Shares of HashKey Holdings, operator of Hong Kong’s largest licensed cryptocurrency exchange, fluctuated on their trading debut, as investors shunned risk amid a downturn in both equity and digital asset markets. Trading under the stock code 3887, HashKey shares first changed hands on Wednesday at HK$6.70, or 0.3 per cent above the offer price of…
Crypto exchange operator HashKey Holdings has cleared its Hong Kong listing hearing after an earlier confidential filing, paving the way for a deal that will test investor confidence in the digital asset sector amid evolving regulation. The operator of Hong Kong’s biggest licensed crypto exchange could raise around US$500 million in a listing this month,…
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. China’s financial watchdog just threw cold water on Hong Kong’s red-hot tokenization boom, quietly advising major brokerages to pump the brakes on their real-world asset business. The move sent Hong Kong stocks tumbling and exposed the delicate dance…
Three in five multinational companies expect costs to rise due to ongoing geopolitical uncertainties, which is spurring their adoption of artificial intelligence and smart manufacturing to offset financial pressure, according to a Standard Chartered survey on Wednesday. About 62 per cent of top executives surveyed predicted cost increases of 5 to 14 per cent in…
A growing number of Hong Kong-listed firms are snapping up cryptocurrency on the back of rising bitcoin prices and the popularity of digital asset treasury (DAT) companies in the US. Investment bank China Renaissance, which helped fund many leading Chinese tech firms, and Yunfeng Financial Group, backed by Alibaba Group Holding founder Jack Ma, are…
Bitcoin Asia kicked off in Hong Kong on Thursday, as Hong Kong strives to balance its goal of becoming a crypto hub while pushing forward a regulatory regime to mitigate financial risks. In its second edition, the conference featured experts who said that Hong Kong could become a hub for shaping the global digital asset…
By Ateev Bhandari, Atharva Singh and Hannah Lang (Reuters) -Cryptocurrency exchange operator Bullish was valued at about $13.16 billion after its shares more than doubled in their NYSE debut on Wednesday, underscoring investor confidence in the sector and lifting prospects for future U.S. listings by other digital asset firms. The parent of crypto news website…
Hong Kong’s stablecoins ordinance, which took effect on Friday, puts cryptocurrency’s most-traded cash substitute under the same regulatory framework as banks, triggering a rush for a limited number of licences from the Hong Kong Monetary Authority (HKMA). Some market observers were caught by surprise after learning that the first batch of stablecoin licences was only…
The Hong Kong Monetary Authority (HKMA) is likely to issue the first batch of stablecoin licences early next year, as the city’s de-facto central bank urged potential issuers to submit their applications by the end of September. Ahead of the stablecoin ordinance taking effect on August 1, the HKMA unveiled on Tuesday licensing procedures and…
Hong Kong lawmakers passed a law on Wednesday that establishes a regulatory regime for stablecoins, paving the way for issuers to obtain licences and sell the digital assets to the public. A stablecoin is a type of cryptocurrency that is pegged to a specific reserve asset, such as the US dollar or any fiat currency….