Tag "HKMA"

Eddie Yue Appointed as New HKMA CEO; Executive Director Resigns Citing Personal Reasons

Eddie Yue, who currently serves as the Deputy CEO of HKMA will succeed Norman Chan as the new CEO in October. The 54 year old incoming CEO Eddie Yue, started his career in civil service in 1986 and joined HKMA

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Meet Hong Kong’s 8 New Virtual Banks

Hong Kong Monetary Authority (HKMA) has announced a grand total of eight virtual banking license recipients, in three separate announcements so far. Despite the rumoured 29 hopefuls vying for the license, it’s likely that HKMA will only be granting licenses

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Hong Kong Needs More Than Lip Service to Grow Blockchain, Says Local Founder

After his blockchain panel at the Internet Economy Summit last week, we had a chance to sit down with trustMe, a local player in the blockchain scene with a focus on bringing the technology to SMEs in Hong Kong. Steven

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The First 3 Recipients of HKMA’s Virtual Banking License Have Been Announced

The Hong Kong Monetary Authority (HKMA) announced today that three companies have been granted virtual banking licences: Livi VB, SC Digital, and ZhongAn Virtual Finance. As rumoured in our previous report, some of the companies granted licenses are joint ventures that include

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Neat Reveals One Key Problem With HKMA’s Virtual Banking License and Why They Won’t Bother

The Hong Kong Monetary Authority (HKMA)’s decision to set up the virtual license is often seen as a strategic move, if a tad overdue. Reportedly, the regulator saw over 29 applications, which rumour has it, includes companies like Ant Financial,

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Hong Kong Fintech Week 2018 – Day 3 Highlights

Day 3 at Hong Kong Fintech Week at Hong Kong Exhibition and Convention Centre was buzzed with energy as the three stages hosted speeches and lively panel sessions to full houses, while the numerous fintech company booths attracted delegates amid the

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Ping An’s New Project With HKMA is a Blockchain-Powered Trade Finance Platform

Ping An Insurance delivered Hong Kong’s first blockchain-based international trade finance platform, eTradeConnect. The platform was initiated by seven founding banks in Hong Kong and facilitated by the Hong Kong Monetary Authority (HKMA). Leveraging blockchain’s distributed ledger technology, financial institutions

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Open Banking Hong Kong — How Open is Open?

Following the rollout of Open Banking regulations in the UK and the launch this year of the EU’s Payment Services Directive 2 (PSD2), countries across the Asia-Pacific region are following suit to establish their own frameworks to enable banks to

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Now That The HKMA Faster Payment System is Live, What Does it Mean For Hong Kong?

In an effort to push Hong Kong towards a cashless society, the HKMA Faster Payment System was launched earlier this month To date 21 banks and 10 digital wallet have signed up for the system which includes well known names

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Is Hong Kong Ready to Go Cashless?

Seeing the popularity of WeChat Pay and Alipay in China, it is easy for some to assume that these mobile payment apps are equally popular in Hong Kong. Unlike China, Hong Kong is still largely a very cash dominant society.

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