Hong Kong Enforces Strict Stablecoin Regulation
According to experts, Hong Kong’s stablecoin regulation’s stringency surpasses Singapore’s and may endanger significant players such as Tether (USDT) and USD Coin (USDC). According to a report by the South China Morning Post, Chengyi Ong, the Head of APAC Policy at Chainalysis, considers the proposed regulation for stablecoins in Hong Kong to be more stringent […]
Hong Kong Firm Mulls Tokenizing 3-ton Gold Vault
Value Partners, a publicly traded business in Hong Kong, intends to apply for cryptocurrency-related ETFs and issue blockchain tokens backed by real gold. According to local media Hong Kong Commercial Daily, the company intends to tokenize its three tonnes of gold bars, which are currently valued at an estimated $201 million. Value Partners thinks that […]
Hong Kong to Oblige Stablecoin Issuers to Obtain Licence
The government of Hong Kong has suggested approving and controlling fiat-pegged stablecoins (FRS). The paper states that stablecoins will be available for purchase by retail investors through the Financial Services and the Treasury Bureau (FSTB) and the Hong Kong Monetary Authority (HKMA), but that the issuers of these coins will need to receive a unique […]
Hong Kong’s ZA Bank Expand Web3 Offerings to 80 Firms
Chinese online bank ZA Bank has disclosed plans to provide retail clients with cryptocurrency trading services using fiat currencies. Although he did not give a timeline, ZA Bank CEO Ronald Iu stated in an interview with the Hong Kong Economic Journal that the Hong Kong-based company eventually wants to start selling crypto trading services with […]
Hong Kong Mulls More Digital Green Bond Sales Amid Hub Push
Hong Kong reportedly hired a group of banks to assist in establishing a digital hub for issuing green bonds utilizing blockchain technology. According to a Bloomberg article, the city is reportedly in discussions to form a group that will investigate the viability of issuing multi-series fixed-rate digital green bonds with HSBC, Credit Agricole, Bank of […]