AMINA Bank, a Swiss Financial Market Supervisory Authority (FINMA)-regulated crypto bank, has announced a strategic partnership with Metalpha, a digital asset-focused wealth management firms. The collaboration begins with the distribution of Principal Fund I and is intended to develop further digital asset solutions. Through its Hong Kong subsidiary, AMINA (Hong Kong) Limited, the bank will be among the first regulated crypto service providers to introduce a comprehensive crypto equity exposure product for qualified professional investors in Hong Kong. Michael Benz, Head of APAC at AMINA Bank, said: “Hong Kong has strategically focused on building institutional crypto infrastructure first, and we’re…
Author: Fintech News Hong Kong
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The Securities and Futures Commission (SFC) has reprimanded and imposed a fine of HK$4.2 million on HSBC for breaching disclosure requirements in research reports on Hong Kong-listed securities over an eight-year period. Following a self-report by HSBC, the Hong Kong Monetary Authority (HKMA), in collaboration with the SFC, conducted an investigation. The regulators found that HSBC had failed to disclose, or had made inaccurate disclosures regarding, its investment banking relationships with various companies covered in research reports published between 2013 and 2021. These issues, attributed to deficiencies in HSBC’s data recording and mapping across systems, are estimated to have affected…
The Philippines is the fastest-growing digital economy and home to one of Southeast Asia’s most valuable fintech unicorns. Yet for investors and fintech founders looking to expand, this hidden gem is not top of mind. Lito Villanueva, Chief Innovation and Inclusion Officer at RCBC and Chairman of Fintech Alliance.PH explains why you should be paying attention to the Philippines In this conversation, you’ll hear about: Why the Philippines is the next fintech hotspot Opportunities and gaps in Philippines’ fintech scene AI adoption in the Philippines
SBI Group, one of Japan’s largest financial conglomerates with assets exceeding the equivalent of US$200 billion, has announced a strategic partnership with Chainlink, an oracle platform widely used in the blockchain sector. The collaboration is intended to support the adoption of blockchain technology and digital assets in global markets. Japan’s financial market and its developing digital asset ecosystem are seen as an appropriate environment to test and implement initial applications. The partnership combines SBI’s market experience with Chainlink’s infrastructure for data and interoperability, already in use among financial institutions and decentralised finance applications. The partnership will explore use cases for…
China is considering permitting the use of yuan-backed stablecoins for the first time in a move that could support wider international adoption of its currency, according to people familiar with the matter. If approved, the plan would represent a significant reversal of Beijing’s position on digital assets. Reuters reported that the State Council, China’s cabinet, is set to review and potentially approve a roadmap later this month to expand the use of the yuan globally, partly to keep pace with US efforts on stablecoins. The plan is expected to outline targets for the yuan’s use in global markets, specify the…
Financial sanctions are essential government tools for achieving foreign policy objectives – and compliance is mandatory – but the sanctions landscape can be complex to navigate. Here we unpack some key questions around this important topic. Understand financial sanctions and why they matter. Uncover best-practice approaches for remaining compliant as well as the consequences for non-compliance. Financial sanctions enforce economic and trade bans against foreign jurisdictions and regimes, as well as individuals and entities engaging in harmful activity. In the United States, the Office of Foreign Assets Control (OFAC) is responsible for implementing and enforcing financial sanctions, but the sanctions…
South Korea’s Upstage has secured a US$45 million Series B bridge round supported by Korea Development Bank (KDB), Amazon and AMD, bringing the company’s total funding to US$157 million. The new capital will be used to develop its next generation Solar language model, advance its document AI products, and support market expansion in Asia Pacific and the US. The funding will also strengthen research and development to improve Solar’s capabilities and broaden enterprise applications, including document parsing, automated task execution and workflow management. Upstage recently entered a strategic collaboration with Amazon Web Services (AWS), designating AWS as its preferred cloud…
HashKey Capital has signed a memorandum of strategic collaboration with Tiantu Asset Management (Tiantu AM), a wholly owned subsidiary of Tian Tu Capital. The agreement outlines plans to explore the possible joint establishment of investment funds in the virtual asset sector, with scope for further forms of cooperation in the future. Both HashKey Capital and Tiantu AM are licensed asset managers in Hong Kong and hold virtual asset authorisation under their Type 9 licenses. The collaboration will be conducted in accordance with relevant laws and regulations. HashKey Capital noted the increasing integration of virtual assets and blockchain technology into mainstream…
RayNeo and Ant Group have announced a partnership to develop digital payment solutions for global use. The collaboration will begin with in store payment scenarios, with RayNeo working with Ant Group to explore applications of augmented reality glasses in areas such as everyday services and cross border payments. RayNeo’s X3 Pro AR glasses are the first to support payments through the Alipay Tap! merchant terminal in China, in addition to scanning Alipay QR codes. The feature will also be extended to other RayNeo product lines, including the V3 and V3 Slim. Alipay Tap!, launched by Ant Group in China in…
Finastra has announced that the Japan International Cooperation Agency (JICA) has gone live with its Loan IQ platform. The project, delivered in partnership with IBM Japan, is the first deployment of Loan IQ in Japan and is intended to modernise JICA’s core system for private-sector investment finance. This programme provides loans to private sector projects in developing countries and is expected to continue expanding. The new system enables end-to-end management of international private sector loan transactions and supports lending in Japanese yen, US dollars, euros and local currencies. According to JICA, the platform will help improve operational efficiency and provide…
