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September 6, 2018
On the web
Hong Kong blockchain start-up rolls out Asia’s first cryptocurrency Visa debit card to take on credit cards
South China Morning Post
“The Crypto.com debit card will be linked to wallets for both fiat money and cryptocurrency, which will allow users to spend their cryptocurrencies after converting these into fiat money. The company supports five cryptocurrencies – bitcoin, litecoin, ethereum, MCO and Binance Coin – and these can be converted into seven fiat currencies, including the Singapore dollar, the US dollar and the Hong Kong dollar.”
July 26, 2018
Top Post
Hong Kong Launches Open API
finews.asia
“In a push to move Hong Kong’s financial sector into the era of «Smart Banking», the Hong Kong Monetary Authority said an open application programming interface, or API, will be launched on its official website for public access from Monday. «Open API can help to ensure the competitiveness of the banking sector, encourage more parties to provide innovative and integrated services that improve customer experience,» said HKMA in its statement. It will first release 50 sets of financial data and important information next week, followed by another 80 sets of information in later stages until the middle of next year. These cover frequently assessed information such as statistics on Hong Kong dollar exchange rates, interest rates, the banking sector and the Exchange Fund, which is used to back the currency.”
July 18, 2018
On the web
Hong Kong Regulator, Banks Launch Blockchain-based Trade Finance Platform
Reuters
“Hong Kong’s banking regulator and seven banks, including HSBC Holdings PLC and Standard Chartered PLC, on Tuesday said they will jointly launch a trade finance platform in September using blockchain technology.The platform will be one of the largest examples globally of a government-led, cross-bank effort to reform the multi-billion dollar trade finance sector using the distributed ledger technology that underpins digital currencies such as bitcoin.”
May 29, 2018
On the web
A Payments Battle Is Brewing In Hong Kong
Bloomberg
“Alipay’s azure blue logos began appearing two years ago in Hong Kong’s airport, greeting travelers from China who rely on the popular payments app back home. In recent months, taxis got them. Now stores and boutiques have them. They’re all signs of a battle brewing in Hong Kong that will test whether a Western-style financial system — based on banks, credit and debit cards — can fend off a pair of apps that have come to dominate how people spend and send money throughout China. If Ant Financial’s Alipay and Tencent Holdings Ltd.’s WeChat Pay can expand into the city and win new customers there, why not in Europe and the U.S., too?”
March 30, 2018
On the wires
Octopus App for Business Now Enables All Octopus Users to Pay on Merchant Mobile Devices
“Octopus Cards Limited today launched a new feature to enhance the Octopus App for Business, allowing merchants to accept Octopus card payment through their NFC mobile devices. Users of all Octopus cards and products (including Smart Octopus in Samsung Pay) can simply tap on the merchants’ NFC mobile devices – which can now serve as Octopus readers for easy payments. In collaboration with the Coalition of Hong Kong Newspaper and Magazine Merchants, the new feature will be introduced in the coming months to around 400 newspaper stalls in Hong Kong, commencing in Mong Kok. Existing Octopus App for Business merchants, as well as other businesses and trades in the city can also make use of this new feature for broader consumer coverage.”
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