Circle CEO Jeremy Allaire predicts that China could roll out a yuan stablecoin within three to five years to expand the currency’s role in the global financial system. Speaking in Hong Kong, Allaire told Reuters that stablecoins have emerged as an effective mechanism for exporting national currencies and simplifying cross-border payments. He described the shift as a natural evolution of international finance, noting that digital money is becoming increasingly integrated into global trade. “There is a tremendous opportunity for a yuan stablecoin,” said Allaire. He noted that governments seeking to increase the international adoption of their fiat currencies must now…

Preparations for a Naver IPO are underway following an agreement between Naver Financial and cryptocurrency exchange operator Dunamu to merge through a comprehensive share swap, according to The Korea Herald. The companies plan to form a joint committee within a year of completing the exchange to prepare for a public market debut. The listing is targeted to take place within five years, though this timeline could extend by an additional two years. Market expectations suggest the Naver IPO could involve an overseas listing, potentially on the US Nasdaq. “The listing plan, including timing and structure, has not been finalised,” a…

TransUnion is urging lenders to update their risk assessment models, revealing that gig workers in Hong Kong exhibit strong repayment discipline and present an untapped market for the credit sector. A new study by the credit reporting agency found that these individuals make up approximately 13% of the domestic workforce. Most do not rely solely on freelance income, as 89% earn a regular salary alongside their side jobs. The data challenges the assumption that non-traditional employment equates to higher lending risk. Among surveyed gig workers in Hong Kong, 95% sit in prime or higher credit tiers, compared to 90% of…

Citi and digital wealth platform Endowus have launched a joint credit card promotion in Hong Kong, expanding the Citi Endowus partnership following the bank’s venture investment in the firm last year. The campaign offers eligible Endowus clients a HK$4,000 cash reward when they apply for a new Citi Prestige Card and meet specific requirements during the promotional period which ends on June 30 2026. To qualify for the reward, participants must invest at least HK$200,000 or US$26,000 on the Endowus platform and maintain that balance for 90 consecutive days. Users are also required to complete a consultation with an Endowus…

Singapore-headquartered fintech Aspire has secured three financial licenses from the Securities and Futures Commission (SFC). The new Aspire license in Hong Kong permits the company’s local subsidiary, AFT HK Treasury Limited, to deal in and advise on securities, as well as provide asset management services. The regulatory approval paves the way for the introduction of Aspire Yield. This investment product targets startups and digitally native businesses, allowing them to earn returns on multi-currency balances through money market funds. The company stated that the product has no minimum investment requirements or rigid lock-up periods, providing companies with immediate liquidity for their…

Stablecoin transaction volumes surged 72% in 2025, reaching a record US$33 trillion and signalling growing institutional adoption for real-time settlement. Stablecoin payment activity is also heavily concentrated in Asia. Payments originating from the region account for around US$245 billion, or 60% of global stablecoin payment volume, driven largely by Singapore, Hong Kong, and Japan. As adoption accelerates, institutions are increasingly focused on operational resilience, regulatory compliance, and integrating stablecoins into treasury and payment systems. The question is no longer whether stablecoins work, but how to scale them safely across global cross-border payment networks. In this webinar, we will explore: How…

South Korean genAI startup Upstage has raised 180 billion won (US$120 million) in a Series C round backed by major Asian financial institutions, marking it as the country’s first generative AI unicorn. The recent Upstage AI funding South Korea round values the company at over 1 trillion won (US$679 million), as reported by AJP. Silicon Valley venture capital firm Sage Partners led the investment. Several financial groups participated in the funding, including KB Securities, Mirae Asset Venture Investment, and Shinhan Venture Investment. Global equity firm Axiom Asia and InterVest also joined the round. Upstage develops enterprise AI products tailored for…

Ripple has partnered with Kyobo Life Insurance to pilot a settlement system for tokenised government bonds in Korea, targeting the slow transaction speeds of traditional institutional finance. The development mirrors similar institutional digital asset initiatives in Hong Kong, where the Hong Kong Monetary Authority (HKMA) has been actively issuing tokenised green bonds to modernise regional financial market infrastructure. The collaboration will use Ripple’s digital asset custody platform to test the holding, transfer and settlement of tokenised assets. The companies aim to assess both the technical and regulatory feasibility of moving Treasury settlements onto a blockchain network in the South Korean…

South Korea’s central bank is urging local cryptocurrency exchanges to adopt stock market style circuit breakers, driving a push for new South Korea crypto regulation. The Bank of Korea outlined the proposal in its 2025 Payment and Settlement Report. The central bank cited an operational failure at Bithumb in February as evidence that the digital asset market requires traditional financial safeguards, as reported by The Block. Fat finger error triggers market plunge The regulatory push stems from a February 6 incident where a Bithumb employee mistakenly transferred 620,000 Bitcoin instead of South Korean won during a promotional event. The input…

ShopBack is integrating its rewards and payments platform with point-of-sale provider Eats365, giving food and beverage merchants a streamlined way to accept ShopBack Pay Hong Kong. The partnership connects the consumer wallet with 365pay, the integrated payment platform developed by Eats365. The integration is scheduled to launch in July 2026. It allows merchants to process ShopBack transactions directly through their existing iPad cameras or scanners without requiring a separate standalone terminal. The automated flow connects customer payments to the merchant’s point-of-sale system in real time. Processing orders as part of the standard end-of-day reconciliation procedure reduces manual input errors and…

