https://www.scmp.com/rss/324813/feed Stories about how technology is used to enhance financial services, covering banking and securities en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Enoch Yiu Enoch Yiu HSBC and a joint venture led by Standard Chartered have been awarded Hong Kong’s first stablecoin issuer licences, marking the city’s latest step towards embracing cryptocurrency’s most-traded cash substitute in its bid to become a global digital asset hub. Eight months after Hong Kong’s Stablecoin Ordinance, one of the world’s first such laws, took effect, HSBC and Anchorpoint Financial, the Standard Chartered-led group, received the green light from the Hong Kong Monetary Authority (HKMA) on... https://www.scmp.com/business/cryptocurrency/article/3349644/hong-kong-awards-stablecoin-licences-hsbc-stanchart-led-group-long-awaited-roll-out?utm_source=rss_feed https://www.scmp.com/business/cryptocurrency/article/3349644/hong-kong-awards-stablecoin-licences-hsbc-stanchart-led-group-long-awaited-roll-out?utm_source=rss_feed Fri, 10 Apr 2026 09:09:55 +0000 Aileen Chuang Aileen Chuang HSBC and a joint venture led by Standard Chartered are expected to be among the first companies to obtain Hong Kong’s stablecoin licences within two weeks, according to people familiar with the matter. The number of licences and timetable had yet to be finalised and remained subject to change, but sources said a possible date was March 24. The two banks declined to comment. The Hong Kong Monetary Authority (HKMA) last month revealed that a small number of stablecoin licences would be granted... https://www.scmp.com/business/cryptocurrency/article/3346311/hong-kong-poised-grant-first-stablecoin-licences-hsbc-standard-chartered-sources?utm_source=rss_feed https://www.scmp.com/business/cryptocurrency/article/3346311/hong-kong-poised-grant-first-stablecoin-licences-hsbc-standard-chartered-sources?utm_source=rss_feed Thu, 12 Mar 2026 09:00:08 +0000 Enoch Yiu Enoch Yiu Hong Kong and Shanghai have signed an accord deepening their collaboration in promoting digitised cargo trade finance and strengthening mainland China’s connection to the global data ecosystem. The Hong Kong Monetary Authority (HKMA) on Monday signed a memorandum of understanding (MOU) with the Shanghai Data Bureau and the National Technology Innovation Centre for Blockchain, according to a statement from Hong Kong’s de facto central bank. “This marks an important milestone in the collaboration... https://www.scmp.com/business/banking-finance/article/3345160/hong-kong-shanghai-sign-pact-digital-trade-finance-cross-border-data-link?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3345160/hong-kong-shanghai-sign-pact-digital-trade-finance-cross-border-data-link?utm_source=rss_feed Mon, 02 Mar 2026 10:55:30 +0000 Aileen Chuang,Emily Hung Aileen Chuang,Emily Hung Hong Kong is aiming to sharpen its competitive edge as an offshore yuan hub, an asset and wealth management base, and a digital-asset front runner under Financial Secretary Paul Chan Mo-po’s budget released on Wednesday. Market participants largely welcomed Hong Kong’s renewed push to strengthen its position as an international financial centre, after Chan highlighted the city’s unique role in driving the yuan’s internationalisation and capital account opening. The initiative comes as Beijing... https://www.scmp.com/news/hong-kong/article/3344634/hong-kong-seeks-hone-edge-offshore-yuan-hub-digital-asset-front-runner?utm_source=rss_feed https://www.scmp.com/news/hong-kong/article/3344634/hong-kong-seeks-hone-edge-offshore-yuan-hub-digital-asset-front-runner?utm_source=rss_feed Wed, 25 Feb 2026 12:23:24 +0000 Aileen Chuang Aileen Chuang Deeper regulatory ties and a shared push for new growth sectors are expected to give fresh impetus to cross-border investment flows between China and the Middle East, according to industry players and a United Arab Emirates (UAE) regulator. Hong Kong would benefit from the increased China-Middle East cooperation as the city develops into “a key hub for Middle Eastern capital to deploy in Asia and an important gateway for Chinese capital to go global to the Middle East,” said Linda Cai, inbound... https://www.scmp.com/business/banking-finance/article/3344127/hong-kong-uae-solidify-financial-links-deeper-regulatory-ties-digital-assets-focus?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3344127/hong-kong-uae-solidify-financial-links-deeper-regulatory-ties-digital-assets-focus?utm_source=rss_feed Sun, 22 Feb 2026 03:00:12 +0000 Aileen Chuang Aileen Chuang This Lunar New Year, Hongkongers can gift friends and family digital gold tokens, a new way of blending the city’s tradition of giving gold for good wishes with the convenience of blockchain technology. HSBC added this new transfer feature earlier this month to its retail gold token, which represents fractional ownership of physical gold stored in a secure vault and is the only retail-focused gold token approved by Hong Kong’s Securities and Futures Commission. The bank’s enhancement to its gold... https://www.scmp.com/business/cryptocurrency/article/3343695/what-tokenised-gold-and-why-are-financial-institutions-and-investors-looking-it?utm_source=rss_feed https://www.scmp.com/business/cryptocurrency/article/3343695/what-tokenised-gold-and-why-are-financial-institutions-and-investors-looking-it?utm_source=rss_feed Tue, 17 Feb 2026 02:00:17 +0000 Ralph Jennings,Kandy Wong Ralph Jennings,Kandy Wong Indonesia, home to one of the world’s largest unbanked and underbanked populations, is pushing to enhance financial inclusion. “In Indonesia, the role of digitalisation is essential,” said Kartika Wirjoatmodjo, chairman of the board and president commissioner at PT Bank Rakyat Indonesia, at the China Conference: Southeast Asia 2026 in Jakarta on Tuesday. PT Bank Rakyat Indonesia is the oldest bank in the country and has made expanding financial inclusion in the Southeast Asian nation a top... https://www.scmp.com/economy/global-economy/article/3343090/indonesia-turns-digital-finance-reach-unbanked-population?