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November 18, 2024
On the wires
Hang Seng Bank Unveils Newly Renovated Hong Kong Main Branch with the Debut of the Market-New 'Come to You' Service Concept
PR Newswire
Hang Seng Bank unveiled the newly renovated Hong Kong Main Branch in Central with the launch of Future Banking 2.0 – a bold transformation that seamlessly integrates cutting-edge technology with personalised customer service.
October 25, 2024
On the web
Hong Kong Monetary Authority Launches Developer Platform for Data Sharing Initiative
Open Banking Expo
"The Hong Kong Monetary Authority has launched a developer platform in collaboration with the Hong Kong Science and Technology Parks Corporation (HKSTP), as part of its Interbank Account Data Sharing (IADS) initiative."
October 21, 2024
On the web
Aigens [Hong Kong] Integrates Adyen for Platforms to Transform Food and Beverage Sector
Adyen
"Adyen announced its partnership with Aigens, a Hong Kong-based food and beverage (F&B) software-as-a-service (SaaS) provider. Through this collaboration, Aigens incorporates Adyen’s payment capabilities in its Aigens Pay offering, helping restaurants in Hong Kong and Singapore optimize their front- and back-of-house operations with a single omnichannel solution."
October 3, 2024
On the wires
Worldline Partners With Bochk to Launch Open Platform Card Solution in Hong Kong
PR News Wire
"Worldline announced a partnership with the Bank of China (Hong Kong), making it Worldline's first customer of its open platform card solution Paysuite Essential Edition (Previously named Cardlite) in Hong Kong."
September 23, 2024
On the web
HKMA Commences Phase 2 of E-hkd Pilot Programme and Expands Project E-HKD to Explore New Forms of Digital Money
Hong Kong Monetary Authority
"The Hong Kong Monetary Authority commenced Phase 2 of the e-HKD Pilot Programme (Phase 2) to delve deeper into innovative use cases for new forms of digital money, including e-HKD and tokenised deposits, that can potentially be used by individuals and corporates."
September 6, 2024
On the web
Hong Kong Monetary Authority Launches Project Ensemble Sandbox to Advance Tokenization and Digital Finance
The Tokenizer
"The Hong Kong Monetary Authority (HKMA) has officially launched the Project Ensemble Sandbox, a groundbreaking initiative to advance the tokenization of assets in Hong Kong. This project is a key element of Project Ensemble, HKMA’s wholesale central bank digital currency (wCBDC) venture, aimed at supporting the development of the tokenization market."
August 26, 2024
On the web
HKMA and Government to Enhance Financial Data Sharing with CDI-CDEG Linkage
Fintech Hong Kong
"The linkage between the Hong Kong Monetary Authority’s (HKMA) Commercial Data Interchange (CDI) and the Hong Kong Government’s Consented Data Exchange Gateway (CDEG) is now fully operational. Banks can now directly access company information, such as names, registered addresses, facilitating processes like account opening, fraud detection, and Know Your Customer (KYC) procedures."
August 14, 2024
On the web
Hong Kong Central Bank Launches Gen AI Sandbox
Asian Banking & Finance
"The Hong Kong Monetary Authority (HKMA) has collaborated with the Hong Kong Cyberport Management Company to launch a generative AI sandbox. Banks are encouraged to make full use of this resource to unlock the power of GenA.I. in enhancing effective risk management, anti-fraud efforts and customer experience.”
July 31, 2024
On the web
Hong Kong Monetary Authority Proposes Rules for 'Fiat-Referenced' Stablecoins
Decrypt
"The proposed rules would require a physical presence in Hong Kong, reserves to be kept at Hong Kong banks, and prohibit paying interest to holders."
July 19, 2024
On the web
The Hong Kong Monetary Authority Announces Stablecoin Issuer Sandbox Participants
Hong Kong Monetary Authority
"The Hong Kong Monetary Authority announced participants of the stablecoin issuer sandbox: JINGDONG Coinlink Technology Hong Kong Limited, RD InnoTech Limited, Standard Chartered Bank (Hong Kong) Limited, Animoca Brands Limited, Hong Kong Telecommunications Limited."
