Hang Seng Bank has introduced “JustPay”, an industry-first payment experience featuring a voice recording function. The platform includes “Sweet Pay”, which enhances cross-bank transfers with animations and text messages, providing an interactive and instant money transfer experience. Built on Hong Kong’s Faster Payment System (FPS), JustPay enables customers to transfer funds instantly to friends and family. The service is integrated into the Hang Seng Mobile App, allowing secure and convenient transfers across banks and digital wallets. Rannie Lee, Head of Wealth and Personal Banking at Hang Seng Bank, said, “By anticipating customer needs, we develop innovative solutions that seamlessly integrate…

AI is changing banking faster than ever, from how banks detect fraud to how customers interact with apps. In this roundtable moderated by Fintech News Network’s Vincent Fong, top leaders from Malaysia’s digital and incumbent banks discuss how they’re applying AI across every layer of operations and what’s next as agentic AI enters finance. Featuring: William Streitberg, Chief Information and Technology Officer, Hong Leong Bank Kaushik Chowdhury, CEO, GXBank Nic Ngoo, CTO, Ryt Bank Chee Mun Foong, Chief Product Officer, Ryt Bank Glen Cha, CTO, AEON Bank Diana Boo, CMO, Boost Gerard Ang, Country Head, Financing & Securities Services, Standard…

The Hong Kong Monetary Authority (HKMA) published the “e-HKD Pilot Programme Phase 2 Report”, presenting findings from 11 industry pilot groups under Phase 2 of the e-HKD Pilot Programme. The report also outlines the HKMA’s current policy stance on the e-HKD. Since 2017, the HKMA has conducted exploratory work on a central bank digital currency (CBDC), the e-HKD, using distributed ledger technology (DLT). This work has considered potential applications in both wholesale and retail scenarios. Phase 2 focused on evaluating the commercial viability and scalability of an e-HKD in retail use cases, and compared it with tokenised deposits to assess…

Ant Group has applied to register several trademarks related to virtual assets and blockchain technology in Hong Kong, including one for “ANTCOIN.” The company submitted applications with Hong Kong’s Intellectual Property Department covering digital wallets, stablecoins, and online payments. The ANTCOIN application, submitted in June, remains pending. The filings include registrations for online payments, electronic wallets, foreign exchange services, and the issuance and transfer of stablecoins and digital tokens, according to CoinSpeaker. Joshua Chu, lawyer and co-chair of the Hong Kong Web3 Association, said the trademark applications are a way to protect Ant Group’s interests in Hong Kong’s virtual asset…

Japan launched the world’s first yen-pegged stablecoin on Monday (27 October), marking a cautious step forward in a country where cash and credit cards still dominate daily transactions. JPYC, a Japanese startup, began issuing the stablecoins, also called JPYC, which are fully convertible to the yen and backed by domestic savings and Japanese government bonds (JGBs), Reuters reported. The company plans to issue up to ¥10 trillion (US$66 billion) worth of JPYC over three years, with ambitions for the digital asset to gain international use. To encourage adoption, JPYC will initially waive transaction fees, instead earning revenue from interest on…

Insights from TransUnion’s H2 2025 Update to the Top Fraud Trends Report revealed that 2.7% of all attempted digital transactions involving consumers in Hong Kong were suspected to be fraudulent in the first half of 2025, below the global average of 3.8%. This marks an improvement from 3.8% in the same period last year, reflecting progress in Hong Kong’s fraud prevention efforts. Despite this decline, fraud continues to pose significant financial and operational challenges. A TransUnion business survey across six markets, including Hong Kong, Canada, India, the Philippines, the United Kingdom, and the US, found that 200 Hong Kong respondents…

OpenAI and Japan’s Digital Agency have announced a partnership to examine how GenAI can be used safely and effectively to improve public services in Japan. As part of the initiative, the Digital Agency will introduce Gennai, a new AI tool powered by OpenAI’s technology, for use by government employees to explore innovative public sector applications. OpenAI has also contributed to a pilot programme launched by the OECD and the G7 to monitor the Hiroshima AI Process, led by the Japanese government. The Hiroshima AI Process Comprehensive Policy Framework is the first international policy framework comprising guidelines and codes of conduct…

