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With that done, let’s dive into the latest headlines.
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The Coin Related
As Hong Kong rolls out its "LEAP" framework—introducing a licensing regime for stablecoin issuers and accelerating tokenization of real-world assets—Beijing is reportedly considering the city as a test bed for yuan-linked stablecoins. This does leave us wonder: How will this Hong Kong–Beijing dynamic rewrite the rules for China’s digital currency ambitions? If you have thoughts to share, drop us a note—we’d love to hear your take!
Moving onto more news about China's digital assets.
Hong Kong BGE Limited secured its license as a virtual asset trading platform, becoming the city’s 4th company to obtain a license this year.
Guotai Junan International, a leading Chinese securities firm, became the first mainland Chinese firm approved to offer crypto trading services in Hong Kong.
Bitget secured a digital asset license in Georgia.
Product & Partnership Launches
Balance and Alibaba.com announced a partnership to bring B2B buy now, pay later (BNPL) and flexible payment options to US buyers purchasing from Chinese suppliers.
PingPong Payments partnered with Form3 to implement Verification of Payee (VoP) for SEPA account validation five months ahead of the EU deadline.
Hong Kong and China mainland launched Payment Connect to speed up cross-border payments between the two regions.
Licensing & Regulations
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