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3343090/indonesia-turns-digital-finance-reach-unbanked-population?utm_source=rss_feed Tue, 10 Feb 2026 12:44:27 +0000 Themis Qi Themis Qi Hong Kong’s banking regulator has unveiled four flagship projects, including a quantum computing readiness index, to help the city’s lenders stay competitive and secure in the artificial intelligence era. The Hong Kong Monetary Authority (HKMA) said the initiatives formed part of its new Fintech Promotion Blueprint, aimed at guiding responsible innovation and preparing the city’s banking sector for rapid technological change. The blueprint was announced on Tuesday in response to industry... https://www.scmp.com/business/banking-finance/article/3342268/hkma-launches-quantum-readiness-and-cybersecurity-projects-banks-ai-era?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3342268/hkma-launches-quantum-readiness-and-cybersecurity-projects-banks-ai-era?utm_source=rss_feed Tue, 03 Feb 2026 12:31:41 +0000 Aileen Chuang Aileen Chuang China has emerged as the world’s second most competitive country for artificial intelligence in finance, ranking behind the US but well ahead of the rest of Asia, according to a global index. China scored 83.41 in the Global AI Competitiveness Index, trailing the US at 98.84 and ahead of the UK at 78.26, a report released on Wednesday by think tank Deep Knowledge Group showed. Switzerland ranked fourth, followed by Singapore, Germany, Saudi Arabia and India. The world’s second-largest economy... https://www.scmp.com/business/banking-finance/article/3341439/china-second-only-us-global-ai-finance-index-hong-kong-third-city-hub?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3341439/china-second-only-us-global-ai-finance-index-hong-kong-third-city-hub?utm_source=rss_feed Wed, 28 Jan 2026 03:30:12 +0000 SCMP Editorial SCMP Editorial To stay competitive in an increasingly complex global landscape, Hong Kong must continue to develop and adapt to new technologies and trends. Nowhere is this more needed than in trade and finance, the lifeblood of the city’s economy. While we are lucky to have the world’s second-largest economy as our financial backbone, maintaining our position as a key hub requires consistent upgrading and improvement with a robust, globally connected digital trade infrastructure. The city has emerged as a... https://www.scmp.com/opinion/comment/article/3340992/trade-finance-hong-kong-set-competitive-tech-upgrade?utm_source=rss_feed https://www.scmp.com/opinion/comment/article/3340992/trade-finance-hong-kong-set-competitive-tech-upgrade?utm_source=rss_feed Sun, 25 Jan 2026 22:45:10 +0000 SCMP Editorial SCMP Editorial The challenges facing Hong Kong have never been greater in a fast-changing world that is being reshaped by new technology and shifting economic and political orders. But there are also enormous opportunities, given our unique role as China’s most open and internationalised economy. The Hong Kong government should continue to unite different sectors to play to their strengths under “one country, two systems” and develop in a way mutually beneficial to the country and the city. A top forum... https://www.scmp.com/opinion/comment/article/3340148/greater-bay-area-collaboration-can-help-hong-kong-rise-challenges-ahead?utm_source=rss_feed https://www.scmp.com/opinion/comment/article/3340148/greater-bay-area-collaboration-can-help-hong-kong-rise-challenges-ahead?utm_source=rss_feed Fri, 16 Jan 2026 23:15:11 +0000 Iris Deng Iris Deng Hong Kong and Shenzhen are establishing a white list for data transfers as part of an overarching effort to forge closer cross-border ties, which policymakers and business leaders see as essential to unlocking opportunities in artificial intelligence and fintech in the region. “If you have a white list to facilitate the movement of sensitive data, biological data and samples between Hong Kong and [mainland] China, it would ensure trust between [parties sending and receiving information] because... https://www.scmp.com/business/banking-finance/article/3340022/hong-kong-shenzhen-push-secure-data-corridor-unlock-ai-and-fintech-opportunities?