Hong Kong
Hong Kong fintech news from China Fintech: stablecoins, virtual banks, HKMA and SFC policy, and Hong Kong’s links with mainland China.
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Deep dive: Hong Kong takes tokenised settlement live for deposits, gold and funds
At Hong Kong FinTech Week the HKMA moved EnsembleTX to round-the-clock settlement in tokenised central bank money, and banks used it for the first gold trades paid in tokenised deposits.…
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Hong Kong FPS to link with UnionPay International by year-end for QR payments at 100 million merchants
The HKMA says Hong Kong’s Faster Payment System will connect to UnionPay International by the end of 2026, letting FPS app users scan QR codes at over 100 million merchants.…
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Hong Kong’s PhotonPay raises US$40 million to connect stablecoins with cards and local clearing
PhotonPay, founded in Hong Kong in 2015, closed a US$40 million Series C led by Blockchain Capital, with SBI Group as a new investor. The money goes to stablecoin and…
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HKEX Integrated Fund Platform adds nominee services as brokers begin fund orders
HKEX launched Platform and Nominee Services on its Integrated Fund Platform, so brokers and other distributors can now subscribe to and redeem funds for clients. More than 60 firms have…
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Hong Kong SFC opens round-the-clock trading of tokenised money market funds
Two ChinaAMC tokenised money market funds now trade around the clock on a licensed virtual asset platform, after the SFC approved the first secondary trading of tokenised public funds.
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Hong Kong plans tokenised warehouse receipts pilot at HKEX in 2027
HKEX aims to pilot bank financing against tokenised warehouse receipts in 2027, and Hong Kong will connect its new OTC gold clearing system to RTGS before a first-quarter launch.
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HSBC launches RedCoin stablecoin on PayMe, with tokenised fund access to follow
HSBC Hong Kong began rolling out its HKD stablecoin RedCoin in PayMe and plans to let customers buy a tokenised money market fund with it this year.
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