July 17, 2024
On the web
Consultation Conclusions for Legislative Proposal to Implement Regulatory Regime for Stablecoin Issuers in Hong Kong Released
Hong Kong Monetary Authority
"The Financial Services and the Treasury Bureau and the Hong Kong Monetary Authority jointly issued the consultation conclusions on the legislative proposal to implement a regulatory regime for fiat-referenced stablecoin issuers in Hong Kong. The proposed regulatory requirements and implementation arrangements received general support from respondents, with some further enhancements suggested in the submissions."
June 6, 2024
On the web
Project mBridge Reaches MVP Stage
Hong Kong Monetary Authority
"The Hong Kong Monetary Authority, together with the rest of the mBridge project team, announced that Project mBridge has reached the Minimum Viable Product stage. Project mBridge aims to study how central bank digital currencies (CBDCs) and innovative solutions can be applied to solve the key pain points in cross-border payments."
May 7, 2024
On the wires
InComm Payments Launches Roblox Gift Cards in Hong Kong
PR Newswire
"InComm Payments announced it is launching gift cards for Roblox, the online immersive platform where millions of people connect and communicate daily, at online and physical retailers in Hong Kong."
April 26, 2024
On the wires
Alipay+ Enables Digital Payment of 14 Overseas E-wallets from 9 Countries and Regions in Hong Kong to Support City’s Global Travel Drive
Business Wire
"In support of Hong Kong's new mega tourism and commerce drive, Alipay+ now enables users of 14 leading overseas mobile wallets and bank apps from 9 countries and regions to make seamless payment in Hong Kong from their home apps. This represents the largest number of international payment apps introduced at the city’s offline commercial network through cross-border cooperation at one time."
March 7, 2024
On the web
Hong Kong’s Central Bank Announces New Wholesale CBDC Project to Support Tokenization Market
Coindesk
"Project Ensemble will "seek to explore innovative financial market infrastructure (FMI) that will facilitate seamless interbank settlement of tokenized money," HKMA said."
January 30, 2024
On the web
Hong Kong to Expand e-CNY Pilot
Finance Asia
"HKMA and the PBOC announced further support for the expansion of use cases of the digital yuan in Hong Kong, targeting local consumers and travellers."
January 22, 2024
On the web
The Cheque’s End Is Nigh: Hong Kong’s Banks Set Road Map to Phase Out Paper Payment in Their Embrace of E-payments
South China Morning Post
"The Hong Kong Association of Banks will consider the future of cheques as a payment method amid a 34 per cent decline in their use over the past five years."
December 7, 2023
On the web
Reserve Bank of India Opens Talks With US, Hong Kong for Cross-Border CBDC Features
CoinGeek
"The Reserve Bank of India (RBI) has started discussions with the Hong Kong Monetary Authority (HKMA), the U.S. Federal Reserve, and the international payment platform SWIFT to explore cross-border payments for central bank digital currencies (CBDCs)."
December 4, 2023
On the wires
Thailand, Hong Kong Launch Cross-Border QR Payments
Reuters
"Thailand's central bank and the Hong Kong Monetary Authority on Monday launched a link for cross-border QR payments, they said in a joint statement."
November 2, 2023
On the web
Hong Kong Leading the Charge on Digital Currency After Pilot
Electronic Payments International
"Hong Kong's Monetary Authority recently released a report into its e-HKD pilot, and the results are promising."
September 26, 2023
On the web
mBridge CBDC Project Nearing Commercialization
Blockworks
"Eddie Yue, the CEO of Hong Kong’s central bank, expects that the mBridge CBDC project will gradually transition to commercialization. In a keynote speech at the 2023 Bund Summit, he detailed plans for the platform, which China, Thailand, Hong Kong and the United Arab Emirates are jointly developing in partnership with the Bank of International Settlements."
August 9, 2023
On the wires
UnionPay International Partners with Malaysian Payment Network PayNet to Promote Cross-Border QR Interoperability
PR Newswire
"Today, UnionPay International (UPI) and Payments Network Malaysia Sdn Bhd, or PayNet, Malaysia's national payments network jointly signed an agreement in Shanghai to promote the cross-border QR code linkage and enable the full acceptance of the UnionPay App (Chinese-mainland, Hong Kong and Macao versions) and Chinese-mainland bank apps connected to the UnionPay App Network Payment Platform at the QR merchants in Malaysia."
