HashKey Capital received approval from the Hong Kong Securities and Futures Commission (SFC) to offer an in-kind crypto subscription to its actively managed fund, HashKey Digital Investment Fund, on 28 April 2025. HashKey Capital’s in-kind subscription model would now allow investors to invest directly using the top 100 tokens by market capitalisation. This includes popular options like BTC, ETH, XRP, SOL, DOGE, ADA, SUI, LINK, TON, and DOT. Traditionally, crypto investors need to convert their virtual assets into fiat currency before subscribing to a fund. This process could be deemed time-consuming, operationally complex, and may include extra conversion fees and…

Alibaba launched Qwen3, the latest generation of its open-sourced large language model (LLM) family, on 29 April 2025. The Qwen3 series features six dense models and two Mixture-of-Experts (MoE) models, offering developers flexibility to build next-generation applications across mobile devices, smart glasses, autonomous vehicles, robotics and beyond. All Qwen3 models—including dense models (0.6B, 1.7B, 4B, 8B, 14B, and 32B parameters) and MoE models (30B with 3B active and 235B with 22B active)—are now open-sourced and available worldwide. Qwen3 purportedly marks Alibaba’s debut of hybrid reasoning models, combining traditional LLM capabilities with advanced, dynamic reasoning. Qwen3 models can apparently easily switch…

The Hong Kong Monetary Authority (HKMA), in collaboration with the Hong Kong Cyberport Management Company Limited (Cyberport), announced the launch of the second cohort of the Generative Artificial Intelligence (Gen AI) Sandbox initiative. The announcement was made on 28 April 2025. The Gen AI Sandbox is designed to offer a risk-controlled environment where banks can safely develop and test innovative AI-driven solutions. This initiative aims to accelerate the adoption of AI technology within the financial sector. After the positive feedback from the inaugural cohort launched in January 2025, the second cohort that the Gen AI Sandbox Hong Kong has is…

Global Fast Track 2025 (GFT 2025) is now open for applications from today, 28 April 2025, until 21 September 2025. This year, the programme will include other verticals besides fintech, providing business opportunities for more technology companies in Hong Kong and worldwide. The year-long hybrid program offers participants one-on-one meetings, live pitching opportunities, mentorship, and customised business matching with corporate clients, investors, and service providers. A separate competition track will choose semi-finalists from each vertical to pitch in person at the Hong Kong FinTech Week x StartmeupHK Festival 2025 in November. The grand finale will be held during the main…

Bright Smart Securities & Commodities, a Hong Kong-based brokerage, made an announcement on 26 April 2025. Its chairman, Yip Mow-lum, agreed to sell his entire 50.55% stake. The buyer is Ant Group, the fintech arm of Alibaba. The transaction is valued at approximately HK$2.81 billion and is part of the Ant Group Bright Smart Securities acquisition. The shares almost reach 858 million in numbers, and are sold to Wealthiness and Prosperity Holding Ltd., ultimately controlled by the Chinese fintech giant Jack Ma. The Standard reports that the Ant Group Bright Smart Securities acquisition deal is priced at HK$3.28 per share.…

Invest Hong Kong (InvestHK), the Hong Kong Economic and Trade Office in Singapore (HKETO Singapore), and the Hong Kong Trade Development Council (HKTDC) jointly held a seminar on 23 April 2025 in Mumbai. The seminar was part of the Associate Director-General of Investment Promotion at InvestHK, Charles Ng’s duty visit. During visits to Mumbai and Delhi, Charles Ng engaged in discussions with large family businesses, enterprises, family offices, business founders, and entrepreneurs from various sectors. He highlighted the unique benefits of the “one country, two systems” framework and shared the business and investment opportunities available in Hong Kong and the…

