Hi fintech friends,
Here’s a quick pulse from Asia’s fintech front—licenses, partnerships, and products.
The Coin Related
Hong Kong proposed issuing RMB-backed stablecoins to boost fintech.
HashKey Group confidentially filed for Hong Kong IPO.
YZi Labs led a US$50M round for BPN, a BNB Chain multi‑stablecoin network.
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Licensing & Regulations
Chinese Shopify-equivalent SHOPLINE received In-Principle Approval for Payment License from the Monetary Authority of Singapore (MAS).
Hong Kong fintech Reap has received a major payment institution (MPI) license from the Monetary Authority of Singapore (MAS).
China is investigatingByteDance’s Douyin Pay for allegedly violating rules by opening payment accounts for financial institutions.
Product & Partnership Launches
Bitget Wallet launches an APAC crypto card for USDT/USDC spending via Mastercard/Visa.
RedotPay adds “Send Crypto, Receive MXN” via Circle, slashing Mexico remittance fees.
HashKey Exchangepartnered with Malaysia’s HATA to expand compliant digital asset services across Southeast Asia.
ShopBacklaunchedShopBack Pay in Hong Kong with Octopus integration, enabling in-store Cashback at 500+ outlets.
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