HashKey Exchange is expanding its Southeast Asia footprint through a new partnership with Malaysia’s HATA, uniting two licensed digital asset platforms under one regional push. The MoU outlines plans to build a secure and transparent framework for digital asset services, leveraging both firms’ strengths in Hong Kong and Malaysia. The collaboration will focus on technology, regulations, user experience, and business model innovation to support the region’s growing digital finance ecosystem. Both exchanges will assess API connectivity and system integration to improve efficiency and market liquidity. They will also study regulatory frameworks in markets including Hong Kong and Malaysia to establish…

Bybit has announced a partnership with DigiFT to support UBS’s USD Money Market Investment Fund Token (UBS uMINT), the first tokenised investment fund launched by UBS Asset Management. Through this partnership, Bybit will allow shares of UBS’s tokenised money market fund, distributed via DigiFT, to be used as collateral for trading on its platform. The move marks a step forward in Bybit’s efforts to link traditional finance (TradFi) with the digital asset market. The UBS uMINT, issued by UBS Asset Management, is a money market fund built on the Ethereum blockchain. Opened to external investors in November 2024, the fund…

For more than a decade, banks have been busy “going digital”. They built apps, digitised forms, and automated obvious tasks. It worked. Mobile banking became expected, more processes went paperless, and many core systems were moved to the cloud (or at least parts of them). Yet even with all that, many banks still haven’t completed that journey. Globally, over 80% of banks have not fully migrated both their core banking and customer-facing digital channels to the cloud. A recent study also showed that while 91% of banks and insurers have initiated cloud transformation, more than half have moved only minimal…

Charles Hoskinson, co-founder of the Ethereum blockchain and CEO of Input Output, is turning his attention to South Korea as a hub for the next wave of innovation at the intersection of blockchain and AI, technologies he believes hold vast potential for both public and industrial benefit. During a recent visit to Seoul, Hoskinson met with technology leaders and industry stakeholders to explore collaboration opportunities. He commended the South Korean government’s plan to establish a ₩100 trillion (approximately US$70 billion) AI investment fund, expressing strong interest in contributing to the country’s ambitious vision. Speaking to The Korea Herald, Hoskinson said:…

ShopBack has launched ShopBack Pay in Hong Kong, allowing consumers to earn and redeem Cashback directly in-store. As part of the rollout, Octopus, Hong Kong’s most widely used payment method with 98% penetration, has been added to ShopBack Pay, alongside Visa, Mastercard, Apple Pay, and Google Pay. “At Octopus, we’re all about making local spending simple and rewarding. In partnership with ShopBack, shoppers are offered more payment options while enjoying generous rewards. This not only helps local merchants strengthen their existing customer base but also drives local retail market growth,” said Edwin Lai, General Manager, Retail Business & Partnership at…

RedotPay, a fintech company focused on advancing financial inclusion through stablecoin payments, has expanded its integration with the Circle Payments Network (CPN). The company introduced a new feature, “Send Crypto, Receive MXN,” aimed at offering a faster and more affordable payment option for Mexico, one of the world’s largest remittance corridors. The feature allows users to convert between cryptocurrencies and fiat currencies more efficiently. “Cryptocurrencies enable financial inclusion in a way no other asset class ever has. But the real value is in being able to spend, send, and receive crypto as easily as local currency,” said Michael Gao, CEO…

HashKey Group, operator of Hong Kong’s largest licensed cryptocurrency exchange, has confidentially filed for an IPO in the city, according to a Bloomberg report citing sources familiar with the matter. The listing could take place as early as this year, with one source estimating that the company may raise up to US$500 million, though details remain subject to change as discussions progress. HashKey operates trading, venture investment, and asset management businesses across Hong Kong and Singapore. Earlier this year, Gaorong Ventures invested US$30 million in HashKey at a pre-money valuation exceeding US$1 billion. Hong Kong introduced a regulatory framework for…

PT Bank Amar Indonesia (Amar Bank), a digital bank serving retail and MSME segments, has announced that SBI Holdings, a Japanese financial services group, has acquired a stake in the bank. Following the transaction, SBI Holdings holds more than 5% of Amar Bank’s shares, making it the third-largest institutional investor after Tolaram and PT Jagat Raya Imajinasi. President Director of Amar Bank, Vishal Tulsian, said: “We aim to collaborate with their portfolio of companies and leverage their strong financial services ecosystem to share expertise, build synergies, and ultimately deliver even greater value to our retail and MSME customers across Indonesia.”…

Binance Japan and PayPay Corporation have entered into a capital and business alliance aimed at advancing digital finance in Japan. As part of the agreement, PayPay has acquired a 40% equity stake in Binance Japan. The partnership combines PayPay’s user base and experience in cashless payment infrastructure with Binance’s blockchain expertise and leadership in digital assets. The collaboration will focus on developing products and services that integrate cashless payments with digital assets, providing a more seamless financial experience for users. Initially, the alliance will enable Binance Japan users to make deposits and withdrawals via PayPay Money, a digital wallet service…

Anthea Holding, a global crypto-fintech group offering life insurance products denominated in cryptocurrencies through its wholly owned subsidiary, Anthea Insurance, has announced the completion of a US$22 million Series A funding round. The company, which seeks to integrate life insurance with digital assets, has drawn significant interest from international investors. The round was led by Yunfeng Financial Group, with participation from a range of strategic and financial investors specialising in insurance, asset management, and fintech innovation. The funding marks a key milestone in Anthea’s effort to modernise life insurance for the digital economy. The investment will support the launch of…

