Chubb Life Hong Kong introduced the Health Up Insurance Plan (Health Up) on 7 May 2025. The Chubb Health Up Insurance digital insurance plan is designed to encourage and support individuals in adopting a healthier lifestyle. It aims to offer term life coverage and accidental death protection1 with a purportedly comprehensive suite of health and wellness offers to customers aged 18 to 55. The annual Premium2 of Health Up is HK$800, coming to around HK$2.19 per day. Upon enrolment, customers gain access to a wide range of health and wellness offers. These are provided by health product and service providers such…

Ant Group, a subsidiary of China’s Alibaba Group, is reportedly planning to list its overseas branch, Ant International, on the Hong Kong Stock Exchange, according to Chinese media sources. Caixin, citing sources close to the company in an exclusive, reported that Ant is in talks with regulators about a potential listing. The report did not specify whether these discussions are with regulators in China or other countries for the Ant International IPO. However, Caixin did report that Zhou Zhifeng, a senior vice president of the group, is leading discussions with Hong Kong and Singapore regulators in the Ant International IPO.…

TOPPAN Edge is partnering with Partisia to develop a fully privacy-focused digital identity using Partisia’s Decentralised Identity technology. The aim? To enable individuals to securely control their private data. The collaboration also aims to explore how Partisia Blockchain can scale this further globally and support a secure, user-driven data economy. The partnership purportedly aligns with Japan’s vision for a trusted digital framework and ensures compatibility with Europe’s eIDAS, strengthening regional ties. Japan’s TOPPAN Edge provides business information management solutions, while Denmark’s Partisia is in Multi-Party Computation (MPC) and advanced cryptography-enforced privacy, using blockchain technology. TOPPAN Edge will contribute its expertise in…

livi Bank reported a total operating income of HK$220 million in 2024 in its latest annual report results, marking a 76% increase. Its losses narrowed by 54% to HK$259 million. Next, the livi Bank 2024 annual results showed that its total operating expenses decreased by 41% to HK$353 million, while net interest income nearly doubled, reaching HK$214 million. Following that, livi Bank’s customer deposits also reached HK$2.917 billion, growing by 33% compared to the end of 2023. The loan balance increased by 23% compared to the previous year to HK$1.943 billion. SME business has purportedly played a vital role in…

OSL Group (863.HK), a publicly listed company for digital assets, and Ant Digital Technologies signed a Memorandum of Understanding to establish a strategic partnership in Real-World Asset (RWA) tokenisation on 2 May 2025. The OSL Ant Digital partnership, announced at the RWA REAL UP Dubai Summit 2025 on 30 April 2025, would merge Ant Digital Technologies’ technological capabilities and OSL’s institutional infrastructure. Ant Digital Technologies aims to contribute its scalable blockchain platform, which processes transactions with proven security protocols. OSL would provide the essential regulatory framework and distribution channels through its licensed digital asset platform. Together, the partnership aims to…

WeLab Bank achieved profitability in Q1 2025*, continuing from 2024 when it achieved breakeven within four years of its launch. WeLab Bank also states that it is on track to meet its full-year profitability target. The bank added that it has reached around HK$750 million in revenue^, with 30% YoY growth. It has also hit HK$5.5 billion in its unsecured retail loan portfolio and 9.4% in its net interest margin, purportedly the first for all three milestones for digital banks in Hong Kong. The bank also shared that it achieved a lower-than-market delinquency rate and an improvement of 37% in…

In Hong Kong, financial institutions are increasingly adopting generative artificial intelligence (genAI), aiming for enhanced productivity and operational efficiency. A study commissioned by the Hong Kong Institute for Monetary and Financial Research (HKIMR), the research arm of the Hong Kong Academy of Finance (AoF), surveyed 55 entities from the banking, insurance, and wealth and asset management sectors between October 2024 and January 2025. The findings revealed that 75% of respondents had either already implemented at least one genAI use case, were piloting and designing use cases, or were exploring potential investment areas. This ratio is expected to increase to 87%…