Under the guidance of the Bank of Thailand, Ant International, National ITMX, and Krungthai Bank are collaborating to strengthen cross-border payment connectivity between Thailand and China via PromptPay. Krungthai Bank will serve as the settlement bank for the initiative, which will enable Chinese travellers to make payments at Thai merchants by scanning PromptPay QR codes using Alipay, an Alipay+ e-wallet partner. PromptPay, introduced by the Bank of Thailand in 2016 and operated by National ITMX, is the country’s national payment infrastructure supporting transactions across multiple channels, including regional cross-border payments. Chatchai Dusadenoad, Managing Director of National ITMX, said: “The launch…

APP Fraud is a $331 billion global crisis exploiting instant payments and human trust. Learn how regulations and real-time account verification tools like LSEG’s Global Account Verification (GAV) can help businesses strengthen payment security across borders. APP Fraud could cost the global economy $331B by 2027, driven by scams exploiting instant payments and AI deception. Governments worldwide (UK, EU, US, Australia, Singapore) are enforcing stricter fraud liability, reimbursement, and verification rules. Real-time account verification tools like LSEG’s Global Account Verification reduce fraud risk, support compliance, and secure cross-border payments. APP Fraud: A $331 billion global crisis Authorised Push Payment (APP)…

The Hong Kong Securities and Futures Commission (SFC) has approved the first Solana (SOL) spot exchange-traded fund (ETF), making it the third cryptocurrency after Bitcoin (BTC) and Ethereum (ETH) to receive such approval. It is also the first SOL spot ETF in Asia, ahead of similar products in the US. According to the Hong Kong Stock Exchange, the ChinaAMC Solana ETF is managed by China Asset Management (Hong Kong) and will be available in RMB and USD counters. The ETF is expected to list on 27 October, with each board lot consisting of 100 units and a minimum investment of…

Invest Hong Kong (InvestHK) announced the 10th anniversary of the Hong Kong Fintech Week x StartmeupHK Festival 2025 (HKFW x SMUF) recently, which will be held from 3 November 2025 to 7 November 2025. The landmark joint celebration will mark a decade of innovation, bringing together two of the city’s flagship events to create an expanded platform spanning the full spectrum of technology, entrepreneurship, and business transformation. The collaboration reaffirms Hong Kong’s commitment to driving the digital economy, leveraging its position as a leading international financial centre and a vibrant start-up hub. As Hong Kong’s premier innovation-focused event, HKFW x…

Japan’s financial regulator is reportedly considering allowing members of banking groups to offer cryptocurrency trading services, in a bid to broaden market access and encourage competition, the Nikkei reported. The Financial Services Agency (FSA) is also said to be weighing the removal of a ban that currently prevents banks from purchasing and holding cryptocurrencies as investment assets. Under Japan’s Banking Act, subsidiaries of banking groups are not presently permitted to register with the regulator to provide crypto asset services. According to the Nikkei, the FSA plans to revise existing rules to enable securities subsidiaries within banking groups to offer such…

Tech companies from China have reportedly paused their plans to launch stablecoins in Hong Kong following directives from mainland regulators. These are said to include Ant Group and JD.com, Reuters reported, citing the Financial Times (FT). According to FT sources, companies have received instructions from Chinese regulators like the People’s Bank of China (PBOC) and the Cyberspace Administration of China (CAC) to halt their plans. The decision comes months after Hong Kong’s legislature passed a landmark bill, the Stablecoins Ordinance, establishing a licensing framework for fiat-referenced stablecoin issuers there. Under the new framework, any entity issuing stablecoins in Hong Kong,…

