Hong Kong’s crypto competitiveness challenge

The US Securities and Exchange Commission (SEC) approved rule changes on May 23 that paves the way for spot Ether ETFs, in a development which reflects expanding institutional acceptance and regulatory clarity for the world’s second-largest cryptocurrency after Bitcoin. While the move is expected to lift crypto demand, the endorsement’s timing came as a surprise, … Read more

Blockchain interoperability steps up in Asia

As asset tokenisation gains traction due to its potential higher transaction efficiency and security, the market is expected to unlock an estimated $16 trillion in value by 2030, according to an estimation by Boston Consulting Group and ADDX last year. Tokenisation refers to the process where the rights to a given asset are duplicated and … Read more

Bhutan launches Asia’s first full reserve bank

ORO Bank launched its minimum viable product (MVP) on May 24 as the official bank of Bhutan’s Gelephu Mindfulness City. The city is a Special Administrative Region planned in the southern part of the kingdom that emphasises equitable economic growth, cultural preservation, environmental sustainability and good governance – values listed out in the south Asian … Read more

Hong Kong Monetary Authority steps up e-CNY pilot

The Hong Kong Monetary Authority (HKMA) and the People’s Bank of China (PBoC) have expanded the scope of a e-CNY pilot in Hong Kong to allow residents to use e-CNY wallets by Hong Kong residents, as well as the top-up of e-CNY wallets through the Faster Payment System (FPS).    The interoperability between the FPS … Read more