Ant Bank (Hong Kong) received a US$100 million capital injection from its parent company, Ant International, on 23 April 2025. Ant Bank plans to enhance investments in services and products. It aims to expand collaborations with partners to strengthen offerings. As Ant Bank secures $100M in capital injection, its next goal is to provide customers with more personalised and flexible financial solutions. The bank also intends to advance Hong Kong’s digital financial landscape to promote greater openness, inclusivity, and convenience. Ant Bank currently applies Ant International’s technology to offer various accessible financial services. These include the eM+ High Yield Account,…

Alipay Tap!, a QR code-based contactless payment and customer engagement solution introduced by Alipay in China in June 2024, has reportedly won over 100 million users. The Alipay tap hits 100M milestone was reached on 24 April 2025, within 11 months. Alipay Tap! is designed to streamline the payment process for consumers and merchants, offering a smoother alternative to China’s widely used “scan-and-pay” model. Users simply tap their unlocked phone on a merchant’s terminal or an Alipay Tap! Tag, streamlining the payment process. There’s no need to open an app, scan a code, or navigate through multiple screens. Early adopter…

OSL Group, a publicly listed company dedicated to digital assets and Fosun Wealth International Holdings Limited (Fosun Wealth Holdings), a digitalised global wealth management platform under Fosun, announced a strategic partnership on 24 April 2025. OSL will provide Fosun Wealth Holdings access to its secure, compliant Omnibus platform in Hong Kong to simplify trading processes. Fosun Wealth Holdings aims to provide its clients with instant, secure, and regulated crypto trading services by using OSL’s Omnibus service. This includes strong KYC and AML processes, real-time risk controls, and insured custody solutions. The OSL and Fosun Wealth partnership intends to simplify operations,…

The Hongkong and Shanghai Banking Corporation Limited (HSBC Hong Kong) and Huatai Securities Co., Ltd (Huatai Securities) signed a memorandum of understanding on 22 April 2025. The agreement aims to explore a strategic partnership to enhance services for their respective customers. The HSBC Hong Kong Huatai Securities partnership will focus on wealth management, cross-border solutions, international financial services, and technology-driven transformation. Maggie Ng, Head of Wealth and Personal Banking, Hong Kong, HSBC, said, “Together, we are well-positioned to explore strategic collaborations that will create greater value and synergy for our clients, capitalising on the growing financial integration between Hong Kong and…

MoneyHero Limited, a personal finance aggregation and comparison platform, has announced a new service. The company, also an insurance brokerage provider in Southeast Asia, launched its end-to-end car insurance purchasing journey in Hong Kong. The launch of the MoneyHero end-to-end car insurance journey, in collaboration with insurtech bolttech, took place on 22 April 2025. This new solution enables customers to compare and receive real-time insurance quotes while completing their entire car insurance purchase directly on MoneyHero’s platform. The platform allows customers to compare real-time quotes from insurers, customise coverage options, purchase policies without redirection to third-party sites, and receive confirmation…

Bank of America announced two strategic hires to further strengthen its Global Payments Solutions (GPS) leadership team in Asia Pacific and Latin America. Phil Carmalt will join Bank of America in late May as Head of Asia Pacific Global Payments Solutions (GPS) Product. Based in Hong Kong, he will report to Greg Kavanaugh, Head of Global Payments Solutions Product, and Winnie Chen, Head of APAC Global Payments Solutions. In his new role, Phil will lead the region’s product management team, driving the execution of GPS’s product strategy and vision across channels, as well as cash and liquidity products. He will…

OSL Digital Securities (OSL), a regulated digital asset platform, will provide staking services for the Ether assets of China Asset Management (Hong Kong) for its ChinaAMC HK Ether ETF, following approval from the Securities and Futures Commission of Hong Kong (SFC). The staking of ChinaAMC (HK)’s Ether assets via OSL may commence on 15 May 2025. This will enable investors to participate in the Ethereum blockchain protocol’s proof-of-stake rewards mechanism through a tightly regulated and transparent platform. Staking the ETF’s underlying Ether assets transforms it from a passive investment product into an active participant in the Ethereum ecosystem. At the same…

