Ant International has appointed Jiang-Ming Yang as Chief Innovation Officer (CIO), effective immediately. In this role, he will oversee the integration of the company’s product and technology teams and lead the CIO Organisation, which is responsible for shaping Ant International’s global innovation and product strategy. His focus will be on enhancing products and solutions to keep pace with industry trends and customer needs. Jiang-Ming stated, “Ant International will continue to invest at the frontier of innovation to help businesses, especially SMEs, to achieve sustainable growth in an increasingly complex global environment.” “Top on our list of priorities will be to…

OSL Group (863.HK), a publicly listed digital asset company, announced the renaming of CoinBest K.K. (CoinBest) to OSL Japan Limited (OSL Japan) following the completion of its acquisition on 6 February 2025. The rebranding reflects the group’s commitment to expanding its regulated digital asset market to Japan, a market recognised for its strong regulatory framework and growing digital asset ecosystem. OSL Group acquired over 81% of the stake in CoinBest last year. Kevin Cui, Executive Director and CEO of OSL Group, said: “We are excited to leverage our expertise, innovative infrastructure, and global connections across the virtual asset sector to…

Weixin shared its latest data on cross-border payments, international user activity, and Mini Program usage during the 2025 Spring Festival holiday today, 6 February 2025. The report highlights key trends in how users engaged with its services during this peak travel period. For cross-border payments, the top destinations included Hong Kong SAR, Macao SAR, Japan, Thailand, and South Korea. Countries like Luxembourg, Malaysia, Sweden, Mongolia, and Italy saw the fastest growth, with Luxembourg emerging as a popular European travel spot. Inbound tourism also experienced significant growth. International travellers using Weixin Pay in Mainland China increased their transactions by 134% compared…

Alipay recorded a 30% year-on-year increase in outbound transactions across its 90 million Alipay+ global merchant network during the 2025 Chinese New Year. The top destinations for Chinese travellers were Singapore, Japan, Malaysia, Hong Kong SAR, and South Korea, with Singapore seeing a 56% Y0Y rise in total Alipay spending. Spending in Europe grew by 30%, with emerging destinations such as Switzerland, Austria, and Turkey experiencing notable transaction increases. Additionally, Alipay Chinese New Year travel spending on overseas transport saw a 139% surge, while spending on cosmetic surgery abroad skyrocketed by 449% YoY. Food-related transactions also increased significantly, with spending…

Securities and Futures Commission (SFC) granted operational Hong Kong crypto licences to two cryptocurrency trading platforms, PantherTrade and YAX, on 27 January 2025. This marks the year’s first two Hong Kong crypto licences approvals, bringing the total number of licensed virtual asset trading platforms (VATPs) to seven since the SFC initiated its stringent licensing regime in mid-2024. In December 2024, the SFC issued licences to four platforms—HKbitEX, Accumulus, DFX Labs, and EX.IO—as part of its drive to regulate the industry and enhance investor protection. According to Dr. Eric Yip, SFC’s Executive Director of Intermediaries, the commission has been actively engaging…

Digital payments in Hong Kong grew significantly. In 2024, the use of digital payments for online transactions rose 9 percentage points year-over-year (YoY), according to Forrester’s 2023 and 2024 Consumer Asia Pacific Surveys. This marks the second-highest YoY growth in payment methods within the city, surpassed only by bank transfers, which surged 15 percentage points during the same period. Forrester’s research, which surveyed more than 800 adults in Hong Kong in 2024, revealed that 53% of respondents had used digital payments in the preceding three months. This adoption rate position digital payments as the second most popular payment method in…

Tyme Group, a digital banking group operating in South Africa and Southeast Asia has raised US$250 million in a round led by ‪Nubank‬, the world’s largest digital bank. Now valued at US$1.5 billion co-founder Coen Jonker gives us an honest look at how to build a fintech unicorn

The fintech industry is about a decade old in Malaysia now, is it finally ready to shine? We are joined by Wilson Beh, President of Fintech Association of Malaysia and co-founder of ‪Policystreet‬ to deep dive into Malaysia’s fintech scene.

Nuvei acquired Paywiser Japan Limited and its license from the Japanese Ministry of Economy, Trade, and Industry on 27 January 2025, allowing it to expand further into the Asia Pacific region. This move allows Nuvei Corporation, a Canadian fintech firm, to offer direct acquiring services in Japan for every major card scheme. It also allows Nuvei to extend its direct connectivity with alternative payment methods there. Nuvei acquired Paywiser in Japan and expanded its presence in Asia-Pacific with a new Tokyo headquarters, joining offices in China, Hong Kong, Australia, and Singapore, supported by 200 payment experts. It can now offer…

Alipay Tap! in Macao was recently launched, enabling Alipay and Macau Pass to expand their partnership to bring it to more locations across Macao, enhancing payment convenience for tourists during the Chinese New Year. The service now covers over 1,000 merchants, including restaurants, retail shops, and popular attractions like the Ruins of St. Paul’s and Rua da Cunha, offering a seamless shopping and travel experience. Alipay Tap! is a contactless payment solution developed by Alipay, designed to simplify transactions by allowing users to make payments with a tap on their mobile devices. It eliminates the need to open the Alipay…

Environmental, Social, and Governance (ESG) considerations have become central to global economic discussions and remained a key focus at the recently concluded 18th Asian Financial Forum 2025 (AFF) on January 13-14, 2025, in Hong Kong. Under the theme “Powering the Next Growth Engine,” the Asian Financial Forum 2025 saw participation from prominent policymakers, scholars, financial officials, and business leaders from regions, including Mainland China, ASEAN, the Middle East, Europe, and the United States. Discussions delved into topics such as sustainability and green, reflecting the increasing importance of these areas in the global financial landscape. In addition to keynote speeches and…

