https://www.scmp.com/rss/517908/feed en https://assets-v2.i-scmp.com/production/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Xinmei Shen Xinmei Shen A pledge by China’s central bank to investigate Solana’s recent campaigns in mainland China has extinguished hopes that a crackdown on cryptocurrencies will be eased and underscored Beijing’s unyielding hostility towards foreign public blockchains. The People’s Bank of China (PBOC) had halted recent offline events Solana planned to hold on the mainland and would launch investigations into the entities and individuals involved, the PBOC-backed Financial News reported on Friday. Citing an... https://www.scmp.com/business/cryptocurrency/article/3373747/chinese-central-banks-pledge-probe-solana-snuffs-out-hopes-crypto-crackdown-easing https://www.scmp.com/business/cryptocurrency/article/3373747/chinese-central-banks-pledge-probe-solana-snuffs-out-hopes-crypto-crackdown-easing Mon, 09 Nov 2026 06:00:34 +0000 Xinmei Shen Xinmei Shen Solana, one of the world’s largest blockchain networks, plans to expand in Hong Kong to tap the city’s growing demand for tokenisation, according to a senior executive. “I believe that the biggest opportunity for Solana is actually in [the Asia-Pacific region],” Solana Company chairman and CEO Joseph Chee said in an interview in Hong Kong earlier this week. Founded in the US in 2018, the company is behind one of the most popular cryptocurrencies. With a market capitalisation of about US$53... https://www.scmp.com/business/cryptocurrency/article/3373582/crypto-heavyweight-solana-eyes-hong-kong-expansion-tap-growing-tokenisation-demand https://www.scmp.com/business/cryptocurrency/article/3373582/crypto-heavyweight-solana-eyes-hong-kong-expansion-tap-growing-tokenisation-demand Fri, 06 Nov 2026 12:03:24 +0000 Tim Yuen Lingk Tim Yuen Lingk Industry leaders at Hong Kong’s Fintech Week are searching for solutions to crypto crime in the wake of Binance’s historic hack, with over US$3 billion in stolen assets still allegedly in the hands of North Korean hackers. “You have to be able to treat every end point and every server as a possible place that might be compromised and work on the principle that it might be compromised,” said Tim Way, global head of banking initiatives at digital asset infrastructure firm Fireblocks, during an... https://www.scmp.com/business/cryptocurrency/article/3373009/crypto-industry-confronts-stark-security-challenges-after-us64b-binance-hack https://www.scmp.com/business/cryptocurrency/article/3373009/crypto-industry-confronts-stark-security-challenges-after-us64b-binance-hack Mon, 02 Nov 2026 23:00:09 +0000 Xinmei Shen Xinmei Shen Hong Kong has touted rapid progress in the first year of its five-year fintech strategy, pledging to double down on artificial intelligence and tokenisation even as many initiatives face the challenge of achieving commercial scale. Tokenisation, for instance, had moved from the sandbox “into the real world”, said Eddie Yue Wai-man, chief executive of the Hong Kong Monetary Authority (HKMA), at the city’s annual FinTech Week conference on Monday. Hong Kong had authorised 17 tokenised public funds... https://www.scmp.com/business/banking-finance/article/3372968/how-hong-kongs-fintech-strategy-progressing-and-where-growth-still-lags https://www.scmp.com/business/banking-finance/article/3372968/how-hong-kongs-fintech-strategy-progressing-and-where-growth-still-lags Mon, 02 Nov 2026 10:00:07 +0000 Themis Qi,Xinmei Shen Themis Qi,Xinmei Shen HSBC said its RedCoin retail stablecoin has attracted 50,000 users since its official launch just over a week ago, as the city’s largest lender remains committed to exploring new technologies in the city. The figures were revealed by HSBC group CEO Georges Elhedery during a panel discussion on the first day of Hong Kong FinTech Week, which kicked off on Monday. Elhedery also attributed the quick ramp-up to the “comfortable” regulatory environment that the Hong Kong Monetary Authority (HKMA) had... https://www.scmp.com/business/banking-finance/article/3372972/hsbcs-redcoin-stablecoin-draws-50000-users-first-week-bank-deepens-local-tech-push https://www.scmp.com/business/banking-finance/article/3372972/hsbcs-redcoin-stablecoin-draws-50000-users-first-week-bank-deepens-local-tech-push Mon, 02 Nov 2026 07:59:30 +0000 Reuters Reuters Binance customers pulled US$3.64 billion, or 2.1 per cent of ⁠its assets, as the world’s