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Posts From Fintech News Hong Kong
Ant Group Close to Acquiring Dutch Payments Firm MultiSafepay for US$200 Million
Ant Group, an affiliate of Alibaba Group, is in advanced negotiations to acquire Dutch payment company MultiSafepay. The deal, pending regulatory approval, is estimated to value MultiSafepay at approximately US$200 million according to a source. MultiSafepay, founded in 1999, specialises
Read MoreCross-Border Payment Platform XTransfer Expands to 200+ Nations, Aids MSMEs
XTransfer, a cross-border trade payment platform from China, announced its international expansion to over 200 countries and regions worldwide. This follows the company’s launch in Hong Kong in 2023, with a recent entry into Vietnam. The company now serves micro,
Read MoreHong Kong Virtual Banks Struggle to Attract Deposits
Customer deposits are a critical pillar for virtual banks’ operations in Hong Kong, serving as a core foundation of their future growth and success. However, most Hong Kong virtual banks are facing challenges around their customer acquisition and deposit strategies,
Read MoreSidney Wang Appointed by Standard Chartered as Market Head in Hong Kong
Standard Chartered has appointed Sidney Wang as Managing Director and Market Head for Greater China in its Private Banking division. With over 20 years of experience in banking and wealth management, Sidney will be based in Hong Kong and report
Read MoreHong Kong Proposes New Licensing Regime for Stablecoin Issuers
The Financial Services and the Treasury Bureau (FSTB) and the Hong Kong Monetary Authority (HKMA) have issued a consultation paper proposing a regulatory regime for stablecoin issuers in Hong Kong. This announcement invites feedback from the public and stakeholders, signalling
Read MoreHong Kong Pins LonShiX and Bitbank on Alert List for Suspected Virtual Asset Fraud
The Securities and Futures Commission (SFC) of Hong Kong has issued a public warning about two entities, LonShiX and Bitbank (Global) Financial Holding Group, for suspected virtual asset-related fraud. The SFC has identified LonShiX as claiming a fake Hong Kong
Read MoreHKMA Reveals Consumer Protection Gaps in Financial Sector’s Digital Marketing
The Hong Kong Monetary Authority (HKMA) pinpointed several critical areas that authorised financial institutions need to address in their digital marketing efforts in a recent thematic review. Key issues include the rigorous assessment of marketing materials, effective selection and management
Read MoreHong Kong Set to Host the Upcoming Asian Financial Forum 2024 in January
Hong Kong will be the center stage for the 17th Asian Financial Forum (AFF), slated for 24-25 January 2024, at the Hong Kong Convention and Exhibition Centre (HKCEC). Co-organised by the Hong Kong Special Administrative Region (HKSAR) government and the
Read MoreMox Bank Offers U.S. and HK Stock Trading Through Beta Testing
Hong Kong’s virtual bank Mox has initiated a beta phase for its new investment service, Mox Invest. This initial phase sees the service being gradually introduced to existing customers through an invitation-only approach. Mox Invest offers the virtual bank’s users
Read MoreDubai, Hong Kong Pave the Way for Green Finance Policies in Asia and Middle East
The Dubai Financial Services Authority (DFSA) and the Hong Kong Monetary Authority (HKMA) will work together to explore and develop effective policy and regulatory responses that support climate finance in the Middle East and Asia. The DFSA, an independent financial
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