Hi fintech friends,
Welcome to This Week in Fintech - China! Here’s a Quick Look at the latest news, from our dear friend Stablecoins to the recent new partnerships and product Launches shaping the fintech Landscape.
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The Coin Related
Hong Kong’s stablecoin law has drawn strong attention from the mainland, with Citic Securities anticipating a tokenisation boom.
JD.com Stablecoin has entered the second phase of sandbox testing and will launch application products for retail, payments and institutions soon.
BVNK and LianLian Global have partnered to offer stablecoin-powered cross-border payments.
Product & Partnership Launches
XTransfer has announced plans to open its European HQ in Amsterdam.
OCBC has partnered with Ant International to offer embedded finance in Indonesia.
Tiger Brokers plans to double its Hong Kong headcount as it targets offshore China wealth.
Ant International has launched the Alipay+ GenAI Cockpit for merchants.
Bolt has partnered with Airwallex to build a new global payments system for drivers.
Other News
Citi has appointed Wenjie Zhang as its new country officer and banking head for China.
PwC is experiencing Hong Kong partner exits following the Evergrande audit Scandal.
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