Archive
MUFG Set to Launch New Debt Funds Worth US$400 Million in Japan, Europe
Mitsubishi UFJ Financial Group (MUFG) announced plans to establish two new debt funds for Japanese and European startups worth almost US$400 million in total. The group’s subsidiary MUFG Bank and Israeli fintech Liquidity Capital will be providing the funding under
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Futureproofing Fintech: Navigating AML Compliance in a Rapidly Evolving Sector
The fintech space is experiencing unprecedented challenges when it comes to anti-money laundering (AML) compliance. From a global pandemic that shifted users online to economic downturns and sanctions resulting from geopolitical conflicts, fintech firms face daunting challenges that can harm
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Ant Group Considers Selling Its Stake in Digital Bank Subsidiary
Chinese fintech giant Ant Group is mulling the sale of its stake in its Hong Kong-based virtual bank, according to Bloomberg, citing people familiar with the matter. The report added that the plans are still in preliminary stages as Ant
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HKEX Appoints Patrick Khong as Co-head of Data and Analytics
The Hong Kong Exchange & Clearing Limited (HKEX) announced that Patrick Khong has been appointed as its Managing Director and Co-Head of Data and Analytics. Working in partnership with Andy Shum as Co-Head of Data and Analytics, Khong will help
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Hyphen Group in Merger Talks With SPAC Backed by Peter Thiel
Hyphen Group, a Hong Kong-based fintech firm, is said to be in merger talks with Bridgetown Holdings, a U.S.-listed special purpose acquisition company (SPAC) jointly owned by PCCW and backed by billionaires Peter Thiel and Richard Li. In November 2022,
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ZA Bank Steps up Security When Users Bind Their Visa Cards With Digital Wallets
Hong Kong’s virtual bank ZA said that its users are now required to complete additional authentication when binding ZA Card to new digital wallets. The new measure for contactless mobile payments seeks to offer a more secure spending experience and
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UOB Hong Kong Partners Swiss Firm SGS to Drive Sustainable Financing
UOB Hong Kong has tied up with Swiss testing and inspection group SGS in a bid to to promote sustainable finance as well as contribute to environmental protection and sustainable development. The joint initiative will help companies that are looking
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Economic Innovation, Smart Future Take Centre Stage at DES 2023
Making its grand return to Hong Kong after four years, Asia’s flagship innovation and technology event, the Digital Economy Summit (DES) 2023 took place at the Hong Kong Convention and Exhibition Centre (HKCEC) on April 13-14, 2023. The two-day summit
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Hong Kong VC firm Launches $100 Million Blockchain Fund
CMCC Global, a Hong Kong-based venture capital firm, announced the launch of a new US$100 million fund focused solely on blockchain opportunities. The move demonstrates the firm’s confidence in the island’s potential to become a hub for virtual asset trading.
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WeChat Broaden Digital Yuan Acceptance, Accelerating CBDC Adoption
China-based messenger app WeChat has announced that it has expanded digital yuan payments to its short video and mini-app platforms. This update is an extension of the e-CNY payments option that WeChat has already supported since early 2022. The move
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