Standard Chartered Bank Hong Kong (SCBHK) has joined the first group of banks in Hong Kong to roll out cross-border payment services via the Faster Payment System (FPS) for offshore financial institutions and paytech firms. The service, effective immediately, enables real-time, 24/7 cross-border payments of up to HKD or CNY 1 million to local recipients in Hong Kong, including on public holidays. Transactions above this threshold will continue to settle through the Real-Time Gross Settlement system (RTGS). Under the model, SCBHK acts as a correspondent bank, receiving cross-border payments via SWIFT from offshore institutions and paytech firms. It then processes…

Kaia DLT Foundation has announced plans to formally enable the issuance and circulation of a won-based stablecoin on its network infrastructure in the first half of 2027. The initiative follows the completion of a proof-of-concept (PoC) focused on cross-border remittances, conducted in collaboration with major commercial banks and partners including Lambda256, AhnLab Blockchain Company, and OpenAsset. The PoC demonstrated significant efficiency gains compared to traditional remittance systems. “When sending money overseas through the commercial bank remittance system based on SWIFT, settlement takes one to three business days and fees are about 9,600 won,” said Seo Sang-min, Chair of Kaia DLT…

Bank Indonesia and the Bank of Korea have launched cross-border QR payment connectivity between Indonesia and South Korea, allowing Indonesians to make transactions in South Korea using QRIS through domestic applications without exchanging currency. Transactions use the local currencies of both countries, improving efficiency and lowering costs. The initiative forms part of the Joint Vision Statement signed by President Prabowo Subianto and President Lee Jae Myung. Governor Perry Warjiyo, said: “The launch not only facilitates transactions but also strengthens MSMEs, boosts tourism, and opens new opportunities for businesses, supporting inclusive and sustainable economic growth.” Deputy Governor of the Bank of…

The Hong Kong Monetary Authority (HKMA) has yet to issue its first batch of stablecoin licenses, missing an earlier target of March 2026. In February, Secretary Paul Chan said that Hong Kong will issue its first licenses for fiat-referenced stablecoin issuers in March and introduce new legislation later this year covering crypto asset dealers and custodians. At the time of writing, the HKMA’s public register did not list any licensed stablecoin issuers. The HKMA had previously established the Stablecoin Issuer Sandbox for prospective issuers to test operational plans, an initiative that saw participation from major financial institutions. As previously reported,…

Digital wallets have surpassed cards for the first time in the city’s payments landscape, according to the Global Payments Report 2026 by Worldpay, now Global Payments. In 2025, digital wallets accounted for 41% of e-commerce value and 45% of point-of-sale (POS) transactions, making them the most widely used payment method. Consumers in Hong Kong have access to a broad range of wallet options, including local versions of mainland platforms such as Alipay HK and WeChat Pay HK, global services like Apple Pay, Google Pay, and PayPal, and local players including Octopus Wallet and PayMe. An extensive contactless payment infrastructure, notably…

HSBC has appointed Max Xu as Head of International Wealth and Premier Banking (IWPB), HSBC China, and Samuel Chen as Head of Private Bank, HSBC China, both effective 1 April 2026. The appointments form part of the bank’s strategy to expand its wealth business in mainland China. Mainland China remains central to HSBC’s ambition to grow its wealth business in Asia and the Middle East. In 2025, the bank’s Wealth business in China reported a 37% year-on-year increase in invested assets, supported by growth in Private Banking and wealth distribution. Max Xu, previously Head of Premier Banking, IWPB China, joined…

OSL Group reported its annual results for the year ended 31 December 2025. The company said it recorded growth during the year and shifted its strategy towards stablecoin payments and trading. Core operating income rose 150.1% year-on-year to HK$534 million, while total income increased 30.4% to HK$489 million. Total platform trading volume reached HK$201.22 billion, marking a 200.7% increase from the previous year and stablecoins accounted for 60% of total trading volume. OSL said it generated 67% of its income from overseas markets, compared with 33% from Hong Kong. Kevin Cui, Executive Director and Chief Executive Officer of OSL Group,…

JCB has announced that JCB-branded credit cards issued by Union Bank of Taiwan and Bank SinoPac will, for the first time outside Japan, support JCB Contactless payments via Google Pay from 31 March 2026. JCB will roll out the service on 31 March 2026, marking the first time it has made this functionality available outside Japan and enabling cardholders to use their mobile devices to make contactless payments through Google Pay. The expansion builds on JCB’s earlier introduction of Google Pay support in Japan, where cardholders were first able to add JCB-issued cards to Google Wallet and make contactless payments…

Mastercard has completed its first live, authenticated agentic transaction in Hong Kong, a step towards AI-powered commerce. This follows the announcement of its new regional AI Center of Excellence in Singapore, which will become the company’s largest innovation hub in the region. The transaction, conducted with HSBC and DBS Hong Kong, involved an AI agent booking a ride to Hong Kong International Airport through hoppa, a global mobility provider. CardInfoLink’s AI agent processed the booking and payment, connecting directly to hoppa’s taxi and airport limousine network. All Mastercard card types issued by Hong Kong banks, including Citi Hong Kong, Hang…

The Hong Kong Monetary Authority (HKMA) has received enquiries from members of the public concerning fraudulent social media posts impersonating Eddie Yue, Chief Executive of the HKMA. The posts featured fabricated news footage alleging that the Chief Executive had appeared on a television programme. They also included a link intended to lure individuals into a fraudulent investment scheme and to obtain their personal information. The HKMA wishes to clarify that the news footage and related posts are entirely fabricated. It does not contact members of the public regarding personal financial matters. Members of the public are advised to disregard any…