Japan’s Financial Services Agency (FSA) is preparing to approve the issuance of the country’s first yen-backed stablecoin, with approval expected this autumn. The stablecoin, JPYC, will be issued by Tokyo-based fintech firm JPYC and will maintain a fixed value of 1 JPYC = 1 Japanese yen. According to CoinCentral, JPYC will be backed by highly liquid assets, including bank deposits and Japanese government bonds, to ensure its 1:1 peg to the yen. The approval comes under the revised Payment Services Act, which defines stablecoins as “currency-denominated assets,” distinguishing them from virtual currencies. The launch is expected to attract interest from…
Bank Indonesia (BI) and the People’s Bank of China (PBOC) have begun a series of trials for cross-border QR code payments, linking the QR Code Indonesia Standard (QRIS) with China’s payment system to enable seamless interoperability. According to Antara News, BI Governor Perry Warjiyo said: “The continuous development and innovation of QRIS features aim to expand its acceptance and support digital economic and financial inclusiveness. One of the innovations is the cross-border QRIS.” He explained that the payment interconnection between Indonesia and China would facilitate cross-border trade and financial transactions, particularly for MSMEs, while also encouraging tourism between the two…
ANZ, headquartered in Melbourne, Australia, announced the appointment of Ender Tanar as Country Head for Japan, reporting to Simon Ireland, Managing Director, International, subject to regulatory approval. Tanar is currently ANZ’s Country Head for Germany, a position he has held for nearly seven years. He has previously worked in senior roles at Lloyds Bank, Mizuho, KPMG and JPMorgan Chase & Co. Commenting on the appointment, Ireland said: “Ender is a seasoned banker, with a proven track record working across financial institutions, corporate banking, and debt capital markets. Japan is a key trading partner to both Australia and New Zealand, and…
SUNRATE, a global payments and treasury management platform, has obtained a payment business license in China through the acquisition of a 100% stake in Transfar Pay, a subsidiary of the Shenzhen-listed Transfar Group. The transaction, valued at RMB 315 million (US$ 43.8 million), has been approved by the relevant Chinese regulatory authorities. The deal was previously disclosed by Transfar Group in an exchange filing dated 1 April 2025. “This acquisition represents a strategic step in SUNRATE’s ongoing commitment to enhancing our global licensing framework and ensuring compliant operations in all jurisdictions, whether through direct licensing or strategic partnerships,” said Paul…
The Hong Kong Monetary Authority (HKMA) and the Securities and Futures Commission (SFC) have issued a joint statement in response to recent sharp market movements linked to the stablecoin sector. The regulators noted that these movements appear to have been driven by corporate announcements, media reports, social media posts, or speculation regarding plans to apply for a stablecoin issuer license, participate in related activities, or explore such initiatives in Hong Kong. Some of these claims have also referred to recent interactions with financial regulators in the city. The HKMA reiterated that it takes a robust and prudent approach, applying a…
FWD has marked its 12th anniversary by announcing 12 charitable grants aimed at supporting local communities across Asia. Established in 2013, FWD began operations in Hong Kong SAR, Macau SAR, and Thailand, and now operates in 10 Asian markets, including Cambodia, Indonesia, Japan, Malaysia, the Philippines, Singapore, Thailand, and Vietnam. The grants will support non-governmental organisations (NGOs) working on initiatives related to financial literacy, social entrepreneurship, career readiness, and health and wellbeing. Huynh Thanh Phong, Group Chief Executive Officer and Executive Director of FWD Group, said: “Celebrating our 12th anniversary as a newly listed company makes this milestone especially meaningful.…
AlipayHK will continue waiving fees for Hong Kong taxi drivers to encourage adoption of its e-payment system, as uptake remains low due to persistent reluctance among cabbies. Simon Leung, Alternate Chief Executive of AlipayHK, said the company had introduced several measures to boost usage, including enhancing the ride-hailing experience within its payment app for customers and providing drivers with QR codes that incur no service charges and do not require an internet connection. According to the South China Morning Post, 38,000 of Hong Kong’s 46,000 active taxi drivers have deployed AlipayHK, with 30,000 using the system through a partnership with…
AMINA Bank, a Swiss Financial Market Supervisory Authority (FINMA)-regulated crypto bank, has appointed Michael Benz as Head of AMINA Hong Kong and the wider Asia-Pacific region. Benz has more than 30 years of senior leadership experience, having served as Global Head of Private Banking at Standard Chartered, Chief Executive of Merrill Lynch Wealth Management Asia, and Head of Product & Services at UBS Wealth Management APAC. He will report directly to AMINA Bank Chief Executive, Franz Bergmueller. The appointment follows AMINA Bank’s record performance in 2024, when it reported revenue growth of 69% to reach US$40.4 million. Commenting on the…
Future Fintech, a financial and digital technology services provider, announced that its wholly owned Hong Kong subsidiary, Future International Securities and Futures Limited (Future Securities), has signed a commission agreement with a Hong Kong-based compliance consultant. The consultant will assist the company in applying for a Hong Kong Type 1 Virtual Asset Service Provider (VASP) license from the Securities and Futures Commission (SFC), as well as a Type 9 Asset Management License. This will build on Future Securities’ existing Type 1, 2 and 4 licenses in Hong Kong. Working with Future Fintech’s Real-World Asset division, the consultant will review the…
Investing in the Hong Kong Stock Exchange (HKEX) is a growing trend among local investors tapping into Asia’s momentum. By early 2024, its market cap reached HK$35 trillion, rising to HK$42.7 trillion by mid-2025, ranking it among the world’s top 10 exchanges. Thanks to mobile-first platforms, more Hongkongers in their 20s and 30s are investing in tech IPOs, ETFs, and other products straight from their phones. Whether you’re starting out or adjusting your portfolio, HKEX offers accessible, global exposure close to home. What is the Hong Kong Stock Exchange and Why Does It Matter to Local Investors? The Hong Kong…