Posts From Fintech News Hong Kong
Hong Kong Boosts Sustainable Finance with IFRS Adoption and Technology Upgrades
Hong Kong’s Green and Sustainable Finance Cross-Agency Steering Group (Steering Group) announced key initiatives to strengthen the region’s position in sustainable finance. The group welcomed the Accounting and Financial Reporting Council as a new member and outlined three major initiatives
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Hong Kong Insurtech OneDegree Announced Executive Appointments
Hong Kong-based virtual insurer OneDegree Group has appointed Michelle Ip as CEO of its technology division, OneDegree Global, and Robin Scott as General Manager of the newly established OneDegree Middle East division. Michelle, who joined OneDegree in 2022, brings extensive
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Ant Group Close to Acquiring Dutch Payments Firm MultiSafepay for US$200 Million
Ant Group, an affiliate of Alibaba Group, is in advanced negotiations to acquire Dutch payment company MultiSafepay. The deal, pending regulatory approval, is estimated to value MultiSafepay at approximately US$200 million according to a source. MultiSafepay, founded in 1999, specialises
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Cross-Border Payment Platform XTransfer Expands to 200+ Nations, Aids MSMEs
XTransfer, a cross-border trade payment platform from China, announced its international expansion to over 200 countries and regions worldwide. This follows the company’s launch in Hong Kong in 2023, with a recent entry into Vietnam. The company now serves micro,
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Hong Kong Virtual Banks Struggle to Attract Deposits
Customer deposits are a critical pillar for virtual banks’ operations in Hong Kong, serving as a core foundation of their future growth and success. However, most Hong Kong virtual banks are facing challenges around their customer acquisition and deposit strategies,
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Sidney Wang Appointed by Standard Chartered as Market Head in Hong Kong
Standard Chartered has appointed Sidney Wang as Managing Director and Market Head for Greater China in its Private Banking division. With over 20 years of experience in banking and wealth management, Sidney will be based in Hong Kong and report
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Hong Kong Proposes New Licensing Regime for Stablecoin Issuers
The Financial Services and the Treasury Bureau (FSTB) and the Hong Kong Monetary Authority (HKMA) have issued a consultation paper proposing a regulatory regime for stablecoin issuers in Hong Kong. This announcement invites feedback from the public and stakeholders, signalling
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Hong Kong Pins LonShiX and Bitbank on Alert List for Suspected Virtual Asset Fraud
The Securities and Futures Commission (SFC) of Hong Kong has issued a public warning about two entities, LonShiX and Bitbank (Global) Financial Holding Group, for suspected virtual asset-related fraud. The SFC has identified LonShiX as claiming a fake Hong Kong
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HKMA Reveals Consumer Protection Gaps in Financial Sector’s Digital Marketing
The Hong Kong Monetary Authority (HKMA) pinpointed several critical areas that authorised financial institutions need to address in their digital marketing efforts in a recent thematic review. Key issues include the rigorous assessment of marketing materials, effective selection and management
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Hong Kong Set to Host the Upcoming Asian Financial Forum 2024 in January
Hong Kong will be the center stage for the 17th Asian Financial Forum (AFF), slated for 24-25 January 2024, at the Hong Kong Convention and Exhibition Centre (HKCEC). Co-organised by the Hong Kong Special Administrative Region (HKSAR) government and the
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