Hong Kong’s largest cryptocurrency exchange, HashKey, has achieved a landmark status by becoming the first publicly traded digital asset company in Asia to list via an initial public offering (IPO) on the Stock Exchange of Hong Kong (HKEX). The $206 million offering, which was oversubscribed, culminated in a volatile first trading day for HashKey Holdings, opening at HK$6.70 ($0.86) per share. This event signals a pivotal moment of convergence between the cryptocurrency sector and traditional, regulated financial markets in the region.
about HashKey Debuts on HKEX After $206M Oversubscribed IPOHong Kong Dollar
0 posts last weekCrypto Giants Pledge HK$57M for Hong Kong Fire Relief
Leading cryptocurrency companies including Binance and HashKey have committed HK$57 million ($7.3 million) in emergency aid following Hong Kong’s deadliest residential fire in over a decade. The coordinated response from multiple crypto giants aims to support rescue operations and assist affected families in the Tai Po district, marking another significant humanitarian effort from the crypto sector during global emergencies.
about Crypto Giants Pledge HK$57M for Hong Kong Fire ReliefHong Kong Considers CBDC Stablecoin for Web3 Growth
Hong Kong is considering a groundbreaking approach to central bank digital currency by developing a government-backed stablecoin version of the digital Hong Kong dollar. Legislative Council member Wu Jiezhuang has proposed linking the e-HKD to decentralized finance networks as part of a comprehensive strategy to position the city as a global Web3 hub while addressing the risks that have plagued private stablecoin projects. This initiative represents a significant convergence of traditional financial regulation with blockchain innovation, potentially creating a secure foundation for virtual asset trading.
about Hong Kong Considers CBDC Stablecoin for Web3 GrowthAnt Group to Integrate USDC Stablecoin for Global Payments
Ant Group, the Chinese payments giant behind Alipay, is set to adopt Circle’s USDC stablecoin on its blockchain platform, Bloomberg reports. With 1.6 billion users, Alipay is the world’s largest mobile payments platform. The integration timeline depends on USDC achieving full compliance in the U.S. following the GENIUS Act’s passage. Ant is also considering launching its own stablecoins, including a Hong Kong dollar-backed version, pending regulatory approvals. The firm’s initial focus will be on improving global payments efficiency rather than crypto transactions. Meanwhile, Circle’s valuation has surged to $46 billion after the GENIUS Act’s approval, marking a significant milestone for stablecoins in the U.S.
about Ant Group to Integrate USDC Stablecoin for Global PaymentsJD.com Launches Stablecoin to Cut Cross-Border Costs by 90%
JD.com is rolling out a Hong Kong dollar-backed stablecoin by 2025, aiming to reduce cross-border payment fees by 90% and cut settlement times to under 10 seconds. Leveraging its blockchain infrastructure, Zhizhen Chain, the company plans to expand to other global currencies and integrate the tech into its platform for 600 million users. Meanwhile, Hong Kong’s new Stablecoin Ordinance and the U.S. GENIUS Act highlight growing regulatory clarity, with the stablecoin market projected to hit $1 trillion by 2030.
about JD.com Launches Stablecoin to Cut Cross-Border Costs by 90%Hong Kong Passes Landmark Stablecoin Regulation Bill
Hong Kong’s Legislative Council has passed a landmark bill to regulate fiat-backed stablecoins, with the law expected to take effect by the end of 2025. The new framework, overseen by the Hong Kong Monetary Authority (HKMA), introduces a licensing regime requiring issuers to meet stringent standards, including asset segregation, redemption guarantees, and compliance with anti-money laundering laws. The move aims to boost confidence in the city’s virtual asset ecosystem while positioning Hong Kong as a leader in Web3 development. Only licensed entities will be permitted to issue or promote stablecoins tied to the Hong Kong dollar, regardless of their location. Officials emphasize that the law aligns with global regulatory standards and will foster long-term industry growth.
about Hong Kong Passes Landmark Stablecoin Regulation BillAnimoca Brands Reports 12 Percent Revenue Growth and Cost Reductions in 2024
Animoca Brands reported $314 million in bookings for 2024, a 12% increase from the previous year, driven by significant growth in its Digital Asset Advisory business, which saw a 116% rise. The company also reduced operating expenses by 12% to $217 million, leveraging optimization initiatives and AI tools. Co-founder Yat Siu highlighted ongoing innovation and a focus on new growth areas, anticipating continued expansion through 2025 despite potential economic risks.
about Animoca Brands Reports 12 Percent Revenue Growth and Cost Reductions in 2024Hong Kong’s 50 Richest 2025 Wealth Growth Amid Property Challenges
Hong Kong’s 50 richest saw their collective net worth rise to $301 billion in 2025, driven by a stock market rally despite ongoing property market challenges. Li Ka-shing retained the top spot with $37.3 billion, while newcomers Francis Lui and Yang Qiumei joined the list amid significant shifts in wealth among established tycoons. The cutoff for inclusion increased to $1.4 billion, reflecting the evolving economic landscape.
about Hong Kong's 50 Richest 2025 Wealth Growth Amid Property ChallengesCryptocurrency Markets Plunge as Bitcoin Falls Below Ninety Thousand Dollars
Bitcoin fell below $90,000 for the first time since November, dropping to around $86,000 amid renewed geopolitical risks and investor concerns over President Trump’s trade policies. Other cryptocurrencies, including Ether and XRP, also experienced significant declines. Meanwhile, the Hang Seng Tech Index showed volatility as mainland investors increased their stakes in Chinese tech, despite fears of tighter scrutiny on US-listed Chinese companies.
about Cryptocurrency Markets Plunge as Bitcoin Falls Below Ninety Thousand DollarsMarket Volatility as Tariff Concerns Weigh on Tech and Crypto Stocks
Hong Kong stocks saw a significant influx of investment, totaling HK$8.9 billion, as mainland investors capitalized on opportunities amid geopolitical tensions stemming from President Trump’s renewed tariff threats and investment restrictions with China. Meanwhile, Bitcoin fell below $90,000, marking its lowest level since November, influenced by Trump’s policies and recent industry setbacks, while Chinese tech stocks experienced volatility but ultimately rebounded as investors focused on AI growth potential.
about Market Volatility as Tariff Concerns Weigh on Tech and Crypto StocksStandard Chartered and Partners Launch Hong Kong Dollar Pegged Stablecoin Initiative
Standard Chartered Bank Hong Kong, Animoca Brands, and HKT have formed a joint venture to issue a Hong Kong dollar-backed stablecoin, aiming to enhance financial market development and payments while complying with the HKMA’s regulatory framework. This initiative supports Hong Kong’s goal of becoming a global digital assets hub and includes plans to explore Bitcoin as a strategic asset for fiscal reserves, potentially attracting talent and boosting the local crypto industry.
about Standard Chartered and Partners Launch Hong Kong Dollar Pegged Stablecoin InitiativeUS stocks mixed as tariffs and Fed minutes influence market sentiment
U.S. stocks showed mixed results as investors reacted to President Trump’s proposed 25% tariffs on autos, semiconductors, and pharmaceuticals, while awaiting insights from the Federal Reserve’s January meeting minutes. The S&P 500 edged up slightly, maintaining its recent record high, while the Dow fell 0.3%. In Asia, markets fluctuated amid concerns over the impact of tariffs and a significant rally in Chinese stocks, driven by government support for the tech sector.
about US stocks mixed as tariffs and Fed minutes influence market sentiment