Cryptocurrency Analysis and News Portal
ZA Bank, Hong Kong’s biggest virtual bank by assets is reportedly set to provide crypto account services and facilitate crypto-to-fiat exchanges.According to an April 12 Bloomberg report, the bank will act as a settlement bank to allow token deposits at licensed exchanges to be withdrawn in Hong Kong dollars, Chinese
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“In order for Web3 to steadily take the road of innovative development, we will adopt a strategy that emphasizes both ‘proper regulation’ and ‘promoting development,’” said Chan. “In terms of proper supervision, in addition to ensuring financial security and preventing systemic risks, we will also do a good job in
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After Danish logistics firm Maersk terminated its blockchain-based supply chain platform last year, industry builders have not given up on blockchain applications in global trade.Hong Kong-based Global Shipping Business Network (GSBN), a non-profit consortium focused on blockchain trade applications, is bullish on blockchain as a crucial logistics tool in the
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Now is the "right time" for Hong Kong to push forward with Web3 despite the crypto market fluctuations, according to the Financial Secretary of Hong Kong, Paul Chan.In an April 9 blog post, Chan explained that one of the three major directions he has proposed in the city's budget was
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Paul Chan Mo-po, the Hong Kong finance secretary, thinks this is the right time for the city to invest in web3 technology. Web3 is maturing According to reports on April 9, Mo-po is confident that despite the recent volatility witnessed in the cryptocurrency markets, marked by the collapse of major centralized exchanges and platforms,
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The Chinese government appears to be more bullish on the cryptocurrency industry than one might think, as a major state company is reportedly launching new cryptocurrency funds.CPIC Investment Management, a subsidiary of China Pacific Insurance (CPI), is launching two crypto funds in partnership with the investment firm Waterdrip Capital, the
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One of China’s leading insurers has backed the establishment of two crypto investment funds in Hong Kong. The business move comes against the backdrop of the region’s ambitions to become a hub for digital assets, and despite the negative regulatory attitude towards the market in the mainland. Chinese Insurance Giant Enters
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The standards for Virtual Asset Service Providers (VASPs) in Hong Kong are set “incredibly high” as the Securities and Futures Commission (SFC) is wanting the crypto industry to match the same compliance standards as traditional financial firms.Speaking to Cointelegraph at the Hong Kong WOW Summit, Lucy Gazmararian, the founder of
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The U.S. government's frosty approach to cryptocurrency regulation could ultimately see the industry’s “center of gravity” shift to Hong Kong, says Ambre Soubiran, the CEO of Paris-based institutional crypto market data provider Kaiko.The U.S. has been at the forefront of the crypto sector for quite some time, however, with
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In light of Hong Kong’s commitment to developing cryptocurrency infrastructure, fintech official King Leung has visited Japan to talk with policymakers and regulators in Tokyo to better understand the idea around Web3 digital assets.In an interview with Cryptox reporter Jesse Coghlan, King said that understanding the rationale behind Japan designing
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