Tag "Hong Kong Monetary Authority (HKMA)"
HKMA Moves to Plug the Regtech Talent Gap to Promote Adoption
A recent report commissioned by the Hong Kong Monetary Authority (HKMA) had highlighted a series of recommendations to promote the development of regtech talent in Hong Kong. As laid out in the HKMA’s white paper entitled “Transforming Risk Management and
Read More
How Will Hong Kong’s Digital Currency E-HKD Work?
The Hong Kong Monetary Authority (HKMA) has released a technical whitepaper on a retail central bank digital currency (CBDC), proposing an architecture that would follow the key principles of safety, efficiency, and openness. The paper, titled e-HKD: A technical perspective,
Read More
Hong Kong and China Link Up Their Sandboxes to Pilot Cross-Border Fintech Initiatives
The Hong Kong Monetary Authority (HKMA) and the People’s Bank of China (PBOC) signed a Memorandum of Understanding (MoU) for their cooperation on fintech innovation and supervisory exchanges in the region. The two regulators have agreed to link up the
Read More
Latest HKMA Regtech Guide Outlines Benefits of E-Governance, Risk & Compliance Platforms
Banks and financial institutions are faced with critical challenges in their current governance, risk, and compliance (GRC) approaches, which often times involve inefficient and cumbersome processes requiring an excessive amount of manual work with disconnected and varied results. This challenge
Read More
HKMA Unveils List of 19 Eligible Banks for the Cross Border Investment Scheme
The Hong Kong Monetary Authority (HKMA) has released the list of 19 eligible banks in the country which can launch the cross border Wealth Management Connect (WMC) services. These banks, together with their respective Mainland partner banks whose eligibility have
Read More
Hong Kong Takes it First Step in Retail Central Bank Digital Currencies with e-HKD
The Hong Kong Monetary Authority (HKMA) has released a technical whitepaper on retail central bank digital currency (CBDC), titled “e-HKD: A technical perspective”. Building on the experience in wholesale CBDCs, in June 2021, the HKMA has started a study on
Read More
Thailand, HK CBDC Prototype Reveals Cross Border Payments Can Be Done in Seconds
The Hong Kong Monetary Authority (HKMA), Bank of Thailand, BIS Innovation Hub Hong Kong Center (BISIH), People’s Bank of China and the Central Bank of the United Arab Emirates have reveled findings from their joint Central Bank Digital Currency (CBDC)
Read More
China Kicks off Multibillion Dollar Investment Link With Hong Kong and Macau
China has officially launched the Wealth Management Connect (WMC) with Hong Kong and Macau to carry out cross-boundary investment in wealth management products distributed by banks in the area. The Wealth Management Connect trading scheme will initially handle a total fund
Read More
Here Are the 5 Strategies Outlined in HKMA’s Fintech 2025 Plan
The Hong Kong Monetary Authority (HKMA) has unveiled “Fintech 2025”, its new strategy for driving fintech development in Hong Kong which includes further testing of Central Bank Digital Currencies (CBDCs). According to a statement by HKMA, the new fintech strategy
Read More
Airstar Bank Pilots Corporate Banking Services for SMEs Through HKMA Sandbox
Airstar Bank, one of Hong Kong’s eight virtual banks, has launched a pilot trial of corporate banking services for SMEs through the Fintech Supervisory Sandbox administered by the Hong Kong Monetary Authority (HKMA). At this stage, the pilot trial aims
Read More