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Trip.com’s stablecoin move comes despite Beijing’s hard line on crypto-related activity. Photo: Shutterstock
Cryptocurrency

Trip.com tests stablecoin, offering USDT and USDC for prepaid bookings

The travel platform switched on stablecoin checkout in select markets, a cautious offshore pilot as Beijing keeps crypto crackdown in place.

Hong Kong economy

Hong Kong to broaden crypto rules with new licences for dealers and custodians

IPO

HashKey shares debut flat in Hong Kong amid bitcoin bear market

Banking & finance

Hong Kong needs to attract global champions to broaden fundraising base: FSDC

Think tank urges the expansion of connect schemes to cover a wider range of asset classes and the promotion of digital asset trading.

“Hong Kong has every opportunity to shape, innovate and lead,” according to the FSDC. Photo: Sam Tsang
“Hong Kong has every opportunity to shape, innovate and lead,” according to the FSDC. Photo: Sam Tsang
Blockchain

Coins in sand: how the UAE draws in the global crypto community

At Abu Dhabi Finance Week, insiders give credit to the UAE’s regulatory infrastructure and institutional adoption of digital assets.

Banking & finance

Swift tests blockchain with Ant International and HSBC in cross-border trial

By using the ISO 20022 messaging standard, the partners say they can make tokenised deposits interoperable with legacy systems.

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Cryptocurrency

Bitcoin drops below US$90,000 as AI worries sour risk appetite

The fall signals renewed market jitters after the historic crypto crash in October.

Standard Chartered slashes expectations that bitcoin would hit US$200,000 by the end of 2025, lowering its forecast to US$100,000. Photo: Shutterstock
Standard Chartered slashes expectations that bitcoin would hit US$200,000 by the end of 2025, lowering its forecast to US$100,000. Photo: Shutterstock
Banking & finance

Hong Kong eyes info sharing on crypto assets to combat tax fraud, evasion

Compliance with OECD framework is of ‘paramount importance’ to maintain Hong Kong’s reputation as a finance hub, secretary says.

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Hong Kong Monetary Authority (HKMA)

Hong Kong financial hub gets gold star for governance, red flag on readiness

Hong Kong has been ranked the world’s No 4 financial hub in a new NYU Abu Dhabi index, but trails rivals on growth and innovation.

IPO

HashKey aims for US$214 million in Hong Kong IPO amid Beijing’s crypto pressure

Retail investors oversubscribe crypto exchange operator’s offering despite China central bank’s tough stance on virtual assets.

HashKey’s listing date is December 17. Photo: Getty
Hong Kong

Crypto exchange Gate weighs Hong Kong licence return amid high compliance costs

Hong Kong’s policies pose some difficulties and covering the cost of operating locally is difficult, founder and CEO Lin Han says.

Lin Han, founder and CEO of cryptocurrency exchange Gate. Photo: Handout
Lin Han, founder and CEO of cryptocurrency exchange Gate. Photo: Handout
Blockchain

Crypto giant Binance appoints co-founder He Yi as co-CEO

He, who has children together with founder Zhao Changpeng, will share the title with Richard Teng.

China digital currency

Beijing’s crypto warning casts shadow over Hong Kong’s stablecoin ambitions

Hong Kong’s pioneering stablecoin rules have attracted 30 applicants – will Beijing’s latest warning force the city to rethink its ambitions?

IPO

Hong Kong crypto exchange HashKey wins listing nod in test of investor appetite

HashKey could raise around US$300 million this month amid Hong Kong’s push to develop its digital asset sector.

HashKey is one of 11 licensed virtual asset trading platforms in Hong Kong. Photo: Handout
Fintech

Does tokenisation in China risk a repeat of the P2P lending crisis?

Tokenisation provides value, but the interest of multilevel marketers raises ‘genuine concerns’, forum speaker says.

Traffic crawls on an elevated highway as buildings are reflected on a glass surface in Beijing’s central business district on November 12, 2025. Photo: Reuters
Traffic crawls on an elevated highway as buildings are reflected on a glass surface in Beijing’s central business district on November 12, 2025. Photo: Reuters
China economy

Bitcoin mining in China rebounds, defying 2021 ban

Individual and corporate miners exploit cheap electricity and a data-centre boom in some energy-rich provinces, miners and industry data say.

Fintech

Hong Kong and Malaysian firms launch tokenised AI infrastructure fund

‘World’s first’ global-grade AI infrastructure tokenised fund gives investors access to growing demand from Asean: Tykhe and Skyvast.

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Fintech

Hong Kong’s tokenisation drive set to boost treasury centres, investments

Tokenisation could increase the efficiency of corporate treasury centres, which help clients manage global finances, market players say.

Hong Kong is set to attract more companies to set up treasury centres in the city, as it pushes to establish a tokenised financial system. Photo: May Tse
Hong Kong is set to attract more companies to set up treasury centres in the city, as it pushes to establish a tokenised financial system. Photo: May Tse
Cryptocurrency

Cryptocurrency market extends slide as bitcoin falls below US$86,000

The slump has options traders eyeing the US$85,000 threshold for market bellwether bitcoin.

Banking & finance

Asia-Pacific investors brace for market correction in 2026: survey

Top concerns include a potential tech bubble, geopolitical tensions and recession, according to Natixis.

Cryptocurrency

Chinese crypto founders shelve US$500 million ether digital asset treasury plan

Proponents call off the project amid the worsening cryptocurrency market conditions.

Delaying the ether digital asset treasury project would avoid causing losses for its investors. Photo: Shutterstock
Fintech

China ‘cements global AI leadership’ as Hong Kong builds niche as innovation hub

Beijing’s state-led strategy is among governance models shaping AI competitiveness worldwide, think tank Deep Knowledge Group says.

National support is helping propel China to the forefront of the global AI race. Photo: Xinhua
National support is helping propel China to the forefront of the global AI race. Photo: Xinhua
Alibaba

‘Extreme fear’: bitcoin crash hits Hong Kong-listed firms tied to digital assets

Bitcoin dives below US$90,000, impacting firms that had boosted their shares by rolling out various digital asset strategies.

Bitcoin

Bitcoin ETF investors in the red after cryptocurrency’s US$89,600 level breaks

The breach marks a test of mettle for investors, underscoring how fast optimism has faded in cryptocurrency markets.

Blockchain

Bitcoin erases year’s gain as crypto bear market deepens

‘The general market is risk-off,’ one analyst says.

Bitcoin has fallen back to levels reached at the end of last year. Photo: Reuters
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