Wise has introduced enhanced cross-border payment services to Mainland China ahead of the Year of the Snake, offering customers in Hong Kong a more seamless and efficient experience. Customers worldwide, including those in Hong Kong, can now send money to both mainland and non-mainland Chinese UnionPay users. Additionally, Wise has increased transfer limits, allowing personal customers to send up to 33,000 RMB to UnionPay recipients (an increase from 18,000 RMB) and up to 50,000 RMB to WeChat recipients (up from 30,000 RMB). Business customers sending money to UnionPay recipients will also benefit from the same higher transaction limit. Transfers to…

AIFT, a global cybersecurity and insurance technology company, has strengthened its commitment to the Middle East region with further investment and strategic appointments. In December 2024, AIFT received additional investment from Dubai Insurance Company, which has been a key partner since December 2023. This partnership led to the development of OneInfinity, the region’s first web3 insurance product approved by the Central Bank of the United Arab Emirates. Obaid Buti Almulla of Dubai Insurance has now joined AIFT’s board of directors, further enhancing the partnership. Professor Tony Chan, former President of King Abdullah University of Science and Technology in Saudi Arabia,…

The Securities and Futures Commission (SFC) extended its swift licensing process for VATPs to new virtual asset trading platform (VATP) applicants on 16 January 2025. Under this streamlined approach, applicants must establish and implement their compliance measures before undergoing an external assessment, with the SFC directly supervising the process. This SFC swift licensing process for VATPs builds on the SFC’s proactive engagement with deemed-licensed VATPs, leveraging insights from its risk-based on-site inspections to refine regulatory standards. The goal is to foster a robust virtual asset ecosystem in Hong Kong while enabling compliant platforms to operate more efficiently. Dr. Eric Yip,…

As the Lunar New Year approaches, Intuit QuickBooks is thrilled to announce the launch of the Grow Your Firm Program in February 2025. This initiative is designed to empower accounting professionals to transform their accounting or bookkeeping businesses and achieve new heights of success. Embrace the Spirit of Prosperity The Lunar New Year is a time of new beginnings and opportunities. At Intuit QuickBooks, our mission is to create prosperity around the world, and the Grow Your Firm Program is a key part of this mission. By participating in this program, accounting professionals can unlock the potential for growth and…

WeBank Technology Services, a subsidiary of China’s WeBank, marked a key milestone in its global expansion strategy with the launch of its Hong Kong headquarters. During the launch ceremony, WeBank Technology Services signed partnership agreements with Mega Corp (Indonesia), SCBX (Thailand), Hong Leong Bank (Malaysia), and Fusion Bank (Hong Kong). These collaborations focus on providing digital banking infrastructure and facilitating digital transformation within the financial sector. The Hong Kong headquarters will act as a hub for global operations while fostering financial collaboration and high-quality connectivity in the Greater Bay Area. The company has already contributed to cross-boundary initiatives such as…

The 18th Asian Financial Forum (AFF), co-organised by the Hong Kong Special Administrative Region (HKSAR) Government and the Hong Kong Trade Development Council (HKTDC), successfully concluded today (15 January 2025), reaffirming Hong Kong’s position as a leading international financial centre. Under the theme “Powering the Next Growth Engine,” the two-day AFF 2025 forum attracted over 3,600 policymakers, business leaders, and financial experts from more than 50 countries and regions. A key highlight of the 18th Asian Financial Forum was its emphasis on leveraging Hong Kong’s strengths to foster multilateral collaboration and address global financial challenges. The event also featured high-ranking…

The Hong Kong Monetary Authority (HKMA) has announced plans to connect the Hong Kong FPS with mainland China’s Internet Banking Payment System (IBPS) this year, enabling small cross-border transactions using mobile phone numbers. Based on South China Morning Post, three more banks, HSBC, Standard Chartered, and Bank of Communications, will now offer remote account-opening services for Hong Kong residents seeking to set up mainland accounts without needing to travel. These institutions join five other banks that have provided similar services since 2019. “These measures will allow Hong Kong residents who want to travel, live or work on the mainland while…

The 18th Asian Financial Forum (AFF) kicked off yesterday (13 January) at the Hong Kong Convention and Exhibition Centre. The forum expects over 3,600 attendees from over 50 countries and regions to attend. Themed “Powering the Next Growth Engine”, the forum aims to address the changing global economic landscape and explore new drivers for growth in a world facing resource constraints and environmental pressures. It highlights the crucial role of innovation, such as AI, renewable energy, and fintech, in powering future economic growth. The event features over 130 speakers, including policymakers and business leaders from around the world. The opening…

Hong Kong-based HashKey Group announced that its subsidiary, HashKey MENA FZE, has received In-Principle Approval (IPA) from the Dubai Virtual Assets Regulatory Authority (VARA) for a Virtual Asset Service Provider (VASP) license. Upon final approval, the license will enable HashKey MENA FZE to provide Virtual Asset Exchange Services and Virtual Asset Broker-Dealer Services in Dubai to retail, qualified, and institutional investors. This milestone also supports the expansion of HashKey OTC, the Group’s over-the-counter trading arm, in the Middle East. HashKey Group holds licenses in Hong Kong, Singapore, Japan, and Bermuda, is registered as a VASP in Ireland, and is pursuing…