Eric Trump, the American president’s second son, has been called “the top diplomat of the bitcoin nation”. Last month his mission took him to the People’s Republic of China, where he spoke in Hong Kong at Bitcoin Asia, a conference dedicated to the original cryptocurrency. What is it trading at today, he asked, while on…
Yunfeng Financial Group, backed by Alibaba Group Holding founder Jack Ma, said it was investing in the cryptocurrency ether as part of its reserve assets, as the company expands into Web3 amid Hong Kong’s digital asset initiative. To date, Hong Kong-listed Yunfeng has invested US$44 million to acquire 10,000 ether for its “strategic reserve”, according…
The $280 billion market for fiat backed digital tokens is expected to receive an institutional boost after Hong Kong’s Stablecoin Bill went into effect last month. Now enacted, Hong Kong has become one of the first jurisdictions in the world to adopt dedicated stablecoin legislation, taking place more than a year after local regulators…
Leather goods manufacturer China International Development Corporation (CIDC) has invested HK$100 million (US$13.9 million) to acquire a 20 per cent stake in Hong Kong-based asset tokenisation start-up NVT, signalling growing enthusiasm for digital assets in the city. The partnership would allow CIDC to use NVT’s tokenisation infrastructure, positioning itself as a “global first mover” in…
Hong Kong dollar stablecoins could become a key link between China’s digital yuan and top global digital assets, potentially transforming cross-border investment and accelerating yuan internationalisation, according to Morgan Stanley. Local currency-backed stablecoins could provide a pathway for mainland China’s e-CNY – the country’s only legal digital currency backed by the government – to gain…
Hong Kong-based OSL Group, the city’s first listed and licensed virtual-asset trading platform, sees optimism rise in the local market as the stablecoin law comes into effect this Friday. That assessment was made by Gary Tiu, executive director and head of regulatory affairs at OSL, at a symposium on Thursday about Hong Kong’s stablecoin era….
Hong Kong customs officers have arrested two men who allegedly smuggled cash out of the city and made suspicious transactions, including with a popular stablecoin, to launder HK$1.15 billion (US$146.5 million). A Customs and Excise Department spokesman said on Tuesday that an investigation into the pair found they had smuggled cash out of the city….
Moving out of poverty and achieving financial success is a core tenet of the American Dream—but has become increasingly difficult to achieve. A group of billionaires wants to reverse that trend. The charitable foundations of Bill Gates, Charles Koch, Steve Ballmer, Intuit founder Scott Cook and hedge fund investor John Overdeck pledged more than $1…
Eric Trump, the second-born son of US President Donald Trump, will attend next month’s Bitcoin Asia 2025 conference in Hong Kong as a headline speaker, as the city strives to position itself as a leading hub for digital assets, competing with the US. Trump would discuss bitcoin’s “long-term potential” and its impact on global finance,…
Hong Kong’s stablecoin licensing regime, set to begin on August 1, is drawing significant interest from the region’s financial and tech heavyweights, with local media in China reporting that over 40 applications have been received. But expectations are being tempered by the reality that the Hong Kong Monetary Authority (HKMA) is likely to approve only…