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Li Ka-Shing Backed WeLab is the First Homegrown Fintech Granted Virtual Banking License
WeLab has been granted a virtual banking license by the Hong Kong Monetary Authority (“HKMA”), becoming the first homegrown Hong Kong fintech company to establish a virtual bank. This brings the total number of approved virtual banking players in Hong
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Burgopak Bags Award For its MCO Visa Card Design
London-based design company Burgopak has just been awarded for their excellence in industry challenging packaging design at the 2019 ICMA Élan Awards in Orlando, Florida—an award to cast a spotlight on the best of the best in the global transaction
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China’s Top 10 Fintech Startups and Companies
China continues to be the world’s undisputed fintech leader, with about 600 deals completed in 2018 and a fintech adoption rate of 69%, the highest in the world, according to EY’s 2017 Financial Technology Adoption Index. Out of the world’s
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China’s TechCrunch Equivalent Eyes US IPO
36Kr, a Chinese company operating a media platform covering startups and technology in China, is planning an initial public offering (IPO) in the US as soon as this year and is targeting to raise at least US$100 million, people with
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Even This Fintech Unicorn Thinks Hong Kong’s Virtual Banking License is Too Restrictive
The virtual banking race is on for different regions across the globe, and the Hong Kong Monetary Authority (HKMA) has put its hat in that race with the virtual banking license, as part of a larger plan to turn Hong
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3 Ways Crypto.com Is Trying To Make Cryptocurrency Mainstream
Despite its meteoric rise in popularity, cryptocurrency has yet to gain global mainstream adoption. Crypto.com, a Hong Kong-based startup, is attempting to change that and it is doing so through three of its key products. Multi-currency Wallet and Pre-paid Visa
Read MoreHK$500K Fine or 5 Years Prison Time for Fradulent Crypto-Trading, Said HK Regulator
James Lau, Secretary for Financial Services and the Treasury Bureau (FSTB) in a letter to the President said that misleading cryptocurrency activity is subject to a HK$500,000 fine or five years prison time. The following actions by virtual currency traders are
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InvestHK Teases a Bigger and Better Hong Kong Fintech Week 2019
InvestHK recently dropped hints that we should be expecting a significant expansion of the annual Hong Kong Fintech Week. Anticipating to pull in a larger audience than last year’s 8,000 attendees, the agency stated they needed to host the event
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Neat Snubs Virtual Banking License and Picks Up The Money Lender License Instead
The fintech startup Neat, a digital banking alternative, has been granted a Money Lender’s License in Hong Kong, which marks their first step in their pursuit of global financial regulation. The move also marks Neat’s full turn away from virtual
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