On 28 April 2025, the Hong Kong Monetary Authority (HKMA) announced the creation of an Expert Panel on Project Cargox. The panel aims to improve the digital ecosystem for trade finance by leveraging cargo data. Riding on the HKMA’s Commercial Data Interchange (CDI), Project Cargox is a multi-year, public-private collaboration. It focuses on three key areas. First, Project Cargox leverages cargo data to streamline and enhance trade finance processes. Second, it is developing digital solutions to improve access to trade finance for SMEs. Lastly, Project Cargox is exploring connections with international data partners to support trade financing use cases for banks…

ZA Bank announced its 2024 annual results today, 30 April 2025. Its results recorded a net revenue of HK$548 million, while its net loss narrowed significantly by 42% YoY. Calvin Ng, CEO of ZA Bank, said, “We remain committed to serving the needs of a new generation of Hongkongers—from young professionals to those navigating key life transitions—by delivering tailored, goal-oriented financial services that support them at every stage of their journey.” Highlights of the ZA Bank 2024 annual results performance also include that its net interest income soared by 86% to HK$ 489 million. The digital bank significantly narrowed its…

 OSL Group (863.HK), a publicly listed company dedicated to crypto assets, announced the launch of OSL Pay on 29 April 2025. This is a new business division which intends to revolutionise cross-border fiat-to-crypto payment infrastructure. The launch marks the first step in OSL Pay’s global business strategy, starting with operations in Europe through its existing OAM registration (equivalent to a VASP) in Italy, with a planned launch in Q2. OSL Pay aims to offer institutions and retail clients a secure and reliable payments infrastructure. It would purportedly include personalised onboarding with dedicated account managers and a unified API/SDK for easy integration…

Mox Bank Limited (“Mox”) announced its Mox Bank 2024 annual results today, 30 April 2025. In 2024, Mox’s focus on quality customer onboarding, especially on those with higher monthly incomes, contributed to its performance. Barbaros Uygun,  CEO of Mox, said, “By leveraging cutting-edge technologies and fostering deeper relationship with our customers, we’ve not only enhanced our offerings but also redefined what banking means for Hong Kong consumers. ” Mox delivered a strong performance across key financial indicators in 2024. The bank reported that its net interest income grew by over 20% YoY to over HK$530 million. Operating income also grew…

HashKey Capital received approval from the Hong Kong Securities and Futures Commission (SFC) to offer an in-kind crypto subscription to its actively managed fund, HashKey Digital Investment Fund, on 28 April 2025. HashKey Capital’s in-kind subscription model would now allow investors to invest directly using the top 100 tokens by market capitalisation. This includes popular options like BTC, ETH, XRP, SOL, DOGE, ADA, SUI, LINK, TON, and DOT. Traditionally, crypto investors need to convert their virtual assets into fiat currency before subscribing to a fund. This process could be deemed time-consuming, operationally complex, and may include extra conversion fees and…

Alibaba launched Qwen3, the latest generation of its open-sourced large language model (LLM) family, on 29 April 2025. The Qwen3 series features six dense models and two Mixture-of-Experts (MoE) models, offering developers flexibility to build next-generation applications across mobile devices, smart glasses, autonomous vehicles, robotics and beyond. All Qwen3 models—including dense models (0.6B, 1.7B, 4B, 8B, 14B, and 32B parameters) and MoE models (30B with 3B active and 235B with 22B active)—are now open-sourced and available worldwide. Qwen3 purportedly marks Alibaba’s debut of hybrid reasoning models, combining traditional LLM capabilities with advanced, dynamic reasoning. Qwen3 models can apparently easily switch…

