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Fintech

Fintech
Stories about how technology is used to enhance financial services, covering banking and securities
Ant International is one of the largest tech firms yet to announce its intention to issue a stablecoin in Hong Kong. Photo: Ant International
Ant Group

Ant International and Ant Digital to seek stablecoin licences in Hong Kong

The two Ant units’ move aligns with its global ambitions as other companies, including rival JD.com, line up to issue fiat-backed cryptocurrencies.

Hong Kong economy

Opinion | With stablecoin law, Hong Kong is reasserting its financial supremacy

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Start-ups

Fintech start-up Syfe bolsters Hong Kong expansion after new funding round

Ant Group

Ant International pursues ‘holy grail’ for fintech with agentic AI platform

New agentic AI platform aims to empower fintech companies to build AI-centric financial services with improved security and efficiency.

Ant International signage seen at one of its offices. Photo: Handout
Banking & finance

Ant International: numerical AI is the GPT of financial services

Singapore-based company says model accurately predicts trading volumes and reduces unnecessary hedging and risk-premium costs.

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Hong Kong economy

Opinion | How Hong Kong can reassert its global edge in an uncertain world

The city’s vibrancy, uniqueness, connectivity and agility make it all the more relevant in a fast-evolving global economy.

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Banking & finance

China equips Hong Kong with ‘toolbox’ to propel yuan amid de-dollarisation

Doubts about the dollar’s supremacy present a unique opportunity to accelerate the yuan’s internationalisation.

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Illustration: Henry Wong
Banking & finance

HSBC launches Hong Kong’s first blockchain-based settlement service with Ant

The service aims to enhance payments with tokenised deposits for swift transactions.

Hong Kong economy

Opinion | Cryptocurrencies are emerging as ‘digital gold’ in a shaky world economy

Demand is growing for borderless, neutral financial tools in a fragmenting world economy, with rising tariffs and alliances under strain.

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Ant Group

Ant Group’s global unit pulls in US$3 billion in revenue ahead of spin-off

Ant International could fetch an IPO valuation of between US$8 billion to US$24 billion if it lists in Hong Kong, analysts say.

The Ant Group logo seen inside the fintech company’s headquarters in Hangzhou, capital of eastern Zhejiang province. Photo: Reuters
Digital currencies

Trump’s crypto ‘reset’ cheered by industry calling for more regulatory clarity

US crypto investors contributed millions of dollars to Trump’s election victory and did not conceal lingering contempt for Biden at Consensus.

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Donald Trump, who was then Republican presidential candidate, gestures at the Bitcoin 2024 event in Nashville, Tennessee, on July 27, 2024. Photo: Reuters
Ant Group

Alipay and WeChat Pay see booming inbound spending in China for Labour Day

Preliminary data from the country’s two dominant mobile payment apps show two-to-three times the spending from a year ago, much of it from Hong Kong.

Banking & finance

Hong Kong’s digital banks seek post-Covid growth in wealth management

Hong Kong’s digital banks plan to expand wealth management businesses as deposits and loans surge.

Artificial intelligence

Geely-owned DreamSmart to push mobile payments via AI smart glasses

DreamSmart is working with Ant International to enable mobile payments for users of its StarV Air2 eyewear.

DreamSmart Group’s AI-powered StarV Air2 eyewear will offer mobile payments functionality from the third quarter this year. Photo: SCMP
Hong Kong Monetary Authority (HKMA)

HKMA to help banks assess firms for trade financing by using cargo data

HKMA launches CargoX, leveraging cargo data to enhance trade financing for SMEs amid global tariff concerns.

An aerial view of the Kwai Chung Container Terminals. Photo: Eugene Lee
Digital currencies

Hong Kong ranks as second-most crypto-friendly city in the world in new index

The city is just behind Ljubljana, capital of Slovenia, in an evaluation based on factors such as regulation, taxes and wealth.

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Hong Kong science and tech

Hong Kong, Zhejiang to boost links in 13 key areas including AI, smart cities

City leader John Lee also calls on entrepreneurs of Ningbo descent to invest in border innovation hub.

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Mobile payments

Digital wallets are finally taking hold in Hong Kong, report shows

A survey found that 42 per cent of Hongkongers use Alipay and 22 per cent use Apple Pay, but credit cards are likely to remain relevant.

Passengers pay for the Star Ferry from Tsim Sha Tsui to Central next to an advertisement for Alipay on December 19, 2024. Photo: Jelly Tse
Banking & finance

HKIC backs fintech unicorn WeLab to bring Hong Kong start-ups to Southeast Asia

The Hong Kong government’s investment arm has acquired an unspecified stake in the Li Ka-shing-backed consumer finance company.

Hong Kong economy

Editorial | HKEX must press ahead with board-lot reform

Lifting restrictions would boost liquidity, encourage turnover and give smaller retail investors greater choice.

Banking & finance

Hong Kong’s finance sector embraces GenAI, with adoption to reach 90% in 5 years

GenAI applications have the potential to lead to a more curated customer experience, Academy of Finance CEO Enoch Fung says.

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Enoch Fung (left), CEO of the Hong Kong Academy of Finance and executive director of Hong Kong Institute for Monetary and Financial Research (HKIMR), and Giorgio Valente, head of HKIMR, release a report titled “Financial Services in the Era of Generative AI: Facilitating Responsible Adoption” on Wednesday. Photo: Handout
Ant Group

Ant Group’s tech unit picks Hong Kong for global headquarters amid AI, Web3 push

Ant Digital Technologies said it was choosing the city to reaffirm its commitment to AI and blockchain technologies, a recent focus for Hong Kong.

Ant Group’s technology unit is establishing a global headquarters in Hong Kong as it focuses on ramping up efforts in AI and Web3. Photo: AP
Cryptocurrency

Bitcoin, ether rout extends as tariff war pain batters cryptocurrency assets

Cryptocurrency investors appear to be in full ‘sell mode’, according BTC Markets analyst Charlie Sherry.

Banking & finance

Hong Kong online broker Futu launches DeepSeek-powered tools

Firm joins around 20 Chinese brokers and fund managers, including Sinolink Securities and CICC Wealth Management, in embracing DeepSeek.

Blockchain

Hong Kong lawmaker calls for support of Web3 sector as Tron founder flags fraud

The call comes after cryptocurrency mogul Justin Sun denounced alleged ‘loopholes’ in Hong Kong’s trust regulations.

Justin Sun, founder of the Tron blockchain, speaks at a press conference on Thursday in Tsim Sha Tsui, where he accused First Digital Trust of misappropriating funds of a stablecoin operator he has links to. Photo: Edmond So
Artificial intelligence

Hong Kong crypto firm HashKey jumps on AI bandwagon, joining Web3 players

HashKey’s first AI product is designed for content moderation, but it envisions a future of AI agents trading on blockchain on behalf of users.

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Hong Kong-based cryptocurrency exchange operator HashKey is joining the artificial intelligence race with a product designed for content moderation. Photo: Shutterstock
Cryptocurrency

Bitcoin, other cryptocurrencies succumb to risk-asset slump amid Trump tariffs

For bitcoin, which fell as much as 4 per cent to about US$82,000 on Thursday, US$80,000 is a ‘must-hold’ level, cryptocurrency analysts say.

Cryptocurrency

US cryptocurrency exchange Coinbase sees worst quarter since FTX collapse

Nearly every major firm linked to cryptocurrencies were hammered this quarter, as concerns about the US economy weighed on digital assets.

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