biggest cryptocurrency exchange went back online on Sunday after hackers the FBI links to North Korea stole billions from the platform last week. Binance said withdrawals were stabilising after an initial spike and deposit volumes had remained “substantial”. The exchange said it had now covered 95 per cent of the US$6.3 billion of stolen assets. The theft, which analysts believe may be the biggest financial... https://www.scmp.com/business/cryptocurrency/article/3372910/binance-sees-spike-withdrawals-exchange-returns-online-after-us63-billion-hack https://www.scmp.com/business/cryptocurrency/article/3372910/binance-sees-spike-withdrawals-exchange-returns-online-after-us63-billion-hack Sun, 01 Nov 2026 19:53:28 +0000 Daisy Wu Daisy Wu Binance, the world’s largest cryptocurrency exchange by trading volume, has pledged to cover all losses from a hack that it said drained around US$6.3 billion from its wallet. At that scale, it would be the biggest crypto theft on record, surpassing the US$1.5 billion stolen from Dubai-based exchange Bybit in February 2025, a theft the FBI attributed to North Korea. Binance said in a post on X on Friday that it had suspended all deposits and withdrawals while its team conducts security checks,... https://www.scmp.com/business/cryptocurrency/article/3372664/binance-pledges-cover-losses-after-us6-billion-crypto-hack https://www.scmp.com/business/cryptocurrency/article/3372664/binance-pledges-cover-losses-after-us6-billion-crypto-hack Fri, 30 Oct 2026 03:26:14 +0000 Tim Yuen Lingk Tim Yuen Lingk After HSBC RedCoin launched on Friday, Anchorpoint – the stablecoin-issuing joint venture led by Standard Chartered – said it plans to launch a retail product on a public blockchain, even as it takes a “prudent approach”. “Our next major milestone is to [help] bring regulated digital money into everyday payments and commercial applications, while connecting traditional payment infrastructure with this emerging digital finance,” said Dominic Maffei, CEO of Anchorpoint. “This is a public... https://www.scmp.com/business/cryptocurrency/article/3372060/standard-chartered-led-anchorpoint-plans-retail-stablecoin-hsbc-redcoin-launches https://www.scmp.com/business/cryptocurrency/article/3372060/standard-chartered-led-anchorpoint-plans-retail-stablecoin-hsbc-redcoin-launches Sun, 25 Oct 2026 23:00:15 +0000 Zoe SL Chan Zoe SL Chan HSBC will launch its Hong Kong dollar-backed stablecoin in stages from Friday for more than 3.3 million users of its PayMe app, as the bank pushes to bring digital currencies into the city’s mainstream retail and investment markets. HSBC RedCoin, available only through PayMe and the bank’s Hong Kong mobile banking app, would initially support peer-to-peer transfers and peer-to-merchant payments on PayMe, according to head of PayMe Lawrence Li. Users can activate their HSBC RedCoin wallet, with... https://www.scmp.com/business/cryptocurrency/article/3371805/hsbc-redcoin-stablecoin-launches-33-million-payme-users-hong-kong https://www.scmp.com/business/cryptocurrency/article/3371805/hsbc-redcoin-stablecoin-launches-33-million-payme-users-hong-kong Thu, 22 Oct 2026 23:00:09 +0000 Hugh Harsono Hugh Harsono From October 22, China’s grace period for the disclosure and settlement of certain offshore-trust tax liabilities ends. For the Chinese government, this deadline highlights its desire to affirm control over capital outflows, while for Chinese high-net-worth families, it serves as a reminder that it is now harder to keep international assets beyond the reach of the government. The deadline sits against the backdrop of China tightening scrutiny around cryptocurrency, stablecoins and real-world... https://www.scmp.com/opinion/china-opinion/article/3371259/chinas-offshore-tax-crackdown-could-inadvertently-fuel-digital-dollar-boom https://www.scmp.com/opinion/china-opinion/article/3371259/chinas-offshore-tax-crackdown-could-inadvertently-fuel-digital-dollar-boom Wed, 21 Oct 2026 12:30:07 +0000 Xinmei Shen Xinmei Shen Bitcoin may extend its rebound but is unlikely to break above US$100,000 before the end of the year, as rising interest rates and the Iran conflict continue to weigh on crypto assets, according to analysts. The crypto asset class is likely to end the year higher than it is today, but below the peak reached last October, according to Alice Liu, head of research at crypto data platform CoinMarketCap. “The worst of this year’s downturn is