Tag "Hong Kong Monetary Authority (HKMA)"

HKMA Takes Stock of Banks’ Fintech Adoption Rate to Push Digitisation Efforts

The Hong Kong Monetary Authority (HKMA) announced the results of the Tech Baseline Assessment and its plans for further supporting the industry’s adoption of fintech. As part of its “Fintech 2025” strategy, the HKMA is promoting the all-round adoption of

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HKMA, Bank of Israel, and BIS Hong Kong to Pilot Study on Retail CBDCs

The Hong Kong Monetary Authority (HKMA), together with the Bank of Israel (BOI) and the Bank for International Settlements Innovation Hub (BISIH) Hong Kong Center, announced a joint research on retail Central Bank Digital Currency (CBDC) called Project Sela. This

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HKMA Seeks Public Feedback for Its Retail Digital Currency Research

The Hong Kong Monetary Authority (HKMA) has issued a discussion paper titled “e-HKD: A policy and design perspective”, inviting views from the public on key policy and design issues for its retail central bank digital currency (rCBDC). After announcing the

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HKMA Further Extends Its Banking Talent Programme by Another 6 Months

The Hong Kong Monetary Authority (HKMA) announced that the Banking Talent Programme that it has jointly organised with the banking industry will be further extended for 6 months until the end of August this year. Since the introduction of the

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Hong Kong Seeks to Regulate Stablecoins by 2024

Though crypto-assets do not pose a risk to financial stability just yet, they very well might in the near future as this new asset class continues to develop at a rapid pace. The fast-growing cryptocurrency ecosystem, the rising prevalence of

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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

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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,

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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

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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

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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

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