The Hong Kong Monetary Authority (HKMA), in collaboration with the Hong Kong Cyberport Management Company Limited (Cyberport), announced the launch of the second cohort of the Generative Artificial Intelligence (Gen AI) Sandbox initiative. The announcement was made on 28 April 2025. The Gen AI Sandbox is designed to offer a risk-controlled environment where banks can safely develop and test innovative AI-driven solutions. This initiative aims to accelerate the adoption of AI technology within the financial sector. After the positive feedback from the inaugural cohort launched in January 2025, the second cohort that the Gen AI Sandbox Hong Kong has is…

Global Fast Track 2025 (GFT 2025) is now open for applications from today, 28 April 2025, until 21 September 2025. This year, the programme will include other verticals besides fintech, providing business opportunities for more technology companies in Hong Kong and worldwide. The year-long hybrid program offers participants one-on-one meetings, live pitching opportunities, mentorship, and customised business matching with corporate clients, investors, and service providers. A separate competition track will choose semi-finalists from each vertical to pitch in person at the Hong Kong FinTech Week x StartmeupHK Festival 2025 in November. The grand finale will be held during the main…

Bright Smart Securities & Commodities, a Hong Kong-based brokerage, made an announcement on 26 April 2025. Its chairman, Yip Mow-lum, agreed to sell his entire 50.55% stake. The buyer is Ant Group, the fintech arm of Alibaba. The transaction is valued at approximately HK$2.81 billion and is part of the Ant Group Bright Smart Securities acquisition. The shares almost reach 858 million in numbers, and are sold to Wealthiness and Prosperity Holding Ltd., ultimately controlled by the Chinese fintech giant Jack Ma. The Standard reports that the Ant Group Bright Smart Securities acquisition deal is priced at HK$3.28 per share.…

Invest Hong Kong (InvestHK), the Hong Kong Economic and Trade Office in Singapore (HKETO Singapore), and the Hong Kong Trade Development Council (HKTDC) jointly held a seminar on 23 April 2025 in Mumbai. The seminar was part of the Associate Director-General of Investment Promotion at InvestHK, Charles Ng’s duty visit. During visits to Mumbai and Delhi, Charles Ng engaged in discussions with large family businesses, enterprises, family offices, business founders, and entrepreneurs from various sectors. He highlighted the unique benefits of the “one country, two systems” framework and shared the business and investment opportunities available in Hong Kong and the…

Ant Bank (Hong Kong) received a US$100 million capital injection from its parent company, Ant International, on 23 April 2025. Ant Bank plans to enhance investments in services and products. It aims to expand collaborations with partners to strengthen offerings. As Ant Bank secures $100M in capital injection, its next goal is to provide customers with more personalised and flexible financial solutions. The bank also intends to advance Hong Kong’s digital financial landscape to promote greater openness, inclusivity, and convenience. Ant Bank currently applies Ant International’s technology to offer various accessible financial services. These include the eM+ High Yield Account,…

Alipay Tap!, a QR code-based contactless payment and customer engagement solution introduced by Alipay in China in June 2024, has reportedly won over 100 million users. The Alipay tap hits 100M milestone was reached on 24 April 2025, within 11 months. Alipay Tap! is designed to streamline the payment process for consumers and merchants, offering a smoother alternative to China’s widely used “scan-and-pay” model. Users simply tap their unlocked phone on a merchant’s terminal or an Alipay Tap! Tag, streamlining the payment process. There’s no need to open an app, scan a code, or navigate through multiple screens. Early adopter…

OSL Group, a publicly listed company dedicated to digital assets and Fosun Wealth International Holdings Limited (Fosun Wealth Holdings), a digitalised global wealth management platform under Fosun, announced a strategic partnership on 24 April 2025. OSL will provide Fosun Wealth Holdings access to its secure, compliant Omnibus platform in Hong Kong to simplify trading processes. Fosun Wealth Holdings aims to provide its clients with instant, secure, and regulated crypto trading services by using OSL’s Omnibus service. This includes strong KYC and AML processes, real-time risk controls, and insured custody solutions. The OSL and Fosun Wealth partnership intends to simplify operations,…