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HSBC, the London-based financial institution, launched the first bank-backed tokenized gold product for its customers in Hong Kong. HSBC Gold Token will allow retail investors to purchase tokenized gold from their smartphones using the bank’s online app, democratizing access to these gold contracts for retail customers and leveraging distributed ledger technology. HSBC Debuts Tokenized Gold … Read more
The Hong Kong Monetary Authority announced the launch of the second phase of the pilot of its CBDC, the digital Hong Kong dollar (e-HKD). This new phase will focus on furthering the research on already examined use cases for the currency, including programmability and tokenization, and adding new, not previously explored use cases. Hong Kong … Read more
The government of Hong Kong has announced Project Ensemble, an initiative that will test the functionality of a wholesale central bank digital currency (WCBDC) and the movement of tokenized deposits. If there is “sufficient interest” in the project, the Hong Kong Monetary Authority (HKMA) will conduct a live issuance of the WCBDC in the future. … Read more
Unlicensed cryptocurrency platforms will not be allowed to operate in Hong Kong starting next June, according to the Securities and Futures Commission (SFC). The commission closed the period for these institutions to introduce their applications to obtain a license on February 29 and will progressively expel the noncompliant exchanges from the Hong Kong market. Hong … Read more
The city of Hong Kong has detailed the advancement of new Web3 and digital yuan initiatives as part of its 2024-2025 budget. In a speech, Hong Kong Financial Secretary Paul Chan stated that the city would expedite a Web3 sandbox for stablecoins and expand the digital yuan pilot as part of its digital finance policies. … Read more
BlockShow marks its return to in-person conferences by joining forces with BlockDown to bring a crypto festival to an iconic Hong Kong location in May 2024. Go to Source
According to the securities regulator, misleading information online could encourage individuals to invest in an HKD token issued by HongKongDAO. Go to Source
The Hong Kong Securities and Futures Association also suggested that Hong Kong’s authorities could implement Islamic Banking. Go to Source
Hong Kong clients will be able to purchase Bitcoin and Ethereum in their personal accounts. Go to Source
Authorities in Hong Kong confirmed there were 145 affected users scammed on the unlicensed crypto exchange Hounax, resulting in $18.9 million in lost funds. Go to Source
