Track your investments for FREE with Simply Wall St, the portfolio command center trusted by over 7 million individual investors worldwide. HSBC (LSE:HSBA) and Standard Chartered received stablecoin licenses from the Hong Kong Monetary Authority, marking a first for banks in the territory. The central bank has warned about a rise in fake stablecoins trading…
Gold bars, cruises, Dior beauty services and Rosewood Hong Kong vouchers are just some of the incentives Hong Kong’s major lenders are offering in hopes of capturing wealthy clients, as visitors from mainland China descend on the city during the golden week holiday starting on Friday. HSBC, Standard Chartered and Bank of China (Hong Kong)…
Hong Kong’s monetary authority has held its base interest rate steady, following the lead of the US Federal Reserve, as analysts said the inflationary impact of the US-Israel war with Iran had reduced the chances of a rate cut this year. The city’s base rate would stay at 4 per cent, the Hong Kong Monetary…
The most revealing fact about Hong Kong’s stablecoin launch is not that licences were issued. It is who got them, and who did not. By handing the first approvals to HSBC and the Standard Chartered-led joint venture Anchorpoint Financial, regulators made clear from the start that digital money in Hong Kong will be bank-led. That…
For Hong Kong’s 3.3 million PayMe users, everyday transactions such as buying coffee or splitting bills with friends could soon involve stablecoins, with HSBC preparing to introduce the digital currency in the second half of this year. That comes after HSBC Holdings, together with a Standard Chartered-led joint venture, became the first to obtain a…
The Hong Kong Monetary Authority (HKMA) is being urged to go further in loosening restrictions on stablecoins, after granting the city’s first two licences to banks to issue the digital currency. “It came as a surprise that only two licences were issued, and both to traditional banks,” said Kenny Ng Lai-yin, a strategist at Everbright…
Hong Kong’s monetary authority kept its base rate unchanged after a similar move by the US Federal Reserve, as analysts said that the Middle East conflict has added to the uncertainty over the pace of rate cuts this year. The Hong Kong Monetary Authority (HKMA) maintained the city’s base rate at 4 per cent on…
HSBC and a joint venture led by Standard Chartered are expected to be among the first companies to obtain Hong Kong’s stablecoin licences within two weeks, according to people familiar with the matter. The number of licences and timetable had yet to be finalised and remained subject to change, but sources said a possible date…
HSBC Holdings is phasing out its remote-work flexibility as it tightens its post-pandemic policy in Hong Kong, requiring frontline employees to be in the office or meet clients five days a week. In an internal memo seen by the South China Morning Post, the city’s largest bank asked client-facing staff, including traders and salespeople, to…
Standard Chartered Bank, one of Hong Kong’s three note-issuing banks, reported a 16 per cent profit jump for 2025, as strong wealth management growth helped it weather rising bad debt from the city’s commercial real estate slump. The London-based bank, which generates much of its revenue from Asia, reported an underlying pre-tax profit of US$7.9…