South Korean crypto exchange operator Dunamu and US blockchain firm Circle have signed a MoU to improve transparency in the digital asset market. The Dunamu Circle agreement focuses on stablecoin education and regulatory compliance, according to The Korea Herald. The two companies will develop educational programmes for market participants. These initiatives will cover stablecoins and other digital assets to promote responsible innovation within the sector. “We are pleased to partner with Circle, which has strong expertise in operating a regulation-friendly digital asset business,” said Oh Kyung-seok, CEO of Dunamu. This partnership highlights a growing push for institutional frameworks across the…

South Korean digital asset exchange Bithumb has signed a MoU with Circle, the issuer of USDC, to cooperate on digital asset infrastructure and stablecoin technology. According to the Korea Herald, the partnership aims to expand the footprint of the US dollar-pegged stablecoin in the local market. The agreement was reached during a visit to Seoul by Circle CEO Jeremy Allaire, who is engaging with local financial institutions and regulators. Under the agreement, the two companies will jointly review technology integration measures on the Bithumb platform. These include the implementation of multi-chain functionality and the development of infrastructure to support stablecoins.…

The Hong Kong Monetary Authority (HKMA) is facing industry calls to loosen restrictions on stablecoin issuance after granting its first two licenses exclusively to traditional banks, as reported by the South China Morning Post. HSBC and Anchorpoint, a joint venture led by Standard Chartered, received the initial HKMA stablecoin licenses. Market participants noted that the approvals fell short of expectations and highlighted the regulator’s cautious approach to digital assets. Everbright Securities International strategist Kenny Ng Lai-yin said the market had expected the authority to issue at least three licences to issuers from a broader range of backgrounds. Hong Kong is…

Licensed digital asset trading platform EX.IO has signed a MoU with electronic payment provider Payment Asia to explore the use of regulated stablecoins in Hong Kong. The partnership will focus on payment, custody, trading and application scenarios, with the aim of building infrastructure to support licensed stablecoin issuers and facilitate adoption once implementation begins. The move follows the Hong Kong Monetary Authority’s (HKMA) announcement on April 10 that it had issued two stablecoin issuer licenses. EX.IO, one of the first platforms licensed under Hong Kong’s digital asset regulatory framework, provides services including anti-money laundering (AML), Know Your Customer (KYC), and…

HKMA announced today the recipients of the Hong Kong stablecoin licence under the Stablecoins Ordinance. The much-coveted Hong Kong stablecoin license were awarded to HSBC and Anchorpoint Financial today, 10 April 2026. Both licences take effect immediately. The HKMA stablecoin licence approvals come after months of anticipation since the regulatory regime took effect on 1 August 2025, including weeks of unconfirmed reports and a missed March timeline. The central bank received 36 formal applications by the end of September 2025, and had signalled that it would only grant a small number in the first round. Financial Secretary Paul Chan confirmed…

International travelers in South Korea can now use their iPhone or Apple Watch to pay for public transport through the MobileTmoney app. The service launched with the MobileTmoney transit app on the Apple App Store. Visitors can top up their balance in Apple Wallet using a Mastercard debit or credit card, removing the need for cash or physical transit cards. They can then tap their iPhone or Apple Watch to pay for subways, buses and taxis. The service was launched through a collaboration between MobileTmoney and Apple, powered by Mastercard’s global payments network. Sandeep Malhotra, Executive Vice President, Core Payments,…

Hang Seng Bank has rolled out an e-Passbook service in Hong Kong in a bid to strengthen age-friendly banking. The Hang Seng e-passbook uses Near Field Communication (NFC) technology to let traditional passbook account holders check balances and review transaction history directly from their mobile phones. The service is available from 9 April 2026 at all Hang Seng branches and targets customers who hold a “valid personal HKD Passbook Savings Account” but have not enrolled in the Hang Seng Personal e-Banking platform. After a one-time branch visit to a Hang Seng Bank branch to link a designated mobile device, customers…

Why do so many AI pilots fail in banking even when the technology itself works? In this episode, Vincent Fong, Fintech News Network, speaks with Cynthia Siantar, Head of Investor Relations and General Manager for Singapore at DynaAI, about why banks often struggle to move from AI experimentation to real execution. The conversation explores: why AI pilots get stuck inside large organisations the build vs buy dilemma facing banks what separates banks that get measurable ROI from those that do not how one collections use case created a clear business case for AI where agentic AI and internal copilots may…

Gobi Partners has announced an investment in Transak, a company that provides regulated infrastructure for converting between traditional currencies and digital assets. Founded in 2019, Transak has established its APAC headquarters in Hong Kong. The company is expanding regional integrations with payment networks and banking partners. This is to support regulated digital asset payments across Asia. The platform enables fintech firms and financial institutions to offer bidirectional conversion between fiat currencies and digital assets. All of this is done through a single API. It incorporates identity verification (KYC), anti-money laundering (AML) controls, risk monitoring, licensing requirements, and local payment integrations…

UnionPay has officially released the Agentic Payment Open Protocol (APOP) framework, a solution for agent-based payments designed to enable secure, standardised interactions across agents, merchants, financial institutions, and technology platforms. The framework uses trusted routing to allow plug-and-play integration, simplifying participation in agentic payment processes. The APOP framework manages agent identity lifecycles and supports end-to-end intent management. The framework streamlines user identity management through single sign-on (SSO) and handles payment authorisation, including activation authentication, payment debiting, and user consent verification. APOP streamlines user identity management through single sign-on (SSO) and handles payment authorisation, including activation authentication, payment debiting, and user…