behind us, but the recovery will be uneven and led almost... https://www.scmp.com/business/cryptocurrency/article/3371238/bitcoin-making-comeback-risk-more-sharp-pullbacks-real https://www.scmp.com/business/cryptocurrency/article/3371238/bitcoin-making-comeback-risk-more-sharp-pullbacks-real Sun, 18 Oct 2026 23:00:14 +0000 Xinmei Shen Xinmei Shen Solana, which operates one of the world’s largest cryptocurrencies, has cancelled a high-profile event in Shanghai at the last minute as local police appeared on site, according to social media posts, just a day after the firm touted the opening of a fancy new office in the city. Solana was slated to host its Solana Accelerate China event in Shanghai on Friday morning, part of a week-long event across major cities in mainland China. Shortly before the event kicked off, however, the company said... https://www.scmp.com/business/cryptocurrency/article/3371083/china-has-banned-crypto-business-so-why-solana-opening-splashy-shanghai-office https://www.scmp.com/business/cryptocurrency/article/3371083/china-has-banned-crypto-business-so-why-solana-opening-splashy-shanghai-office Fri, 16 Oct 2026 03:00:07 +0000 Xinmei Shen Xinmei Shen The US Senate’s rejection of the Clarity Act – a landmark bill meant to regulate cryptocurrency market structure – has opened a window for Hong Kong to accelerate its digital asset ambitions, industry insiders say, even as the sector remains mired in a slump after a brief rally last month. Beijing’s ban on crypto remains in force in mainland China, but Hong Kong has received approval to develop itself as a digital asset hub, with the stalled push in Washington presenting the city with what... https://www.scmp.com/business/cryptocurrency/article/3367694/us-crypto-bill-stumble-sparks-call-hong-kong-seize-critical-strategic-window https://www.scmp.com/business/cryptocurrency/article/3367694/us-crypto-bill-stumble-sparks-call-hong-kong-seize-critical-strategic-window Wed, 16 Sep 2026 08:00:36 +0000 Simpson Cheung Simpson Cheung English Premier League football club Chelsea’s lucrative new front-of-shirt sponsorship deal with a stablecoin issuer has left Hong Kong fans and retailers concerned about whether wearing or selling the top counts as illegal promotion under digital currency laws. Chelsea signed the deal with Circle to feature its USDC stablecoin brand on player jerseys for the 2026-27 season in late August, just three months after the UK’s Financial Conduct Authority (FCA) warned Premier League clubs about... https://www.scmp.com/news/hong-kong/law-and-crime/article/3366500/why-chelsea-football-shirts-are-making-hong-kong-fans-nervous-about-crypto-laws https://www.scmp.com/news/hong-kong/law-and-crime/article/3366500/why-chelsea-football-shirts-are-making-hong-kong-fans-nervous-about-crypto-laws Sun, 06 Sep 2026 01:00:13 +0000 Christina Zhao Christina Zhao Not so long ago, Pokemon cards were little more than schoolyard treasures in Hong Kong. But the trading cards are now evolving into a sophisticated new asset class, driven by millennial nostalgia and the forces of global capital. In today’s red-hot market – where rare Pikachus sell for vast sums and crime is a real problem – a complex trading ecosystem is emerging, complete with professional grading, tokenised funds and institutional-grade storage facilities. Pokemon card valuations have... https://www.scmp.com/business/banking-finance/article/3366398/inside-hong-kongs-red-hot-pokemon-card-market-where-pikachus-sell-stocks https://www.scmp.com/business/banking-finance/article/3366398/inside-hong-kongs-red-hot-pokemon-card-market-where-pikachus-sell-stocks Sat, 05 Sep 2026 02:00:06 +0000 Xinmei Shen Xinmei Shen Bitcoin has broken above US$80,000 for the first time in three months, riding a broader rally in alternative assets triggered by Washington’s efforts to tame US bond yields. The world’s largest cryptocurrency traded above US$80,900 on Tuesday, jumping roughly 25 per cent over the past week and signalling an early recovery from a prolonged market slump. While bitcoin remains nearly 36 per cent below its record high of US$126,000 set in October, the sharp rebound has prompted observers to predict... https://www.scmp.com/tech/blockchain/article/3365147/bitcoin-tops-us80000-first-time-may-us-moves-boost-crypto https://www.scmp.com/tech/blockchain/article/3365147/bitcoin-tops-us80000-first-time-may-us-moves-boost-crypto Tue, 25 Aug 2026 04:46:28 +0000 