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3340022/hong-kong-shenzhen-push-secure-data-corridor-unlock-ai-and-fintech-opportunities?utm_source=rss_feed Thu, 15 Jan 2026 10:00:49 +0000 Zhou Xin Zhou Xin Hong Kong and Shenzhen can work closely to empower finance with artificial intelligence, delegates said on Thursday at the China Conference: Greater Bay Area, an event hosted by the South China Morning Post. Joseph Chan Ho-lim, undersecretary for Financial Services and the Treasury in the Hong Kong government, said Hong Kong and Shenzhen were seeking deeper cooperation between finance and technology. Chan said at the event in Qianhai, a bonded zone in Shenzhen, that Hong Kong, as a... https://www.scmp.com/business/banking-finance/article/3339943/hong-kong-and-shenzhen-forge-close-ties-finance-and-ai-build-world-class-fintech-hub?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3339943/hong-kong-and-shenzhen-forge-close-ties-finance-and-ai-build-world-class-fintech-hub?utm_source=rss_feed Thu, 15 Jan 2026 02:13:48 +0000 Enoch Yiu Enoch Yiu The Hong Kong Monetary Authority (HKMA) expects to work with other financial regulators to promote artificial intelligence adoption in various sectors over the next five years and further advance fintech development, according to the head of the city’s de facto central bank. Under the five-year plan called Fintech 2030 that starts this year, the HKMA would expand the scope of the city’s generative AI sandbox to include more industries as a step towards enhancing risk management, fraud detection... https://www.scmp.com/business/banking-finance/article/3338531/hkma-talks-sfc-insurance-authority-promote-fintech-over-next-5-years?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3338531/hkma-talks-sfc-insurance-authority-promote-fintech-over-next-5-years?utm_source=rss_feed Mon, 05 Jan 2026 00:30:16 +0000 Aileen Chuang Aileen Chuang Digital finance has moved into the mainstream as regulated stablecoins and tokenised assets scale up, but industry experts say 2026 will be defined by success in developing interoperable, regulated, use-case-driven rails rather than more digital silos. As more than 130 jurisdictions explore central bank digital currencies (CBDCs), alongside dozens of stablecoin initiatives and a growing array of tokenisation platforms, day-to-day payments and finance are undergoing a rapid structural... https://www.scmp.com/business/cryptocurrency/article/3338656/digital-finance-2026-what-expect-pilot-schemes-move-real-world-use?utm_source=rss_feed https://www.scmp.com/business/cryptocurrency/article/3338656/digital-finance-2026-what-expect-pilot-schemes-move-real-world-use?utm_source=rss_feed Sun, 04 Jan 2026 23:30:15 +0000 Aileen Chuang Aileen Chuang Hong Kong is emerging as a neutral hub bridging the technological strengths of East and West while leveraging its robust education and financial systems to drive the next wave of artificial intelligence transformation in businesses, according to PwC executives. As companies worldwide pushed to move AI from isolated experiments to capabilities deployed at scale, not just to solve problems but to unlock new revenue opportunities, Hong Kong was “well‑positioned” to harness the technology’s... https://www.scmp.com/business/companies/article/3337571/hong-kong-emerging-worlds-ai-crossroads-between-east-and-west-pwc?utm_source=rss_feed https://www.scmp.com/business/companies/article/3337571/hong-kong-emerging-worlds-ai-crossroads-between-east-and-west-pwc?utm_source=rss_feed Fri, 26 Dec 2025 06:30:08 +0000 Enoch Yiu Enoch Yiu The success of the government’s Hong Kong Investment Corporation (HKIC) in establishing an ecosystem for start-ups to raise funds has put a damper on the Christmas plans for employees of some local venture capital (VC) firms. “After partnering with the HKIC, the number of deals we are working on this year has tripled compared to last year,” said David Chang, founder and CEO of leading VC firm MindWorks. He added that 2025 was one of the busiest years for the firm since its establishment 11 years... https://www.scmp.com/business/banking-finance/article/3337374/hkic-ends-year-high-note-hong-kong-cost-living-drawback-attracting-talent?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3337374/hkic-ends-year-high-note-hong-kong-cost-living-drawback-attracting-talent?utm_source=rss_feed Tue, 23 Dec 2025 02:30:13 +0000 Enoch Yiu Enoch Yiu One of Hong Kong’s oldest lenders is stepping up its push into digital finance, teaming up with newly listed digital asset exchange HashKey Exchange to launch a co-branded credit card in the first half of next year. Shanghai Commercial Bank (SCB), which marked its 75th anniversary this year, will partner with HashKey Exchange to issue a Visa credit card exclusively for investors trading on the digital asset platform, according to chief executive Wallace Lam Wing-ted. HashKey, one of 11 licensed... https://www.scmp.com/business/banking-finance/article/3337332/old-lender-new-twist-shanghai-commercial-bank-teams-hashkey-credit-card?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3337332/old-lender-new-twist-shanghai-commercial-bank-teams-hashkey-credit-card?utm_source=rss_feed Tue, 23 Dec 2025 00:30:08 +0000 Aileen Chuang Aileen Chuang Shares of HashKey Holdings, operator of Hong Kong’s largest licensed cryptocurrency exchange, were flat on their trading debut, as investors shunned risk amid a downturn in the digital asset market. Trading under the stock code 3887, HashKey shares first changed hands on Wednesday at HK$6.70, or 0.3 per cent above the offer price of HK$6.68 a share. The stock fluctuated between gains of up to 6.6 per cent and losses of as much as 8.4 per cent before closing 0.2 per cent lower at HK$6.67. The... https://www.scmp.com/business/banking-finance/article/3336692/hashkeys-lukewarm-debut-tests-hong-kongs-ambitions-digital-asset-hub?