At Money20/20 Asia, we sat down with Jaykie Tan, Head of Business Development APAC at Mambu, and Cecilia Tan, Regional VP at Thredd, to unpack one of fintech’s biggest questions: Are e-wallets or digital banks better positioned for profitability, innovation, and financial inclusion in Southeast Asia?

The Hong Kong Monetary Authority (HKMA), the Securities and Futures Commission (SFC), the Insurance Authority (IA), and the Mandatory Provident Fund Schemes Authority (MPFA) have jointly launched the Anti-Scam Consumer Protection Charter 3.0. This initiative builds on earlier versions introduced in 2023 and 2024 and expands collaboration between financial regulators, telecommunications providers, and technology platforms to address rising financial fraud and scams in Hong Kong. It formalises a non-legally binding commitment by participating institutions to adopt a set of principles aimed at identifying and reducing online scams targeting consumers. The Charter introduces six key principles that institutions are encouraged to…

Eric Trump, the second son of US president Donald Trump, is set to speak at the upcoming Bitcoin Asia 2025 conference in Hong Kong, as the city continues its efforts to establish itself as a global centre for digital assets in competition with the US. According to the South China Morning Post, conference organiser BTC Inc announced on July 8 that Trump will discuss bitcoin’s “long term potential” and its implications for global finance, as well as “how Asia is shaping the future of bitcoin adoption”. Bitcoin Asia, the regional edition of the Bitcoin Conference, one of the world’s largest…

ECHO ASIA, partnering with students from Global Business Studies, CUHK Business School, announced the release of the Hong Kong’s Digital Banking User Experience Survey 2025 on 7 July 2025. The said Hong Kong digital banking survey collected responses from 508 Hong Kong residents via an online questionnaire. Of these, 361 complete responses were analysed. Founder of ECHO ASIA, Samson Tong, elaborated: “This survey offers insights into the latest developments in Hong Kong’s digital banking landscape, as well as the experiences and needs of Hong Kong users, providing the industry with a multi-faceted market analysis.” Next, Fred Ku, Associate Dean of the CUHK Business School and Co-Director…

Invest Hong Kong (InvestHK) announced on 7 July 2025 that it supported over 1,300 overseas and Mainland companies in setting up or expanding in Hong Kong between January 2023 and mid-2025. These efforts brought in more than HK$160 billion in foreign direct investment and created over 19,000 jobs in the first year of operation or expansion, strengthening the local job market and reinforcing Hong Kong’s role as a leading business hub in Asia. InvestHK has crossed its key performance indicators (KPIs) set in the 2022 Policy Address, reaching its targets well ahead of schedule. From January 2023 to the first…

ZhongAn Online P & C Insurance Co., Ltd (Zhong An, HKEX:6060) announced the completion of its H share placement on 4 July 2025. The company raised gross proceeds of about HK$3.92 billion (US$500 million). The ZhongAn H share placement is said to be the company’s first equity financing since its IPO in 2017, a move which will help the company enhance its growth strategy. A total of 215 million new H shares have been issued at HK$18.25 per share, representing approximately 12.76% of ZhongAn’s enlarged share capital. The net proceeds from the Zhong An H share placement will be put…

Digital wallets and cryptocurrencies are two of the most targeted channels for fraud this year, according to SEON’s 2025 Digital Fraud Outlook, making the stakes higher than ever. This surge brings with it opportunity and the heightened risk of fraud. As more transactions move online, fraudsters are leveraging increasingly advanced tactics to exploit vulnerabilities in onboarding and transaction processes. Traditional fraud prevention methods are struggling to keep up with the sheer scale and speed of today’s changing threat landscape. Synthetic identity fraud now ranks among the top five threats keeping fraud teams up at night, particularly in mobile-first, high-growth markets…

Hong Kong is hitting the gas when it comes to fintech innovation, regulation and adoption. From the passage of the Stablecoin Bill in May 2025 to the launch of Payment Connect just last week, the city is making tactical moves that are big and effective. But what’s driving its momentum? Our latest 2025 Hong Kong Fintech Report delves into the engine room, examining key players in its vast fintech ecosystem, the evolution of its regulatory framework, the financial performance of its digital banks, and where the ecosystem is headed next. A Snapshot into Key Players Dominating the Fintech Arena As of…

DigiFT, a Singapore-based digital asset platform focused on institutional-grade tokenised real-world assets (RWAs), has obtained Type 1 and Type 4 licenses from the Hong Kong Securities and Futures Commission (SFC). This makes it one of the first licensed platforms in the city offering regulated distribution and advisory services for tokenised securities using smart contract-based infrastructure. With the Type 1 license for dealing in securities, DigiFT can now provide institutional and accredited investors in Hong Kong with regulated access to tokenised RWAs. The Type 4 license, which covers advising on securities, allows the firm to offer compliant investment advisory services within…

Japan’s JCB has announced that JCB cardholders can now use their contactless cards to access the subway systems in Shanghai and Beijing without the need to purchase tickets in advance. The new service allows JCB cardmembers to tap their contactless cards at subway gates or designated readers to pay fares directly. It is now available to overseas travellers and applies to all underground lines in both cities. In Shanghai, this includes all 21 lines and 517 stations; in Beijing, the service covers all 29 lines and 523 stations. Airport routes are also supported. This marks the first instance of contactless…

