Hong Kong is Aggressively Developing itself as a Leading Fintech Hub
Late last month, the Hong Kong Monetary Authority (HKMA) announced the issuance of the very first virtual banking licenses. While many jurisdictions around the world are pursuing policies that...
View ArticleHong Kong Monetary Authority Approves Virtual Bank License for WeLab Digital...
Welab Digital Limited (WDL) has been approved by the Hong Kong Monetary Authority (HKMA) to receive a virtual banking license. This is the 4th license for a virtual bank which is now approved to...
View ArticleChina: WeiyangX Fintech Review
China Implements First National Standard for Insurance Sector On April 11th, China has implemented its first national standard for the insurance industry. The national standard incorporates 817 entries...
View ArticleHong Kong Monetary Authority Grants Four New Virtual Banking Licenses
The Hong Kong Monetary Authority (HKMA) has issued four more virtual banking licenses. The newly minted digital banks include: Ant SME Services (Hong Kong) Limited, Infinium Limited, Insight Fintech HK...
View ArticleChina: WeiyangX Fintech Review
Beijing: unpaid parking fees may be included in your personal credit report Since January 2019, the Beijing Municipal Commission of Transport has introduced digital payments for all curb parking areas...
View ArticleHong Kong Monetary Authority & Bank of Thailand Sign MoU on Fintech...
The Hong Kong Monetary Authority (HKMA) and the Bank of Thailand (BOT) have signed a Memorandum of Understanding (MoU) to collaborate on Fintech innovation between the two regulatory authorities. The...
View ArticleHonk Kong Monetary Authority Shares Update on Global Financial Innovation...
The Hong Kong Monetary Authority (HKMA) has posted a deck on GFin or the Global Financial Innovation Network. Hong Kong has emerged as a leading Fintech hub having embraced innovation in financial...
View ArticleHong Kong Monetary Authority Comments on BIS Innovation Hub Launch
The Hong Kong Monetary Authority (HKMA) has issued a statement on the launch off the Bank for International Settlements (BIS) Innovation Hub opening in Hong Kong. BIS announced on June 30th its intent...
View ArticleThe Hong Kong Monetary Authority Forms Fintech Partnership with the French...
The Hong Kong Monetary Authority (HKMA) and Autorité de Contrôle Prudentiel et de Résolution (ACPR) in France have signed a Memorandum of Understanding (MoU) to “enhance collaboration between the two...
View ArticleOpen Banking: Learning Lessons from Asia
With the implementation of PSD2 in Europe, Open Banking payment solutions are starting to be rolled out across the UK and Europe. But while the core Open Banking payment solutions are live, there is a...
View ArticleChinese Tech Giant Tencent to Launch a Blockchain-based Virtual Bank in Hong...
Chinese tech giant Tencent is reportedly preparing to launch a blockchain-enabled virtual bank, after the company obtained a license from the Hong Kong Monetary Authority (HKMA). Previously, Crowdfund...
View ArticleThe Hong Kong Monetary Authority Publishes Report on Artificial Intelligence...
The Hong Kong Monetary Authority (HKMA) has published a report entitled “Reshaping Banking with Artificial Intelligence.” The Report is part of a series of publications on applying AI technology,...
View ArticleFirst: ZA Bank Ltd. Pilots Digital Banking Solution in Hong Kong By Offering...
ZA Bank Ltd. is reportedly testing internet-only banking solutions in Hong Kong, which notably makes it the first organization to provide such services in the city as the Asian financial hub continues...
View ArticleHong Kong Institute of Bankers Welcomes Six Digital Banks as Corporate Members
The Hong Kong Institute of Bankers (HKIB) has onboarded six digital banks as corporate members according to a note published by the association. The HKIB is a non-profit organization that offers...
View ArticleProject Inthanon-LionRock: Hong Kong Monetary Authority Posts Report on...
The Hong Kong Monetary Authority (HKMA) has posted a deck on its investigation into Central Bank Digital Currency (CBDCs). Project LionRock is the CBDC blockchain from Hong Kong and Inthanon is from...
View ArticleContactless Smart Payment Card Developer Macau Pass S.A. Introduces Alipay HK...
Macau Pass S.A., the developer of a contactless smartcard (previously called Transmac IC Card), first launched the Transmac over 20 years back (in 1999). The card may be used to conveniently pay for...
View ArticleFintech Platforms in Hong Kong Seen As An Opportunity by Incumbents, Not a...
Over the course of the next ten years, banking institutions are planning to play a major role in supporting Fintech projects and the adoption of all-digital platforms. A new report suggests that...
View ArticleHong Kong Monetary Authority Asks Regulated Firms to Support Regtech
The Hong Kong Monetary Authority (HKMA) has distributed a letter asking “authorized firms” to support the development of regulatory technology or Regtech. The HKMA says its ultimate objective is to...
View ArticleWeLab Bank Introduces its Digital Banking Platform in Hong Kong’s Competitive...
WeLab Bank has confirmed the public launch of its digital banking services. WeLab Bank is notably the only stand-alone firm to acquire a virtual bank license from the Hong Kong Monetary Authority...
View ArticleBank for International Settlements Innovation Hub Partners with Hong Kong...
The Bank for International Settlements Innovation Hub (BISIH) Centre in Hong Kong and the Hong Kong Monetary Authority (HKMA) have partnered on a trade finance project to highlight the opportunity to...
View Article
