Hong Kong Insurance Firm AIA Joins R3 Blockchain Consortium

Hong Kong Insurance Firm AIA Joins R3 Blockchain Consortium

New York-based R3, the blockchain startup heading the prominent private banking blockchain consortium has now added Hong Kong-based life insurance group AIA. Blockchain startup R3 is continuing its foray to recruit Asian financial institutions with the addition of AIA Group, a Hong Kong-based life insurance group to its roster of global members. The AIA Group, the largest publicly listed independent pan-Asian life insurance group will collaborate with 50 of the world’s largest financial institutions, including banks, to develop blockchain-based commercial applications for the financial....


Related News

Hong Kong Company Onedegree to Offer Insurance for Cryptocurrencies

Onedegree, a virtual insurer based in Hong Kong, will provide insurance services for digital assets as part of a partnership with a local cryptocurrency exchange. By working together, the two firms hope to alleviate concerns discouraging potential investors from entering the crypto market. Onedegree to Underwrite Insurance Policies for Crypto Assets Hong Kong has several licensed providers of virtual insurance services and one of them, Onedegree, will now offer up to $100 million in coverage to Hkbitex, a crypto trading platform operating in the global financial hub. The two companies....

R3 Adds Life Insurance Firm AIA to Blockchain Consortium

Blockchain startup R3CEV has added Hong Kong-based life insurance group AIA to the ranks of its global banking consortium. The announcement comes at a time when R3 is increasing its presence in Asia as well as diversifying its portfolio of participating financial institutions, having added China-based Ping An Insurance Group to its consortium in late May. In statements, R3 CEO David Rutter echoed this sentiment in remarks, seeking to position the move as one that adds new stakeholders to its conversation. In addition to creating in-house technologies, such as the smart contract distributed....

The Sandbox Partners With a Myriad of Hong Kong Luminaries, Plans to Launch M...

The Animoca Brands subsidiary and blockchain-based virtual world, The Sandbox, has announced the firm has made multiple partnerships in Hong Kong, and has plans to create a “Mega City” in the metaverse. Partners who acquired land in The Sandbox to build Mega City include Hong Kong tycoon Adrian Cheng, professional services firm PWC Hong Kong, and the Hong Kong actress and model Shu Qi. The Sandbox Announces Mega City Launch Blockchain projects like Decentraland and The Sandbox have been seeing significant demand as Web3, NFTs, and metaverse hype has grown exponentially in....

Hong Kong Financial Markets Authority Joins R3 to Test Blockchain Transactions

The Securities and Futures Commission, an independent statutory authority that regulates the securities and futures markets in one of the world’s major financial hubs in Hong Kong is joining the R3-led financial blockchain consortium. According to a report in the Wall Street Journal, the Hong Kong regulator is working with R3’s numerous members that includes banks and technology developers to test blockchain ledgers to record and settle securities and futures transactions. The collaboration is yet another example wherein banks and regulators are coming together to push blockchain....

Hong Kong Looking Seriously at Blockchain for Mortgage Solutions

Hong Kong is one of the most important financial centres of the world, but with limited space and high demand, property in Hong Kong has always been in short supply. Simplifying home ownership in Hong Kong is therefore a prime concern for the Hong Kong government, which has undertaken a number of measures in the last few years to make home ownership both affordable and easy. The Nikkei Asian Review reported that as recently as early November, the Hong Kong government raised stamp duty to cool down the boiling Hong Kong housing market. This measure of the government was mainly aimed at....