Sylvia Ma Sylvia Ma Barry Eichengreen is a leading American economist and one of the world’s foremost experts on international monetary systems. He is a professor of economics and political science at the University of California, Berkeley, where he has taught since 1987. He served as a senior policy adviser at the International Monetary Fund in 1997-98. Here, he discusses why today’s “de-dollarisation” talk is different from past episodes, how close the world is to a reshuffling of the international monetary... https://www.scmp.com/plus/economy/china-economy/article/3364644/top-economist-how-china-should-prep-dollar-eras-end https://www.scmp.com/plus/economy/china-economy/article/3364644/top-economist-how-china-should-prep-dollar-eras-end Thu, 20 Aug 2026 05:03:28 +0000 Themis Qi Themis Qi A Standard Chartered-led joint venture kicked off institutional use of Hong Kong dollar-backed stablecoins on Wednesday, a year after the city put its stablecoin law into effect as part of an effort to become a global hub for digital assets. Retail use of the regulated cryptocurrency was expected “as early as end-2026”, subject to market conditions, said Anchorpoint Financial, a Hong Kong-licensed stablecoin issuer, in a statement on Wednesday. A joint venture formed by Standard Chartered,... https://www.scmp.com/business/cryptocurrency/article/3363800/hong-kong-stablecoin-selection-expands-standard-chartered-led-ventures-launch https://www.scmp.com/business/cryptocurrency/article/3363800/hong-kong-stablecoin-selection-expands-standard-chartered-led-ventures-launch Wed, 12 Aug 2026 11:06:58 +0000 Christina Zhao Christina Zhao A new generation of Chinese stars is influencing how global finance operates – applying analytical power, cross-cultural agility, and resilience developed in China’s demanding environments straight to leading firms from Citadel Securities to BlackRock. That shift is easier to grasp by looking beyond the Ivy League feeder pipelines to the mathematical boot camps of Shenzhen and the lecture halls of Guangxi Zhuang Autonomous Region. The careers of these figures – Tian Zhou, Wei Li, Katherine Wu... https://www.scmp.com/business/banking-finance/article/3363347/meet-next-generation-chinese-stars-influencing-how-global-finance-operates https://www.scmp.com/business/banking-finance/article/3363347/meet-next-generation-chinese-stars-influencing-how-global-finance-operates Fri, 07 Aug 2026 22:00:11 +0000 Zoe SL Chan Zoe SL Chan With its multi-currency advantages and regulatory clarity, Hong Kong has become a critical gateway connecting stablecoins – cryptocurrencies pegged to a stable asset like the US dollar – with traditional finance. Executives said this would help businesses cut costs, lower risks and support expansion into emerging markets. The city’s unique positioning stemmed from its century-long role as a gateway for international business, said Arjun Sethi, Co-CEO of Payward, the parent company of Kraken – a... https://www.scmp.com/business/banking-finance/article/3360137/why-payward-building-its-asian-stablecoin-gateway-hong-kong https://www.scmp.com/business/banking-finance/article/3360137/why-payward-building-its-asian-stablecoin-gateway-hong-kong Fri, 10 Jul 2026 10:08:52 +0000 Reuters Reuters Almost 1,700 British ⁠investors are suing ⁠Binance and founder ⁠Zhao Changpeng for at least £150 million (US$200 million), alleging the crypto trading platform sold them risky, complex derivative products without regulatory authorisation. The claimants, some ‌of whom said they had lost tens of thousands of pounds, allege Binance entities knowingly sold investments such as leveraged products, which can amplify gains or losses, from late 2019 and promoted ⁠them in breach of the Financial Services... https://www.scmp.com/news/article/3358948/uk-investors-sue-binance-and-founder-zhao-changpeng-us200-million https://www.scmp.com/news/article/3358948/uk-investors-sue-binance-and-founder-zhao-changpeng-us200-million Tue, 30 Jun 2026 18:06:50 +0000 Peggy Ye Peggy Ye Hong Kong’s de facto central bank has formed a group of industry experts to help remove legal and regulatory hurdles to tokenized bonds, as authorities seek to move beyond pilot projects and encourage wider adoption from private issuers. The Hong Kong Monetary Authority (HKMA) said on Friday it had established a Tokenised Bond Expert Group comprising 21 institutions spanning banks, law firms, market infrastructure