Hong Kong prepares to launch metaverse ETF, while India tries metaverse dating on the Moon.
Hong Kong’s first metaverse-themed exchange-traded fund (ETF), the CSOP Metaverse Concept ETF, is scheduled to be listed on Feb. 21 on the Stock Exchange of Hong Kong, according to a CSOP Asset Management disclosure document. See related article: NFTs, metaverse listed as top ‘must watch’ security risks in Hong Kong Fast facts The metaverse ETF […]
The city’s global reach, Hong Kong dollar and mainland ties make it a good fit for Chinese authorities to trial e-CNY international payments.
Hong Kong’s Ocean Park announced on Monday that it is entering The Sandbox metaverse to offer virtual experiences through non-fungible tokens (NFTs) and gaming, as visitors to its physical venue dropped throughout the pandemic. Fast facts The government proposed last January that it will transform the physical theme park into a resort and leisure destination […]
A Hong Kong government-run internet security watchdog has listed risks associated with non-fungible tokens (NFTs) and the metaverse as a top “must watch” security threat this year, while both trends continue to thrive in the city. Fast facts The Hong Kong Computer Emergency Response Team Coordination Centre said in a statement last week that criminals […]
Upcoming digital yuan trial to piggyback on Hong Kong’s popular Faster Payment System for smoother cross-border transactions.
The Hong Kong government intends to propose a licensing system for crypto exchanges, according to a discussion paper published on Monday. Fast facts The proposed amendments to the Anti-Money Laundering and Counter-Terrorist Financing bill will designate any crypto exchange as a “regulated virtual asset activity” and any person who seeks to engage in this work […]
Hong Kong’s financial regulators released new guidelines on Friday that restrict retail investor access to financial products that invest directly in digital assets. Fast facts In a joint circular released by the Hong Kong Monetary Authority (HKMA) and the Securities and Futures Commission (SFC), the regulators placed sales restrictions on non-derivative products such as crypto […]
Hong Kong’s central bank digital currency (CBDC) project with three other central banks and the Bank of International Settlements (BIS) will enter its pilot stage this year to test international trade settlements, a Hong Kong government official said. Fast facts Christopher Hui, Hong Kong’s Secretary for Financial Services and the Treasury, said on Wednesday the […]
The Bank for International Settlements (BIS) Innovation Hub announced on Tuesday that its Hong Kong Center will explore this year whether decentralized finance (DeFi) can improve financing for small and medium enterprises. Fast facts In Hong Kong, the BIS has been working with central banks of China, Hong Kong, United Arab Emirates and Thailand on […]
Stablecoins and CBDCs will likely co-exist in the city, experts say, as Hong Kong looks to thrive as crypto hub.
Brinc, a Hong Kong-headquartered venture capital focused on Web 3.0, today announced that it has secured US$30 million in a Series B round and an additional US$100 million for startup investments. The funding was led by Animoca Brands — a Hong Kong-based blockchain gaming, metaverse and non-fungible token (NFT) company — to further fuel Brinc’s investment in […]
Crypto 1 will consider acquisition targets worldwide but steer clear of digital assets companies in China and Hong Kong. Are the lights dimming on a major crypto hub?
US SPAC Crypto 1 closes IPO, says won’t pursue ‘business combinations’ with any Hong Kong crypto firms
Crypto 1 Acquisition Corp., a U.S.-incorporated blank check company, has completed its initial public offering (IPO) with gross proceeds of US$230 million, according to a company statement released Friday. Fast facts The company’s units commenced trading on the Nasdaq Global Market under the ticker symbol “DAOOU” on Dec. 7. Acting as a special purpose acquisition […]
Gamers and developers gather at the annual Digital Entertainment Leadership Forum to discuss how video games may evolve in the future.
