The quarterly summary of tech, startup and VC news from Hong Kong in Q2 of 2024, covering April, May and June of the year.
In June 2024 | In May 2024 | In April 2024
Hong Kong FinTech Week 2024 / Oct 28 – Nov 1
Hong Kong tech news in June 2024
- 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
- Hong Kong: Legislative Council rolls out Subcommittee on Web3 and Virtual Asset Development to boost digital assets industry, inviting input on policy / full item
- HSBC China rolls out e-CNY services to corporate clients, the first foreign bank to offer services around central bank digital currency to both retail and corporate sectors / full item
- Gov’t-owned Hong Kong Investment Corp to ink agreement with as-yet unnamed local ‘unicorn’ for industrial AI and smart manufacturing across Greater Bay Area / full item
- Hong Kong: Mezzofy secures $2M with end-to-end digital coupons-as-a-service platform, simplifying issuance, campaigns, collateral and management for businesses / full item
- Seoul Metro Gov’t foreign investment agency to host ‘Seoul Forward, Your Next Business Destination’ conference in Hong Kong on June 11th, looking to draw HK firms and startups to Korea / 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
- China Manned Space Engineering Office selected 10 astronauts for 4th astronaut cohort, with Hong Kong and Macao astronauts participating for the first time / full item
- Singapore’s Infocomm Media Dev Authority and HK’s Office of Comm’s Authority ink MOU to collaborate on combatting cross-border scams / full item
Asia Blockchain Summit 2024 / Taiwan, August 6-8
Hong Kong tech news: May 2024
- Hong Kong privacy regulator finds Worldcoin, backed by OpenAI’s Altman, contravened local privacy laws, requiring Worldcoin Foundation to now cease all operations in the jurisdiction / read it here
- Hong Kong: Mastercard and Standard Chartered Bank HK completed first live test of Mastercard Multi-Token Network proof-of-concept, tokenizing sandbox-limited carbon credits / read it here
- Hong Kong: YouTube to comply with court ruling, blocking HK access to 32 video links deemed ‘prohibited content’, the Glory to Hong Kong protest song / read it here
- Hong Kong’s Brinc venture accelerator unveils 9 startups selected for Spring 2024 Web3 and Gaming accelerators, working on crypto accounting, e-commerce, NFTs and more / read it here
“China’s presence in subsea cable networks is fading rapidly. Three international cables to connect Hong Kong are due for completion in 2025, but no undersea projects are scheduled for the country thereafter.” / read it here
- Hong Kong central bank forms Project Ensemble Architecture Community from industry and regulators to set tokenization standards, including around use of wholesale CBDCs / read it here
- Hong Kong’s Brinc venture accelerator unveils 9 startups selected for Spring 2024 Web3 and Gaming accelerators, working on crypto accounting, e-commerce, NFTs and more / read it here
- Hong Kong Uni of Science & Tech launches HK$500M HKUST Redbird Innovation Fund aiming to establish multiple Venture Investment Funds to a collective value of HK$2BN / read it here
- Singapore’s MetaComp, a digital assets-focused financial tech group, partners Hong Kong’s Harvest Global Investments to offer crypto spot ETFs to Singapore’s investors / read it here
- Emerging Enterprise 2024 Awards are now open for applications, seeking early-stage businesses in Singapore, Hong Kong, Indonesia and Malaysia / read it here
Singapore FinTech Festival – November 2024
Hong Kong Tech: April 2024
- Hong Kong: Hang Seng Bank launches $4.2BN SME Power Up Fund to boost small business development, including cross-border opportunities in China’s Greater Bay Area / read it here
- Hong Kong: HSBC now allows retail investors in Hong Kong to purchase real gold using digital ledger-based digital tokens / read it here
- DigiFT, a decentralized finance exchange for blockchained real-world assets, expands into Hong Kong via Cyberport Incubation Programme / read it here
- Hong Kong: EnerVenue looks to space for energy storage for use on Earth with nickel-hydrogen batteries, fireproof and capable of far wider temperature operation than Lithium-Ion / read it here
- Hong Kong regulators likely to approve the first set of spot-bitcoin exchange-traded funds this week, with trading potentially commencing this month / read it here
- Hong Kong: “Residents spend billions of dollars on trades in unregulated markets, forcing authorities to propose tightening rules while simultaneously trying to build the city’s status as a respected and open market.” / read it here
- Hong Kong has approved trading of Bitcoin and Ether Spot Exchange-Traded Funds, allowing HK traders to invest in BTC and ETH via traditional stock markets, eliminating the need for crypto exchanges / read it here
- Hong Kong: Brinc venture accelerator launches IGNIT3, a bespoke full-service token advisory program, to aid blockchain startups through the lifecycle of a token offering / read it here
- Hong Kong Securities & Futures Professionals Ass’n calls for independent self-regulatory organizations to oversee HK’s digital assets sector, rather than SFC / read it here
- Hong Kong: Brinc venture accelerator launches IGNIT3, a bespoke full-service token advisory program, to aid blockchain startups through the lifecycle of a token offering / read it here
- Chinese nationals barred from Hong Kong’s spot Bitcoin and Ethereum ETFs, even though 3 offering firms are mainland offshore asset managers with products tradable in Yuan / read it here
- ICYMI: Google to sue 2 app developers who allegedly uploaded 87 Play Store apps to enable crypto-based romance scheme fraud, tracing activities back to 2019 / read it here
Asia/Indo-Pac tech news
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