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Tag Archives: Hong

Hong Kong Trade Finance Will Fight Fraud With a Blockchain-Based Platform

The Hong Kong Monetary Authority (HKMA) has partnered with Chinese Ping An to release a blockchain-based trade finance platform. The joint effort is expected to speed-up the process and prevent fraud. CCN first reported the Hong Kong’s de facto central bank’s initiative back on March 30. At the time, the bank unveiled a proof-of-concept (PoC) blockchain platform built for trade ...

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Hong Kong Monetary Authority to Launch Multi-Bank Blockchain Trade Finance Platform

Hong Kong’s de facto central bank will launch its own blockchain trade finance solution with 21 banks in August, Financial Times (FT) reported Sunday, July 15. The joint venture between the Hong Kong Monetary Authority and Chinese company Ping An Group’s fintech subsidiary OneConnect aims to substantially reduce paperwork, costs security risks for participants, FT reports. A major aim of ...

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Bitfair to Appear at RISE in Hong Kong

This is a paid-for submitted press release. CCN does not endorse, nor is responsible for any material included below and isn’t responsible for any damages or losses connected with any products or services mentioned in the press release. CCN urges readers to conduct their own research with due diligence into the company, product or service mentioned in the press release. June ...

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Hong Kong Continues Taking Regulatory Action, Hopes to Become International Blockchain Hub

On June 27, Hong Kong’s Securities and Futures Commission (SFC) declared in their annual report that they will “keep a close watch” on crypto and Initial Coin Offerings (ICO). According to the watchdog, the new technology “comes with risks,” which is why they plan to “intervene when appropriate.” Indeed, the SFC has stepped in with more definite regulatory policies this ...

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Hong Kong VC Firm Invests $160 Million in World’s First Security Token Exchange

A Hong Kong venture capital firm has reportedly agreed to invest $160 million in Chinese security token exchange tZero. As reported by China Money Network, Hong Kong-based GSR Capital has entered into a $160 million purchasing agreement with the security token exchange tO.com Inc (tZERO) for its security tokens at US$10 per token. GSR Invests $160 Million in Security Tokens GSR, ...

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Hong Kong VC Invests $160 Million in Overstock-Backed tZero ICO

A Hong Kong-based venture capital firm is placing a major bet that tZero, a security token exchange owned by e-commerce company Overstock, will prove to be a central hub in what blockchain visionaries have termed the “tokenization of everything.” GSR Capital, which also has offices in Beijing and Silicon Valley, has entered into an agreement to purchase $160 million worth ...

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Hong Kong Regulators to Remain Vigilant on Cryptocurrency

Hong Kong’s Securities and Futures Commission (SFC) has released its annual report in which it states the commision will continue to monitor the cryptocurrency market and step in with penalties when it needs to. SFC Will Remain Vigilant The document highlights the risks tied to investing in the emerging technologies and especially singles out initial coin offerings (ICO) as a ...

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Hong Kong Securities Regulator Promises to Keep ‘Close Watch’ on Crypto Sector

Hong Kong’s Securities and Futures Commission (SFC) says in their 2017-2018 annual report released today, June 27, that they will “keep a close watch” on crypto and Initial Coin Offerings (ICO). The SFC notes that since new technologies “come with risks,” they will be looking closely at crypto and ICOs and “intervening when appropriate.” The report states that the SFC ...

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Second Bitcoin Mining Manufacturer Plots Hong Kong IPO

China-based bitcoin mining hardware manufacturer Ebang Communication has filed to go public on the Hong Kong Stock Exchange (HKEX). The company, the third-largest producer of application-specific integrated circuit (ASIC) chips for bitcoin mining, on Monday filed an application to hold its initial public offering (IPO) on HKEX. The news was first reported by regional industry publication 8btc, which obtained a ...

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