HONG KONG MONETARY AUTHORITY

Securities / Derivatives

Hong Kong Lists First Company via De-SPAC Transaction

By Editors | 03/11/2024

HK Acquisition Corp completed a merger with e-commerce solutions provider Synagistics, making it the first de-SPAC transaction completed in Hong Kong.

Fintech / Regtech

BOE Flags Potential Risks of GenAI for Financial Sector

By Thisanka Siripala | 01/11/2024

BOE’s Sarah Breeden suggested that stress tests be conducted to determine whether AI models could amplify market shocks.

Crypto / Digital Assets

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.

Market Infrastructure

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.

Fintech / Regtech

HKMA Launches New Platform to Boost Fintech Collaboration

By Sanday Chongo Kabange | 30/10/2024

The “Fintech Connect” platform will help banks discover innovative solutions developed and offered by fintech solution providers.

AML / KYC

Hong Kong to Introduce Anti-Fraud Alerts on ATMs Next Year

By Sanday Chongo Kabange | 29/10/2024

Alerts will pop up for ATM users when they enter details of recipient accounts that have been flagged as “high risk” in the Scameter database.

Fintech / Regtech

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.

Crypto / Digital Assets

HK Bank Completes ‘First-of-its-Kind’ Sandbox Test Using Tokenised Deposits

By Sanday Chongo Kabange | 29/10/2024

The simulation covered trading of the tokenised fund unit for its institutional clients and cross-bank settlement using tokenised deposits.

Fintech / Regtech

HKMA, PBOC to Pilot Cross-Boundary Payments Link in Mid-2025

By Sanday Chongo Kabange | 29/10/2024

The HKMA says a pilot launch for a cross-boundary payment linkage between Hong Kong’s FPS and China’s IBPS will tentatively launch in mid-2025.