Posts From Fintech News Hong Kong
Hong Kong Sets 29 February Licensing Deadline for VASPs
The Secretary for Financial Services and the Treasury, Christopher Hui, emphasised in a recent blog post the crucial deadline for unlicensed Virtual Asset Service Providers (VASPs) in Hong Kong to submit their licensing applications by 29 February. Hong Kong’s risk-based
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Bybit Among 14 Firms Aiming for Crypto License in Hong Kong
Bybit has applied to the Hong Kong Securities and Futures Commission (SFC) to operate as a “virtual asset trading platform,” according to a statement from the company. The website of the Hong Kong Securities and Futures Commission indicates that Bybit,
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HKMA Appoints Archie Ng as New Executive Director of Corporate Services
The Hong Kong Monetary Authority (HKMA) officially appointed Archie Ng as the new Executive Director (Corporate Services), effective 14 February 2024. Archie is set to take over from Donald Chen, who transitioned to Executive Director (Banking Policy) in December 2023.
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Mox Bank Revises Savings Base Rate for HKD and USD Deposits
Mox Bank announces an update to its savings base rate, now offering a rate of 1.5 percent per annum for Hong Kong Dollar (HKD) deposits. This updated rate, which is 170 percent of the typical savings base rates of most
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Digital Custodian Hex Trust Broadens Scope with XRPL Integration
Hex Trust, an institutional-grade digital asset custodian, has announced its integration with the XRP Ledger (XRPL), a decentralised Layer 1 blockchain. According to the company, this development allows its principal custody platform, Hex Safe, to incorporate support for XRPL’s native
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Hang Seng Bank Investigates Significance of Programmability in e-HKD CBDC Adoption
Programmability is a crucial feature for future payment innovation, an attribute which should be integrated into the e-HKD scheme should the central bank digital currency (CBDC) be issued, a new report by Hang Seng Bank and global management consulting firm
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iFAST Introduces TreasuryNow to Broaden Access to US Treasuries in Hong Kong
Fintech solutions provider iFAST Corporation has introduced TreasuryNow, a service aimed at improving the US Treasuries trading experience for investors in Hong Kong. Building on the success of their 2016 platform Bond Express, this platform is said to provide investors
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Blockchain Platform Neo Establishes Hong Kong Office
Neo, the open-source, community-driven blockchain platform, has officially opened its new Hong Kong office. The office is in Cyberport, Hong Kong’s digital tech and Web3 hub. By establishing a presence in Hong Kong, Neo aims to expand its reach in
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Floki Defends Staking Program Amid SFC’s Warning
Floki, a cryptocurrency project, acknowledged that its staking program was labelled as potentially suspicious by Hong Kong’s Securities and Futures Commission (SFC) on 26 January. Floki regretted this classification and noted its ongoing efforts since December 2023 to address regulatory
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Hong Kong to Engage Industry Players in Stablecoin Regulation Study
Hong Kong is reportedly making significant strides towards comprehensive stablecoin regulation, with plans to implement rules within the current quarter. Bloomberg and other sources suggest that key financial entities, including Harvest Global Investments Ltd., RD Technologies, and Venture Smart Financial
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