kong has emerged as a leading Fintech hub having embraced innovation in financial services. GFiN was launched by the UK Financial Conduct Authority (FCA) a bit… Read More

June 24, 2019 @ 8:30 pm By JD Alois  |  

TrustToken is issuing a stablecoin backed by Hong Kong dollars. TrustToken says this is the first stablecoin pegged to an Asian currency. TrueHKD will be pegged one-to-to one with the Hong Kong dollar that is currently worth about USD $0.13. TrustToken has partnered with Legacy… Read More

June 17, 2019 @ 6:25 pm By JD Alois  |  

Hong Kong’s First Regulated Investment Crowdfunding Platform. In April of this year, AngelHub became the first investment crowdfunding platform to receive a license from a Securities and Futures Commission (SFC) in Hong Kong. In the past couple of years, Hong Kong has moved quickly to… Read More

June 17, 2019 @ 8:57 am By JD Alois  |  

Security token issuance platform Polymath has formed a partnership with Regtech Blockpass. According to a release, Hong Kong-based Blockpass will now provide client onboarding services surrounding customer identification or KYC. Globally, having a solid KYC process is vital for any digital asset issuer. The two… Read More

June 17, 2019 @ 8:02 am By Samantha Hurst  |  

Online payment processing provider Allied Wallet announced on Monday it has acquired Epayment, a Hong Kong-based fintech. The acquisition comes just a couple of weeks after Allied Wallet reported it has increased merchant revenue by as much as 60% for some merchants with its new… Read More

June 8, 2019 @ 5:40 pm By JD Alois  |  

Invest Hong Kong Appoints New Head of Fintech King Leung has been appointed Head of Fintech at InvestHK which took effect in early May. Leung will lead a specialist Fintech team with the objective of attracting top innovativeFfintech companies, entrepreneurs, investors, accelerators and R&D institutions… Read More

June 1, 2019 @ 8:00 pm By Xu Gao  |  

PBOC Set Up Deposit Insurance Fund Management Company On May 24th, the People’s Bank of China (PBOC), China’s central bank, set up a deposit insurance fund management company after it took a rare move to take over Inner Mongolia-based Baoshang Bank in response to its… Read More

May 29, 2019 @ 8:29 am By Samantha Hurst  |  

Hong Kong-based cryptocurrency platform Crypto.com announced on Wednesday it has listed NEO, as well as Bitcoin Cash (BTC) on its Wallet & Card App. According to Crypto.com, the addition of the currencies brings the total amount of the cryptos on its site to twenty-two.  NEO… Read More

May 27, 2019 @ 9:52 pm By Cali Haan  |  

Ex parte orders filed against the Binance crypto trading platforms by a leg of the VC firm Sequoia Capital have backfired as a judge’s staying of the orders have ushered in a countersuit against Sequoia brought by Binance CEO Changing Zhao, also known as “CZ,”… Read More

May 14, 2019 @ 7:42 am By JD Alois  |  

The Hong Kong Monetary Authority (HKMA) and the Bank of Thailand (BOT) have signed a Memorandum of Understanding (MoU) to collaborate on Fintech innovation between the two regulatory authorities. The MoU was signed between Norman Chan, Chief Executive of the HKMA, and Veerathai Santiprabhob, Governor… Read More

May 9, 2019 @ 8:33 am By Samantha Hurst  |  

The Hong Kong Monetary Authority (HKMA) has issued four more virtual banking licenses. The newly minted digital banks include: Ant SME Services (Hong Kong) Limited, Infinium Limited, Insight Fintech HK Limited, and Ping An OneConnect Company Limited. HKMA said that the four newly licensed virtual… Read More

April 29, 2019 @ 8:30 am By JD Alois  |  

DIT Fintech Bridge As London Fintech Week kicks off, the Department for International Trade (DIT), in partnership with Her Majesty’s Treasury (HMT), have announced new programs to boost Fintech innovation. According to a release from DIT, the UK will be building upon their Fintech Bridge… Read More

April 29, 2019 @ 7:24 am By JD Alois  |  

AngelHub has received regulatory approval, including two separate securities licenses, according to a report in the SCMP. Based in Hong Kong and part of the burgeoning Fintech scene, AngelHub is the first platform to receive such approval. AngelHub is the creation of the founders of… Read More

April 23, 2019 @ 8:03 am By JD Alois  |  

The Asian Summit on Security Tokenization Bringing operational efficiency and liquidity to capital markets. This event is part of our innovative global series of high-level events designed to bring together industry leaders with total focus on the realisation of the security token ecosystem, bringing together,… Read More

April 17, 2019 @ 4:06 pm By Samantha Hurst  |  

Hong Kong-based cryptocurrency platform Crypto.com announced on Wednesday it has listed Basic Attention Token (BAT), Ether (ETH), Litecoin (LTC), Binance Coin (BNB), XRP, Enjin Coin (ENJ), as well as Crypto.com’s own MCO and CRO tokens. Crypto.com reported: “The Basic Attention Token (BAT) aims to improve… Read More

April 13, 2019 @ 4:00 pm By Xu Gao  |  

China Implements First National Standard for Insurance Sector On April 11th, China has implemented its first national standard for the insurance industry. The national standard incorporates 817 entries of professional terms, serving as a fundamental standard for various terms in the insurance sector, according to… Read More

April 11, 2019 @ 9:06 pm By Samantha Hurst  |  

gini, a Hong Kong-based fintech that specializes in smart spending-tracking, announced on Thursday it raised $1.6 million through its seed funding round, which involved participation from Mountain Partners, Treuenburg Group, Global Technology Alliance (GTA), Dr. Cornelius Boersch, the European Investment Fund (backed by EIB), and Hong Kong-based… Read More

April 10, 2019 @ 10:40 am By JD Alois  |  

Welab Digital Limited (WDL) has been approved by the Hong Kong Monetary Authority (HKMA) to receive a virtual banking license. This is the 4th license for a virtual bank which is now approved to operate in Hong Kong since a consultation on digital banking took… Read More

April 9, 2019 @ 8:19 am By JD Alois  |  

OurCrowd portfolio company, Hong Kong-based Klook, has raised $425 million in funding in a Series D round led by Softbank Vision Fund. Klook is a travel activity and services booking platform. Klook said it raised $225 million in Series D+ funding increasing the company’s total… Read More

April 6, 2019 @ 12:37 pm By JD Alois  |  

Late last month, the Hong Kong Monetary Authority (HKMA) announced the issuance of the very first virtual banking licenses. While many jurisdictions around the world are pursuing policies that encourage Fintech innovation and digital banking what was unique about the HKMA’s announcement was the rapidity… Read More