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3336692/hashkeys-lukewarm-debut-tests-hong-kongs-ambitions-digital-asset-hub?utm_source=rss_feed Wed, 17 Dec 2025 01:41:22 +0000 Coco Feng Coco Feng The United Arab Emirates (UAE) is rapidly cementing its position as a global leader in the digital asset sector on the back of its regulatory infrastructure and the institutional adoption of cryptocurrencies, according to industry insiders at the fourth edition of Abu Dhabi Finance Week (ADFW). Speaking at ADFW, the largest financial and investment gathering in the Middle East and North Africa, Binance co-CEO Richard Teng said the UAE had been at the industry’s forefront, as capital city Abu... https://www.scmp.com/tech/blockchain/article/3336083/coins-sand-how-uae-draws-global-crypto-community?utm_source=rss_feed https://www.scmp.com/tech/blockchain/article/3336083/coins-sand-how-uae-draws-global-crypto-community?utm_source=rss_feed Fri, 12 Dec 2025 01:00:25 +0000 Reuters Reuters Cryptocurrencies tumbled on Thursday and bitcoin fell back below the US$90,000 threshold in a renewed signal of market jitters, as fresh concerns about artificial intelligence profits weighed on technology stocks. Risk sentiment turned sour after US cloud firm Oracle’s profit and revenue outlook missed forecasts and executives flagged higher spending – a sign that AI infrastructure outlays are not turning profits as quickly as investors had hoped. Bitcoin was last down 2.5 per cent at... https://www.scmp.com/tech/blockchain/article/3336042/bitcoin-drops-below-us90000-ai-worries-sour-risk-appetite?utm_source=rss_feed https://www.scmp.com/tech/blockchain/article/3336042/bitcoin-drops-below-us90000-ai-worries-sour-risk-appetite?utm_source=rss_feed Thu, 11 Dec 2025 08:03:27 +0000 Wency Chen Wency Chen Ant International, the Singapore-based affiliate of Chinese fintech giant Ant Group, has named US basketball star Sabrina Ionescu as its global brand ambassador in a fresh partnership between sports and tech. The four-time all-star in the US Women’s National Basketball Association (WNBA) was chosen as part of an effort to expand access to financial tools via innovative technology, the digital payments provider said on Tuesday. The 28-year-old point guard – an Olympic gold medallist and the top... https://www.scmp.com/tech/big-tech/article/3335649/ant-international-signs-wnba-star-sabrina-ionescu-brand-ambassador?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3335649/ant-international-signs-wnba-star-sabrina-ionescu-brand-ambassador?utm_source=rss_feed Mon, 08 Dec 2025 16:01:07 +0000 Aileen Chuang Aileen Chuang The rapid rise of tokenisation risks repeating China’s earlier boom-and-bust cycle in peer-to-peer lending unless clear industry standards are established to ensure discipline and innovation, according to a senior Chinese asset manager. Some multilevel marketing companies in mainland China have already started holding meetings discussing real-world asset (RWA) tokenisation projects over the past year, raising “genuine concerns” that the nascent industry might be heading towards a... https://www.scmp.com/business/china-business/article/3334658/tokenisation-trend-risks-repeat-chinas-p2p-lending-crisis-asset-manager-warns?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3334658/tokenisation-trend-risks-repeat-chinas-p2p-lending-crisis-asset-manager-warns?utm_source=rss_feed Sun, 30 Nov 2025 23:30:12 +0000 Enoch Yiu Enoch Yiu When Alvin Kwock, co-founder of digital insurer OneDegree, took part in the inaugural Hong Kong FinTech Week in November 2016, it was held at a venue suitable for only a few hundred people. “As it was the first ever fintech event in Hong Kong, only fintech start-ups were interested, no big financial institutions paid attention,” Kwock said. “People did not have a clear idea of fintech as it was still in an exploratory stage.” In the years since, fintech in Hong Kong has gone through a sea... https://www.scmp.com/business/banking-finance/article/3334469/work-progress-hong-kong-reaps-fruits-fintech-seeds-sown-nearly-10-years-ago?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3334469/work-progress-hong-kong-reaps-fruits-fintech-seeds-sown-nearly-10-years-ago?utm_source=rss_feed Sat, 29 Nov 2025 02:00:10 +0000 Richard Lord Richard Lord One of the most exciting uses of the blockchain is the tokenisation of real world assets – the ability to represent traditional financial assets as digital units. In theory, you can tokenise anything: funds, stocks, bonds, commodities, real estate, private equity – even artworks. There are a number of compelling advantages to doing so, especially as institutions are already seeing benefits all the way up to the retail level. China Asset Management (Hong Kong), for instance, launched digital... https://www.scmp.com/special-reports/special-reports/topics/wealth-alternative-investments/article/3332738/tokenisation-can-hong-kong-unlock-real-world-asset-potential?utm_source=rss_feed https://www.scmp.com/special-reports/special-reports/topics/wealth-alternative-investments/article/3332738/tokenisation-can-hong-kong-unlock-real-world-asset-potential?utm_source=rss_feed Thu, 27 Nov 2025 21:30:08 +0000 Olga Wong,Enoch Yiu Olga Wong,Enoch Yiu One of Europe’s most prominent fintech companies, UK-based digital bank Revolut, plans to set up operations in Hong Kong, the Post has learned, after executives met the city’s financial chief in London. The news emerged on Tuesday as Financial Secretary Paul Chan Mo-po commenced his visit to the British capital, where he also met representatives from family offices across Europe, the Middle East and Asia. Chan on Tuesday also attended a dinner hosted by Hong Kong’s Trade Development Council,... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3334174/fintech-firm-revolut-plans-set-hong-kong-paul-chan-touts-citys-strengths-uk?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3334174/fintech-firm-revolut-plans-set-hong-kong-paul-chan-touts-citys-strengths-uk?utm_source=rss_feed Wed, 26 Nov 2025 04:12:47 +0000 Aileen Chuang Aileen Chuang Hong Kong-based Tykhe Capital Group and Malaysia’s Skyvast Digital have launched a US$150 million tokenised fund that offers investors exposure to artificial intelligence infrastructure, using an innovative arrangement designed to share project revenues and boost liquidity. SKYD Token was “the world’s first global-grade AI infrastructure tokenised fund”, Tykhe’s subsidiary, Pioneer Asset Management, and AI infrastructure developer Skyvast said in a press release on Monday. The fund will provide... https://www.scmp.com/business/article/3333957/hong-kong-and-malaysian-firms-roll-out-us150-million-tokenised-ai-infrastructure-fund?utm_source=rss_feed https://www.scmp.com/business/article/3333957/hong-kong-and-malaysian-firms-roll-out-us150-million-tokenised-ai-infrastructure-fund?utm_source=rss_feed Mon, 24 Nov 2025 10:30:10 +0000 Aileen Chuang Aileen Chuang Hong Kong’s push to establish a tokenised financial system is poised to attract more companies to set up treasury centres in the city, which would give investors broader options while reducing transaction costs, according to market players. Both corporations and individuals stood to benefit from increased tokenisation of money and assets, which could make financial services faster and more efficient and accessible, said representatives from Standard Chartered, China Asset Management (Hong Kong)... https://www.scmp.com/business/banking-finance/article/3333790/hong-kongs-tokenisation-drive-set-boost-treasury-centres-and-investments?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3333790/hong-kongs-tokenisation-drive-set-boost-treasury-centres-and-investments?utm_source=rss_feed Mon, 24 Nov 2025 00:30:14 +0000 Bloomberg Bloomberg The cryptocurrency market extended a more than month-long retreat during Asia trading on Friday. Market bellwether bitcoin dropped as much as 2.1 per cent to reach below US$86,000 for the first time since April, as the market struggled to find new buyers and the momentum that had supported prices earlier this year evaporated. The pullback comes after weeks of unwinding among fast-moving traders and lingering positioning from October’s record run-up, which has left the market more vulnerable to... https://www.scmp.com/tech/blockchain/article/3333668/cryptocurrency-market-extends-slide-bitcoin-falls-below-us86000?utm_source=rss_feed https://www.scmp.com/tech/blockchain/article/3333668/cryptocurrency-market-extends-slide-bitcoin-falls-below-us86000?utm_source=rss_feed Fri, 21 Nov 2025 07:29:34 +0000 Xinmei Shen Xinmei Shen Some of China’s cryptocurrency heavyweights have called off a US$500 million ether digital asset treasury (DAT) project, as the broader crypto market remains in a slump, according to people familiar with the matter. The project was initiated earlier this year by Huobi founder Leon Li Lin, HashKey Group chairman and CEO Xiao Feng, Meitu co-founder Mike Cai Wensheng and Fenbushi Capital founder Bo Shen, who aimed to raise US$500 million to launch a DAT firm that would invest in the world’s... https://www.scmp.com/tech/blockchain/article/3333429/chinese-crypto-founders-shelve-us500-million-ether-digital-asset-treasury-project?utm_source=rss_feed https://www.scmp.com/tech/blockchain/article/3333429/chinese-crypto-founders-shelve-us500-million-ether-digital-asset-treasury-project?utm_source=rss_feed Wed, 19 Nov 2025 12:00:10 +0000 Aileen Chuang,Danielle Popov Aileen Chuang,Danielle Popov China has cemented its position as a global leader in artificial intelligence, while Hong Kong is carving out a niche as a specialised innovation hub, underpinned by the country’s strong governance and regulatory competitiveness, according to a global index. Technology breakthroughs such as the low-cost, highly efficient AI models introduced by start-up DeepSeek, combined with national support, propelled China to the forefront of the global AI race, alongside the US, the European Union and... https://www.scmp.com/business/article/3333433/china-cements-global-ai-leadership-hong-kong-builds-niche-innovation-hub?utm_source=rss_feed https://www.scmp.com/business/article/3333433/china-cements-global-ai-leadership-hong-kong-builds-niche-innovation-hub?utm_source=rss_feed Wed, 19 Nov 2025 11:15:04 +0000 Ben Jiang Ben Jiang Alibaba Group Holding founder Jack Ma on Tuesday made a low-key visit to the Hangzhou campus of Ant Group that coincided with the Chinese fintech giant’s launch of LingGuang, a next-generation multimodal artificial intelligence assistant. Ma, who had relinquished his control of the fintech company and resigned from all corporate roles at Alibaba, was seen accompanied by Ant Group chairman Eric Jing Xiandong and CEO Cyril Han Xinyi during his tour of the campus. Ant Group is an affiliate of... https://www.scmp.com/tech/big-tech/article/3333403/alibaba-founder-jack-ma-visits-ant-group-campus-fintech-giant-ramps-ai-efforts?