Hong Kong’s Top Virtual Bank to Offer Reserve Services to Crypto Stablecoin I...
The largest virtual bank in Hong Kong, ZA Bank, broke new ground earlier today by offering exclusive reserve bank services to stablecoin issuers, a move in line with Hong Kong’s recent regulatory advancements in cryptocurrency. This initiative is part of the territory’s new stablecoin licensing regime, which requires crypto stablecoin operators to deposit reserve assets […]
Related News
SEBA Bank, a Switzerland-based crypto-focused bank, has secured an in-principal license to offer crypto services in Hong Kong. SEBA’s Hong Kong unit announced this achievement on August 30. The Securities and Futures Commission (SFC) license allows the bank to offer over-the-counter crypto derivatives and other products in Hong Kong. Also, SEBA Hong Kong said it […]
Hong Kong’s plan to restrict cryptocurrency investment to professionals means retail investors could move to unlicensed venues, said Global Digital Finance.
Hong Kong’s Treasury Secretary says the government is right to pursue restrictive crypto regulations in the city. Christopher Hui, Hong Kong’s Secretary for Financial Services and the Treasury has defended the recent proposal by the city’s Financial Services and the Treasury Bureau to ban retail crypto trading.In a speech delivered at StartmeupHK virtual fintech summit on Thursday, Hui said that the proposal was in line with the government’s plan to properly police the emerging crypto market.As previously reported by Cointelegraph, the FSTB issued a proposal after months of consultation,....
Zodia Custody, a crypto-security firm owned by multinational bank Standard Chartered, has set its sights on the Asia-Pacific region, beginning with a launch in Hong Kong. This development, according to CNBC, marks a significant extension for the firm. CEO Julian Sawyer points out that Hong Kong presents an environment where institutional demand for crypto services prevails […]
Hong Kong’s central bank is inviting global stablecoin operators to respond to its proposed rules. Hong Kong’s central bank, the Hong Kong Monetary Authority (HKMA), wants to supervise stablecoin issuance and reserves management.HKMA published a discussion paper on Jan. 12 regarding cryptocurrencies and stablecoins, in which it provided its views on how the industry should be regulated in Hong Kong.In the 34-page long consultation document, the HKMA paid special attention to “payment-related stablecoins,” pointing out that the market capitalization of all stablecoins hit $150 billion in....