July 10, 2023
On the wires
Payment Asia Launches Hong Kong's First AI-Powered Processing Service to Promote ESG Awareness
PR Newswire
"Payment Asia, a leading payment solutions provider, has announced the launch of the first AI-powered comprehensive processing service, which includes automated merchant onboarding and assignment of merchant accounts, AI customer service, and an auto accounting system. This marks the first time such a comprehensive suite of automated services has been made available in Hong Kong together with AI development, taking merchants' sales to the next level....Payment Asia is also using ChatGPT, an AI natural language model, to embed in daily customer service, as a powerful tool to provide comprehensive answers in any field."
June 14, 2023
On the web
Hong Kong Eyes Stablecoin Regulatory Regime by 2024
TechCrunch
"While the Western world debates how to regulate stablecoins, Hong Kong is forging ahead with a regulatory framework for cryptocurrencies pegged to traditional financial assets."
June 12, 2023
On the web
Policy Hong Kong Lawmaker Invites Coinbase to Apply to Operate in Region Amid U.S. SEC Crackdown
Coindesk
"A Hong Kong lawmaker invited global virtual asset trading operators, including crypto exchange Coinbase, to come and register in the region. A Hong Kong lawmaker invited global virtual asset trading operators, including crypto exchange Coinbase, to come and register in the region. Hong Kong's Securities and Futures Commission (SFC) began accepting applications for crypto trading platform licenses on June 1."
May 18, 2023
On the web
Hong Kong’s e-HKD Pilot Puts the World on Notice
Forkast
"In a major development for the rollout of central bank digital currencies (CBDCs) worldwide, the Hong Kong Monetary Authority (HKMA) announced the launch of an e-HKD pilot program Thursday, detailing the digital currency’s multiple potential use cases in payments and tokenized deposits. A number of major names from the financial, payment and tech industries will participate in the e-HKD (electronic Hong Kong dollar) pilot project as operational partners. These include state-owned Bank of China, China Construction Bank, Industrial and Commercial Bank of China, HSBC and Standard Chartered Bank."
May 10, 2023
On the web
Hong Kong’s Crypto Market Will Not Have ‘Light-Touch Regulation’, HKMA Chief Says as City Prepares New Rules
South China Morning Post
"Hong Kong does not intend to have relaxed regulations on virtual assets as it seeks to become an international industry hub, a top official said in comments that come just weeks ahead of new licensing rules for crypto exchanges going into effect. “Our regulations will be tight,” Eddie Yue Wai-man, Chief Executive of the Hong Kong Monetary Authority (HKMA), said at the Bloomberg Wealth Asia Summit on Tuesday."
April 18, 2023
On the web
Hong Kong Banks to Decide on CBDC Outlook
Coinspeaker
"Hong Kong has been frantically working toward launching its own central bank digital currency, the e-HKD, in 2023. However, a huge part of the plan is now up to the other banks, according to a CoinDesk report. The central bank of Hong Kong has charged other banks to come up with what they think the CBDC should look like. That is they must decide whether it will be fully centralized or decentralized."
March 6, 2023
On the wires
AsiaPay Launches Visa Instalments
PR Asia
"AsiaPay a leading provider of digital payment solutions in the Asia Pacific, has launched Visa Instalments in Hong Kong and will further extend to Southeast Asia to provide merchants more flexible payment options and enhance the purchase experience of consumers. Leading a new trend in credit card shopping, the launch of value-added service products, such as installment for consumers, not only greatly alleviates the pressure of their short-term capital, meets the consumption desire to buy, improves the quality of life, for businesses, improves the transaction flow, transaction volume, and commodity purchase conversion rate."
March 2, 2023
On the web
China's Digital Yuan Fails to Gain Traction with Hong Kong Visitors – Is China's Digital Currency Facing a Roadblock?
Cryptonews
"Shenzhen, China has initiated a scheme to promote the usage of its digital yuan among Hong Kong tourists by providing them with physical cards and discounts. However, the initial response during the first few days appears to have been lackluster. Per Shenzhen News, the country's first digital yuan hard wallet self-service card issuing machine was officially launched on February 22, providing "convenient" CBDC payment services for people coming to Shenzhen and Hong Kong."
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