January 8, 2019 @ 2:00 pm By JD Alois  |  

Fintech Predictions for 2019. Financial innovation continues to evolve at a rapid pace. Startups launch and shutdown with regularity. Traditional financial firms experiment and partner with more agile firms. It’s all about the digitization of finance where services are ubiquitous and instantaneous – all available… Read More

January 8, 2019 @ 9:46 am By Cali Haan  |  

A man arrested for flinging Hong Kong hundred dollar bills ($13 USD) off a local high-rise in December is now being sued by investors who say he duped them out of $3 million dollars, South China Morning News (SCMP) reports. Four investors staged a protest… Read More

December 27, 2018 @ 4:51 pm By Cali Haan  |  

Bitmain, the world’s largest manufacturer of cryptocurrency mining hardware and largest operator of crypto mining pools, and Huobi, the world’s third-largest cryptocurrency exchange, have both confirmed rumours they will be laying off employees, South China Morning Post (SCMP) reports. The value of global crypto markets has declined by… Read More

December 26, 2018 @ 1:07 pm By JD Alois  |  

Hong Kong-based Fintech Supercharger accelerator has partnered with the Asia Pacific University of Technology & Innovation (APU) located in Kuala Lumpur. Starting in the first quarter of 2019, prospective students may enroll for a Bachelor’s in Banking and Finance with a specialism in Fintech. Supercharger says… Read More

December 22, 2018 @ 2:12 pm By Xu Gao  |  

Hong Kong Insurance Regulatory Authority Issues First Virtual Insurance License Under Fast Track On December 20th, Hong Kong Insurtech Bowtie announced that it has obtained the first virtual insurance company license issued by the Hong Kong Insurance Authority under Fast Track. Bowtie was founded by… Read More

December 18, 2018 @ 8:43 pm By Cali Haan  |  

A 24-year-old alleged “scam artist” who characterizes himself as a Robin Hood-type has been arrested in Hong Kong for chucking a torrent of hundred dollar bills off a skyscraper in the Sham Shui Po neighborhood, one of Hong Kong’s poorest, Shanghaiist reports. Videos from the… Read More

December 18, 2018 @ 2:05 pm By Cali Haan  |  

The Hong Kong Stock Exchange appears to be reluctant to approve crypto mining giant Bitmain’s application to go public there, possibly because the 2018 bear market is highlighting unreliability in crypto markets. “What they are doing is they are just dragging the case right now,”… Read More

December 17, 2018 @ 3:07 pm By Samantha Hurst  |  

Coinness, an Asian cryptocurrency and blockchain information provider, announced on Monday it is expanding in the U.S., which the company claims is the home to more than 20 million cryptocurrency investors. Founded in 2017, Coinness stated it is dedicated to an instant inclusive coverage of everything happening… Read More

December 17, 2018 @ 9:14 am By JD Alois  |  

Overstock (NASDAQ: OSTK) subsidiary tZERO has been asked by Hong Kong-based private equity firm GSR Capital to develop a smart contract commodity token for the sale of cobalt. GSR Capital is a significant investor in tZero having committed to invest up to $270 million at a… Read More

December 15, 2018 @ 9:41 am By Xu Gao  |  

HKEX Will Introduce Blockchain and AI to Increase Automation HKEX will announce its three-year strategic plan for 2019-2021 early next year. Charles Li, chief executive of HKEX, said that there were still many business procedures in HKEX relying on manpower. In the future, HKEX will… Read More

December 8, 2018 @ 5:00 pm By Xu Gao  |  

Financial Authorities Ban STOs in Beijing On December 1st, at the 2018 Global Wealth Management Forum, Huo Xuewen, director of the Beijing Municipal Bureau of Financial Work, warned that STO activities in Beijing would be seen as illegal. He said: “A new concept called STO… Read More

November 30, 2018 @ 9:05 am By Samantha Hurst  |  

Oriente, the Hong Kong-based financial services and technology company, announced earlier this week it secured $105 million through its initial funding round. The round included investment from the founders and a group of family offices such as members of the Berjaya Group, JG Summit Holdings, Inc., and Sinar Mas. The round ranks as one… Read More

November 28, 2018 @ 12:32 pm By Samantha Hurst  |  

UnionPay International (UPI), announced last week it has reached QR code payment service cooperation with Hong Kong’s Mass Transit Railway (MTR). UnionPay reported that in the future cardholders will be able to scan QR code via the UnionPay app or the MTR app after binding… Read More

November 24, 2018 @ 9:32 am By Xu Gao  |  

Ping An Invests $47 million in Berlin-based Fintech Startup Finleap On November 20th, Ping An, one of China’s largest financial groups, announced its first entry into the European market. The Ping An Insurance Group’s Global Voyager Investment Fund led a €41.5 million ($47 million) investment… Read More

November 3, 2018 @ 6:13 pm By JD Alois  |  

During Hong Kong Fintech Week, the CEO of the Hong Kong Securities and Futures Commission (SFC), Ashley Alder, spoke about the benefits and challenges of Fintech. According to Alder: “It is obvious that the pace of change and innovation in financial services is unprecedented. We… Read More

November 3, 2018 @ 5:50 pm By JD Alois  |  

Announced during Hong Kong Fintech Week, the Securities and Futures Commission of Hong Kong issued a statement on their approach which seeks to bring both digital asset portfolio managers and distributors of these “virtual asset funds” under its regulatory purview. Additionally, SFC has released a… Read More

November 3, 2018 @ 11:29 am By Xu Gao  |  

Hong Kong Monetary Authority Launches Blockchain-based Trade Finance Platform TradeConnect The Hong Kong Monetary Authority (hereinafter referred to as the HKMA) announced on October 31st that it had launched a blockchain-based trade finance platform TradeConnect, in order to facilitate cross-border trade and related research. TradeConnect… Read More

October 30, 2018 @ 9:37 pm By JD Alois  |  

Ledger, a leading company providing crypto security solutions, is expanding its global presence to Hong Kong. The move is designed to boost its presence in APAC countries and “meet increasing demand” for Ledger Vault crypto self-custody solution and Ledger’s trademark hardware wallet the Ledger Nano… Read More

October 27, 2018 @ 12:00 pm By Xu Gao  |  

Online Brokerage Futu Securities Reported to File with U.S. Regulators for IPO Bloomberg quoted people familiar with the matter that Chinese online brokerage Futu Securities had secretly submitted an IPO application in the US, and the fundraising scale could reach at least $300 million. Futu… Read More

October 25, 2018 @ 11:16 pm By Samantha Hurst  |  

Spiking, a Hong Kong-based fintech that’s blockchain platform allows traders to find Whales (i.e. key executives behind cryptocurrency tokens, mining pools and/or large holders) and follow their cryptocurrency trades, successfully secured $30 million through its oversubscribed private token sale. Founded in 2016, Spiking stated it aims… Read More