Hong Kong’s technology news in July of 2024 captured items and headlines revolving predominantly around the city’s ongoing moves to establish HK as a global digital assets, stablecoin and cryptocurrency-related hub for the financial services sector.
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- Hong Kong: Securities & Futures Commission issues warning about 7 entities suspected of crypto-related fraud as the city moves to develop its digital assets market / full item
- Hong Kong: Kodifly raises $750k with machine learning solutions that create digital replicas of environments using LiDAR and real-time video analytics in urban environments / full item
- Hong Kong Monetary Authority announces batch 1 participants for stablecoin sandbox, with firms including Standard Chartered Bank, Animoca Brands and HK Telecommunications / full item
- Hong Kong: Government departments to use a locally-developed ChatGPT-style tool, following OpenAI’s block on access to its model for the city and mainland China / full item
“…98 out of 100 Hong Kong companies surveyed admitted to facing such breaches in their systems, compared with 93% globally, underscoring the city’s ongoing vulnerability to such scams.” / full item
- Hong Kong: 3 individuals have been arrested, accused of stealing HK$3.11 million (~$400,000) worth of Tether (USDT), seizing near 11,000 fake banknotes from the scammers’ office / full item
- Download: ‘Tokenization of Money – e-HKD and the future of global money movement’ from Visa with HSBC and Hang Seng Bank (pdf link) / full item
- Hong Kong’s proposed stablecoin regulatory regime – key takeaways from consultation conclusions, provided by King & Wood Mallesons / full item
- Hong Kong’s global digital assets hub bid continues with Monetary Authority and Financial Services & Treasury Bureau proposing licensing regime for stablecoin issuers / full item
- Hong Kong Legislative Council Member proposes working with stakeholder groups to examine implications of attempting to use Bitcoin in HK’s reserves / full item
- Hong Kong Monetary Authority and Banque de France ink MoU on collaboration on cross-border wholesale central bank digital currency, and tokenization of real-world assets / full item
- Hong Kong: BeyonCa EV firm, backed by Renault and China’s Dongfeng Motor, to site international HQ and plant in HK, marking the territory’s first luxury EV brand / full item
- City University of Hong Kong unveils 10 startup winners from the recent HK Tech 300 Southeast Asia Start-up Competition / full item
- Download: ‘Financial Scams Report – An Assessment of Scams in East Asia, in Australia, Hong Kong & Singapore’ from the Global Coalition to Fight Financial Crime / full item
- Hong Kong arm of China Pacific Insurance Group partners Swiss crypto bank, AMINA Group, with both leveraging crypto investment advisory, on/off-ramping, trading and custodial services / full item
- OnTime AKA Ruqi Mobility, a ride-hailing firm backed by Tencent, looks to raise $179MM in IPO, with trading set for Hong Kong Stock Exchange in July / full item
Hong Kong FinTech Week 2024 is set to take place from October 28 to November 1
35,000+ attendees from 100+ economies exploring opportunities in Hong Kong and across Asia / more info
Hong Kong FinTech Week 2024 / Oct 28 – Nov 1
