Posts From Fintech News Hong Kong
South Korea’s Regulator FSC Excludes NFTs and CBDCs from Crypto Interest Earnings
South Korea’s financial regulator, the Financial Services Commission (FSC), has announced that from July 2024, individuals investing in digital assets will earn interest on their deposits at crypto exchanges. However, this will not apply to non-fungible tokens (NFTs) and central
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SBI Holdings and Aramco Enter MoU for Digital Asset Collaboration
SBI Holdings has entered into a Memorandum of Understanding (MoU) with Aramco, the Saudi Arabia-based global energy corporation. The MoU outlines a potential business alliance between SBI Holdings and Aramco, aiming to explore collaboration in several key areas. These areas
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HKMA Highlights Banks’ Role in Climate Action
At the inaugural Green and Sustainable Banking Conference, organised by the Hong Kong Monetary Authority (HKMA), its Deputy Chief Executive Arthur Yuen shed light on the pressing need for immediate action in response to escalating climate challenges. Highlighting the pivotal
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Klook Raises US$210 Million, Aims to Reinforce AI Integration
Travel and leisure booking platform Klook has closed a US$210 million (HK$1.6 billion) financing round. This capital injection will support product development, particularly in expanding city pass options, and bolster marketing initiatives via the Klook Kreator programme. In partnership with
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Hong Kong Allocated HK$200B to Advance Key Sectors Including Fintech and AI
The Hong Kong government is actively working to establish the city as a fintech hub through various strategic initiatives. Significant investments have been made, with HK$200 billion allocated to innovation and technology development in recent years. Specific plans were highlighted
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Ant Group Partners with Huawei to Develop Alipay App on HarmonyOS Platform
Ant Group, the fintech affiliate of Alibaba Group Holding, and Shenzhen-based Huawei Technologies are embarking on a collaborative venture to develop a dedicated version of Ant’s flagship mobile payment application, Alipay, for HarmonyOS, Huawei’s native smartphone operating system. The collaboration
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Millennials and Gen Z Shape Hong Kong’s Proptech Landscape
Hong Kong is emerging as a central player in the evolution of property technology (proptech) within the Asia Pacific region, influenced by the distinct preferences of Millennials and Gen Z. These demographic cohorts, expected to represent 25 percent of Asia’s
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HKMA Research Paper: The Benefits of Digital Bond Tokenisation
Tokenization, which refers to the process of converting financial assets into digital tokens on a blockchain or distributed ledger (DLT), offers many benefits in capital markets. Promising enhanced efficiencies, cost reductions, and improved market liquidity are the main benefits, a
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Hong Kong’s SFC Issues Fraud Warnings for HongKongDAO and BitCuped
The Securities and Futures Commission (SFC) has warned the public about suspected virtual asset-related frauds involving Hong Kong Digital Research Institute, also known as HongKongDAO, and BitCuped. The SFC has requested the Hong Kong Police Force block access to both
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First Digital USD Stablecoin Reaches US$1 Billion Market Cap
First Digital, an Asia-based digital asset custody and trust service provider, reported that its stablecoin, First Digital USD (FDUSD), has achieved a market capitalisation of US$1 billion (HK$7.81 billion). This development marks a growth in adopting FDUSD, which was launched
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