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3333403/alibaba-founder-jack-ma-visits-ant-group-campus-fintech-giant-ramps-ai-efforts?utm_source=rss_feed Wed, 19 Nov 2025 10:00:50 +0000 Bloomberg Bloomberg The bitcoin rally that welcomed a wave of new investors through easy-to-access exchange-traded funds (ETFs) has officially gone underwater. Investors in US ETFs that offer direct access to the cryptocurrency are now sitting on collective losses. The average cost basis across all ETF inflows sits at approximately US$89,600 – a level bitcoin breached on Tuesday, according to Sean Rose at market intelligence firm Glassnode. That figure reflects the flow-weighted average price of all ETF inflows... https://www.scmp.com/tech/blockchain/article/3333243/faded-glory-bitcoin-etf-investors-red-after-cryptos-us89600-level-breaks?utm_source=rss_feed https://www.scmp.com/tech/blockchain/article/3333243/faded-glory-bitcoin-etf-investors-red-after-cryptos-us89600-level-breaks?utm_source=rss_feed Tue, 18 Nov 2025 07:38:51 +0000 Xinmei Shen Xinmei Shen Ant International, the Singapore-based spin-off of Chinese fintech giant Ant Group, is stepping up its global treasury operations through a strategic partnership with Swiss bank UBS, as both companies also seek to explore innovations in blockchain-based tokenised deposits. Under a memorandum of understanding signed at UBS’ Singapore offices, Ant International will use UBS Digital Cash – a blockchain-based payments platform launched last year – for its global treasury operations to enhance... https://www.scmp.com/tech/blockchain/article/3333085/ant-international-ubs-join-forces-blockchain-based-cross-border-payment-settlements?utm_source=rss_feed https://www.scmp.com/tech/blockchain/article/3333085/ant-international-ubs-join-forces-blockchain-based-cross-border-payment-settlements?utm_source=rss_feed Mon, 17 Nov 2025 09:00:16 +0000 Xinmei Shen Xinmei Shen The US and China are ramping up crackdowns on cryptocurrency-related cross-border crimes with a flurry of actions against the suspected ringleaders of scam networks operating in Southeast Asia. In recent years, the border areas between Thailand, Myanmar, Laos and Cambodia have become hubs for online fraud operations, in which syndicates either trick or coerce their targeted victims to invest in bogus schemes and transfer money via bitcoin, ether or stablecoins before these are processed through... https://www.scmp.com/tech/tech-trends/article/3332675/us-chinese-authorities-ramp-actions-against-transnational-syndicates-running-crypto-scams?utm_source=rss_feed https://www.scmp.com/tech/tech-trends/article/3332675/us-chinese-authorities-ramp-actions-against-transnational-syndicates-running-crypto-scams?utm_source=rss_feed Thu, 13 Nov 2025 14:00:20 +0000 Aileen Chuang Aileen Chuang Hong Kong’s de facto central bank has begun facilitating real-value transactions using tokenised deposits and digital assets under a controlled pilot programme from Thursday, reinforcing the city’s status as a fintech hub. The new phase of the Project Ensemble sandbox would enable seven commercial banks and 13 industry participants to settle tokenised transactions “faster, more transparently and efficiently”, the Hong Kong Monetary Authority (HKMA) said in a press release on Thursday. The... https://www.scmp.com/business/banking-finance/article/3332625/hong-kong-moves-theory-practice-real-value-tokenised-money-asset-deals?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3332625/hong-kong-moves-theory-practice-real-value-tokenised-money-asset-deals?utm_source=rss_feed Thu, 13 Nov 2025 10:00:58 +0000 Julie Zhang Julie Zhang Ant International has released an open sourced foundational AI model called Falcon to help customers forecast cash flow and foreign-exchange exposure, as one of the world’s largest fintech companies puts artificial intelligence front and centre in its priorities to spur growth. The Falcon TST model could help customers including airlines, online travel agents and e-commerce platforms forecast their cash flow and currency exposure hourly, daily and weekly with more than 90 per cent accuracy,... https://www.scmp.com/business/banking-finance/article/3332495/ant-rolls-out-falcon-open-source-ai-model-help-users-forecast-cash-flow-forex-exposure?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3332495/ant-rolls-out-falcon-open-source-ai-model-help-users-forecast-cash-flow-forex-exposure?utm_source=rss_feed Wed, 12 Nov 2025 11:30:09 +0000 Aileen Chuang Aileen Chuang Standard Chartered is positioning Hong Kong as the centre of its digital finance ambitions as it seeks higher returns and prepares for a blockchain-driven future, according to CEO Bill Winters. In a recent interview in Hong Kong, Winters highlighted the city’s pioneering regulatory framework, which he said fostered experimentation with blockchain technology – an innovation that could add value to the financial sector. Winters praised the Hong Kong Monetary Authority (HKMA) for its various pilot... https://www.scmp.com/business/banking-finance/article/3331949/standard-chartered-ceo-hong-kong-central-banks-digital-finance-strategy?