Hong Kong
Hong Kong fintech news: stablecoins, virtual banks, HKMA and SFC policy, digital assets, payments and funding in Asia’s financial hub.
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PhotonPay raises US$40 million led by Blockchain Capital to tie stablecoins to cards and local clearing
Hong Kong cross-border payments company PhotonPay has closed a US$40 million Series C led by Blockchain Capital, with SBI Group joining, to expand stablecoin wallets, card issuing and local clearing.
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Deep dive: Asian banks move stablecoins into wallets and cards before the rules are finished
In one week, banks and card issuers in Hong Kong, Singapore, Korea and Japan moved stablecoins closer to everyday payments. How far each can go depends on local rules, which…
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HSBC rolls out HK dollar stablecoin RedCoin to 3.3 million PayMe users
HSBC begins a phased launch of its Hong Kong dollar-backed stablecoin inside PayMe, starting with person-to-person transfers and merchant payments.
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Bain Capital commits up to US$250 million to Hong Kong e-commerce lender FundPark
FundPark secures an initial US$100 million, plus up to US$150 million more, from Bain Capital as it passes US$10 billion in cumulative lending.
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