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Fintech

Fintech
Stories about how technology is used to enhance financial services, covering banking and securities
last updated:
9 September, 2024
In this photo illustration taken February 27, 2021, the Ant Group logo is seen on a mobile phone screen. Photo: Shutterstock Images
Ant Group

Ant Group expands Alipay into two business units in latest restructuring

The company will adopt a ‘rotating presidential system’ for the two new businesses, with each unit president serving a six-month term.

Hong Kong economy

Opinion | Weakest link in Hong Kong’s tech ecosystem? Scale-up funding

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Cryptocurrency

Bitcoin records first weekly decline since Donald Trump’s US election victory

Ant Group

Chinese fintech giant Ant denies imminent restart of IPO process

Amid rife speculation, the company says it has no current plans to go public or pursue a back-door listing.

An Ant Group building in Hangzhou, China. Photo: Shutterstock
Digital currencies

Hong Kong licenses 4 more crypto exchanges amid bitcoin price surge

The approvals bring the total number of licenced virtual asset firms to seven, as Hong Kong moves to revive its crypto industry.

Banking & finance

Hong Kong set to host global heavyweights at Asian Financial Forum

The event on January 13 and 14 will bring together 100 global policymakers, business leaders, investors and experts.

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Professional Education

Want to be a fintech whizz? Hong Kong universities offer cutting-edge programmes

The courses provide professionals and emerging students with a comprehensive understanding of new technologies and their impact on traditional finance models.

Hong Kong’s universities offer some of the best postgraduate degrees related to fintech. Photo: Yik Yeung-man
China stock market

Gulf financiers bet on 35% returns from Chinese assets on stimulus bets

‘If you want growth, you have to be in this corridor from the near to the Far East,’ Gulf Capital CEO says at China-UAE summit during Abu Dhabi Finance Week.

Ant Group

Jack Ma makes rare speech at Ant Group’s 20th anniversary

The Chinese entrepreneur addresses the fintech giant for the first time since it withdrew its mega IPO in 2020.

Digital currencies

Hong Kong’s crypto faithful favour local regulations, fear ‘unpredictable’ Trump

The chair of the Silk Road Economic Development Research Centre said the city still has a chance to lead in Web3 in the next decade.

Some still see room for Hong Kong to be a global leader in cryptocurrency, even as momentum shifts to the US in anticipation of Donald Trump’s return to the presidency. Photo: Shutterstock
Digital currencies

Bybit CEO says Chinese can trade crypto though VPN, but not with yuan

Bybit CEO Ben Zhou says the company plans to reapply for a Hong Kong licence next year even though regulators bar selling crypto to mainlanders.

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Bybit co-founder and CEO Ben Zhou said the cryptocurrency exchange would not cross China’s “red line” of allowing trading in yuan. Photo: Shutterstock
Yuan

China’s digital yuan roared out of the gate, but stumbling blocks have popped up

Corruption and a slow adoption of the e-CNY risk undermining the groundbreaking progress that China’s digital currency has made over the past decade.

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Digital currencies

Decentralised kingdom: bitcoin’s Trump bump and how China lost its crypto crown

As the world’s factory, China cornered the market on bitcoin mining, leading to a flurry of crypto business activity before a harsh crackdown in 2021.

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Blockchain

Hong Kong offers grants to boost tokenised bond issuance

The city’s de facto central bank is handing out up to HK$2.5 million in subsidies per issuance to qualified tokenised-bond issuers.

The HKMA plans to hand out subsidies to qualified companies to boost tokenised-bond issuances in the city. Photo: AFP
Greater Bay Area

Time running out for 250 Hong Kong-listed firms to get women on board: HKEX

At least 250 Hong Kong-listed companies do not have at least one woman on their boards despite the compliance deadline just a month away.

HKEX CEO Bonnie Chan Yiting said companies are making progress on appointing women to their boards. Photo: Xiaomei Chen
E-commerce

Most Hong Kong SMEs believe in the power of e-commerce, poll finds

The World Bank estimates that global business to consumer e-commerce sales will reach US$6 trillion by 2024.

Blockchain

Bitcoin’s march towards historic US$100,000 level stalls

‘Bitcoin was extremely overbought since the election,’ one analyst says.

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Blockchain

Bitcoin hits US$97,000 as crypto sector seeks White House post

The world’s largest digital asset reaches an all-time high in Asia on Thursday.

US President-elect Donald Trump at the Bitcoin 2024 event in Nashville, Tennessee, in July. Photo: Reuters
Digital currencies

Shanghai court says crypto ownership legal in China amid bitcoin price surge

In an opinion on a recent lawsuit, a Shanghai judge wrote that cryptocurrencies have the attributes of property and thus holding it is legal.

Banking & finance

BlackRock’s AI is watching – and helping to make stock picks

How asset managers are exploring the use of artificial intelligence, while regulators including Hong Kong’s watchdog try to set guard rails.

Digital currencies

Hong Kong bitcoin ETFs finally see trading surge after Trump bump in the US

The city’s three spot bitcoin ETFs became active trading targets this week, with US$17 million trading hands on Tuesday.

People stand next to bitcoin ATMs outside a cryptocurrency exchange in Hong Kong on November 14. Photo: AFP
SCMP Highlights

Recap | Dogecoin surges as Trump appoints Musk, FTX sues Binance: 5 cryptocurrency stories

Discover how Trump’s policies and Elon Musk’s new role have boosted dogecoin and bitcoin, and a potential impact on China’s digital-asset market in our round-up.

Dogecoin was seen as a joke at first, but has since amassed a group of fans who have periodically sent its price soaring. Photo: Shutterstock
Thailand

Trump win sparks bitcoin boom across Asia: ‘it rises above the chaos’

With bitcoin prices surging, Asia’s digital asset entrepreneurs see new opportunities under Trump 2.0.

Hong Kong

Editorial | Hong Kong office attracts firms to live up to its name

City is being reinvigorated as regional business hub thanks to success of body bringing in hi-tech talent.

Banking & finance

Ant-backed digital bank targets smaller businesses with quick, easy services

Digital bank says clients need better services, easier access to financing.

Anext Bank has made its name by providing digitised, cross-border financial services to micro, small and medium-sized enterprises. Photo: Anext Bank
Ant Group

Ant-backed credit rating firm gets central bank approval after 3-year wait

The joint venture, 35 per cent owned by Ant Group, had a prolonged wait after previously licenced firms were approved within weeks of applying.

The headquarters of Ant Group in Hangzhou on November 3, 2020. Photo: Shutterstock
Blockchain

FTX sues Binance and former CEO ‘CZ’ for US$1.8 billion

The lawsuit relates to Binance’s sale of its stake in FTX, the rival exchange founded by the now-imprisoned Sam Bankman-Fried.

Blockchain

Bitcoin breaks US$89,000 for the first time on Trump crypto boom

The largest token has jumped about 30 per cent since the US election, as traders weigh whether there is still room to chase.

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