Wealthtech

HSBC Gold Token to Democratise Gold Investment for Retail Customers in Hong Kong

HSBC has unveiled the HSBC Gold Token for its retail customers in Hong Kong. This development introduces tokenised gold to the retail market, accessible through the bank’s online and mobile platforms. The HSBC Gold Token, which represents physical gold ownership

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MUFG Bank Acquires 15.55% Stake in Robo-Advisor WealthNavi for US$104M

MUFG Bank, a subsidiary of Mitsubishi UFJ Financial Group, has acquired a 15.55% stake in robo-advisor WealthNavi for approximately 15.65 billion yen (104.15 million), marking a strategic move to bolster its digital financial services. This capital and business alliance aims

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Mox Bank Offers U.S. and HK Stock Trading Through Beta Testing

Hong Kong’s virtual bank Mox has initiated a beta phase for its new investment service, Mox Invest. This initial phase sees the service being gradually introduced to existing customers through an invitation-only approach. Mox Invest offers the virtual bank’s users

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Hong Kong Debuts First Saudi ETF in Asia Amid Growing China-Saudi Ties

The first-ever exchange-traded fund (ETF) in Asia, focusing on Saudi equities, commenced trading in Hong Kong on Wednesday. This event marks a milestone in the strengthening ties between China and Saudi Arabia. The ETF, named CSOP Saudi Arabia ETF and

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ZA Bank Gains Regulatory Nod to Offer U.S. Stock Trading in Hong Kong

Hong Kong’s ZA Bank has received regulatory clearance from the Securities and Futures Commission (SFC) to expand its services. This approval amends the bank’s existing license, allowing it to move beyond dealing in collective investment schemes. ZA Bank is set

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Dubai and Shanghai Exchanges to Share Expertise in Financial Collaboration

The Dubai Financial Market (DFM), Nasdaq Dubai, and the Shanghai Stock Exchange (SSE) have recently signed a Memorandum of Understanding (MoU) to enhance cooperation between the financial markets of Dubai and China. Announced on 20 November 2023, this agreement represents

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HKEX to Launch New Digitalised IPO Settlement Platform FINI on 22 Nov

The Hong Kong Exchanges and Clearing Limited (HKEX) announced that its new digitalised IPO settlement platform FINI will be launched on 22 November 2023. HKEX appears to have delayed the rollout of FINI from October. Earlier reports did mention that

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moomoo Kicks off Its Online Brokerage in Japan

Global investment and trading platform moomoo announced the launch of its online brokerage business in Japan on 19 September 2023. Japanese investors can now trade approximately 7,000 US stocks and ETFs on the moomoo platform. They will also be able

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HKEX Gears up to Launch New IPO Settlement Platform FINI in October

The Hong Kong Exchanges and Clearing Limited (HKEX) is set to launch its IPO settlement platform FINI in October this year. FINI will significantly shorten the time between the pricing of an IPO and the trading of shares from five

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FSMOne Tackles the Pain Point in Seamless and Quick Investment Account Opening

Before fintech and digitalisation became prominent, investors had to fill in long and clumsy account opening forms and even pay a visit to the branch just to open an account at an investment platform or a brokerage firm. Out of

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