If the startup world is one big pizza party, female founders are still only walking away with a single slice. Despite a recovering market, only 12% of deal funding is going to women. Where is the rest of the capital going, and why is the system structurally built to ignore female ambition? In this episode, we sit down with Sarah Lim (Investment Partner, OSK Ventures) and Rejina Rahim (Founder, Wahine Capital) to uncover the hard truths of the Venture Capital ecosystem in Southeast Asia. We move past the surface-level “diversity” buzzwords to address the real roadblocks: from the staggering lack…

Bursa Malaysia and Hong Kong Exchanges and Clearing Limited (HKEX) are expanding cross-border market ties with a new large-cap index and a broader cooperation agreement. As the first initiative under the agreement, the exchanges unveiled the HKEX Bursa Malaysia Large Cap Index. The benchmark combines 30 large-cap companies listed in Malaysia and 30 listed in Hong Kong. The index is intended to strengthen capital market links between the two markets and could support future cross-market investment opportunities, including ETFs. Bursa Malaysia and HKEX will explore ways to streamline dual listing pathways, co-develop market-driven indexes, improve access to and promotion of…

The Hong Kong Monetary Authority (HKMA) and the Hong Kong Science and Technology Parks Corporation (HKSTP) on 27 March 2026 announced the winners of the Interbank Account Data Sharing (IADS) Developer Hackathon at the IADS Developer Conference, held at Hong Kong Science Park. The event concludes a six-month programme aimed at advancing the use of the IADS framework. Launched in October 2025, the hackathon brought together banks and fintech firms to develop customer-consented data-sharing solutions, with a focus on improving digital banking capabilities. Following a selection and mentorship process, five finalist teams presented their solutions to a judging panel. The…

OKI, Hitachi, and Hitachi Channel Solutions have announced that they have reached agreements to integrate their automated equipment businesses, including ATMs, and to establish a joint venture company for this purpose. Under the terms of the Integration Agreement, OKI will transfer its business responsible for the development and production of automated equipment, including ATMs, to Hitachi Channel Solutions, a wholly owned subsidiary of Hitachi, through an absorption-type split. Following this transfer, OKI will acquire a portion of Hitachi Channel Solutions’ shares, resulting in the establishment of a joint venture. The planned ownership structure will be 60% for OKI and 40%…

Alchemy Pay has announced that, in partnership with HTF Securities Limited, it has successfully expanded HTF Securities’ SFC Type 1 (Dealing in Securities) license to cover virtual asset dealing services for both professional and retail investors. This follows a previously announced upgrade of HTF Securities’ Type 4 (Advising on Securities) license. With the planned Type 9 (Asset Management) upgrade, the combination of Type 1, 4, and 9 licenses will offer a comprehensive set of financial permissions within Hong Kong’s regulatory framework. Alchemy Pay and HTF Securities continue to collaborate on the Type 9 application to broaden virtual asset service capabilities.…

Ping An Digital Bank has introduced a new brand identity, aligning more closely with its parent, Ping An Insurance. The bank said the update reflects its integration within the group and its focus on combining banking with insurance and wealth services. Ronald Iu, Chief Executive of Ping An Digital Bank, said: “We are delighted to unveil a brand new Ping An Digital Bank. This better reflects our deep connection with Ping An Group, integrating our ‘insurance DNA’ directly into our banking services and reinforcing our role as an integrated financial platform in Hong Kong. Our team remains focused on building…

Futu has announced that its wholly-owned virtual asset trading platform, PantherTrade, has begun full-scale licensed operations. PantherTrade will integrate with Futu Securities, the Group’s retail brokerage platform in Hong Kong, providing trade matching, custody, and technical infrastructure. This integration enables dual-track operations for traditional finance and virtual assets within a regulated framework. PantherTrade is the first brokerage-incubated virtual asset trading platform in Hong Kong to obtain full-scale operational authorisation. The platform’s licensed status allows Futu to offer both securities brokerage and virtual asset exchange services, creating a combined financial infrastructure for trading and related services. The Group intends to leverage…

Mastercard has completed a live, authenticated agentic transaction in South Korea, marking a key development in AI-powered commerce. Agentic commerce refers to systems where AI agents search for, select, and make purchases on behalf of cardholders. In this instance, an AI agent carried out a live ride-booking purchase through global mobility provider hoppa, using Mastercard’s AI payments infrastructure. The transaction, facilitated by CardInfoLink and connected to hoppa’s platform, involved the AI agent automatically searching for available transportation, booking a ride, and securely paying for a car service from Incheon International Airport to a hotel in Gwanghwamun, Seoul. This was enabled…

In East Asia, Mainland China represents the region’s biggest and most influential fintech markets, marked by the ubiquity of mobile payments, and the widespread adoption of super-apps. These apps, which include Alipay and WeChat Pay, are now deeply embedded into everyday life, offering entire ecosystems that allow users to pay bills, book travel, invest money, get loans, order food, and message friends. Hong Kong is another prominent fintech hub in East Asia. It’s a financially sophisticated market but which is smaller in size than Mainland China with about 1,200 fintech companies in 2025. The city has positioned itself as a…

DBS and Bank of China (BOC) have announced plans to strengthen their long-standing partnership, focusing on financial innovation to support trade and investment across the region. Key areas of cooperation include fintech development, regional connectivity, cross-border RMB solutions, third-party market expansion, and sustainable finance. The banks will leverage their respective strengths to deepen strategic cooperation in China and regional overseas markets, including Singapore, Indonesia, and Vietnam. Initiatives aim to facilitate cross-border trade, support Chinese companies expanding abroad, and enable global enterprises and long-term investors to access the Chinese market. Tan Su Shan, CEO of DBS Group, said: “Economic and trade…