The Hong Kong Monetary Authority (HKMA), in collaboration with Hong Kong Cyberport Management Company Limited (Cyberport), announced on 15 October the second cohort of the Generative Artificial Intelligence (GenA.I.) Sandbox. Ant Digital Technologies has joined the programme as a technology partner. This cohort places emphasis on responsible AI governance, with use cases exploring “AI vs. AI” applications, using AI to perform automated quality checks on AI-generated outputs to enhance accuracy and consistency. In response to rising concerns around deepfake-related fraud, the Sandbox will also test advanced defence mechanisms. Through the GenA.I. Sandbox, Ant Digital Technologies will support several financial institutions…

Visa has announced that its Tap to Ride contactless payment service is now available on the Guangzhou Metro, offering inbound visitors to China a more convenient way to pay for travel. Guangzhou is the second city in the Greater Bay Area, after Hong Kong, to introduce the service, further improving cross-border transport convenience in the region. Travellers with Visa chip cards can now tap their cards directly at entry and exit gates marked with the Visa contactless symbol to access Guangzhou Metro stations. The feature provides a seamless payment option without the need to purchase separate metro tickets. Visa’s Tap…

YZi Labs (formerly Binance Labs) has led a US$50 million funding round in Better Payment Network (BPN), a payment network built to work with multiple stablecoins. The investment reflects YZi Labs’ interest in supporting new financial systems that use stablecoins, operate on fast blockchains, and combine traditional and decentralised approaches to balance speed, flexibility, and regulatory compliance. Many current fintech platforms require large sums of money to be held in local accounts in advance to make payments possible. BPN’s system allows stablecoins to be created, exchanged, and removed in real time across countries, reducing the need to lock up capital.…

PAObank, a member of Ping An Insurance, and OneConnect, an associate of Ping An, have been selected for the second cohort of the Hong Kong Monetary Authority’s (HKMA) Generative Artificial Intelligence (GenA.I.) Sandbox in partnership with Hong Kong Cyberport Management Company Limited. Their joint project, the “Anti-Fraud Strategy Platform,” uses advanced AI to strengthen the detection of deepfake-related fraud, enhance risk management, and support fraud investigations to improve customer protection. Within the HKMA’s sandbox environment, PAObank and OneConnect will continue refining the platform’s ability to identify deepfake technologies. Using AI-powered facial recognition, the system verifies user selfies in real time,…

The Hong Kong University of Science and Technology (HKUST), Hong Kong Investment Corporation Limited (HKIC), and Gobi Partners have launched a new fund focused on early-stage start-ups incubated at the university. The Gobi-Redbird Innovation Fund (Gobi-RIF) is intended to support university-developed technologies in reaching international markets, linking academic research with industry applications. As the second fund under the Redbird Innovation Fund (RIF) framework, Gobi-RIF targets four sectors: biotechnology, Industry 4.0, AI and robotics, and fintech. The fund combines HKUST’s research capabilities with Gobi Partners’ experience in venture capital across 16 locations in Asia. The initiative is backed by HKIC under…

Hong Kong Fintech Week 2025 will return from November 03 to 07, showcasing the city’s strengths as both a leading international financial center and a thriving startup hub. This year will mark a special 10th anniversary edition, jointly presented with the StartmeupHK Festival. The combined event is expected to attract over 37,000 executives, 800 speakers, and 700 exhibitors from more than 100 economies, uniting global leaders to share insights and explore the future of technology and finance. This year’s Hong Kong Fintech Week will provide a dynamic environment for collaboration, resource optimization, and business growth. It will explore how emerging…

HashKey Exchange is expanding its Southeast Asia footprint through a new partnership with Malaysia’s HATA, uniting two licensed digital asset platforms under one regional push. The MoU outlines plans to build a secure and transparent framework for digital asset services, leveraging both firms’ strengths in Hong Kong and Malaysia. The collaboration will focus on technology, regulations, user experience, and business model innovation to support the region’s growing digital finance ecosystem. Both exchanges will assess API connectivity and system integration to improve efficiency and market liquidity. They will also study regulatory frameworks in markets including Hong Kong and Malaysia to establish…