Archive

Deep Diving into The Virtual Banking Scene in Hong Kong

Imagine a world where you can access all your banking needs at your fingertips without ever having to step into a physical branch. That’s the promise of virtual banks in Hong Kong – a new breed of digital-only financial institutions

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Job Cuts Hit Morgan Stanley and HSBC in China and Hong Kong

In a move reflecting the challenging market conditions in the Asia-Pacific region, particularly in Hong Kong and China, global investment banks Morgan Stanley and HSBC have recently implemented targeted job cuts within their investment banking teams. Sources indicate that Morgan

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Endowus Launches Full-Service Wealth Management Platform in Hong Kong

Endowus, an independent digital wealth advisor in Asia, has officially launched its comprehensive wealth management platform in Hong Kong. The launch follows significant technological enhancements aimed at better serving local investors. The platform includes a bilingual, full-featured version of the

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Mox Bank Names Igor Lau as Chief Customer Officer

Mox Bank has appointed Igor Lau as the new Chief Customer Officer (CCO), effective 1 April 2024. Igor Lau steps into this role with significant industry experience, having served in various capacities within Mox, including a stint as Interim CCO

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Financial Services Are Among The Most At Risk For Digital Fraud in Hong Kong

In Hong Kong, financial services ranked second among the most targeted industries for suspected digital fraud last year, tied with travel and leisure at 7.8% each, new data released by American consumer credit reporting agency TransUnion show. In 2023, the

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Three Chinese Firms Gets Nod to Launch Bitcoin and Ethereum ETF in Hong Kong

Hong Kong has taken a significant step by granting initial approvals to three Chinese asset managers to launch exchange-traded funds (ETFs) backed by spot virtual assets such as Bitcoin and Ether. This initiative is part of Hong Kong’s ongoing strategy

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ZA Bank Leverages Technology to Expedite Loan Approvals for Global Payments Merchants

ZA Bank has launched a new business loan in collaboration with Global Payments Asia-Pacific (Hong Kong) Limited, a subsidiary of Global Payments. This partnership allows eligible merchants within the Global Payments ecosystem to quickly and easily obtain ZA Bank’s pre-approved

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Financial Secretary Paul Chan Outlines Future Path for Hong Kong’s Digital Economy

During the Perspective and Vision Forum at the Digital Economy Summit 2024, Financial Secretary Paul Chan provided an in-depth look into the commitment of Hong Kong to accelerating its digital economy. His speech outlined several strategic initiatives aimed at integrating

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HKMA Eddie Yue Discusses Hong Kong’s Role in Shaping the Future of CBDCs

Eddie Yue, Chief Executive of the Hong Kong Monetary Authority (HKMA), shared his thoughts on the future of money and payment systems in an increasingly digital world at the International Conference on Central Bank Digital Currencies and Payment Systems. The

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Global Efforts Curb Crypto Hacks and Fraud, But Challenges Remain in Hong Kong

In 2023, the cryptocurrency ecosystem saw a significant decline in illicit activity, according to data from TRM Labs.  Despite the overall proportion of total illicit funds shrinking by 9 percent year-on-year, criminals still handled over US$34 billion (HK$266 billion) worth

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