Tagged: hong kong

October 5, 2023 @ 10:21 pm By Omar Faridi  |  

Hong Kong’s push towards blockchain enabled Web3 innovation received strong tailwind through a new fund that CMCC Global launched this week. CMCC Global, one of Asia’s earliest venture capital investors “to entirely focus on blockchain technology and Web3 innovation, announced the launch of a venture… Read More

September 30, 2023 @ 6:49 am By Michael Wong  |  

The Hong Kong Institute for Monetary and Financial Research (HKIMR), the research arm of the Hong Kong Academy of Finance (AoF) has officially joined the ASEAN+3 Finance Think-Tank Network (AFTN) as a founding member institution. The ASEAN+3 Finance Think-Tank Network is a coalition established to… Read More

September 30, 2023 @ 4:07 am By Michael Wong  |  

The Hong Kong Monetary Authority (HKMA) has revealed in its recent publication on 29 September that there has been a slight increment in total deposits with authorized institutions by 0.6% in August 2023. The deposits consisted of Hong Kong dollar deposits, which saw an increase… Read More

September 27, 2023 @ 10:58 pm By Michael Wong  |  

A survey jointly conducted by the Hong Kong Monetary Authority (HKMA) and the Securities and Futures Commission (SFC) showed money market funds were the top-selling collective investment schemes (CIS) as reported by the city’s licensed corporations (LCs) in 2022. It accounted for 61% of the… Read More

September 25, 2023 @ 11:50 pm By Michael Wong  |  

Hong Kong-based crypto firm Mixin announced that hackers have managed to steal around $200 million from its database. In a post on social media platform X, the company, which describes itself as a network for transferring digital assets, said the database of Mixin Network’s cloud… Read More

September 21, 2023 @ 6:17 am By Michael Wong  |  

The Hong Kong Monetary Authority (HKMA) unveiled the Green Fintech Competition today, aiming to foster the assimilation of green fintech solutions within the city’s banking realm. This competition aligns with HKMA’s commitment to buttressing the banking sector’s adaptability to climate risk. Green fintech enterprises, both… Read More

September 17, 2023 @ 5:15 pm By Michael Wong  |  

The Hong Kong Monetary Authority (HKMA), the city’s central bank, has released its Q2/2023 payment card statistics, revealing that the total number of credit cards in circulation in Hong Kong reached 19.71 million by the end of the second quarter. This indicates a marginal growth… Read More

September 17, 2023 @ 2:46 pm By Michael Wong  |  

In a landmark move to fortify commercial ties between Hong Kong and Saudi Arabia, the Saudi Arabia-China Entrepreneurs Association (SCEA) signed a Memorandum of Understanding (MoU) with the Hong Kong Trade Development Council (HKTDC). The MoU was inked during the eighth Belt and Road Summit…. Read More

September 17, 2023 @ 2:35 pm By Michael Wong  |  

The Hong Kong Monetary Authority (HKMA) has issued a public advisory warning against crypto businesses that are presenting themselves as “banks” or labeling their products as “deposits”. The regulatory body emphasizes that such misrepresentations may violate the Banking Ordinance. There have been instances of crypto… Read More

September 16, 2023 @ 10:15 am By Michael Wong  |  

Hong Kong-based virtual insurer Bowtie has successfully wrapped up a $34.9 million Series B2 funding round, the company has confirmed. The latest financial injection was led by Sun Life Hong Kong Limited, and saw significant contributions from Mitsui & Co., Ltd. Bowtie’s announcement highlighted that… Read More

September 12, 2023 @ 7:55 am By Omar Faridi  |  

  The Hong Kong Monetary Authority (HKMA) has published its joint report on Project Sela. The initiative focused on the cybersecurity, technical, and policy aspects of a retail CBDC implementation. The HKMA is working with the Bank of Israel (BOI) and the Bank for International… Read More

September 9, 2023 @ 3:43 pm By Michael Wong  |  

Hong Kong Exchanges and Clearing Limited (HKEX), a top-tier exchange group globally, marked the inauguration of its latest office in London this week, further amplifying its international influence. A celebratory reception was held in The City of London. Nicolas Aguzin, HKEX Chief Executive Officer, alongside… Read More

September 6, 2023 @ 10:37 pm By Omar Faridi  |  

Airwallex, a global payments and financial platform for modern businesses, today announced the launch of “Airwallex for Startups”, a business readiness campaign “exclusively for Hong Kong entrepreneurs to support their global growth ambitions.” With the support of Hong Kong flagship incubators, and in collaboration with… Read More

September 4, 2023 @ 11:50 pm By Michael Wong  |  

Hong Kong’s Financial Secretary Paul Chan Mo-po cautioned in his weekly blog on Sunday that merely lowering the tax on securities trading would not necessarily breathe new life into city’s lethargic stock market, and added that piecemeal measures could be counterproductive. This is his first… Read More

September 1, 2023 @ 7:34 pm By Omar Faridi  |  

ZA Bank has reportedly become the first settlement bank for HashKey Exchange, Hong Kong’s first licensed retail virtual asset exchange, as it starts “offering fiat-currency deposit and withdrawal services to investors who hold a ZA Bank account.” As part of its “Banking for Web3” ambition,… Read More

August 31, 2023 @ 8:29 pm By Michael Wong  |  

Asia Carbon Institute (ACI), a voluntary carbon credit registry in Asia, was officially inaugurated at the CIC – Zero Carbon Park in Hong Kong despite a typhoon signal hoisted right before and during the event. The official launch was attended by Chan Ho Lim, Joseph,… Read More

August 31, 2023 @ 6:50 pm By Omar Faridi  |  

SEBA Bank, a full-service, global crypto bank providing financial solutions for the digital age (wealth management, investment, trading, and advisory services), has announced that an approval-in-principle (AIP) from the Securities and Futures Commission (SFC) in Hong Kong has been issued to its regional subsidiary, SEBA… Read More

August 29, 2023 @ 1:01 pm By Omar Faridi  |  

Ecosystems in the East and West are to promote startups and investments in AI, Web3, and crypto currencies have taken measures to add new life in a sector that has been facing headwinds from risk aversion and rising inflation rates, a review compiled by The… Read More

August 24, 2023 @ 10:05 am By Omar Faridi  |  

Hong Kong Exchanges and Clearing Limited (HKEX) is pleased to announce today (Wednesday) the appointment of John Hsu as Managing Director and Group Chief Technology Officer. He succeeds Richard Leung, who will become Group Chief Information Officer. Reporting to Mr Leung, Mr Hsu will reportedly… Read More

August 13, 2023 @ 5:24 am By Omar Faridi  |  

UnionPay International (UPI) and Payments Network Malaysia Sdn Bhd, or PayNet, Malaysia’s national payments network jointly signed an agreement in Shanghai in order to support “the cross-border QR code linkage and enable the full acceptance of the UnionPay App (Chinese-mainland, Hong Kong and Macao versions)… Read More