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

Digital currencies

Hong Kong licenses 4 more crypto exchanges amid bitcoin price surge

Banking & finance

Hong Kong set to host global heavyweights at Asian Financial Forum

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.

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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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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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Momentum in the cryptocurrency industry appears to have shifted towards the US after Donald Trump was re-elected to the presidency, but some see this as temporary. Illustration: Henry Wong
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.

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.

Bitcoin hovered near US$97,000 early in Asia on Monday. Photo: AP Photo
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.

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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.

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.

Hong Kong has attracted 17 new companies that cover an array of hi-tech industries, including artificial intelligence and big data, life and health technology, fintech, robotics, advanced manufacturing and green energy technology. Photo: Jelly Tse
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.

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.

Donald Trump speaks at the Bitcoin 2024 Conference in Nashville, Tennessee in July. Photo: AP Photo
Cryptocurrency

Trump’s crypto pledge may see China restore digital-asset market: HashKey head

HashKey chairman and CEO Xiao Feng said a number of factors may compel mainland China to open its digital-asset market in about two years.

Beijing has so far given no indication of potentially relaxing its ban on cryptocurrencies, even as Donald Trump’s US election win renews enthusiasm among digital-asset proponents in China. Photo: Shutterstock
Banking & finance

Hong Kong to invest US$38 million from investment migration scheme

The Hong Kong government’s investment arm will use funds from the investment migration scheme to promote innovation.

Blockchain

Bitcoin soars past US$84,000 as Trump’s win fuels buying spree

The largest token climbed as much as 5.6 per cent to an unprecedented US$84,360 in New York.

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