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The Government of the Hong Kong Special Administrative Region of the People’s Republic of China (HKSAR Government) announced on Feb 16 that it had issued HK$800 million in tokenized green bonds, under the Government's Green Bond Program (GBP). The bonds were underwritten by four banks and priced at a yield
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Eligible clients include individuals with over 8 million Hong Kong dollars and institutions with over 40 million Hong Kong dollars in investable assets. Source
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DBS, the largest bank in Southeast Asia, has unveiled its plan to expand its crypto services in Hong Kong. “We are planning to apply for a license in Hong Kong so that the bank could sell digital assets to our Hong Kong customers,” said an executive of the bank. DBS Bank
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Interactive Brokers, a global brokerage firm with headquarters in the United States, announced the launch of its crypto trading services for institutional clients in Hong Kong on Feb. 14. The crypto trading services were launched in association with OSL Digital Securities, a Securities and Futures Commission-licensed digital asset brokerage and
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Singapore state-owned megabank DBS Group is planning to expand its cryptocurrency services to Hong Kong as the Chinese territory pushes to become a digital asset hub.DBS Bank plans to apply for a license to allow it to offer crypto trading services to Hong Kong customers, Bloomberg reported on Feb. 13.“We
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Regulators in Hong Kong are stepping up their game when it comes to monitoring the activities of the crypto industry. According to a Securities and Futures Commission report filed on Feb. 6, it plans to hire four additional staff to “better supervise” the activities of local virtual asset (VA) providers. Moreover, the
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The Hong Kong regulator HKNA noted that algorithmic stablecoins like TerraUSD won’t be entertained as part of the region’s new stablecoin legislation.Over the last few months, Hong Kong has been working to revive its cryptocurrency market and has been looking to establish itself as a major crypto hub in Asia.
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In the key principles of its upcoming regulatory framework, the Hong Kong Monetary Authority (HKNA) didn’t find a place for algorithmic stablecoins. Instead, the chief financial regulator will demand all stablecoin issuers back up their values with underlying reserve assets at all times.On Jan. 31, the HKNA issued the consultation
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Algorithmic stablecoins like terraUSD will not be accepted under the planned regulatory regime, the Hong Kong Monetary Authority said. Source
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