fintech Tag

09 Apr HSBC summit: digital assets market at ‘tidal point’, Hong Kong best placed to drive it forward, bank’s global strategy head says

Posted at 11:12h in Asia

The market for digital assets is poised to take off this year and Hong Kong is best placed to develop it further after putting in place substantial regulatory frameworks and scoring key transactions, according to HSBC.“The market really is at its tidal point,” said John...

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09 Apr Hong Kong taxis to join modern world as digital payment platform wins approval from Transport Department

Posted at 06:30h in Asia

Hong Kong fintech company Wonder has won approval from the city’s Transport Department for its effort to bring digital payments to Hong Kong’s 18,000-odd taxis, the vast majority of which only take cash.Taxi Pay x Wonder, or Taxi Pay for short, is the first payment...

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21 Mar Hong Kong SMEs eager to adopt AI, robotics and other technologies despite costs and skills gap: HSBC survey

Posted at 05:00h in Asia

“Small businesses want technology that will make them more efficient, that requires the lowest resources but delivers maximum impact,” said Ronson Chau, the head of growth at digital payments start-up Wonder, who cited productivity-focused tasks, like automating processes and drawing insights from data, as common...

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19 Mar HSBC, Hong Kong’s science park sign 3-year partnership to drive fintech development

Posted at 09:15h in Asia

The two entities signed a three-year agreement on Monday to leverage their resources, expertise and networks to foster collaboration. The partnership is the first “public-private cooperation between the city’s largest innovation and technology ecosystem and leading global bank”, the companies said on Tuesday.“Bank-fintech partnerships unlock...

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15 Mar What is wCBDC and why is it important for Hong Kong?

Posted at 01:30h in Asia

The HKMA will also develop common standards by forming an “architecture community”, which has already attracted interest from some of the largest banks and technology companies, such as HSBC, Standard Chartered, Bank of China (Hong Kong), Ant Group, Microsoft and Hashkey Group.Here are some of...

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14 Mar Hong Kong’s digital currency: HKMA launches phase 2 of e-HKD pilot programme, delving deeper into potential uses

Posted at 12:30h in Asia

“Building on the success and experience of phase 1, the next phase will delve deeper [to explore] where an e-HKD could add unique value, namely programmability, tokenisation and atomic settlement,” the HKMA said in a press release on Thursday. Atomic settlement refers to instant payments.In...

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07 Mar Exclusive | Hong Kong’s ‘cutting-edge’ central bank digital currency pilot burnishes blockchain credentials, boosts international financial hub status, HKMA’s Yue says

Posted at 21:00h in Asia

Central banks around the world have been pivoting towards innovating future types of money on digital networks, aligning with the “unified ledger” vision that the Bank for International Settlements (BIS) outlined last June.A unified ledger combines central bank and commercial bank money with other assets...

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25 Jan Hong Kong to launch subsidy scheme for green fintech start-ups to bolster sustainability data acumen, official says

Posted at 11:30h in Asia

The Hong Kong government will soon launch a subsidy scheme for start-ups with expertise in the collection, analysis and reporting of sustainability data as part of an effort to connect the city’s financial acumen with a growing fintech field and support the climate transition, according...

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24 Jan Hong Kong finance sector on pace in AI deployment, with data availability, security and skills gap among concerns: survey

Posted at 10:00h in Asia

Data availability and cybersecurity represent major challenges to the use of artificial intelligence (AI) in financial services, according to more than 60 per cent of Hong Kong financial professionals in a joint survey by PwC and the Hong Kong Trade Development Council.Hong Kong’s current pace...

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21 Jan Goldman Sachs doubles loan facility to Hong Kong fintech start-up FundPark to US$500 million

Posted at 22:30h in Asia

FundPark, a Hong Kong-based fintech start-up that provides trade finance for small and medium enterprises (SMEs), has secured US$500 million from Goldman Sachs, the second funding facility from the US investment bank in two years.Goldman recently doubled the asset-backed securitisation facility to up to US$500...

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