Hong Kong Monetary Authority selects ConsenSys for CBDC project

The Hong Kong Monetary Authority (HKMA) has selected ConsenSys, a US-based blockchain company, to develop a central bank digital currency (CBDC) project.

Hong Kong Monetary Authority, HKMA, ConsenSys, blockchain, CBDC, central bank digital currency, cross border payments, Singapore

WeLab Bank launches virtual bank services

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BIS Innovation Hub to expand to new locations in Europe and North America

BIS Innovation Hub, Europe, North America, Central banks, BIS Innovation Hub, fintech, Bank of Canada, Bank of England, European Central Bank, Eurosystem, Danmarks Nationalbank, Central Bank of Iceland, Central Bank of Norway, Sveriges Riksbank, Federal Reserve System, Hong Kong Monetary Authority, Monetary Authority of Singapore, Swiss National Bank

PayMe sees massive increase in usage due to consumers shifting to online payments

PayMe, HSBC, online payments, transactions , online shopping, Hong Kong, Hong Kong Monetary Authority, HKMA, COVID-19

SFC fines Mega International Commercial Bank with almost EUR 850.000

SFC, Mega International Commercial Bank, MICBC, Hong Kong Monetary Authority, HKMA, CISs, banks, China

The Paypers, Innopay release white paper on the global state of play in Open Banking

The Paypers and Netherlands-based financial consultancy firm Innopay have released a white paper researching the latest developments in regulatory frameworks in key geographies.

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Open Banking - Global State of Play White Paper

Individual white paper containing all the latest updates to the Open Banking Global State of Play. Research conducted by The Paypers and Innopay

Open Banking, PSD2, The Paypers, INNOPAY, Open Banking Report 2019, Europe, UK, Australia, United States, Mexico, Hong Kong, Singapore, Japan, India, and New Zealand. Standardisation, regulatory framewrok, third party providers, Hong Kong Monetary Authority, Consumer Data Right, Mexico Fintech Law, Scope of services, open banking commercial model, David Mintjes, Mountaim Cortet, Alexandra Constantinovici, Oana Ifrim

20-30% of bank branches estimated close temporarily in Hong Kong

Hong Kong Monetary Authority has introduced measures to prevent coronavirus spread, predicting 20-30% of bank branches are expected to be closed temporarily.

Hong Kong Monetary Authority, Hong Kong, Hong Kong Association of Banks, coronavirus, bank, China, Asia, APAC

Hong Kong's ZA Bank offers 6% deposit rate, challenging incumbents

Hong-Kong-based challenger ZA Bank has announced its arrival with an introductory rate of 6% or higher for deposits.

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HKMA, PBOC team up on cross-border mobile payments and other financial services

The HKMA and PBOC have reportedly decided to work together on the introduction of cross-border mobile payments and other financial services.

Hong Kong Monetary Authority, HKMA, Peoples Bank of China, PBOC, cross-border payments, digital wallets, mobile payments

Standard Chartered applies for HK virtual licence for new bank

Standard Chartered Bank (Hong Kong) has set up a new entity for its virtual bank and has already submitted its application for a virtual banking licence to the Hong Kong Monetary Authority.

Standard Chartered, virtual licence, Hong Kong Monetary Authority, digital, bank

HKMA issues guidelines on smart banking

Hong Kong Monetary Authority has issued a set of guidelines on open API framework for banking sector to help lenders develop services for customers.

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Hong Kong launches blockchain-based trade finance

Hong Kong Monetary Authority has announced going live in August 2018 with a blockchain-backed trade finance platform set to link up with 21 banks.

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Hong Kong Monetary Authority widens DLT use in Abu Dhabi trade finance

Hong Kong Monetary Authority has announced it will work with regulators in Abu Dhabi on a cross-border trade finance system built on DLT technology.

Hong Kong Monetary Authority, distributed ledger technology, trade finance, DLT, Hong Kong, United Arab Emirates, Abu Dhabi