Archive

DBS Group Holdings Increases Private Banking Team in Hong Kong by 25%

DBS Group Holdings is hiring additional private bankers in Hong Kong as the bank continues to attract significant funds from mainland China and Taiwan. The North Asia business head, Sebastian Paredes, disclosed that the number of clients acquired from mainland

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SFC Reminds Virtual Asset Trading Platforms of Licensing Deadline

The Securities and Futures Commission (SFC) reminds the public that the non-contravention period for virtual asset trading platforms (VATPs) operating in Hong Kong under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap 615) (AMLO) will end on 1 June 2024.

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Currencycloud and Pyvio Partner to Improve Cross-Border Payments for Chinese E-Commerce

Currencycloud, known for simplifying multi-currency business operations, and Pyvio, a Hong Kong-based fintech building financial services infrastructure, have announced a partnership to offer efficient and cost-effective cross-border payment solutions for Chinese e-commerce businesses operating in emerging markets. This partnership enables

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XTransfer and TerraPay Partner to Enhance Cross-Border Payment Solutions for SMEs

XTransfer, a B2B cross-border trade payment platform in China, has partnered strategically with TerraPay, a global money movement company. This partnership aims to improve payment solutions for small and medium-sized enterprises (SMEs) involved in international trade by providing secure, compliant,

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Singapore-Based Aspire Obtains Money Service Operator License in Hong Kong

Aspire, an all-in-one finance platform headquartered in Singapore, has successfully obtained a Money Service Operator (MSO) License issued by the Hong Kong Customs and Excise Department. Aspire provides a unified suite of financial solutions to small and medium-sized enterprises (SMEs)

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China and Thailand Sign MoU to Promote CBDCs

The Bank of Thailand has signed a memorandum of understanding (MoU) with China to advance the development and usage of Central Bank Digital Currencies (CBDCs). This partnership aims to promote cross-border payments and enhance financial cooperation between the two countries

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Hong Kong Strengthens Financial Collaboration with Malaysia

The Hong Kong Monetary Authority (HKMA) delegation, led by Chief Executive Eddie Yue, concluded a three-day visit to Kuala Lumpur, Malaysia, aimed at strengthening financial collaboration between the two countries. During the visit, the delegation held bilateral meetings with Bank

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OSL Group First Digital Asset Firm in MSCI Hong Kong Index

OSL Group, a publicly listed company in Hong Kong dedicated to digital assets, will be included in the MSCI Hong Kong Index following the market close on 31 May 2024. The MSCI Hong Kong Index is part of the broader

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HKMA’s New Guidelines Aim to Equip Bank Employees for AI Transformation

In response to the rapid integration of Artificial Intelligence (AI) in banking, the Hong Kong Monetary Authority (HKMA) announced updated guidelines focused on manpower development and training in the banking sector. This initiative reflects the HKMA’s commitment to supporting the

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OKX Hong Kong Announces Withdrawal of Crypto Application

OKX Hong Kong has officially withdrawn its application for a crypto license, leading to significant changes in its service offerings to Hong Kong residents.  In accordance with this development, OKX Hong Kong will discontinue providing centralised crypto trading services in

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