Hong Kong-based venture capital (VC) firm Chiron Partners announced Wednesday the launch of a US$50 million fund to support the Terra blockchain ecosystem. Fast facts Chiron Partners will use the fund, namely the Chiron Terra Fund I (CTI), to invest in innovative projects built on the Terra ecosystem, such as decentralized finance (DeFi) applications and […]
A new survey published Wednesday by Visa shows that 18% of Hong Kong residents are active cryptocurrency investors, while 13% are passive investors, representing the second-highest engagement with crypto just after the U.S. Fast facts The survey collected 6,430 online responses from Argentina, Australia, Brazil, Germany, Hong Kong, South Africa, the U.S., and the U.K. […]
Mu Changchun, director-general of the People’s Bank of China’s digital currency institute, said today the central bank is working with the Hong Kong Monetary Authority (HKMA) to test cross-border payment features for the e-CNY, China’s much anticipated central bank digital currency (CBDC). Fast facts Mu said at a webinar, jointly organized by the PBOC and […]
Hong Kong-based ViLab Limited, a metaverse developer, announced today that it has signed a memorandum of understanding (MOU) with Gulliver Studios, the effects creator behind the Netflix hit series Squid Game, to develop technology that can be used for creating virtual identities and other features for the metaverse. Fast facts ViLab and Gulliver Studios will […]
The 118-year-old Hong Kong newspaper South China Morning Post released a white paper today on its non-fungible-token (NFT) project called ARTIFACT, as well as announcing the launch of the first series of collections of historical events called ARTIFACTs by SCMP. Fast facts ARTIFACT is a project that the SCMP designed to tokenize their reports of […]
First Digital Trust, a Hong Kong-regulated trust and custodian specializing in digital assets, has become the first official custodian of IX Swap, a security token and cryptocurrency exchange, according to a company announcement today. Fast facts IX Swap is a decentralized finance (DeFi) automated market maker and liquidity pool for security tokens and tokenized stocks. […]
The city’s disaffected post-protest youth and recent statistics suggest a brain drain in the city’s future.
One of Asia’s largest fintech events returns for its sixth year with a hybrid format of live and virtual sessions. Regulators, corporations and experts share what’s important now in crypto.
Yi Gang reiterates the PBOC’s stance to protect data, while failing to address privacy concerns over digital yuan.
In a city where memories disappear every day, people are turning to blockchain to preserve news archives — so the first drafts of history will survive.
CMCC Global, a venture capital firm based in Hong Kong, is targeting US$300 million worth of assets in its latest crypto fund, according to Bloomberg. Fast facts Since being launched in April, CMCC’s fourth digital asset fund has gathered assets close to an estimated value of US$90 million with a goal to reach the US$300 […]
Hong Kong-based blockchain technology company digiXnode Technology Ltd. today officially launched an exclusive service portal — for users in Hong Kong and Macau — that grants access to the Blockchain-based Service Network (BSN), China’s public-private nationwide infrastructure project to spur mass adoption of blockchain technology. Fast facts By subscribing to the service from digiXnode’s website […]
Mainland China’s recent ban on crypto, the most draconian yet, did not come as a surprise to those in the know, says Angelina Kwan of HashKey Group. How will this affect the crypto hub of Hong Kong?
An NFT art exhibition demonstrates how digital tokens can be used to promote United Nations sustainability goals.
The Hong Kong Monetary Authority (HKMA) on Monday released a white paper proposing potential technical architecture and design for the infrastructure of a digital Hong Kong dollar. The paper is one of the deliverables described in Project e-HKD, a feasibility study the HKMA announced in June 2021. Fast facts Hong Kong began its exploration of […]
Mainland China’s recent clampdowns on crypto are reverberating beyond its borders. In a special Q&A, former regulator and crypto industry leader Angelina Kwan discusses what this means for Hong Kong.
Babel Finance, a Hong Kong-based crypto lender and asset manager, today announced it is opening a business headquarters in Singapore named Babel Asia, as the company looks to serve more clients globally. Fast facts Babel Asia plans to serve as a base for future merger and acquisition activities, together with Babel Finance to drive mainstream […]
Blockchain-based Service Network (BSN) soft launch is the first attempt to roll out the state-backed ‘internet for blockchain’ outside of the Chinese mainland.
Initium Media, also known as 端傳媒, is turning to blockchain technology to grow revenue and to ensure controversial news does not get forgotten — or tampered with.
Top blockchain and cryptocurrency news: El Salvador’s BTC experiment. EthereumMax and the power of celebrity. Hong Kong shores up regulatory oversight.
An official from Hong Kong’s Securities and Futures Commission said on Tuesday that the regulator wants to increase oversight of virtual assets because scams related to them have emerged in the market, according to a report by local media etnet. Fast facts Julia Leung, deputy chief executive officer at SFC, said Tuesday at a webinar […]
Hong Kong’s Securities and Futures Commission on Monday warned that digital tokens and initial coin offerings (ICOs) could be involved in unauthorized collective investment schemes (CIS) and urged investors to exercise extreme caution. Fast facts The SFC’s warning comes as the regulator added two property-related CIS investment projects and the “LABS Security Token” to its […]
The 20th hijack this month, after Poly Network, Solend and Liquid.
The South China Morning Post, Hong Kong’s paper of record for 118 years, is experimenting with NFTs and metaverse technology to bring its storied past into the future.
The team joins a growing number of football clubs around the world launching non-fungible tokens (NFTs) as they look to engage fans and generate new revenue streams.
Despite speculation that the NFT market is cooling, OpenSea continues to post record transaction volumes, and Hong Kong artists are getting in on the action.