HashKey Capital announced the launch of the HashKey XRP Tracker Fund (the “HashKey XRP Tracker”) on 18 April 2025. The fund claims to be the first investment fund in Asia to track the performance of XRP. Ripple, a digital assets infrastructure provider, will be an early investor. The HashKey XRP Tracker Fund will be available to professional investors, who can gain exposure to XRP without the technical challenges of direct ownership. XRP is apparently now the third-largest cryptocurrency by market capitalisation after BTC and ETH. It has become an integral part of the sector due to its primary use case:…

Payoneer, a fintech company offering online money transfers and digital payment services, announced on 9 April 2024 that it had completed its acquisition of Easylink Payment Co., Ltd., a licensed payment service provider based in China. John Caplan, CEO of Payoneer, shared that Payoneer serves a diverse range of companies in the country, allowing it to grow its business globally. He added, “We are honoured to be a licensed payment service provider in China. Our acquisition strengthens our global regulatory infrastructure and positions us to better serve those customers with enhanced and localised products and services.” In another strategic partnership,…

Adobe and Antom, a provider of merchant payment and digitisation solutions under Ant International, announced a new collaboration on 15 April 2025. With the Adobe Antom Hong Kong partnership, the aim is to offer improved payment experiences for Adobe customers across Asia. Customers shopping on Adobe.com will obtain a more personalised checkout experience by selecting their preferred payment option after choosing their products. Matt Wegner, Vice President, Global Payments at Adobe, shared, “As our base of customers in Asia fast expands, we’re excited to announce our partnership with Antom to integrate localised payment options for our customers and unlock new…

The Hong Kong Monetary Authority (HKMA) announced “E-Banking Security ABC,” a series of new anti-digital fraud measures to better protect the public from evolving digital fraud trends and strengthen public protection. HKMA introduced the “E-Banking Security ABC” framework to combat the growing sophistication of fraud schemes, particularly those leveraging technologies like artificial intelligence and deepfakes. This initiative focuses on three key enhancements for authorised institutions. Under “Authenticate in-App,” the measures encourage enabling customers to use bound devices as the default option instead of SMS One-Time Passwords (OTPs) for verifying Internet-banking-related activities. This includes for high-risk online banking activities such as logging…

Bosera International and HashKey Capital Limited announced the launch of the Bosera HashKey Virtual Asset Ether ETF on 11 April 2025. The ETF was approved by Hong Kong’s Securities and Futures Commission (SFC). Starting 25 April 2025, the Bosera HashKey Virtual Asset Ether ETF will be allowed to participate in Ethereum staking activities. By offering staking, the Bosera HashKey Virtual Asset Ether ETF aims to boost potential returns for investors and provide a regulated way to participate in the Ethereum ecosystem. The ETF received regulatory approval to stake up to 30% of its holdings to earn Ethereum staking rewards. After…

XTransfer participated in the Global Sources Consumer Electronics Show 2025 at AsiaWorld-Expo on April 11, 2025, to present its “Global Business Account” and “Local Currency Account” solutions. These services are designed to provide Hong Kong and global SMEs with faster, safer, and more affordable cross-border payment options via XTransfer cross-border payments. XTransfer’s latest data showed a 300% year-over-year increase in collection volume from its Hong Kong clients trading with ASEAN, Africa, and Latin America. Nigeria recorded the highest growth. During this time, nearly 50% of the total collection volume from XTransfer’s Hong Kong clients came from these three regions. Also,…

Bain Capital is aiming to raise billions of US dollars for its upcoming Asia fund and a special situations fund in the region, as it looks to support private equity (PE) and credit deals in countries ranging from Japan to India, according to sources familiar with the matter. Based in Boston, Bain Capital manages over US$185 billion in assets and invests across private equity, credit, and real estate. The investment firm intends to raise at least US$7 billion for its Bain Capital Asia Fund VI, targeting more than the amount raised for its previous fund, sources told The Business Times, speaking on…