Tag "Hong Kong Monetary Authority (HKMA)"

Hong Kong and Thailand May Be Working on a Joint Central Bank-Backed Crypto Project

The Hong Kong Monetary Authority (HKMA) and the Bank of Thailand (BOT) entered into a Memorandum of Understanding (MoU) to foster collaboration between the two regulatory authorities in promoting financial innovation. Under the agreement, HKMA and BOT agreed to work together

Read More

Ant Financial, Tencent, and Xiaomi Are Among HK’s New 4 Virtual Banking Licensees

The Hong Kong Monetary Authority (HKMA) issued virtual banking rights to 4 more companies: Ant SME Services (Hong Kong) , Infinium, Insight Fintech HK, and Ping An OneConnect. According to their business plans, these four newly licenced virtual banks intend

Read More

Hong Kong Chooses 3 Startup as Part of the Global Fintech Sandbox Project

The Hong Kong Monetary Authority (HKMA), is one of 17 global regulators that are participating in the Global Financial Innovation Network (GFIN) cross-border pilot tests—which has just shortlisted 8 fintechs. In total, 44 unique applications were submitted across the 17

Read More

Cyberport Chairman Reveals Secret Sauce to Growing 350 Fintechs in Just 3 Years

“Everything you do in a fintech startup, you’re likely testing the law, one way or another,” said Cyberport’s chairman Dr. Lee George Lam about fintech in the technology hub he stewards. “If you want to move out of the box,

Read More

Even This Fintech Unicorn Thinks Hong Kong’s Virtual Banking License is Too Restrictive

The virtual banking race is on for different regions across the globe, and the Hong Kong Monetary Authority (HKMA) has put its hat in that race with the virtual banking license, as part of a larger plan to turn Hong

Read More

HKMA Holds High-level Fintech Roundtable with 30 Central Banks

The Hong Kong Monetary Authority (HKMA) held 9 January 2019 a high-level Fintech Roundtable (Roundtable), which was attended by about 45 senior representatives from six international organizations and around 30 central banks or regulatory authorities in 18 jurisdictions. The Roundtable

Read More

HKMA Explores Suptech, The Overlooked Missing Piece of The Smart Banking Picture

It is often said that fintech is one of the most regulated tech sectors in the world, and for good reason. There are dire consequences to any developing tech going wrong (Facebook’s recent privacy scandal comes to mind), but straits

Read More

Virtual Banks to Shake up Hong Kong Banking Landscape

Hong Kong is gearing up for the arrival of virtual banks, or financial institutions without physical branches. The Hong Kong Monetary Authority (HKMA) is set to issue the first batch of virtual bank licenses as early as this year. The

Read More

Abu Dhabi and Hong Kong Advance Fintech Cooperation

Abu Dhabi Global Market, the International Financial Centre in Abu Dhabi, and the Hong Kong Monetary Authority signed a co-operation agreement to jointly promote and enable financial services innovation, and accelerate cross-border FinTech business opportunities in Hong Kong and the

Read More

Hong Kong Monetary Authority Appoints Colin Pou to Build the Fintech Ecosystem

The Hong Kong Monetary Authority (HKMA) announced today recently that the Financial Secretary, on the advice of the Governance Sub-Committee of the Exchange Fund Advisory Committee, has approved the appointment of Mr Colin Pou as Executive Director (Financial Infrastructure) with

Read More