Archive

Hong Kong Allocated HK$200B to Advance Key Sectors Including Fintech and AI

The Hong Kong government is actively working to establish the city as a fintech hub through various strategic initiatives. Significant investments have been made, with HK$200 billion allocated to innovation and technology development in recent years. Specific plans were highlighted

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Ant Group Partners with Huawei to Develop Alipay App on HarmonyOS Platform

Ant Group, the fintech affiliate of Alibaba Group Holding, and Shenzhen-based Huawei Technologies are embarking on a collaborative venture to develop a dedicated version of Ant’s flagship mobile payment application, Alipay, for HarmonyOS, Huawei’s native smartphone operating system. The collaboration

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Millennials and Gen Z Shape Hong Kong’s Proptech Landscape

Hong Kong is emerging as a central player in the evolution of property technology (proptech) within the Asia Pacific region, influenced by the distinct preferences of Millennials and Gen Z. These demographic cohorts, expected to represent 25 percent of Asia’s

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HKMA Research Paper: The Benefits of Digital Bond Tokenisation

Tokenization, which refers to the process of converting financial assets into digital tokens on a blockchain or distributed ledger (DLT), offers many benefits in capital markets. Promising enhanced efficiencies, cost reductions, and improved market liquidity are the main benefits, a

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Hong Kong’s SFC Issues Fraud Warnings for HongKongDAO and BitCuped

The Securities and Futures Commission (SFC) has warned the public about suspected virtual asset-related frauds involving Hong Kong Digital Research Institute, also known as HongKongDAO, and BitCuped. The SFC has requested the Hong Kong Police Force block access to both

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First Digital USD Stablecoin Reaches US$1 Billion Market Cap

First Digital, an Asia-based digital asset custody and trust service provider, reported that its stablecoin, First Digital USD (FDUSD), has achieved a market capitalisation of US$1 billion (HK$7.81 billion). This development marks a growth in adopting FDUSD, which was launched

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Italy and South Korea Unite to Advance CBDC and Real-Time Settlements

The Bank of Italy and the Bank of Korea have signed a memorandum of understanding (MOU) to facilitate the exchange of knowledge and expertise related to central bank digital currencies (CBDCs) and real-time gross settlement (RTGS) systems. Under the terms

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Asian Financial Forum 2024 to Be a Beacon of Finance in Turbulent Times

The financial epicentre of Asia is poised to resonate once again with the vibrant synergy of leaders, innovators, and visionaries at the 17th iteration of the Asian Financial Forum (AFF), returning to the bustling cityscape of Hong Kong on the

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Central Banks Balance Innovation with Stability in the Age of Digital Currency

Innovation has severely rattled monetary systems as emerging technologies rapidly transform how money and finance operate globally. The landscape of monetary systems is at a crucial crossroads, marked by the dual forces of technological progress and the accompanying challenges that

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Hong Kong Among the Most Advanced in CBDC Development

This year’s PwC Global CBCD Index is seeing the addition of new countries into its ranking of the world’s most advanced retail central bank digital currency (CBDC) projects, with India, Japan and Hong Kong joining the list and leading the

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