HSBC has officially named its forthcoming Hong Kong stablecoin HSBC RedCoin. It is one of the most significant moves by a traditional bank into the digital asset space in Asia. The name reflects the bank’s Hong Kong heritage. The launch strategy is deliberately phased. It starts with person-to-person and person-to-merchant
Hong Kong is expected to roll out the wholesale CBDC settlement after banking hours by 2026. This plan will utilize the EnsembleTX, which will be used to facilitate continuous settlement for tokenized deposits. EnsembleTX makes up the pilot stage for Project Ensemble, which is the tokenization project for Hong Kong.
Financial regulators are already planning cybersecurity strategies to protect banks from future risks posed by quantum computing. The Hong Kong Monetary Authority (HKMA) has revealed substantial gaps in preparedness among the Hong Kong banking sector by developing the first Quantum Preparedness Index (QPI). The HKMA gave Hong Kong banks a
The Hong Kong government has not issued any HKD stablecoin licenses, despite earlier commitments to begin the approval process in March this year. The HKMA is still reviewing the applications and has not announced any approvals. Also, stretching the deadline beyond the earlier stated timeframe by the officials. The officials,
Boyaa Interactive International, a Web3 gaming company based in Hong Kong, asks for shareholder approval to invest up to $70 million in cryptos in order to increase its digital asset treasury and accelerate its drive into blockchain-based gaming in the face of continuous market volatility. According to the official statement,
Hong Kong and Shanghai trade authorities have agreed to leverage the use of blockchain technology in order to record cargo data in a bid to modernize cross-border logistics. The move is aimed at increasing transparency in the logistics industry, thereby reducing paperwork among traders in the two cities. According to
Hong Kong-based stablecoin payments firm RedotPay is reportedly preparing for a potential US initial public offering that could raise more than $1 billion. Sources familiar with the matter told Bloomberg that the listing could value the company at over $4 billion. RedotPay is working with JPMorgan Chase, Goldman Sachs, and
Hong Kong’s Securities and Futures Commission (SFC) has approved a license to a cryptocurrency trading platform for Victory Fintech, which is a publicly listed financial service company. Since June 2025, this was the first license issued by SFC, with a total of 12 licensed crypto trading platforms in Hong Kong.
Charles Hoskinson, the founder of a leading blockchain and research company, Input Output Global, publicised on February 12 that Midnight, the highly anticipated privacy-focused blockchain of the company, will officially roll out in the last week of March. The announcement came amid the keynote speech of Hoskinson at Consensus Hong
The central bank of Malaysia has planned to roll out three actions in 2026 that comprise local currency stablecoins and tokenised deposits. The February 11 announcement noted that the Bank Negara Malaysia (BNM) revealed the Digital Asset Innovation Hub (DAIH) is taking three projects onboard for this year. The projects
