Hong Kong unveils new stablecoin licensing regime
The Hong Kong FSTB and HKMA outline plans for a new regulatory framework for stablecoin issuers following broad public support and stakeholder feedback. Go to Source
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China Expands Digital Yuan Pilot: Hong Kong Residents Can Now Set up E-CNY Wallets Locally
The Hong Kong Monetary Authority (HKMA) and the People’s Bank of China (PBOC) have advanced the digital yuan (e-CNY) pilot for payments, aiming to increase e-CNY wallet usage in Hong Kong. Residents can now set up and top up wallets via the Faster Payment System (FPS), marking the first global linkage of a faster payment … Read more
Hong Kong central bank forms community to explore assets tokenization
Regulators like HKMA and SFC united with local private sector firms like HSBC and HashKey to support the market of tokenization in Hong Kong. Go to Source
Hong Kong’s ZA Bank to Offer Custody Accounts for Stablecoin Issuers
ZA Bank, a virtual bank in Hong Kong, will offer cash custody accounts for institutions that want to issue stablecoins. The organization is in talks with several parties seeking to issue their stablecoins, and this service would be available for them after receiving a license from the Hong Kong Monetary Authority (HKMA). ZA Bank to … Read more
Hong Kong Launches Second Phase of Its CBDC Pilot Program
The Hong Kong Monetary Authority announced the launch of the second phase of the pilot of its CBDC, the digital Hong Kong dollar (e-HKD). This new phase will focus on furthering the research on already examined use cases for the currency, including programmability and tokenization, and adding new, not previously explored use cases. Hong Kong … Read more
Hong Kong Launches Project Ensemble, a Wholesale CBDC and Tokenized Deposits Initiative
The government of Hong Kong has announced Project Ensemble, an initiative that will test the functionality of a wholesale central bank digital currency (WCBDC) and the movement of tokenized deposits. If there is “sufficient interest” in the project, the Hong Kong Monetary Authority (HKMA) will conduct a live issuance of the WCBDC in the future. … Read more
JPEX scandal won’t hurt Hong Kong crypto vision: Financial Secretary
Christopher Hui took the stage at Fintech Week and outlined a list of regulatory moves Hong Kong authorities are looking to implement following the JPEX scandal. Go to Source
Hong Kong and UAE central banks collab on crypto rules, fintech development
The two central banks are aiming to align their financial service sectors and said both share “many complementary strengths.” Go to Source Powered by WPeMatico
Hong Kong Presents Digital Currency Prototype, Project Aurum
Financial authorities in Hong Kong have unveiled a prototype of the Chinese autonomous territory’s own central bank digital currency called Project Aurum. The two-tier platform features a wholesale interbank and a retail e-wallet system, participants revealed. Hong Kong to Issue Retail Tokens and Stablecoins as Part of Project Aurum A collaboration between the BIS Innovation … Read more
Hong Kong Protects Local Currency in Forex Market Amid Capital Flight to US Dollar
Following the Bank of England explaining that it would be meddling in U.K. bond markets and the Bank of Japan defending the yen in the foreign exchange market last week, the Hong Kong Monetary Authority (HKMA) revealed it intervened in forex markets on Wednesday. Hong Kong’s central bank detailed that it interfered in forex markets … Read more