providers and digital asset companies to support the development of the city’s... https://www.scmp.com/business/cryptocurrency/article/3356125/hong-kong-taps-banks-lawyers-and-crypto-firms-help-rewrite-rules-tokenised-bonds https://www.scmp.com/business/cryptocurrency/article/3356125/hong-kong-taps-banks-lawyers-and-crypto-firms-help-rewrite-rules-tokenised-bonds Fri, 05 Jun 2026 10:45:05 +0000 Sylvia Ma Sylvia Ma Daniel Gros is the director of the Institute for European Policymaking at Bocconi University. Previously, he served as an adviser to the European Parliament, collaborated with the European Commission as economic adviser to the Delors Committee, which developed plans for the euro, and worked at the International Monetary Fund. In this interview, Gros examines the structural tensions shaping EU-China economic ties, draws lessons from the euro’s experience to analyse the yuan’s... https://www.scmp.com/plus/economy/china-economy/article/3351083/euro-yuan-unlikely-match-us-dollar-global-currencies-daniel-gros-says https://www.scmp.com/plus/economy/china-economy/article/3351083/euro-yuan-unlikely-match-us-dollar-global-currencies-daniel-gros-says Thu, 23 Apr 2026 04:30:08 +0000 Enoch Yiu Enoch Yiu For Hong Kong’s 3.3 million PayMe users, everyday transactions such as buying coffee or splitting bills with friends could soon involve stablecoins, with HSBC preparing to introduce the digital currency in the second half of this year. That comes after HSBC Holdings, together with a Standard Chartered-led joint venture, became the first to obtain a stablecoin issuer licence from the Hong Kong Monetary Authority on Friday, marking a breakthrough in the city’s digital finance development. HSBC,... https://www.scmp.com/business/banking-finance/article/3350089/how-paymes-33-million-users-and-hong-kong-firms-could-start-using-stablecoins https://www.scmp.com/business/banking-finance/article/3350089/how-paymes-33-million-users-and-hong-kong-firms-could-start-using-stablecoins Wed, 15 Apr 2026 00:00:37 +0000 Daniel Ren,Enoch Yiu Daniel Ren,Enoch Yiu The Hong Kong Monetary Authority (HKMA) is being urged to go further in loosening restrictions on stablecoins, after granting the city’s first two licences to banks to issue the digital currency. Bankers, venture capitalists and analysts said the long-awaited approvals – awarded to HSBC and a joint venture led by Standard Chartered – fell short of market expectations, underscoring the regulator’s cautious stance amid lingering risk concerns. “It came as a surprise that only two licences were... https://www.scmp.com/business/banking-finance/article/3349742/hong-kong-regulator-urged-expand-stablecoin-rules-after-cautious-roll-out https://www.scmp.com/business/banking-finance/article/3349742/hong-kong-regulator-urged-expand-stablecoin-rules-after-cautious-roll-out Sat, 11 Apr 2026 09:10:21 +0000 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 https://www.scmp.com/business/cryptocurrency/article/3349644/hong-kong-awards-stablecoin-licences-hsbc-stanchart-led-group-long-awaited-roll-out Fri, 10 Apr 2026 09:09:55 +0000 Julie Zhang,Enoch Yiu Julie Zhang,Enoch Yiu Hong Kong’s highly anticipated first batch of stablecoin licences did not materialise as expected by the end of March. Industry players said the delay may be caused by a slower-than-expected review process, adding that it could also be due to the regulators’ cautious stance towards launching the first batch of regulated stablecoin licences as the city seeks to cement its status as a digital-asset hub. “I don’t think [the delay] is caused by the market,” said Jack Poon, a member of the task force... https://www.scmp.com/business/banking-finance/article/3348492/hong-kongs-anticipated-stablecoin-licence-end-march-does-not-materialise https://www.scmp.com/business/banking-finance/article/3348492/hong-kongs-anticipated-stablecoin-licence-end-march-does-not-materialise Wed, 01 Apr 2026 00:30:08 +0000 Eunice Xu Eunice Xu In late 2022, Syed Musheer Ahmed packed his bags and departed Hong Kong. The founder of fintech advisory firm FinStep Asia headed for Dubai, where he joined the founding team of the Gulf city’s new digital-asset regulator, Virtual Assets Regulatory Authority (VARA). Like many in Hong Kong’s crypto scene at the time, Ahmed was drawn by the Middle East’s regulatory clarity – a stark contrast to the uncertainty and Covid-19 restrictions still lingering in his adopted home. “Dubai