Bank Indonesia (BI) aims to expand the use of the Quick Response Code Indonesian Standard (QRIS) for cross-border payments with China and South Korea by the first quarter of 2026. This move forms part of efforts to strengthen digital payment acceptance and extend the national payment system internationally. According to CNN Indonesia, BI Governor Perry Warjiyo said the central bank is preparing the implementation of QRIS between Indonesia and the two countries. “Strengthening the digital acceptance strategy through the preparation of QRIS implementation between Indonesia and China, and Indonesia and South Korea around the first quarter of 2026,” Perry stated…

Financial service platform Chocolate Finance has officially launched its operations in Hong Kong, expanding from its existing Singapore business. Founder Walter de Oude said in a LinkedIn post, “After two years of making money happy in Singapore, Chocolate Finance Hong Kong is live and kicking and bold and beautiful.” The team in Hong Kong developed the offering over the course of a year, applying insights and experience from the company’s Singapore operations. The team in Hong Kong, led by Tim Jones, has designed the platform to provide competitive rates relative to traditional bank offerings. De Oude added, “We have carefully…

Fiserv, a global provider of payments and financial services technology, has announced a strategic partnership with Sumitomo Mitsui Card Company (SMCC). The partnership will introduce Fiserv’s Clover suite of products to Japan. The collaboration aims to provide an integrated payments and business management platform for retail, food and beverage, and professional service small businesses (SMBs) in the country. Fiserv plans to launch the Clover suite in Japan in late 2026. The company will adapt it to the local business environment and support the national target of raising cashless payments to 65% by 2030. The platform will include multi‑store support, smartphone-based…

We’ve moved from Cash to Cards, and Cards to QR. Is your face the next wallet? Or will “Tap to Pay” on smartphones dominate the future of payments in Asia? Fintech News Network Chief Editor Vincent Fong sits down with Sam Su, CMO of SUNMI, to debate the future of payment hardware. While “Face Pay” has seen massive adoption in China, Southeast Asia is still a battleground between QR codes and the rapidly rising “SoftPOS” (Tap to Pay) technology. In the same interview Sam also revealed to us the future direction of SUNMI.

The Hong Kong Monetary Authority (HKMA) and the Hong Kong Association of Banks (HKAB) announced that the banking sector will implement the Guideline on Elderly-friendly Banking Services and the second edition of the Practical Guideline on Barrier-free Banking Services. The two industry guidelines are issued by the HKAB and endorsed by the HKMA. The Guideline on Elderly-friendly Banking Services sets out standards to support elderly customers’ access to banking services. It aligns with the Government’s efforts to promote the silver economy. The guideline outlines eight core principles and a number of recommended practices for banks. These include measures to strengthen…

The Hong Kong Monetary Authority (HKMA) cautioned members of the public to remain vigilant against fraudulent social media accounts impersonating the HKMA and its Chief Executive, Eddie Yue. The HKMA releases official announcements, news updates and information on its work priorities only through its official channels. These include its website and verified social media accounts. Details of these official platforms are available on the HKMA website. Any social media accounts or pages claiming to represent the HKMA or its Chief Executive outside these official channels are fraudulent. Members of the public should disregard information disseminated via suspicious websites, social media…

Airwallex has completed the acquisition of Paynuri, gaining the licences required to enter the South Korean market. Paynuri holds Payment Gateway and Prepaid Electronic Payment Instrument licences, as well as a Foreign Exchange Business registration. The acquisition allows Airwallex to operate regulated payment and foreign exchange services locally, serving Korean companies expanding overseas and international firms operating in Korea. Airwallex plans to launch global business accounts and payment acquiring services first, with additional products scheduled for rollout in 2026. The company said the move will give Korean businesses access to tools for managing cross-border payments, multi-currency accounts and international transfers…

In this interview, Fintech News Network Chief Editor, Vincent Fong sits down with Roger Wang (Huawei) and Wizard Hee (Netis Technologies) to uncover how the Huawei RongHai Program is helping banks skip years of development time. From the “Gandalf” project in Singapore to migrating core banking systems in less than 10 months, we explore why over 150 fintech partners have joined forces with Huawei to build the future of banking infrastructure.

South Korea’s customs authorities said on Monday (19 January) that they have uncovered an international crime ring accused of laundering around 150 billion won in cryptocurrency through an unauthorised foreign exchange scheme. The Korea Customs Service has referred three Chinese nationals to prosecutors for alleged violations of the Foreign Exchange Transactions Act, Yonhap reported. The suspects allegedly laundered 148.9 billion won between September 2021 and June last year. They did so by exploiting domestic and overseas cryptocurrency accounts alongside South Korean bank accounts, the agency said. Authorities said the suspects disguised the transfers as legitimate expenses. These included cosmetic surgery…

For an economy where trade accounts for more than three times its GDP, inefficiencies in trade finance are a critical roadblock. They affect how capital moves, how quickly goods flow, and which businesses are able to access financing. In response to this challenge, Hong Kong has unveiled a roadmap to modernise its trade finance landscape through to 2030. The initiative, called Project CargoX, aims to transform Hong Kong into a trusted, data-driven hub for digital trade finance. Developed by a panel of more than 20 experts from banks, data providers, credit reference agencies, export credit insurers, government agencies, international organisations,…

