HSBC launches embedded finance venture SemFi with Tradeshift
SemFi provides embedded payment, trade and financing solutions from HSBC.
Hong Kong
The latest fintech news, resources and expert analysis in Hong Kong by the leading intelligence provider for the worldwide fintech community.
Octo3 merges with fintech solutions provider Evantagesoft to launch new FTS.Money brand in Asia
The new brand is preparing to launch IBAN accounts and remittance services later this year.
UK paytech RC365 acquires Money Lenders Licence to provide digital lending services in Hong Kong
RC365 purchased the licence from private investment and advisory firm HC Capital Group for HK 230,000.
HKMA unveils latest additions to stablecoin issuer sandbox
The new sandbox aims to facilitate the “sustainable and responsible” development of HK’s “stablecoin ecosystem”.
Banque de France partners HKMA to explore interoperability between wholesale CBDC infrastructures
The exploratory study will focus on “real-time cross-border and cross-currency payments”.
CTBC Bank goes live with Avaloq core in Hong Kong and Singapore after three-year implementation
The bank first selected Avaloq to power its private banking businesses in Singapore and Hong Kong in 2021.
Mashreq to roll out Flexcube core banking system across global operations
Flexcube will be implemented at Mashreq’s international hubs in Hong Kong, the US and the UK.
Hong Kong lender FundPark lands £250m facility led by HSBC
The loan increases FundPark’s total funding facility to $750 million.
Standard Chartered pilots carbon credit tokenisation in Hong Kong with Mastercard, Mox Bank and Libeara
The pilot was conducted through the fintech supervisory sandbox hosted by the Hong Kong Monetary Authority.
Ready to bloom: the rise of CBDCs in Asia
We delve into how and why Asia has surged ahead in the global race for CBDC development.
Bank of Singapore hires former Credit Suisse exec as Greater China COO
Ronnie Cheung will lead operations and governance for the private bank’s Hong Kong branch.
Joy Cheng named as new head of Citi Commercial Bank in Hong Kong
Cheng first joined Citi back in 1993, and has since risen through the ranks of its corporate banking division.
HSBC is on an AI hiring spree with call for three new executives
The job openings are within HSBC’s digital business services unit and ventures, innovation and partnerships team.
SME lender FundPark doubles credit facility with Goldman Sachs to $500m
The $250m expansion builds on an earlier $250m ABS facility secured by the fintech in April 2022.
Hong Kong’s Allied Banking Corporation extends Finastra partnership with core upgrade
The group is migrating from Finastra’s Equation core to its cloud-based Essence solution.
Digital asset firm HashKey bags $100m Series A funding at unicorn valuation
The latest round saw participation from both new and existing investors, HashKey says, without divulging names.
UK’s Kodelab to provide lending tech for HKMA CBDC pilot with Ripple and Fubon Bank
The pilot is part of the HKMA’s three-stage approach to CBDC development.
Singapore’s Endowus raises $35m as it eyes regional expansion
The round saw participation from existing investors including UBS Next, EDBI and Prosus Ventures.
Hong Kong fintech Micro Connect raises $458m Series C funding
According to Forbes Asia, the funding round values the start-up at $1.7 billion, making it Hong Kong’s latest unicorn.
Ant Group enables Alipay+ mobile wallet integrations in Thailand
The mobile wallets include Alipay HK (Hong Kong SAR), Kakao Pay (South Korea), and Touch ‘n Go eWallet (Malaysia).
Digital banking group Tyme lands $77.8m in pre-Series C funding
Existing investor Tencent also increased its stake to become Tyme’s third-largest stakeholder.
Hong Kong Monetary Authority kickstarts e-HKD retail CBDC pilot
A total of 16 firms have been chosen from across the financial, payments and technology sectors to take part.
Crypto exchange OKX readies for Hong Kong launch
OKX sees “immense potential” in Hong Kong and is committed to building out the local ecosystem.
Hong Kong’s Livi Bank launches Livi Business for SMEs
Livi Business offers SMEs and entrepreneurs access to “fast, simple and personalised” financial services.
Shanghai Commercial Bank taps Salt Edge for PSD2 compliance solution
With the partnership, the bank says it will be able to offer customers a secure connection to external apps.
Hong Kong proposes tighter rules for digital asset exchanges
The proposed framework will bring virtual assets in line with securities brokers and automated trading venues.
Hong Kong’s ZA Bank names Ronald Iu as CEO
Iu served as chief risk officer (CRO) of ZA Bank, a role he will step down from immediately.
Singapore’s Osome raises $25m in Series B funding
The start-up uses machine learning to help businesses automate accounting, payroll and tax reporting.
Quantifeed to acquire fellow wealthtech Alpima
Together, Quantifeed and Alpima will create “a world-class technology platform”.
Hong Kong’s WeLab considers new funding round
According to Bloomberg, the fintech firm is valued at around $2 billion.
Hong Kong fintech Reap bags $40m Series A funding
The funding will be used to boost its global market expansion plans.
Bain Capital taps Chekk for KYB and KYC solutions
Chekk says its SaaS solutions “remove the pain and costs” from interactions between companies and customers.
HSBC-backed trade platform Serai shuts down
Serai was on a mission “to simplify global trade” by providing supply chain solutions to brands and manufacturers.
ICYMI fintech funding round-up: Tranch, Quantifeed, Chekk & Crowd Data Systems
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Babel Finance bags $80m Series B at $2bn valuation
The firm says it limits business to Bitcoin, Ethereum and stablecoins, and serves around 500 “select clientele”.
Hong Kong’s Planto partners NZ fintech Cogo to promote sustainability
The new software will enable consumers and small businesses to view their daily carbon footprint.
Mastercard, Pine Labs and DBS Bank to roll out BNPL credit card offering
The solution will be available on all DBS Mastercard, Visa and American Express credit cards.
FX platform M-DAQ acquires B2B cross-border paytech Wallex
The deal forms part of M-DAQ’s growth strategy as it looks to expand into new international markets.
Challenger bank Mox makes two senior tech hires
Mox has a new CIO and a new chief data, security, and innovation officer (CDSIO).
AI-focused fintech Qraft Technologies secures $146m SoftBank investment
Qraft’s US CEO says investment management is “ripe for disruption” thanks to AI.