came up as a good... https://www.scmp.com/tech/blockchain/article/3347286/will-hong-kongs-regulatory-clarity-crypto-forge-path-global-hub-status https://www.scmp.com/tech/blockchain/article/3347286/will-hong-kongs-regulatory-clarity-crypto-forge-path-global-hub-status Sat, 21 Mar 2026 04:00:08 +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 https://www.scmp.com/business/cryptocurrency/article/3346311/hong-kong-poised-grant-first-stablecoin-licences-hsbc-standard-chartered-sources Thu, 12 Mar 2026 09:00:08 +0000 Enoch Yiu Enoch Yiu HSBC, the largest lender in Europe and Hong Kong by assets, has signalled for the first time its intent to engage with the city’s forthcoming stablecoin regime, citing Hong Kong’s sound regulatory environment and its potential to drive innovation in the digital asset space. “We are interested in every part of Hong Kong’s innovation landscape, and we want to play a role in all of it,” CEO Georges Elhedery said in a small-group interview – in response to a question whether the bank had applied for... https://www.scmp.com/business/banking-finance/article/3345047/hsbc-signals-intent-join-hong-kongs-stablecoin-regime-amid-digital-innovation-push https://www.scmp.com/business/banking-finance/article/3345047/hsbc-signals-intent-join-hong-kongs-stablecoin-regime-amid-digital-innovation-push Sun, 01 Mar 2026 23:30:13 +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 https://www.scmp.com/news/hong-kong/article/3344634/hong-kong-seeks-hone-edge-offshore-yuan-hub-digital-asset-front-runner 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 https://www.scmp.com/business/banking-finance/article/3344127/hong-kong-uae-solidify-financial-links-deeper-regulatory-ties-digital-assets-focus Sun, 22 Feb 2026 03:00:12 +0000 Bloomberg Bloomberg Bitcoin extended a four-week slide as investors returned to a more cautious macro backdrop. The token dropped as much as 3.2 per cent to US$66,604 on Tuesday, before paring the decline. Bitcoin, which has traded like a high-beta tech proxy in recent months, mirrored an earlier move lower in US equities, but failed to keep pace when stocks edged higher. “Sentiment is clearly bleak in crypto markets,” said Noelle Acheson, author of the Crypto is Macro Now newsletter. “There is strong progress in... https://www.scmp.com/tech/blockchain/article/3343879/sentiment-bleak-bitcoin-declines-geopolitical-tensions-add-risk-mood https://www.scmp.com/tech/blockchain/article/3343879/sentiment-bleak-bitcoin-declines-geopolitical-tensions-add-risk-mood Wed, 18 Feb 2026 06:06:08 +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 https://www.scmp.com/business/cryptocurrency/article/3343695/what-tokenised-gold-and-why-are-financial-institutions-and-investors-looking-it Tue, 17 Feb 2026 02:00:17 +0000 Iris Deng Iris Deng As the cryptocurrency market faces mounting pressure, Standard Chartered on Thursday cut its forecast for bitcoin, flagging a further drop to US$50,000 before the world’s largest cryptocurrency stabilises. The digital currency was trading at around US$66,300 at 1pm Hong Kong time on Friday, a decline of nearly 50 per cent from a historical high of US$126,000 in October. Ether slid slightly to US$1,940 at 1pm on Friday. The world’s second-largest digital token has lost 60 per cent of its value... https://www.scmp.com/tech/article/3343504/standard-chartered-expects-bitcoin-slump-us50000-mounting-comeback https://www.scmp.com/tech/article/3343504/standard-chartered-expects-bitcoin-slump-us50000-mounting-comeback Fri, 13 Feb 2026 10:27:45 +0000 Eunice Xu Eunice Xu In a makeshift boxing ring, two humanoids square off; one in blue headgear and gloves, the other in matching red. The spectacle might be run-of-the-mill for a robotics conference, but this was Consensus Hong Kong 2026, one of the largest events for the digital assets industry. Behind the human-controlled fighting humanoids was BitRobot, an embodied AI research network built on the Solana blockchain. Despite the bitcoin drawdown of recent weeks, the mood was upbeat. Consensus this year... https://www.scmp.com/tech/tech-trends/article/3343349/policy-products-web3-innovation-takes-centre-stage-consensus-hong-kong https://www.scmp.com/tech/tech-trends/article/3343349/policy-products-web3-innovation-takes-centre-stage-consensus-hong-kong Thu, 12 Feb 2026 13:00:14 +0000 Yeon Woo Lee Yeon Woo Lee Hong Kong’s securities regulator unveiled several new initiatives on