Posts From Fintech News Hong Kong
HKMA Reviews Progress on Banking Sector’s Loss-Absorbing Capacity Requirements
The Hong Kong Monetary Authority (HKMA) has issued a report detailing the implementation of loss-absorbing capacity (LAC) requirements in Hong Kong’s financial sector. The document provides a comprehensive analysis of the steps taken towards establishing a robust framework for LAC,
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Hex Trust Expands Advisory Board with Two New Members
Hex Trust, an institutional-grade digital asset custodian with licenses in major global financial centers, has recently expanded its advisory board with the addition of Dr. Dimitrios Kavvathas and Marty Jetton. Their appointments are expected to enhance the company’s strategic direction
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Hong Kong Launches HK$6B Tokenised Digital Green Bonds Offering
The Government of the Hong Kong Special Administrative Region (HKSAR) of the People’s Republic of China has today announced the successful offering of approximately HK$6 billion in digital green bonds under its Government Green Bond Programme. This offering, denominated in
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Octopus Cards Shifts Towards Digital Wallets on Smartphones
Octopus Cards Limited is facilitating a shift towards digital payments in Hong Kong, encouraging the transition from the traditional physical Octopus cards to a smartphone-based wallet. This strategic move is in response to the changing dynamics of the payment system
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Cyberport and Huawei Cloud to Develop “Web3 Industry Cloud” Platform
Cyberport has signed a Memorandum of Understanding (MoU) with Huawei Cloud, marking a significant step towards enhancing Hong Kong’s digital innovation and technology sector. This collaboration aims to develop a “Web3 Industry Cloud” platform, bolstering the infrastructure for local Web3
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Ant Group Faces 92% Profit Decline in Latest Quarterly Report
Ant Group, the financial technology entity founded by Jack Ma, has witnessed a significant downturn in its quarterly earnings, with a 92 percent reduction as it navigates through an economic downturn and enduring regulatory oversight. Based in Hangzhou, the company
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MediConCen Raises US$6.85M in Series A Led by HSBC Asset Management
MediConCen Limited, an Insurtech company specialising in AI and blockchain-driven insurance claims automation, has announced the completion of its latest Series A funding round, raising US$6.85 million (HK$53.57 million). The investment was led by HSBC Asset Management, with participation from
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bolttech Insurance Debuts ‘Cancel for Any Reason’ Travel Coverage
bolttech Insurance, the Hong Kong arm of the international insurtech group, has announced the launch of MyTravel, a new travel insurance product. This plan is exclusively available via the online insurance platform of FWD, aiming to provide a streamlined process
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RD Technologies, HashKey Exchange, Allinpay Exploring Stablecoin Integration
RD Technologies announced its intent to collaborate with the Hong Kong licensed virtual assets trading platform, HashKey Exchange, and financial payment company Allinpay International. This partnership is focused on exploring the integration of stablecoins into payment services, aiming to enhance
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ZA Bank Launches ‘Savings Pot’ with 4% Rate
ZA Bank has rolled out “Savings Pot,” a new feature aimed at helping users manage their savings separately from their daily expenditures. The introduction of this product comes in response to a rising demand for deposit options, as indicated by
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