Ant Group, China’s largest internet finance company, has filed to register the ANTCOIN trademark in Hong Kong, covering digital wallets, online payments, and stablecoin services. This strategic move signals the fintech giant’s positioning in Hong Kong’s growing virtual asset sector despite recent regulatory challenges from Beijing that have temporarily stalled its stablecoin ambitions.
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Hong Kong Approves First Spot Solana ETF
Hong Kong has approved its first spot Solana ETF, becoming the latest jurisdiction to embrace cryptocurrency investment products. The approval positions Hong Kong ahead of the United States in crypto ETF adoption while expanding its digital asset offerings beyond Bitcoin and Ethereum.
read moreAnt Group Denies Rare Earth-Backed RMB Stablecoin Rumors
Chinese tech giant Ant Group has refuted claims that it is developing a rare earth-backed RMB stablecoin in partnership with the People’s Bank of China (PBoC). The company warned investors against misleading reports, clarifying it has no such plans. Despite China’s domestic crypto ban, firms like Ant Group and JD.com are exploring stablecoin technology for international use, particularly under Hong Kong’s regulatory framework. Ant is also integrating USDC into its blockchain platform, while JD.com seeks stablecoin licenses for cross-border payments. Chinese regulators have cautioned brokerages against promoting stablecoins to prevent renewed domestic crypto interest.
read moreShenzhen Warns of Stablecoin Scams as Hong Kong Prepares New Rules
Shenzhen officials have alerted the public to an increase in scams tied to stablecoins, warning of illegal fundraising, fraud, and money laundering. This follows a similar warning from JD.com about fake stablecoin promotions. In contrast, neighboring Hong Kong is preparing to launch a regulatory framework for stablecoins on August 1, allowing only licensed firms to issue fiat-referenced tokens. Financial Secretary Paul Chan highlighted stablecoins’ potential in cross-border payments, while experts note Hong Kong’s progressive stance compared to other jurisdictions. Despite China’s crypto bans, scams remain prevalent, with organized crime groups exploiting victims domestically and abroad.
read moreHong Kong’s New Stablecoin Rules: Impact & Analysis
Hong Kong will enforce a new licensing regime for fiat-referenced stablecoin issuers starting August 1, requiring strict compliance on reserves, redemption, and AML controls. The move, backed by Beijing, supports RMB internationalization and de-dollarization but imposes capital requirements three times higher than Singapore’s, potentially favoring local players over global giants like Circle and Tether. While cross-border business use holds promise, analysts note stablecoins may not yet undercut traditional payment providers like Wise due to liquidity constraints. The regulation mandates Hong Kong-based reserves, limiting direct issuance by offshore firms but encouraging partnerships for professional usage.
read moreHong Kong Launches First Crypto ETFs in Asia, Competes with US
Hong Kong has launched its first crypto ETFs, marking a significant milestone in Asia’s investment landscape. The ETFs, issued by three companies, offer spot Bitcoin and Ethereum trading, with Hong Kong opting for an in-kind subscription and redemption mechanism. This move puts Hong Kong in direct competition with the US, with differing ETF structures and management fees, while also signaling the region’s potential to attract investors from both the East and West.
read moreHong Kong’s Debut Bitcoin and Ethereum ETFs Fall Short of Expectations
Hong Kong’s debut of Bitcoin and Ethereum exchange-traded funds (ETFs) fell short of expectations, with modest trading volumes totaling $12 million, compared to the anticipated $100 million. Despite this, market stakeholders anticipate a significant impact, as these ETFs target international investors and aim to expand the investor base, augment liquidity, and bolster market stability. Gabor Gurbacs, founder of PointsVille, highlighted the East-West Bitcoin ETF competition, emphasizing China’s determination to compete in institutional Bitcoin capabilities.
read moreHong Kong’s Stock Market Rebounds, Attracts Global Investors Amid China’s Economic Recovery
Hong Kong’s stock market has rebounded, with the Hang Seng Index surging over 7% in April and heading into a bull market. This turnaround follows years of heavy losses, driven by improving economic conditions in China, foreign inflows, and a focus on the country’s property market. Mainland Chinese investors are also diversifying into Hong Kong-listed stocks to protect against RMB depreciation, with strong southbound investment flows.
read moreHong Kong to Launch Innovative Bitcoin and Ethereum ETFs Tomorrow
Hong Kong is set to launch new Bitcoin and Ethereum ETFs with unique features, aiming to surpass the U.S. in trading volume. These ETFs will offer in-kind redemptions, handle transactions in multiple currencies, and enable wallet-to-wallet transfers, while mainland Chinese investors are currently excluded from participation. The robust regulatory framework in Hong Kong supports these initiatives, setting a new benchmark in the cryptocurrency ETF domain.
read moreChinese Asset Managers Prepare to Launch Bitcoin and Ethereum ETFs
Major Chinese asset managers are preparing to launch spot Bitcoin and Ethereum exchange-traded funds (ETFs) in Hong Kong, pending approval from the Securities and Futures Commission (SFC). The potential approval of Hong Kong spot Bitcoin ETFs could unlock up to $25 billion in demand from mainland China, with the Southbound Stock Connect program facilitating access for qualified Chinese investors. The move follows the recent application by prominent Chinese asset managers for spot Bitcoin ETFs through their Hong Kong subsidiaries, signaling Hong Kong’s emergence as a hub for crypto ETFs.
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