Wednesday aimed at further developing the city’s virtual asset sector while strengthening investor safeguards. The announcements by the Securities and Futures Commission (SFC) coincided with Consensus 2026, a major cryptocurrency conference running this week at the Hong Kong Convention and Exhibition Centre, attended by industry figures such as Binance CEO Richard Teng and Solana Foundation president Lily Liu. “[At Consensus... https://www.scmp.com/business/banking-finance/article/3343189/hong-kong-bridges-traditional-and-digital-finance-worlds-new-virtual-asset-initiatives https://www.scmp.com/business/banking-finance/article/3343189/hong-kong-bridges-traditional-and-digital-finance-worlds-new-virtual-asset-initiatives Wed, 11 Feb 2026 09:30:20 +0000 Xiaofei Xu Xiaofei Xu Chinese authorities issued a notice on Friday that tightened regulations on virtual currency trading, expanding Beijing’s crackdown on cryptocurrencies to the tokenisation of real world assets (RWA). Onshore RWA tokenisation activities and related intermediary or technology services for securities issuance, financial operations or fundraising were banned, according to the notice, which added that exceptions may apply in specific cases if approved by authorities. “Overseas entities and... https://www.scmp.com/business/cryptocurrency/article/3342751/china-tightens-crypto-crackdown-onshore-rwa-tokenisation-ban https://www.scmp.com/business/cryptocurrency/article/3342751/china-tightens-crypto-crackdown-onshore-rwa-tokenisation-ban Sat, 07 Feb 2026 06:20:40 +0000 Reuters Reuters Bitcoin plunged on Thursday, its decline accelerating amid weakening risk sentiment driven in part by volatility in precious ‍metals and a broad sell-off in tech shares. The world’s largest cryptocurrency fell to a low of US$66,675.12, its weakest since October 2024, a month before Republican Donald Trump won the US presidential election, having signalled his intention to support cryptocurrency on the campaign trail. It was last down 6.5 per cent at US$67,817. In total, the global digital market... https://www.scmp.com/news/world/united-states-canada/article/3342555/bitcoin-dips-below-us70000-wiping-out-gains-trump-election-win-amid-warsh-fed-fears https://www.scmp.com/news/world/united-states-canada/article/3342555/bitcoin-dips-below-us70000-wiping-out-gains-trump-election-win-amid-warsh-fed-fears Thu, 05 Feb 2026 13:32:17 +0000 Eunice Xu Eunice Xu Hong Kong’s cryptocurrency investors remain cautiously optimistic despite a sharp market sell-off over the weekend that pushed major digital assets to months-long lows. Bitcoin slid to US$74,541 on Monday morning, its lowest level in 10 months, extending a decline of about 40 per cent from its record high above US$126,000. That peak had been fuelled in part by expectations of a more crypto-friendly stance from the Trump administration. Other major tokens also weakened, with Ethereum down more... https://www.scmp.com/business/article/3342126/hong-kong-crypto-investors-stay-cautious-upbeat-bitcoin-sell-deepens https://www.scmp.com/business/article/3342126/hong-kong-crypto-investors-stay-cautious-upbeat-bitcoin-sell-deepens Mon, 02 Feb 2026 13:30:17 +0000 Matteo Giovannini Matteo Giovannini As China prepares its digital yuan for wider domestic and cross-border use, the global debate has turned again to a familiar question: is Beijing trying to challenge the US dollar’s dominance? But this misses the more consequential point. The significance of China’s digital currency push lies not in substitution, but in the transformation of the infrastructure that underpins international payments. Over the past few years, the e-CNY has evolved into one of the world’s most advanced central bank... https://www.scmp.com/opinion/china-opinion/article/3341064/talk-digital-yuan-challenging-dollar-dominance-misses-real-power-shift https://www.scmp.com/opinion/china-opinion/article/3341064/talk-digital-yuan-challenging-dollar-dominance-misses-real-power-shift Sun, 25 Jan 2026 21:30:08 +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 https://www.scmp.com/business/cryptocurrency/article/3338656/digital-finance-2026-what-expect-pilot-schemes-move-real-world-use Sun, 04 Jan 2026 23:30:15 +0000 Xinmei Shen Xinmei Shen Trip.com has started to allow some overseas users to pay for prepaid hotel and flight bookings with the stablecoins USDT and USDC – also known as Tether and USD Coin – in a sign of growing acceptance