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3331949/standard-chartered-ceo-hong-kong-central-banks-digital-finance-strategy?utm_source=rss_feed Mon, 10 Nov 2025 00:30:10 +0000 Letters Letters Feel strongly about these letters, or any other aspects of the news? Share your views by emailing us your Letter to the Editor at letters@scmp.com or filling in this Google form. Submissions should not exceed 400 words At dinner in Causeway Bay one evening, I overheard a young man sitting nearby talking excitedly about his experience investing in cryptocurrencies. It was encouraging to see such enthusiasm in a young Hongkonger, but I wonder if his engagement with emerging technologies is matched... https://www.scmp.com/opinion/letters/article/3331774/fintech-moving-fast-gen-zs-financial-literacy-must-keep-pace?utm_source=rss_feed https://www.scmp.com/opinion/letters/article/3331774/fintech-moving-fast-gen-zs-financial-literacy-must-keep-pace?utm_source=rss_feed Sun, 09 Nov 2025 03:30:11 +0000 Enoch Yiu Enoch Yiu Digital trading in Hong Kong has taken a step forward with the launch of the city’s first Luxembourg-registered tokenised money market fund by US asset manager Franklin Templeton, marking a major development under the Fintech 2030 plan unveiled this week to establish the city as a leading fintech hub. The Franklin OnChain US Government Money Fund, which invests in US government securities and was registered in Luxembourg last year, would be available to institutional and professional investors... https://www.scmp.com/business/banking-finance/article/3331632/franklin-templeton-introduces-tokenised-money-market-fund-hong-kong?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3331632/franklin-templeton-introduces-tokenised-money-market-fund-hong-kong?utm_source=rss_feed Wed, 05 Nov 2025 09:31:53 +0000 Salina Li Salina Li Reap, a Hong Kong-based fintech company that provides services through stablecoin-enabled infrastructure, has opened its 10,000 sq ft headquarters in Quarry Bay as part of its global expansion strategy. Founded in 2018 as part of Cyberport’s incubation programme, Reap chose Hong Kong as the base for its global expansion to capitalise on cross-border payment opportunities. “Few cities in the world offer this combination of deep multi-currency liquidity, regulatory clarity and global market... https://www.scmp.com/business/article/3331612/hong-kong-headquarters-anchor-fintech-firm-reaps-global-stablecoin-powered-expansion?utm_source=rss_feed https://www.scmp.com/business/article/3331612/hong-kong-headquarters-anchor-fintech-firm-reaps-global-stablecoin-powered-expansion?utm_source=rss_feed Wed, 05 Nov 2025 08:29:25 +0000 Danielle Popov Danielle Popov Uzbekistan’s first tech unicorn, Uzum, is seeking a final pre-initial public offering (IPO) funding round next year in Hong Kong, after raising a US$70 million investment from Tencent Holdings months ago. Uzum co-founder Nikolay Seleznev said on Tuesday that Tencent’s investment in August bolstered the company’s plans to go public in 2027, with a potential listing in Hong Kong, London, Abu Dhabi or Nasdaq in the US. The Tencent-led funding lifted Uzum’s valuation to US$1.5 billion, while opening... https://www.scmp.com/tech/tech-trends/article/3331527/tencent-backed-uzum-uzbekistans-first-tech-unicorn-eyes-pre-ipo-funding-hong-kong?utm_source=rss_feed https://www.scmp.com/tech/tech-trends/article/3331527/tencent-backed-uzum-uzbekistans-first-tech-unicorn-eyes-pre-ipo-funding-hong-kong?utm_source=rss_feed Wed, 05 Nov 2025 01:00:11 +0000 Xinmei Shen Xinmei Shen Hong Kong continues to ratchet up its cryptocurrency development efforts, as the city’s securities regulator fine-tunes rules to boost the liquidity of local digital-asset trading platforms. The Securities and Futures Commission (SFC) said it would allow locally licensed digital-asset exchanges to integrate their order books with those of their affiliated platforms globally. “What we noticed is that through the creation of this close-loop environment, we are creating a pocket of liquidity only... https://www.scmp.com/tech/policy/article/3331513/hong-kong-pushes-adjustments-digital-asset-rules-beijing-remains-cautious-crypto?utm_source=rss_feed https://www.scmp.com/tech/policy/article/3331513/hong-kong-pushes-adjustments-digital-asset-rules-beijing-remains-cautious-crypto?utm_source=rss_feed Tue, 04 Nov 2025 12:00:24 +0000 Brian Rhoads,Raymond Ma Brian Rhoads,Raymond Ma Chinese Vice-Premier He Lifeng said Hong Kong’s “prospects are very bright” as he highlighted support for the city’s role as a global finance hub in China’s next five-year plan. “As China embarks on this new chapter under the 15th five-year plan, Hong Kong will also usher in major new historical opportunities,” He said in a video address to the city’s Global Financial Leaders’ Investment Summit. Proposals in the five-year plan “made important arrangements to support Hong