City Hong Kong Financial News

Hong Kong is considering allowing spot exchange-traded funds (ETFs) that directly invest in cryptocurrencies.

Attendees of a Yuga Labs’ ApeFest event on Nov. 4 in Hong Kong have reported burns, damaged vision and “extreme pain” in their eyes, which they attribute to the use of improper lighting.

Hong Kong FinTech Week 2023

If you’re in the oddly specific position of being a managing director (MD) cut from Citi in Hong Kong, have no fear; it turns out you can find a new job pretty quickly.

Individual creators and brands will ultimately determine the future of the metaverse as opposed to any centralized entity, according to the co-founders of The Sandbox.

Investing.com-- Most Asian stocks rose sharply on Friday, encouraged by strength on Wall Street and increased bets that the Federal Reserve was done with its run of interest rate hikes, although focus still remained on key U.S. payrolls data due later in the day.

By Kane Wu and Scott Murdoch

The Securities and Futures Commission (SFC) of Hong Kong has issued two circulars to regulate digital asset tokenization.

Via was one of sixteen firms selected by the Hong Kong Monetary Authority in May to test potential use cases for a central bank digital currency.For its trial, Visa along with HSBC and Hang Seng Bank focused on simulating two use cases of interbank B2B payment flows — property payments and acquirer-merchant settlement - each tailored to the Hong Kong market. Visa says the pilot demonstrated the potential benefits of tokenised deposits for B2B payments in terms of payment speed, settlement risk control, network resilience, and transaction transparency.Nischint Sanghavi, head of digital currencies, Asia Pacific, Visa says: “Through the pilot programme, Visa has highlighted various potential benefits for the deployment of CBDCs, such as quicker settlements, a more seamless payment experience for high-value transactions, better transparency, as well as other benefits that come with an ‘always-on’ infrastructure.

At the KUN & Hashkey Exchange strategic cooperation signing ceremony held earlier today, Dr. Xiao Feng, the founder of Hashkey Group, announced plans to issue a stablecoin backed by the Hong Kong dollar.

Hong Kong is mapping out clear guidelines for tokenization and digital assets. The city aims to achieve a mix of innovation and consumer protection for both the developers and the users. This initiative, as part of a broader push, is steered towards placing Hong Kong at the center of fintech evolution in Asia.

Amidst the $213 million scandal involving the cryptocurrency exchange JPEX, the Hong Kong government has maintained its commitment to advancing its Web3 vision for the region.

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The Hong Kong government says the recent $165 million alleged scandal involving crypto exchange JPEX won’t stifle its Web3 vision for the region.

Visa, a global leader in payments technology, has announced the successful completion of a pilot test of tokenized deposits using central bank digital currencies (CBDCs).

HONG KONG (Reuters) — The Hong Kong Monetary Authority (HKMA) on Thursday left its base rate charged through the overnight discount window unchanged at 5.75%, tracking a move by the U.S. Federal Reserve to keep rates steady.

Payment processor Visa has completed the Hong Kong Monetary Authority's central bank digital currency (CBDC) Pilot Programme with HSBC and Hang Seng Bank.

Banking giant the Hong Kong and Shanghai Banking Corporation (HSBC) has tested the use of tokenized deposits — from issuance to transfer to redemption — with major Chinese financial services provider Ant Group, founded by Jack Ma, in a sandbox arranged by the Hong Kong Monetary Authority.

The initiative aims to explore the potentials of deposit tokenisation in enabling always-on, real-time treasury fund movement between accounts held by a corporate within the HSBC network.Conducted under the Hong Kong Monetary Authority's Fintech Supervisory Sandbox arrangement, the test encompassed the issuance, transfer, and redemption of deposit tokens. During the test, HSBC was connected to the blockchain platform developed by Ant Group.

Hivemind Capital Partners, a prominent web3 and digital asset investment firm, has announced plans to expand operations to Hong Kong.

Hong Kong-based cryptocurrency exchange HashKey has ventured into the retail trading sector with the official launch of its trading app, making it the first licensed virtual asset exchange app in Hong Kong.