In its second policy statement on the subject, the government said it intends to take further steps to regulate digital asset service providers, exchanges and stablecoins.
VMS is looking to diversify its investment strategy, which has largely been focused on private equity.
Hong Kong is stepping up its fight against crypto-related money laundering by working with the University of Hong Kong (HKU) on technology-driven solutions, including improved tracking of virtual asset flows. The new effort was revealed in a government statement on June 12, following a four-day workshop focused on enhancing anti-money laundering (AML) strategies. Collaborative effort […]
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Hong Kong has been establishing a stablecoin regime since 2023, with the legislation expected to go into effect in August
Chainlink is set to play a major role as Hong Kong’s central bank takes a big step in its digital currency tests. Phase two of the e-HKD pilot will try moving tokenized Hong Kong dollars across borders. The plan is to swap e-HKD for A$DC, an Australian dollar stablecoin. This could cut settlement times from days to seconds. It may also show how central banks can work together with blockchain technology. Related Reading: Relentless Bitcoin Accumulation: Strategy Snaps Up 1,045 More BTC Hong Kong And Australia Test Digital Cash According to reports, the project will use Chainlink’s Cross-Chain Interoperability Protocol, or CCIP, to handle transfers. The goal is simple. Move money in real time and make sure both sides get what they expect. Phase two kicks off with Hong Kong authorities and their counterparts in Australia. They will swap e-HKD for A$DC and aim for instant settlement. Based on reports, this setup could serve as a model for other central banks. We’re excited to share that Chainlink is facilitating the secure exchange of a Hong Kong CBDC and an Australian dollar stablecoin as part of an ongoing use case in Phase 2 of the e-HKD+ Pilot Program. Congratulations to participants @Visa, ANZ, China AMC, and Fidelity… pic.twitter.com/ts2C6Vt4Ul — Chainlink (@chainlink) June 9, 2025 Chainlink Tools In Use Chainlink is not just a name in the mix. It brings two big pieces of tech to the table. CCIP handles the cross-chain messages, acting like a bridge between different blockchains. The Digital Transfer Agent, or DTA, deals with compliance. It keeps track of who owns what token and makes sure rules in different countries are met. In May, World Liberty Financial tapped Chainlink for cross-chain stablecoin transfers covering USD1. That earlier deal hinted at what’s possible this time around. Big Names Join The Pilot Visa and ANZ are helping with payment processing for e-HKD and A$DC. Asset managers Fidelity International and ChinaAMC will also take part. Their job is to manage the tokenized funds on both sides. This mix of banks, asset managers and tech firms shows the project is more than a small test. It has real money and real risks involved. Reports disclosed that those risks are managed by a Payment-versus-Payment model. This means funds are only released when both sides confirm they have received the other asset. Related Reading: Elon Musk ‘Will Do Anything’ To Make XRP King, Tech Mogul Says Market Moves And Reactions LINK, the token for Chainlink, jumped by 6% after news of the pilot broke. It now trades at $14.70. That rise follows a wider market rally driven by hopes that Bitcoin may hit $110,000 before the week’s end. According to market data, crypto traders often chase big targets. Short-term gains can be tempting. But they can also lead to quick sell-offs if the main story fades. Despite the rally, Bitcoin still tracks the equity swings rather closely. There is a mix of bulls and bears in futures data that suggests some people are not yet convinced this run will last. High volatility can shake out weaker hands at the first sign of trouble. A sudden change in risk sentiment or a fresh macro shock can quickly reverse gains. Featured image from Imagen, chart from TradingView
Crypto derivatives are a much larger market than spot trading.
The partnership centers around FinChain, a virtual asset business launched by Fosun Wealth Holdings.
Hong Kong has been working on establishing a stablecoin regime since 2023.
Hong Kong has passed a landmark bill to regulate fiat-backed stablecoins, signaling its continued push to position itself as a global hub for digital finance. On May 21, Hong Kong lawmaker Johnny Ng confirmed that the Legislative Council approved the bill after its third reading. The new law is expected to take effect before the […]
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Futu Securities, a prominent brokerage based in Hong Kong, has rolled out crypto “deposit services” for users on its Futu NiuNiu platform. According to a May 7 statement, the launch lets investors deposit and trade leading digital assets such as Bitcoin, Ethereum, and Tether. Futu NiuNiu, already known as Hong Kong’s top stock trading app, […]
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The fund aims to simplify institutional access to XRP for cross-border payments, crypto investing in Asia.
First Digital seeks an injunction to restrain Sun from publishing "similar words" to claims about insolvency.
Hong Kong’s Securities and Futures Commission (SFC) has unveiled new regulatory guidance allowing licensed Virtual Asset Trading Platforms (VATPs) and exchange-traded funds (ETFs) to offer staking services, according to an April 7 statement. Locking up tokens with staking to validate transactions in exchange for rewards is central to blockchain networks running on a proof-of-stake (PoS) […]
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Hong Kong's Securities and Futures Commission has given a green light for virtual asset trading platforms (VATPs) and authorized virtual asset funds to offer staking services.
Hong Kong lawmaker Johnny Ng has vowed that authorities will act quickly if fraud allegations against First Digital Trust (FDT), the issuer of the FDUSD stablecoin, are confirmed. In an April 3 post on X, Ng assured investors that the city’s crypto regulatory framework remains robust and committed to investor protection despite the recent high-profile […]
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Asset tokenization is a red-hot sector in crypto as asset managers around the globe are increasingly leveraging blockchain rails for traditional instruments like bonds and funds.
The company bought another 10 bitcoin, signaling confidence in crypto as a long-term asset strategy.
Consensus lands in Hong Kong for the first time Feb 18-20. Here are some highlights from a packed schedule of programming and special events.
Establishing the proper regulatory environment is essential; here’s what the territory needs to do.
Hong Kong's New Capital Investment Entrant Scheme, a visa targeting wealthy migrants, accepts crypto as a means to prove required net worth, a spokesperson confirms.
Devising clear rules for the industry is important, but it can also help to wait for others to move first, argues Chiu.
The securities regulator wants to hire staff for market surveillance and enforcement investigations.
Hong Kong is using tokenized legal notices to target anonymous crypto wallets containing stolen assets.
One step at a time. This could be the mantra of the Hong Kong-based crypto exchange firm HashKey as the company strives to broaden its reach across the world. HashKey might be getting closer to expanding its global reach after the company secured a provisional license to provide crypto brokerage services in Dubai. Related Reading: […]
The initiative will initially focus on tokenized deposits with the HKMA providing support to local banks for trials.
A venture capitalist who was one of the first investors in Solana says building liquidity is now key to Hong Kong’s development as a crypto hub.
Politicians in Germany and Hong Kong have signaled their interest in adopting strategic Bitcoin reserves for their nations.
The People’s Bank of China (PBOC) digital currency cryptocurrency regulation’s importance in its recently published 2024 Financial Stability Report. This reiteration is particularly noteworthy given the contrasting approach of crypto between mainland China and Hong Kong. Notably, while mainland China maintains its strict ban on cryptocurrency trading and mining, Hong Kong continues to diverge by actively […]
A Hong Kong legislator has proposed leveraging the “one country, two systems” framework to add Bitcoin to its national reserve for financial stability.
Hong Kong lawmaker Wu Jie has urged the city-state’s government to consider integrating Bitcoin into its fiscal reserves, a local media outlet reported. The report showed that Wu proposed that the Hong Kong Special Administrative Region (SAR) explore the inclusion of cryptocurrencies in its fiscal reserves and leverage foreign exchange funds to acquire and hold […]
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