Singapore and Hong Kong are at the forefront of regulations over crypto exchanges, writes Vince Turcotte of Eventus Systems. Here’s why trade surveillance and risk management will be critical.
Binance bans derivatives in Hong Kong while Ethereum fork boosts trading
Binance — the world’s largest cryptocurrency exchange by trading volume — today announced that it will be restricting the use of its derivatives products for customers from Hong Kong. Fast facts Hong Kong customers will, with immediate effect, not be able to open new Binance deriviative product accounts, according to a Binance announcement posted at […]
Hong Kong crypto crime surges as Tencent launches NFT platform.
Crypto-related crime has hit record levels in Hong Kong for the first six months of this year, with one victim losing HK$124 million (US$15.95 million) to fraudsters, according to the South China Morning Post. Fast facts Hong Kong police recorded 496 such cases totaling HK$214.4 million (US$27.58 million) in just the first half of this […]
Closure of blockchain business may be related to regulatory concerns, but unlikely to hit crypto industry hard, observers say.
Hong Kong newspaper the South China Morning Post is making a foray into the world of non-fungible tokens in the latest move by a Hong Kong publisher to preserve content through blockchain technology. Fast facts The SCMP today released its “ARTIFACT” lite paper, a project designed to advocate “a standardized metadata structure for recording accounts […]
Hong Kong’s Securities and Futures Commission today issued a warning that Binance — the world’s largest cryptocurrency exchange by trading volume — was not allowed to conduct “regulated activity” in the city, specifically trading in stock tokens. Fast facts In its statement, the SFC said it was aware that Binance was offering stock tokens in […]
Hong Kong’s Financial Services Development Council — a cross-sector advisory body established by the government to engage the city’s financial services industry — is putting together industry feedback on the government’s legislative proposals related to virtual assets and virtual asset service providers. Fast facts In May, Hong Kong’s Financial Services and the Treasury Bureau released […]
Tether stablecoins linked to funds funneled to banks in Singapore and elsewhere amid worldwide cryptocurrency crime increase.
NFTs offer haven as authors self-censor amid intensifying crackdown on free expression.
Eddie Yue, CEO of Hong Kong Monetary Authority lays out the future of the territory’s digital currency at a Hong Kong Academy of Finance event.
Hex Trust, a Hong Kong-based digital asset custodian, today announced that it has secured investment from Cyberport, a technology incubator project backed by the Hong Kong government.
Hong Kong’s Securities and Futures Commission chief, Ashley Alder, kicked off a firestorm during Hong Kong FinTech Week 2020 by announcing a plan to regulate all cryptocurrency exchanges that operate in the city or target its citizens. These new proposed rules would replace a voluntary framework introduced in 2019 that allowed exchanges to opt in […]
Hong Kong’s financial secretary has reiterated the city’s determination to develop digital versions of the Hong Kong dollar and the mainland Chinese yuan.
A tech-savvy activist is using blockchain technology to preserve content from Hong Kong’s Apple Daily, which was yesterday forced by the government to shut down.
France-based PlanetWatch, which records air quality data on Algorand’s blockchain, has launched its first test sensor in Hong Kong.
The Chinese University of Hong Kong and Ethereum software company ConsenSys today announced the launch of a Covid-19 digital health passport.
Input Output Hong Kong has announced on Twitter that it has launched AlonzoBlue2.0 to the Cardano testnet.
Hong Kong looks to explore CBDC feasibility as Australian millennials favor investing in crypto over traditional assets.
Hong Kong will be initiating a study on a digital Hong Kong dollar as part of its plans to “future proof” the city for central bank digital currencies.
As 50,000 Bitcoiners and crypto superstars whoop it up at Miami’s Bitcoin 2021 fest, a smaller group of BTC fans hold their own at the Fringe in Hong Kong.
Hong Kong-based cryptocurrency exchange Crypto.com has announced that it is committed to becoming carbon-negative within 18 months, following carbon-neutral initiatives launched by other Hong Kong-based cryptocurrency exchanges FTX and BitMEX.
A proper regulatory system for cryptocurrencies and virtual assets can facilitate development, protect investors, and adhere to international regulatory standards, says treasury chief Christopher Hui
Hong Kong is poised to ban small investors from buying cryptocurrencies, while making exchanges get licences. Industry experts discuss how this might play out.
Hong Kong reacts to the region’s pending legislation on limiting crypto investment to professional investors while a conglomerate enters South Korea’s crypto custody scene.
Cryptocurrency exchanges in Hong Kong will have to obtain licenses from the territory’s markets regulator and limit their service offerings to “professional investors”, according to the results of a consultation published today.
US and Singapore have licensing laws that give investors more confidence in crypto firms. Stephen Richardson of Fireblocks urges Hong Kong to follow suit.