of the US dollar-pegged tokens. The online travel group enabled stablecoin payments on October 9, according to a customer service agent, with the option appearing for users in certain regions when they booked prepaid deals through Trip.com’s international platform. The move – which comes even as... https://www.scmp.com/news/china-future-tech/article/3338060/tripcom-tests-stablecoin-payments-overseas-offering-usdt-and-usdc-prepaid-bookings https://www.scmp.com/news/china-future-tech/article/3338060/tripcom-tests-stablecoin-payments-overseas-offering-usdt-and-usdc-prepaid-bookings Mon, 29 Dec 2025 23:00:09 +0000 Jean Tirole Jean Tirole The fascination with cryptocurrencies shows no sign of fading. With the passage of the Guiding and Establishing National Innovation for US Stablecoins (Genius) Act in July, US lawmakers added to the sense that crypto is here to stay. But an uncomfortable issue remains unresolved: are cryptocurrencies a genuine innovation capable of serving the common good, or a speculative threat to financial and social stability? Not all cryptocurrencies are alike. Unbacked ones, such as bitcoin or Ethereum,... https://www.scmp.com/opinion/world-opinion/article/3337375/harness-crypto-ingenuity-financial-threat-must-first-be-neutralised https://www.scmp.com/opinion/world-opinion/article/3337375/harness-crypto-ingenuity-financial-threat-must-first-be-neutralised Fri, 26 Dec 2025 12:30:08 +0000 Xinmei Shen Xinmei Shen Hong Kong will broaden its crypto rule book next year, with regulators preparing new licensing regimes for virtual asset dealers and custodians, as the city pushes to deepen its digital asset market even as Beijing tightens its scrutiny on crypto activities on the mainland. Regulators said on Wednesday they would finalise legislative proposals for two new licensing frameworks – one for providers of virtual asset dealing services, previously referred to as over-the-counter (OTC) trading services,... https://www.scmp.com/tech/article/3337703/hong-kong-broaden-crypto-rules-new-licences-dealers-and-custodians https://www.scmp.com/tech/article/3337703/hong-kong-broaden-crypto-rules-new-licences-dealers-and-custodians Thu, 25 Dec 2025 10:00:16 +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 https://www.scmp.com/business/banking-finance/article/3336692/hashkeys-lukewarm-debut-tests-hong-kongs-ambitions-digital-asset-hub Wed, 17 Dec 2025 01:41:22 +0000 Enoch Yiu Enoch Yiu Hong Kong will need to attract global champion firms across different sectors to raise funds to strengthen the city’s role as an international financial centre over the next 10 years, according to a concept paper issued by the Financial Services Development Council (FSDC) on Friday. “Global markets do not stand still,” said Benjamin Hung Pi-cheng, chairman of the FSDC, at a media briefing where the council outlined a wide range of ideas to bring the city’s capital market to the next level. “Hong... https://www.scmp.com/business/banking-finance/article/3336228/hong-kong-needs-attract-global-champions-broaden-fundraising-base-fsdc https://www.scmp.com/business/banking-finance/article/3336228/hong-kong-needs-attract-global-champions-broaden-fundraising-base-fsdc Fri, 12 Dec 2025 09:30:12 +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 https://www.scmp.com/tech/blockchain/article/3336083/coins-sand-how-uae-draws-global-crypto-community Fri, 12 Dec 2025 01:00:25 +0000 Aileen Chuang Aileen Chuang Ant International, HSBC and Swift have successfully tested cross-border transfers of tokenised deposits using an international financial messaging standard, in a move that could streamline global blockchain-based payments and corporate treasury management. The milestone, announced on Thursday, marked the first case leveraging the Swift network and ISO 20022 as a messaging standard in cross-border payments using tokenised deposits. The standard is a universal language for exchanging electronic... https://www.scmp.com/business/banking-finance/article/3336068/swift-pilots-blockchain-payments-ant-international-and-hsbc-cross-border-test https://www.scmp.com/business/banking-finance/article/3336068/swift-pilots-blockchain-payments-ant-international-and-hsbc-cross-border-test Thu, 11 Dec 2025 10:00:22 +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 https://www.scmp.com/tech/blockchain/article/3336042/bitcoin-drops-below-us90000-ai-worries-sour-risk-appetite Thu, 11 Dec 2025 08:03:27 +0000