Auto Added by WPeMatico

Hong Kong Presents Digital Currency Prototype, Project Aurum

Financial authorities in Hong Kong have unveiled a prototype of the Chinese autonomous territory’s own central bank digital currency called Project Aurum. The two-tier platform features a wholesale interbank and…

Continue ReadingHong Kong Presents Digital Currency Prototype, Project Aurum

Hong Kong Mulls Letting Retail Investors Trade Crypto, Removing ‘Professional Investor-Only Requirement’

The director of licensing and head of the fintech unit of Hong Kong’s Securities and Futures Commission (SFC) has confirmed that the regulator is considering allowing retail investors to invest…

Continue ReadingHong Kong Mulls Letting Retail Investors Trade Crypto, Removing ‘Professional Investor-Only Requirement’

Report: Paypal HK Halts Hong Kong Pro-Democracy Group’s Payments Over ‘Excessive Risks’

According to a report from a pro-democracy group in Hong Kong, Paypal HK has reportedly stopped processing payments for the League of Social Democrats (LSD). The pro-democracy group said that…

Continue ReadingReport: Paypal HK Halts Hong Kong Pro-Democracy Group’s Payments Over ‘Excessive Risks’

China, Hong Kong, Thailand, and UAE Trial Cross-Border Transactions With Digital Currencies

The monetary authorities of four jurisdictions in Asia have carried out tests with international settlements using state-issued digital currencies. Cross-border payments and foreign exchange transactions totaling over $22 million were…

Continue ReadingChina, Hong Kong, Thailand, and UAE Trial Cross-Border Transactions With Digital Currencies

Hong Kong Protects Local Currency in Forex Market Amid Capital Flight to US Dollar

Following the Bank of England explaining that it would be meddling in U.K. bond markets and the Bank of Japan defending the yen in the foreign exchange market last week,…

Continue ReadingHong Kong Protects Local Currency in Forex Market Amid Capital Flight to US Dollar

BIS marks CBDC pilot as ‘successful’ with $22M transacted

Over $12 million in value was issued in the pilot with commercial and central banks in Hong Kong, Thailand, the UAE and China taking part.

Continue ReadingBIS marks CBDC pilot as ‘successful’ with $22M transacted