Hong Kong’s Financial Services and the Treasury Bureau (FSTB) has issued an updated policy statement setting out the Hong Kong government’s approach to the development of digital assets. The statement outlines a strategy aimed at integrating digital assets into the city’s financial system and broader economy, while maintaining regulatory standards, financial stability, and investor protection. This second policy statement builds on the framework introduced in 2022, introducing a structured plan to support digital asset activities across legal, product, operational, and talent development areas. The Government will implement a unified regulatory regime covering digital asset exchanges, stablecoin issuers, dealing and custodian…

Across Asia-Pacific (APAC)’s key wealth management hubs, Hong Kong is emerging as the frontrunner in wealthtech, overtaking Singapore in adoption. According to a new report by Quinlan and Associates, and Allfunds Asia, a staggering 93% of Hong Kong investors have accessed digital wealth services in the past two years. This surpasses Singapore’s figure of eight percentage points, which stands at 85%. Further illustrating this trend, 74% of Hong Kong investors reported using robo-advisors, 15 points higher than Singapore. Additionally, 52% said they are comfortable receiving guidance from artificial intelligence (AI), compared to just 27% in Singapore, representing a gap of…

Capital expenditure on AI in China is expected to reach between 600 billion yuan and 700 billion yuan (US$84 billion to US$98 billion) in 2025, according to a report by Bank of America (BofA), as Beijing accelerates its push to rival the United States in a critical technology race. The South China Morning Post reported that this projection would mark up to a 48% increase from 2024 levels, reflecting a sharp rise in enthusiasm for AI development across the mainland. “Obviously China and the US are competing with each other,” said Matty Zhao, co-head of China equity research at BofA…

Ant Group has launched a new AI-powered healthcare application, AQ, marking a significant step in its expansion into the healthcare sector. The app offers more than 100 AI-enabled functions, including medical report interpretation, doctor recommendations, and personalised health advice. It also provides access to digital services from over 5,000 hospitals and close to one million doctors throughout China. The move comes amid growing pressure on China’s healthcare system, with the country’s National Health Commission projecting that by 2035, over 400 million people, more than 30% of the population, will be aged 60 or above. This demographic trend is expected to…

The Hong Kong Monetary Authority (HKMA) has detailed the next steps for implementing the Stablecoins Ordinance, which establishes a licensing regime for fiat-referenced stablecoin issuers in Hong Kong. The Ordinance, passed by the Legislative Council in May 2025, will come into effect on 1 August 2025. The new framework is designed to strengthen regulation of digital asset activities and mitigate associated financial and monetary risks. The HKMA is currently conducting industry consultation on implementation guidelines and will begin accepting licence applications after the Ordinance takes effect. Eddie Yue, Chief Executive of the HKMA, stated, “A stablecoin is not an investment…

The Hong Kong Monetary Authority (HKMA) and the Hong Kong Association of Banks (HKAB) jointly organised the launch ceremony for the Smart Seniors Anti-Scam Ambassador Programme on 23 June 2025. Both the HKMA and the banking sector have been actively promoting anti-scam awareness through multiple channels. One key initiative is the Smart Seniors Anti-Scam Ambassador Programme, which focuses on educating the elderly about scam prevention. By visiting elderly centres across all 18 districts in Hong Kong, the programme empowers seniors to become anti-scam ambassadors, encouraging them to spread awareness and share key prevention messages with their families and communities. At…

The People’s Bank of China (PBoC) and the Hong Kong Monetary Authority (HKMA) officially launched Payment Connect on 22 June 2025, a new cross-boundary fast payment link between Hong Kong’s Faster Payment System (FPS) and the Mainland’s Internet Banking Payment System (IBPS). Developed in partnership with the China National Clearing Center (CNCC) and Hong Kong Interbank Clearing Limited (HKICL), Payment Connect enables real-time cross-boundary payment services for residents in both regions. The service supports transactions in Hong Kong dollars and Renminbi, and operates in compliance with the respective legal and regulatory frameworks of both jurisdictions. Within hours of its launch,…

GoTyme Hong Kong, which is part of the GoTyme Merchant Cash Advance (MCA) Asia business line under Tyme Group, announced its arrival in the region via a LinkedIn post on 23 June 2025. GoTyme Hong Kong says it is a licensed lender and aims to provide quick yet flexible financing for small businesses in Hong Kong. According to the post, their offerings would include pre-approvals and repayment terms that support healthy cash flows. Its first product launch is expected to take place later this year. Its parent company, Tyme Group, is valued at US$1.5 billion following a Series D funding…

Hong Kong BGE Limited (BGE) has secured its license to operate as a virtual asset trading platform (VATP) as of 17 June 2025, according to the Securities and Futures Commission (SFC) website. With BGE’s entry, Hong Kong now has 11 licensed VATPs. BGE is the fourth company to obtain a license this year, the third being Bullish HK Markets Limited in February 2025. Other licensed virtual trading platform operators include OSL Digital Securities Limited, Hash Blockchain Limited, Panthertrade (Hong Kong) Limited, and YAX (Hong Kong) Limited. The SFC extended its swift licensing process for VATPs to new applicants in January…

The head of China’s central bank has promised to boost the global adoption of the digital yuan and called for the development of a multi-polar global currency system, where several currencies dominate the world economy, according to a Reuters report on 18 June 2025. China will set up an international e-CNY operations centre in Shanghai, People’s Bank of China Governor Pan Gongsheng announced at the Lujiazui Forum, a meet-up of local and foreign financial industry executives and regulators. The remarks follow renewed interest in a global yuan, driven by trade tensions and growing demand for alternatives to dollar-based assets. China…