Source: South China Morning Post
Hi fintech friends,
HashKey Group went public yesterday—an important marker for Hong Kong’s regulated digital-asset push. It priced near the top of its range and raised about $206 million; shares opened soft and closed slightly down. The takeaway isn’t momentum but validation: cornerstone institutions, including UBS and Fidelity, backed a compliance-first model while the market stays risk-off near term.
With that, let’s move on to other happenings in China. If I don’t “see” you next week, have a wonderful Christmas.
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Financing & Acquisition
Airwallex will invest $590 million in its UK operations through 2030, boosting headcount by 60% and launching credit cards, recurring billing SaaS, and Spend AI to drive EMEA expansion.
RedotPay raised $107 million in Series B led by Goodwater Capital, following its September round, to fund acquisitions, licensing, and global hiring for stablecoin payment growth.
HSBC moved forward on fully privatizingHang Seng Bank via a scheme of arrangement.
Product & Partnership Launches
Sunratelaunched a Walmart Marketplace seller payout tool, letting international sellers collect directly into Sunrate accounts with FX and risk protection across 130+ currencies.sun
Standard Chartered rolled out tokenized deposits on Ant International’s Whale platform for real‑time HKD/CNH/USD treasury transfers.
Bitget opened a private beta for Bitget TradFi, offering USDT‑margined CFDs on forex, gold, commodities, indices, and stocks with up to 500x leverage under Mauritius regulation.
Tencent Cloud partnered with Thailand’s Bitkub to provide cloud, database, and AI infrastructure for digital asset services, focusing on compliance, risk control, and app stability.
Circle and LianLian Global signed an MOU to explore stablecoin‑powered cross‑border payments.
Licensing & Regulations
China's Shopify equivalent SHOPLINEreceived Singapore’s Major Payment Institution license (MPI).
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