Virtual insurer OneDegree has reported its first full-year profit in 2025, becoming one of Hong Kong’s virtual insurance companies to achieve profitability. The company reached this milestone just over five years after commencing operations in 2020, marking the fastest route to profitability among Hong Kong’s virtual financial institutions, including virtual insurers and digital banks. For 2025, OneDegree recorded total revenue of HK$330 million, representing a year-on-year increase of 38%, while operating costs remained broadly stable. Since its launch, the company has delivered a compound annual growth rate of over 100%. Its overall policy renewal rate is expected to reach 90%…

The 19th Asian Financial Forum (AFF), co-organised by the Hong Kong SAR Government and the Hong Kong Trade Development Council (HKTDC), will be held on 26-27 January 2026 at the Hong Kong Convention and Exhibition Centre. The forum adopts the new tagline “Finance Empowering Business” and the theme “Co-creating New Horizons Amid an Evolving Landscape”. More than 140 financial officials, business leaders, and experts will attend AFF. More than 3,600 participants from over 60 countries and regions will join. The programme focuses on collaboration to address economic and structural change. Discussions will cover the global economic outlook, asset and wealth…

China’s digital yuan has moved beyond pilot status, with transaction volumes now exceeding US$2 trillion and cross-border settlement activity accelerating. That shift is increasingly visible beyond China’s domestic payments system, as Project mBridge has expanded rapidly since the Bank for International Settlements (BIS) stepped back from direct involvement in late 2024, according to analysis by the Atlantic Council. By late 2025, China’s central bank digital currency, the e-CNY, had processed more than 3.4 billion transactions worth about 16.7 trillion renminbi, or roughly US$2.3 trillion, based on data released by the People’s Bank of China (PBOC). That represents growth of more…

The Hong Kong Monetary Authority (HKMA) published the “Project Cargox Recommendation Report”, setting out 20 recommendations and a roadmap to modernise Hong Kong’s trade finance sector. Since the launch of Project Cargox, the HKMA has convened an Expert Panel of 24 industry professionals from banks, cargo data providers, credit reference agencies, export credit insurers, government bodies and international organisations. The panel contributed to the recommendations and development roadmap, finalised in December 2025. The report outlines three strategic pillars. The Data pillar aims to accelerate data-driven trade finance automation by integrating government cargo and trade data and providing access to historical…

Fujitsu Limited and SC Ventures have announced the launch of Qubitra Technologies. It is a joint venture aimed at advancing quantum computing applications and building a global quantum ecosystem. Previously incubated as Project Quanta in September 2025, Qubitra will operate from the UK. The company will focus on high-performance applications and a marketplace platform for quantum software and hardware providers. Vishal Shete, CEO of Qubitra, said: “Our mission at Qubitra is to turn quantum innovation into business impact by combining high-performance applications with a collaborative ecosystem that advances the industry.” Alex Manson, CEO of SC Ventures, added: “Qubitra, with access…

Arcesium, a provider of investment lifecycle and data management technology for the global investment industry, has opened a new office in Hong Kong. The move expands the firm’s operations in Asia. The Hong Kong office will support Arcesium’s existing clients across the Asia-Pacific region. These include institutional asset managers, hedge funds, banks and private markets firms. It will also provide technology and operational services for new fund launches and regional expansions. Gaurav Suri, Chief Executive Officer of Arcesium, said: “We are pleased to establish a presence in another major financial centre, building on our operations in Europe and the US.…

Visa announced that it will support Chinese-issued Visa cards on Apple Pay for use at overseas Visa-accepting merchants, enabling in-store, in-app and online payments outside mainland China. The service allows cardholders to add eligible Visa cards from participating Chinese banks to Apple Pay. Visa said 79% of global in-person transactions are now made using contactless NFC payments. Yin Xiaolong, General Manager at Visa Mainland China, said: “As global digital payments develop rapidly, consumers increasingly expect mobile payment solutions that are smartphone-based and interoperable. Visa has long been committed to providing Chinese cardholders with diverse payment options, enabling them to enjoy…

WeLab has closed a US$220 million Series D strategic financing round, comprising a mix of debt and equity. The raise is the largest digital banking capital raise in Asia so far in 2025 and the biggest funding round in the company’s history. The round attracted new investors alongside continued support from existing shareholders and strategic capital partners, including Prudential Hong Kong Ltd, Fubon Bank (Hong Kong), Hong Kong Investment Corporation (HKIC), TOM Group, Allianz X, and HSBC. The funding will support WeLab’s expansion in Southeast Asia and further development of its Hong Kong business, including broader product offerings and customer…

Digital banking in Asia was supposed to change the world. Five years later, did it live up to the hype? In this in-depth retrospective, Vincent Fong (Chief Editor, Fintech News Network) sits down with David Becker (Managing Director, Head of APAC Sales, Mambu) to unpack the last five years of the digital banking boom. They discuss why the predicted “death of traditional banks” never happened, how incumbents managed to adapt so quickly, and why the real revolution is happening in rural financial inclusion rather than just glossy apps. From the technical challenges of cloud-native infrastructure to the “boring but important”…

Japanese electronics group Sony has partnered with insurtech company bolttech to launch My Sony Care+, an embedded protection programme offering extended coverage for selected devices. The programme is supported by Tokio Marine and builds on Sony’s existing My Sony Care extended warranty service. My Sony Care+ adds complimentary accidental and liquid damage (ADLD) cover to standard warranty protection. From mid-December, the programme is available in Hong Kong for Sony cameras and lenses. Coverage will expand in 2026 to include additional products such as Xperia smartphones, televisions, portable music players and over-ear headphones. Customers can purchase the plan within 30 days…