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Blockchain

Wealth managers are moving to accommodate growing cryptocurrency adoption among their clients in Hong Kong. Photo: Shutterstock
Cryptocurrency

Hong Kong family office VMS Group makes first foray into cryptocurrency

With about US$4 billion in assets under management, VMS plans to allocate up to US$10 million to strategies run by hedge fund Re7 Capital.

Digital currencies

Bitcoin drops below US$100,000 after US strikes Iran nuclear sites

Blockchain

Hong Kong Web3 group issues blueprint for accelerating blockchain development

Blockchain

Tariffs see Chinese bitcoin-mining machine makers eye US production

Top manufacturers Bitmain, Canaan and MicroBT are setting up production in the US to counter tariff and geopolitical risks.

Canaan’s bitcoin-mining fleet in West Texas, US. Photo: Handout
Canaan’s bitcoin-mining fleet in West Texas, US. Photo: Handout
Digital currencies

Hong Kong could serve as stablecoin test bed to raise yuan’s profile

Hong Kong’s stablecoins can serve as a testing ground for the mainland, providing both experience and lessons, HashKey Group CEO says.

JD.com

JD.com founder bets on stablecoins to cut cross-border e-commerce payment costs

‘JD.com intends to secure stablecoin licences across key currency markets globally,’ founder and chairman Richard Liu says.

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Fintech

Hong Kong-based fintech LianLian Global’s Middle East expansion pays off

Firm expects Dubai operations to contribute 10 per cent of its payment transaction volume in the first year of operations, Hong Kong head says.

Hong Kong-based LianLian Global sees big room for growth for its digital remittance services in the Middle East. Photo: Handout
Hong Kong-based LianLian Global sees big room for growth for its digital remittance services in the Middle East. Photo: Handout
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.

Blockchain

With early stablecoin law, Hong Kong looks to keep edge as finance hub

Hong Kong is looking to ‘secure a leading role in global payment systems’, one analyst says, as law comes ahead of a similar US stablecoin bill.

Start-ups

Hong Kong backs start-ups at VivaTech show in push for European market

Local start-ups from HKSTP and Cyberport will appear at the Hong Kong Tech Pavilion at VivaTech from June 11 to 14.

Hong Kong Financial Secretary Paul Chan visits the booth of a local tech company at VivaTech in Paris, on May 24, 2024. Photo: Handout
Digital currencies

Hong Kong’s stablecoin law opens floodgates for boom in digital assets: brokers

Investors are increasingly interested in stablecoins, which are digital tokens pegged to a reference asset like a fiat currency.

Stablecoin logos. Photo: Shutterstock
Stablecoin logos. Photo: Shutterstock
Digital currencies

Crypto confiscated in Beijing to be liquidated in Hong Kong

Beijing’s security bureau has unveiled a plan to sell cryptocurrencies seized in criminal investigations, boosting Hong Kong’s crypto hub ambitions.

Digital currencies

Hong Kong’s stablecoin law to take effect in August

The stablecoin ordinance passed in May takes effect on August 1, requiring issuers to be licensed by the Hong Kong Monetary Authority.

Digital currencies

Hong Kong stablecoins poised to serve as a cross-border payment tool

‘Stablecoins have the potential to shorten the time for cross-border payment from days to minutes,’ Jingdong Coinlink’s Teddy Liu says.

Regulations on stablecoins are expected to significantly expand the use of these tokens around the world. Photo: Shutterstock
Digital currencies

With Hong Kong’s stablecoin law, mainland firms are preparing for a market boom

The brokerage expects the new stablecoin law to lead to more real-world asset tokenisation projects from mainland firms in the city.

Citic Securities is expecting more mainland tokenisation projects to start up in Hong Kong now that the city has passed a law regulating stablecoin issuance. Photo: Reuters
Citic Securities is expecting more mainland tokenisation projects to start up in Hong Kong now that the city has passed a law regulating stablecoin issuance. Photo: Reuters
Blockchain

‘A huge win for crypto’: US dismisses lawsuit against Binance

The dismissal marks a dramatic shift in the SEC’s regulatory stance on cryptocurrency under US President Donald Trump.

Blockchain

OKX sees tipping point for blockchain tech amid rising crypto sentiment

OKX chief commercial officer Lennix Lai says the exchange is focused on building compliant services in the US and Singapore, among other markets.

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Digital currencies

Vance says US should leverage bitcoin as strategic asset against China

US Vice-President J.D. Vance said China’s aversion to bitcoin should be reason for the US to lean into adopting the cryptocurrency.

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US Vice-President J.D. Vance delivers a keynote address at the Bitcoin Conference at the Venetian Convention & Expo Centre on May 28 in Las Vegas. Photo: AFP
US Vice-President J.D. Vance delivers a keynote address at the Bitcoin Conference at the Venetian Convention & Expo Centre on May 28 in Las Vegas. Photo: AFP
Digital currencies

Hong Kong’s crypto industry optimistic about stablecoin ‘legal clarity’

Animoca chairman Yat Siu said Hong Kong has ‘leapfrogged’ the US with its new stablecoin law, but experts warn of high short-term costs.

Digital currencies

After Trump crypto dinner, Justin Sun celebrates ‘strong signal’ to the industry

The Tron founder, with the largest holding of the $TRUMP memecoin, tells the Post that he sees recent US crypto moves affecting China.

Blockchain

Bitcoin hits record high as US-China trade tensions ease

‘A target of US$150,000 in 2025 is still very much on the cards,’ one analyst says.

A cryptocurrency exchange office in Hong Kong with a screen featuring US President Donald Trump. Photo: AFP/Getty Images/TNS
Hong Kong Monetary Authority (HKMA)

Hong Kong passes stablecoin law, clearing way for sales to public

Law sets up a ‘risk-based, pragmatic, and flexible regulatory regime’ with public protection in mind, head of city’s monetary authority says.

A view of Hong Kong’s Legislative Council Complex at Tamar in Admiralty on March 8, 2024. Photo: Jelly Tse
A view of Hong Kong’s Legislative Council Complex at Tamar in Admiralty on March 8, 2024. Photo: Jelly Tse
Blockchain

Crypto exchange Coinbase warns of US$400 million hit from cyberattack

Hackers have paid multiple contractors and employees working in support roles outside the US to collect information, the company says.

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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Digital currencies

Bitcoin gains as crypto investors bet on positive US-China trade talks

The rally followed news that the US treasury secretary and trade representative will meet with the Chinese government in Switzerland this week.

An employee watches an electronic signboard displaying the prices of bitcoin and other cryptocurrencies at the lounge of Bithumb cryptocurrency exchange in Seoul on November 21, 2024. Photo: AP
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