Digital Assets

Cryptocurrency

Hong Kong’s ZA Bank Starts Trials for New Crypto Trading Service

By Sanday Chongo Kabange | 30/10/2024

ZA Bank CEO Ronald Iu said the trial demonstrates the digital bank’s commitment to supporting the wider development of virtual assets in Hong Kong.

AI Risk & Governance

MAS Establishes New Entity to Drive Next Phase of FinTech Growth

By Editors | 30/10/2024

MAS said the “Global Finance & Technology Network” will drive greater synergies within the global finance and technology communities for innovations in financial services.

Cryptocurrency

BSP Grants Virtual Assets Authorisation to GoTyme Bank

By Sanday Chongo Kabange | 30/10/2024

GoTyme is only the second bank to be given authorisation to explore the potential introduction of digital asset services for customers.

Cryptocurrency

Hong Kong Considering Tax Breaks to Promote Virtual Asset Market

By Manesh Samtani | 30/10/2024

Christopher Hui said the government will introduce further tax concessions for fund managers and family offices to promote the development of certain asset classes, including virtual assets.

CBDCs

BOCHK Becomes First Bank to Use mBridge to Automate Remittances

By Sanday Chongo Kabange | 30/10/2024

BOCHK says it has completed the first fully automated cross-border remittance via mBridge and will continue to do so for selected corporate customers.

Tokenisation

SFC, Exchanges See Blockchain as New Capital Market Backbone

By Georgina Lee | 30/10/2024

Hong Kong now looking at commercialising tokenised instruments to help address the pain points of the traditional financial market, said the SFC’s Elizabeth Wong.

Payments & Settlements

BIS and APAC Central Banks Release Results of Project Mandala

By Sanday Chongo Kabange | 29/10/2024

Project Mandala demonstrated that jurisdiction-specific regulatory requirements can be embedded in cross-border transaction protocols.

Tokenisation

HKMA Establishes Tokenisation Partnerships with Thailand, Brazil

By Sanday Chongo Kabange | 29/10/2024

The HKMA will collaborate with the central banks of Thailand and Brazil to explore cross-border tokenisation use cases, leveraging the Project Ensemble sandbox.

CBDCs

Central Banks Explore Multiple CBDC Uses as e-CNY Faces Roadblocks

By Georgina Lee | 29/10/2024

While China largely focuses on retail payments for its CBDC, other central banks are exploring use cases involving tokenised real estate investments and DeFi transactions.