Kong’s... https://www.scmp.com/plus/article/3331474/superconnector-hong-kong-gets-boost-beijing?utm_source=rss_feed https://www.scmp.com/plus/article/3331474/superconnector-hong-kong-gets-boost-beijing?utm_source=rss_feed Tue, 04 Nov 2025 09:01:11 +0000 Aileen Chuang,Enoch Yiu Aileen Chuang,Enoch Yiu Hong Kong on Monday launched a five-year fintech strategy, pledging to advance artificial intelligence and tokenisation initiatives responsibly to strengthen the city’s position as a leading fintech hub. The Hong Kong Monetary Authority (HKMA), which unveiled the plan at the flagship Fintech Week conference, said it expected to launch more than 40 initiatives to embed AI in finance, build a financial tokenisation ecosystem, create data and payment infrastructure, and enhance sector-wide... https://www.scmp.com/business/banking-finance/article/3331294/hong-kong-unveils-fintech-strategy-future-proof-city-ai-and-tokenisation?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3331294/hong-kong-unveils-fintech-strategy-future-proof-city-ai-and-tokenisation?utm_source=rss_feed Mon, 03 Nov 2025 06:08:52 +0000 Julie Zhang,Cheryl Arcibal Julie Zhang,Cheryl Arcibal Switzerland’s MKS PAMP, one of the world’s largest refiners and traders of precious metals, has joined a growing number of European companies that are expanding operations in Hong Kong, drawn by the city’s strengthened focus on its financial services and commodity trading sectors. The Geneva-based firm – locally known for minting the centenary gold bars for Bank of China (Hong Kong) in 2017 – on Thursday opened its 3,600 sq ft regional headquarters at the St John’s Building on Garden Road in... https://www.scmp.com/business/banking-finance/article/3331186/swiss-firm-mks-pamp-aims-help-build-hong-kong-international-gold-trading-hub?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3331186/swiss-firm-mks-pamp-aims-help-build-hong-kong-international-gold-trading-hub?utm_source=rss_feed Sun, 02 Nov 2025 06:00:17 +0000 Xinmei Shen Xinmei Shen Chinese police are working with UK law enforcement authorities to track down fugitives and illicit funds involved in a massive cryptocurrency fraud and money laundering case, but experts see little likelihood for victims to recoup their losses. According to a statement, police in the northern city of Tianjin were “doing everything possible” to help more than 128,000 Chinese investors recoup funds caught in a web of fraudulent wealth schemes perpetrated between 2014 and 2017 by a syndicate, which... https://www.scmp.com/tech/blockchain/article/3331111/china-uk-police-join-forces-recover-funds-massive-crypto-fraud?utm_source=rss_feed https://www.scmp.com/tech/blockchain/article/3331111/china-uk-police-join-forces-recover-funds-massive-crypto-fraud?utm_source=rss_feed Fri, 31 Oct 2025 12:25:02 +0000 Yulu Ao Yulu Ao Deloitte China plans to hire about 1,000 people in Hong Kong and invest HK$500 million (US$64 million) over the next four years, as part of a new initiative that is expected to strengthen the city’s role as a regional talent and innovation hub. Called the “Hong Kong LEAP” strategy, the initiative is focused on expanding the company’s capabilities in fintech, capital markets operations and artificial intelligence – areas that would be key to driving the city’s next phase of economic... https://www.scmp.com/business/china-business/article/3331081/deloitte-china-hire-1000-staff-invest-us64-million-hong-kong-over-next-4-years?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3331081/deloitte-china-hire-1000-staff-invest-us64-million-hong-kong-over-next-4-years?utm_source=rss_feed Fri, 31 Oct 2025 10:30:14 +0000 Cannix Yau Cannix Yau Hong Kong’s first and only tokenised gold trading company is in talks with Beijing to obtain its endorsement for its products, which it believes can help China promote its economy to other Asian countries, the Post has learned. Newly founded Esperanza Fintech, which plans to offer gold and security tokens for live entertainment shows and other projects such as shopping centres, hotels and residential projects, was upbeat on receiving Beijing’s blessing for its operations, a source familiar with... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3330961/hong-kongs-sole-tokenised-gold-trading-firm-seeks-beijing-approval-product?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3330961/hong-kongs-sole-tokenised-gold-trading-firm-seeks-beijing-approval-product?utm_source=rss_feed Thu, 30 Oct 2025 14:58:11 +0000 Iris Deng Iris Deng Chinese artificial intelligence models DeepSeek and Qwen have surged ahead of Western rivals, including GPT, with returns exceeding 100 per cent in just nine days during an ongoing real-market cryptocurrency trading competition. DeepSeek’s Chat V3.1 model grew its initial capital of US$10,000 to US$22,500 by 4pm on Monday – a 125 per cent gain since trading began on October 18 – according to the latest update from Alpha Arena, a crypto investment project launched by US research firm Nof1. Qwen 3... https://www.scmp.com/tech/tech-trends/article/3330461/deepseek-and-qwen-ai-models-crush-western-rivals-cryptocurrency-trading-challenge?utm_source=rss_feed https://www.scmp.com/tech/tech-trends/article/3330461/deepseek-and-qwen-ai-models-crush-western-rivals-cryptocurrency-trading-challenge?utm_source=rss_feed Mon, 27 Oct 2025 09:00:24 +0000