Visa-free access to destinations such as Malaysia, Singapore, South Korea, and Thailand helped boost spending by Chinese tourists, according to Weixin’s latest National Day and Mid-Autumn Festival report. Weixin Pay’s cross-border transactions rose 21 percent year-on-year during the first five days of October, reflecting strong outbound travel demand. Transportation bookings made through Weixin Mini Programs increased 2.5 times, driven by platforms such as Uber, Grab, and DiDi, as well as rail services like Korail in Korea and Frecciarossa and Italo in Italy. Hong Kong and Macao remained the top destinations for mainland tourists, recording the highest cross-border payment volumes. Ride-hailing…

HSBC announced that it, together with its wholly owned subsidiary, The Hongkong and Shanghai Banking Corporation Limited (HSBC Asia Pacific), has made a conditional proposal to take Hang Seng Bank private through a scheme of arrangement. If approved, HSBC Asia Pacific would acquire all remaining shares held by minority shareholders and Hang Seng shares would be withdrawn from the Hong Kong Stock Exchange. The Proposal offers HK$155 for each Hang Seng share, representing a 33% premium over the 30-day average closing price of HK$116.5 per share. This reflects a significant increase compared with Hang Seng’s historical trading prices and analyst…

Everywhere you look today, identity is the real currency. Whether you’re opening a bank account or applying for government services, the same question comes back again and again. Who are you, and how can anyone be sure? That question has grown far beyond the teller’s counter. It now runs through the veins of the global economy, shaping how governments roll out digital services and how banks try to balance security with convenience. Digital identity has not-so-quietly become the infrastructure for growth, trust, and even inclusion. The Push to Make Identity Digital Fabrice Jogand-Coulomb, who is the Vice President of Mobile…

Fraud and scams are on the rise in Southeast Asia, from job scams and forced scam centers to deepfake impersonations and multimillion-dollar corporate fraud. In this episode of Banking After Hours, I’m joined by Julius Rajeswaran, COO of ‪Ryt Bank, and Tai Vo, Director of Market Planning, Fraud & Identity, APAC at ‪LexisNexis Risk Solutions‬, to explore: Why Southeast Asia is a hotbed for scams How digital banks like Ryt Bank are rethinking fraud prevention The role of AI, behavioral data, and consortium-level intelligence Best practices from leading banks across the region

Asia Insurance, a general insurer in Hong Kong and Macau, has gone live with CoverGo’s next-generation, end-to-end health insurance platform to support a fully digital experience for customers, distribution partners, and internal teams. The rollout marks a key step in Asia Insurance’s ongoing digital transformation, streamlining the customer journey from digital quotation to claims processing. Through CoverGo’s flexible, API-driven platform, partner agents can collect customer data efficiently during the sales process, while Asia Insurance’s teams can manage applications through the Admin Portal. Policyholders can also access a digital-first experience via the Member Portal, where they can submit and track health…

Hong Kong has launched the Task Force on Supporting Mainland Enterprises in Going Global (GoGlobal Task Force) to strengthen its role as a strategic base for Mainland companies expanding into international markets. The initiative, led by Secretary for Commerce and Economic Development Algernon Yau and witnessed by Financial Secretary Paul Chan, was introduced as part of the 2025 Policy Address. It aims to integrate Hong Kong’s overseas offices, Invest Hong Kong (InvestHK), the Hong Kong Trade Development Council, and the city’s Mainland offices into a one-stop platform to attract Mainland enterprises seeking to expand overseas through Hong Kong. At the…

Obita, a Hong Kong-based enterprise-level cross-border payments and digital financial network, has signed a MoU with YY Group, a Singapore-headquartered global workforce solutions and integrated facility management (IFM) provider. Under the agreement, YY Group will integrate Obita’s stablecoin-based payment infrastructure into its workforce platforms and corporate operations, supporting receivables, payables and treasury management. Obita stated that its infrastructure is designed to streamline cross-border settlements while maintaining regulatory compliance and security. The platform includes enterprise-level controls such as role-based approvals and real-time transaction monitoring. Both companies said the collaboration aims to improve financial access for gig workers, particularly in emerging markets.…

The Hong Kong Monetary Authority (HKMA), in collaboration with the Hong Kong Science and Technology Parks Corporation (HKSTP), has launched the IADS Developer Hackathon, with a Kick-off Ceremony held on October 2. The event marks the start of a multi-month programme aimed at fostering innovation in the Interbank Account Data Sharing (IADS) initiative and advancing banking services through secure, customer-consented data sharing. Organised by HKSTP, the IADS Developer Hackathon will run from October 2025 to March 2026. It brings together participants from the banking sector and fintech firms globally to develop solutions leveraging IADS to support digital transformation in Hong…

Visa has announced that several major payment platforms in Hong Kong, including Adyen, AsiaPay, OpenRice, Worldpay and 2C2P, have integrated Click to Pay into their merchant networks. The move enables Visa cardholders to use one-click checkout for lifestyle, travel and F&B online platforms, without the need to manually enter card details or remember passwords. As online shopping becomes increasingly common, Visa said Click to Pay is designed to shorten checkout times to under a minute. Registered cardholders can bypass form fields and card number entry while maintaining transaction security. For merchants, the integration is intended to reduce cart abandonment and…

Hong Kong’s WeLab Bank remained profitable in the first half of 2025, reporting revenue of about HK$460 million, a year-on-year increase of roughly 70 percent. The bank said growth was supported by credit management and risk controls, alongside flexible pricing strategies. Net interest income reached HK$430 million, also up about 70 percent compared with the same period last year. The net interest margin rose to 10.7 percent, well above the market average, while its cost-to-income ratio improved 40.3 percent year-on-year. The loan-to-deposit ratio stayed around 80 percent. WeLab Bank said its credit performance held steady despite economic challenges. While the…