Tagged: hong kong

Super-Size: Hong Kong Fintech Week Plans Bigger Event for 2019

Hong Kong Fintech Week - Media Briefing_Event Photo

Invest Hong Kong (InvestHK) has announced a “significant expansion” of its annual Hong Kong Fintech Week. Hong Kong has emerged as a leading center for financial innovation. Supported by government officials, Fintech disruption has gained velocity.  Just recently, Hong Kong announced the approval of the… Read More

Hong Kong Securities and Futures Commission Issues Statement on Securities Token Offerings

The Hong Kong Securities and Futures Commission (SFC) has issued a statement intended to guide issuers, intermediaries and investors engaging with security token offerings (STOs). In short, STO issuers and intermediaries: must be Type 1 licensed or registered to deal securities in Hong Kong or… Read More

China: WeiyangX Fintech Review

Parent Company of Shuidi Crowdfunding Receives nearly ¥500 million B-round Funding led by Tencent Shuidi, the parent company of Shuidi Crowdfunding and Shuidi Mutual Insurance, announced this week that it had received a nearly ¥500 million B-round financing. This investment was led by Tencent, and… Read More

Hong Kong Trust Company Legacy Trust Partners with Ledger on Digital Asset Custody

Legacy Trust Company, a Hong Kong-licensed and Public Registered Trust Company, has formed a partnership with Ledger to provide “institutional-grade custody solutions” for digital assets, according to Ledger. The goal is to “help accelerate the flow of institutional money into digital assets.” As is the… Read More

InvestHK Issues Statement on “First of Its Kind” Virtual Banking License Issuance

InvestHK (Invest Hong Kong) commented on the news this week that the Hong Kong Monetary Authority (HKMA) had approved the first three virtual banking licenses. InvestHK’s vision is to strengthen Hong Kong’s status as the leading international business location in Asia. Their mission is to… Read More

Hong Kong Monetary Authority Grants First Virtual Bank Licenses, Reinforces Hong Kong as “Premier International Financial Centre”

The Hong Kong Monetary Authority (HKMA) has announced the first three virtual bank licenses. Applications were opened at the end of 2018 as aspiring digital banks moved quickly to complete the process. The HKMA said the three licenses were granted to: Livi VB Limited, SC Digital… Read More

Standard Chartered Bank Partners With PCCW, HKT, & Ctrip Finance to Build New Virtual Bank in Hong Kong

Standard Chartered Bank Limited, PCCW Limited, HKT Trust and HKT Limited, and Ctrip Financial Management Co., Limited announced on Wednesday the establishment of a strategic joint venture to deliver a new standalone digital retail bank in Hong Kong. According to the organizations, this new joint… Read More

Hong Kong SME Financing Platform Qupital Secures $15 Million Through Series A Funding Round For Greater China Expansion

Qupital, a Hong Kong-based trade finance platform, announced on Wednesday it secured $15 million through its Series A investment round, which was led by CreditEase FinTech Investment Fund (CEFIF) with additional capital injections from the Alibaba Hong Kong Entrepreneurs fund and MindWorks Ventures. Qupital reported that it… Read More

ZhongAn Receives Hong Kong Virtual Banking License, Asks Users to Help with Design

ZhongAn Technologies International Group Limited (ZA International) has been granted a virtual banking license by the Hong Kong Monetary Authority (HKMA). As part of the process of developing their digital bank, ZhongAn is reaching out to users to register for updates and to provide feedback… Read More

Bitmain’s Hong Kong IPO Application Lapses

An IPO application submitted by Bitmain to the Hong Kong Stock Exchange in September has lapsed. Bitmain is the world’s largest crypto-mining consortium. The company operates numerous crypto mining and research facilities across the globe and also designs and manufactures some of the industry’s most… Read More

U.S. Blockchain Trading Platform Bittrex Lists Crypto.com Chain Token on International Exchange

Crypto.com, a Hong Kong-based payments and cryptocurrency platform, announced on Friday its Crypto.com Chain Token (CRO) has been listed on Bittrex International, an international exchange by a premier U.S.-based blockchain trading platform Bittrex. According to Crypto.com, the Crypto.com Chain is a “high-performing” native blockchain powering… Read More

Police Arrest Crypto Promoter Who Threw Cash off Hong Kong High Rise

Wong Ching-kit, 25, known on social media as ‘Coin Young Master,’ and a 20-year-old accomplice, have been arrested in Hong Kong by officers from the Commercial Crime Bureau, South China News reports. They have reportedly been charged with conspiracy to defraud for selling cryptocurrency ‘mining… Read More

Back Door to Legitimacy or Exit Move? Crypto Businesses Using Shortcuts to IPOs

According to Reuters, crypto-exchange software maker ANX International purchased a controlling stake in Hong Kong-listed marketing firm Branding China last year, and said that the company’s new status as a publicly-traded company granted clients, “additional confidence in knowing we are a credible company and here… Read More

There are Now 550 Fintech Companies based in Hong Kong

Hong Kong may have been slow to join the financial innovation party but what it may have lacked in early awareness has now been made up for in fostering a booming Fintech ecosystem. The private-public partnership that has fueled sector growth continues to drive interest… Read More

FSB Supervising Governor Advises Creation of Global Regulations for Crypto

The Financial Stability Board‘s (FSB) Randal K. Quarles has touched on the need for a global regulatory framework for cryptocurrencies in a speech delivered in Hong Kong February 10th at the Bank for International Settlements Special Governors Meeting. Quarles is the Vice Chairman for Supervision on… Read More

Hong Kong and Ireland Look to Forge Closer Financial Co-Operation Including Fintech

The Hong Kong Secretary for Financial Services and the Treasury, James Lau, is visiting Ireland to foster closer financial co-operation between the two countries. According to a release, Lau met with the Minister of State at the Department of Finance and Public Expenditure and Reform of… Read More

Hang Seng Bank Forms Strategic Alliance with Hong Kong Science and Technology Parks Corporation to Offer New Opportunities For Fintech Companies

Hang Seng Bank (Hang Seng) and Hong Kong Science and Technology Parks Corporation (HKSTP) announced on Thursday they have formed a strategic partnership to accelerate the development and deployment of fintech solutions for the banking sector in Hong Kong. The duo reported that under the partnership they… Read More

Tencent Signs MoU With Hong Kong Science and Technology Parks Corporation to Accelerate R&D development & deployment of Fintech

Hong Kong Science and Technology Parks Corporation (HKSTP) announced on Tuesday it signed a Memorandum of Understanding (MoU) with Tencent to accelerate the R&D development and deployment of Fintech in Hong Kong by using Tencent’s revolutionary and advanced technology capabilities with HKSTP’s infrastructure and vibrant innovation… Read More

Hong Kong Stock Exchange Head Suggests Bitmain Business Model Unsustainable, IPO Unlikely

The rumoured appointment of a new CEO at cryptomining giant Bitmain does not appear to have enhanced the company’s prospects of going public in Hong Kong, South China Morning News reports. Responding generally to media questions about cryptomining firms seeking IPOs in Hong Kong, Charles… Read More

Jumpstarter – Hong Kong

JUMPSTARTER, a not-for-profit initiative by Alibaba Hong Kong Entrepreneurs Fund (the “Fund”), announces launching its second-year startup event in January 2019. Extending the reach and impact of this exciting initiative, startups from anywhere in the world are eligible to apply for this year’s iteration, as… Read More

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