Tagged: hong kong

10 High-Potential Fintech Firms Chosen for 11th Annual Fintech Innovation Lab New York

Ten high-potential technology firms have reportedly been chosen for 11th Annual Fintech Innovation Lab New York. As noted in the announcement (published on April 7, 2021), Fintech solutions aim to leverage AI and advanced data analytics to “address key industry challenges including sustainability.” As mentioned… Read More

Cardless ATM Withdrawal Services to be Offered in Hong Kong by Ping An OneConnect Bank and JETCO

Ping An OneConnect Bank (PAOB) recently revealed that it has teamed up with JETCO in order to provide cardless ATM withdrawal services. PAOB clients will now have the option to make cash withdrawals from over 1,700 JETCO ATM machines based in Hong Kong. Customers may… Read More

Digital Wealth Management Platform StashAway to Offer Services to Hong Kong Consumers after Obtaining License from SFC

StashAway, a digital wealth management solution provider, recently revealed that it will be offering services to Hong Kong consumers. The firm’s management confirmed that it’s now licensed by the Securities and Futures Commission (SFC). StashAway is a digital investment platform that offers “intelligent” asset allocation… Read More

Hong Kong Virtual Bank ZA Bank Offers Personal Loans For Just 1.99% APR

In a move to boost clients, ZA Bank has launched a personal loan with a fixed rate of 1.99% APR. Additionally, new users can get HKD 400 cash rewards upon successful application at the virtual bank. ZA Bank says the program is part of its… Read More

Digital Asset Custody Provider Hex Trust Finalizes $6M Round led by QBN Capital

Hong Kong-headquartered crypto-asset custody service provider Hex Trust reveals that it has secured $6 million in capital via a Series A round that was led by QBN Capital. As part of its latest investment round, Hex Trust also received contributions from Cell Rising, Radiant Tech… Read More

CBDCs: People’s Bank of China and the Hong Kong Monetary Authority Testing Digital Yuan

The People’s Bank of China (PBoC) and the Hong Kong Monetary Authority (HKMA) have begun testing its central bank digital currency (CBDC) or digital yuan for cross-border transfers, according to a report in SCMP. The report quotes Wang Xin, Head of Research at the PBoC,… Read More

Hong Kong Monetary Authority Confirms Launch of System for Cross-Currency Securities Transactons with Bank of Japan Financial Network System

The Hong Kong Monetary Authority (HKMA) has confirmed the launch of the delivery-versus-payment (DvP) link for cross-currency securities transactions between the Hong Kong dollar (HKD) CHATS and the Bank of Japan (BoJ) Financial Network System. These transactions wll reportedly involve Japanese Government Bond (BOJ-NET JGB) Services…. Read More

Quinlan & Associates Say there’s Scope for Only a Few Digital Banking Fintechs in Hong Kong to Thrive in Competitive Environment

  Quinlan & Associates have published a report, titled Branching Off: The Outlook for Hong Kong’s Virtual Banks. The report, which has been authored by company CEO and Managing Partner Benjamin Quinlan and Consultant Eashan Trehan, notes that it’s been a year now since the… Read More

Digital Banking Platform ZA Bank from Hong Kong Now Claims 300k Users, Right before 1-Yr Anniversary

ZA Bank, which is one of Hong Kong’s eight digital banks, has confirmed that it has now acquired around 300,000 users. This milestone has been reached right before its first year anniversary. ZA Bank was notably the first to carry out a soft launch of… Read More

Regtech, Financial Wellness, Debt Investments Startups Among 11 Initiatives to Graduate from StartupBootCamp Fintech Dubai

The third edition of Startupbootcamp Fintech Dubai’s accelerator program has now concluded. During the Demo Day, there were 11 startups that pitched their ideas to potential investors, corporate partners, industry experts, mentors, and the general public. Startupbootcamp Fintech Dubai was introduced in 2018 through a… Read More

Asian Fintech WeLab Finalizes $75M Series C-1 Funding Round led by Allianz X

WeLab, an established Asian Fintech firm, has finalized its Series C-1 $75 million funding round, which was led by Allianz X. Allianz X is the digital investment division of Germany’s Allianz Group, one of the world’s largest insurance service providers and fund managers. Since launching… Read More

Digital Assets Firm BlockFi Launches Private Client Services Offering for UHNWIs and Sophisticated Investors in APAC Region

BlockFi Inc., a financial services firm that’s focused on creating a bridge between digital currencies and traditional financial and wealth management products, has revealed that it has launched a Private Client Services offering for investors in the APAC region. BlockFi confirms that the new initiative… Read More

Standard Charter’s Virtual Bank Mox Update: Now Has 80,000 Customers & Over 1.5 Million Transactions Been Made With Mox Card

Mox, Standard Chartered virtual bang that is based in Hong Kong, announced on Monday its latest progress update. The virtual bank launched in September 2020 and as previously reported, it was created in partnership with PCCW, HKT, and Trip.com “With Mox, opening an account is… Read More

Stock Trading in Hong Kong has Increased Significantly Compared to Volumes Reported Recently by London Stock Exchange

Stock trading volumes in Hong Kong have reportedly increased by as much as 4x compared to those on London’s main stock exchange, as large tech stocks continue to attract investors from other jurisdictions. Some have referred to Hong Kong’s stock trading as the “Nasdaq of… Read More

Hong Kong Financial Services Sector to Work on Regtech, Trade Financing, Payments, Robo-Advisory Products with New Initiatives

The Financial Services and the Treasury Bureau (FSTB) in Hong Kong had announced last month that the Fintech Proof-of-Concept Subsidy Scheme (PoC Scheme) will be opening for applications from February 26, 2021. According to a release, the PoC Scheme has been introduced to encourage traditional… Read More

Global Digital Finance Broadly Agrees with Hong Kong Proposal to Regulate VASPs but Worries that Blocking Retail from Crypto is Wrong Move

Last November, Hong Kong kicked off a consultation pertaining to anti-money laundering (AML) and counter finance terrorist (CFT) regulation that will impact cryptocurrency exchanges or virtual asset service providers (VASPs). The deadline for comments delivered to the Hong Kong Financial Services and the Treasury Bureau (FTSB),… Read More

Diginex Announces New Partnership With GSR Markets

Diginex Limited, a digital assets financial services company, announced on Monday it has formed a new partnership with GSR Markets (GSR), a global market maker for cryptocurrency spot and crypto derivative markets. According to Diginex, GSR will become a shareholder in Diginex and one of the… Read More

Hong Kong May Lead China’s Financial Integration Efforts with Major World Economies and Promote Digital Yuan Adoption

Hong Kong might lead China’s financial integration efforts with other countries and could also help promote the adoption of the digital yuan, according to government officials. But regardless of what Hong Kong actually does to fulfill its role, the special administrative region of the People’s… Read More

Hong Kong Monetary Authority Releases Regtech Adoption Report for Improving AML/CFT Activities

A recent report released by the Hong Kong Monetary Authority (HKMA) has outlined various case studies and insights from banking institutions that have implemented different technologies to improve the overall efficiency and effectiveness of their AML/CFT requirements. The HKMA’s report identifies key opportunities that regulatory technology… Read More

Hong Kong Crypto Financing Provider Amber Group Added Yield Boost on Investing App

Amber Group, a Hong Kong-based crypto finance service provider, announced on Wednesday it is launching a new yield-enhancement product called ‘Yield Boost’ in the Amber App. According to Amber, Yield Boost will allow users to monetize their market view on major crypto assets and earn… Read More

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