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Hong Kong’s Digital Banks Will Operate at a Loss for at Least the Next 2 Years
Despite advantages including cheaper operational costs and backing from tech firms with deep pockets, Hong Kong’s digital banks will face hurdles in turning a profit. These eight newcomers will have to operate at a loss for at least the next
Read MoreRISE Conference Will Return to Hong Kong in 2022!
Web Summit, the company behind RISE, announced that the tech event will be returning to Hong Kong on 14th to 17th March 2022 as an in-person event at the AsiaWorld-Expo. RISE was launched in Hong Kong in 2015, where it
Read More17 South-Korean Fintech Startups Graduates F10’s Accelerator Programme
In the virtual Demo Day held on September 2nd 2021, 17 teams from South Korea have successfully completed F10’s intensive 6-week Fintech Accelerator programme. The 6-week programme was run by F10 in partnership with Seoul Fintech Lab, which is funded
Read MoreHuawei Eyes APAC Fintech, E-Commerce Startups with New US$100M Commitment
Over the next three years, Huawei will be committing US$100 million into its Spark program in Asia Pacific (APAC), a startup program aimed at supporting young ventures in the fields of fintech, e-commerce, energy, manufacture and smart city. In particular,
Read MoreADDX Secures US$200 Million Allocation From China’s Offshore Investment Scheme
ADDX, a Singaporean digital securities exchange formerly known as iSTOX, expects to enlarge its business in China after with a US$200-million agreement tied to a government-granted quota for Chinese offshore investments. The Qualified Domestic Limited Partnership scheme (QDLP) allows domestic
Read MoreStripe Deepens Partnership With UnionPay to Tap Into China’s Consumer Market
Payment infrastructure provider Stripe has deepened its partnership with China’s UnionPay International to widen its access to the booming global Chinese consumer market. Stripe’s partnership with UnionPay International complements its existing Alipay and WeChat Pay integrations. Through a single integration,
Read MorePet Insurer OneDegree Raises US$28 Million to Expand Across Five Continents
OneDegree, a Hong Kong-based insurtech startup under the Cyberport Incubation Programme, announced that it has raised US$28 million in a Series B1 funding round, bringing its total funds raised to over US$70 million. This Series B1 funding round includes participation
Read MoreCyberport Approves HK$10 Million for 93 Fintechs Through Its Subsidy Scheme
Hong Kong digital tech park Cyberport announced that it has approved a total grant of HK$10 million for 93 projects for the second phase of its Fintech Proof-of-Concept Subsidy Scheme. The subsidy scheme which was commissioned by the Financial Services
Read MoreAirwallex Expands Its Footprint to the US
Airwallex, a cross border payment company, announced its official launch in the US as it continues its international growth momentum. The company first established a presence in San Francisco in 2019, and has grown to a team of more than
Read MoreBIS, HKMA Explores Use of Tokenised Green Bonds in Sustainable Investment Push
The Bank for International Settlements (BIS) Innovation Hub Hong Kong Centre and the Hong Kong Monetary Authority (HKMA) will be working on a prototype digital infrastructure Project Genesis to improve sustainable investing with tokenised green bond assets. As BIS Innovation
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