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Blockchain

Blockchain
The latest news, analysis and opinion on Blockchain. In-depth analysis, industry insights and expert opinion.
A physical imitation of an Ethereum cryptocurrency token. Photo: AFP
North Korea

North Korea’s Lazarus suspected of stealing US$290 million from KelpDAO

Ethereum was ‘drained’ from KelpDAO in the biggest known cryptocurrency heist so far this year.

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Artificial intelligence

Crypto industry sees AI-driven agent economy as next growth driver

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China digital currency

Hong Kong seen leading Asia in push to scale stablecoins, HSBC says

Hong Kong economy

Hong Kong, mainland China sign ‘milestone’ MOU on promoting digital economy

Memorandum of understanding covers topics including AI promotion, cross-boundary data flow and blockchain.

Cyberspace Administration of China director Zhuang Rongwen (left) with Hong Kong leader John Lee. Photo: ISD
Banking & finance

Calls grow for HKMA to go further on stablecoins after conservative first batch

Analysts and investors say the HKMA’s cautious approach prioritises risk control, but limits Hong Kong’s digital asset ambitions.

Banking & finance

As France pulls gold from the US, how can China become the next global gold hub?

Federal Reserve is no longer seen as a ‘safe’ place for nations to store gold as Trump’s unpredictability spooks the world’s central banks.

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Hong Kong economy

Letters | Hong Kong is not competing with US stablecoins or the digital renminbi

Readers discuss the city’s stablecoin ambitions, the use of e-payments, and the role eHealth could play in stroke prevention.

A visitor displays a cup of coffee purchased with China’s digital yuan, or the e-CNY, at the Digital China Summit in Fuzhou, southeast China’s Fujian Province, on April 26, 2023. Photo: Xinhua
Banking & finance

Open Dialogue | Gary Liu and Liu Xiaochun on the US and China’s divergent paths for stablecoins

As investors await Hong Kong’s first stablecoin licences, two experts discuss the assets’ integration with the city’s economy – and the world’s.

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Cryptocurrency

Has Hong Kong laid the groundwork to become a world-leading crypto hub?

With its regulatory clarity and superconnector edge, the city is drawing global crypto firms as it emerges as a premier Web3 hub.

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US-China relations

US-China split on digital money deepens as stablecoin debate stalls Clarity Act

Crypto push for yield clashes with banks, slowing US legislation as China advances interest-bearing e-CNY on a different path.

China’s e-CNY is a central bank digital currency that now allows interest-bearing holdings, reflecting Beijing’s state-led approach to digital money. Photo: VCG
Banking & finance

Hong Kong, Shanghai sign pact on digital trade finance, cross-border data link

‘This marks an important milestone in the collaboration on financial innovation between Shanghai and Hong Kong,’ HKMA’s Howard Lee says.

The collaboration with Hong Kong is expected to help Shanghai realise innovative applications in digitised cargo trade and finance. Photo: Getty Images/iStockphoto
Banking & finance

HSBC signals intent to join Hong Kong’s stablecoin regime amid digital hub push

Georges Elhedery declined to confirm whether HSBC applied for stablecoin licence but indicated that discussions with regulator were ongoing.

Fintech

Can Hong Kong lead a digital gold trading revolution with blockchain innovation?

Beyond banks, asset managers, fintechs and crypto firms are racing to launch innovative tokenised gold products for investors.

Cryptocurrency

Scams and outflows: why China slammed the door on real-world asset tokens

Beijing’s clampdown aims to help safeguard financial security and monetary sovereignty while leaving room for regulated fintech innovation in Hong Kong.

Stablecoins represent the most widely adopted use case for real-world assets on blockchains. Photo: Shutterstock
Hong Kong economy

Bargain hunting? Hong Kong retail investors snap up bitcoin amid crypto crash

Dozens seen queuing at cryptocurrency shops at Admiralty Centre to buy bitcoin after price fell by more than half from its peak.

People visit a cryptocurrency shop in Admiralty. Photo: Edmond So
US-China trade war

US Treasury chief warns of China’s push for digital asset dominance

Scott Bessent tells senators the US must pass the Clarity Act to counter Hong Kong’s ‘sandbox’ and maintain global financial leadership.

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United States

Bitcoin drops, driving US$2 trillion slide in crypto market value

The world’s largest cryptocurrency fell to a low of US$66,675.12, its weakest since October 2024, a month before Trump won the US election.

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Bitcoin

Hong Kong crypto investors stay cautious but upbeat as bitcoin sell-off deepens

Bitcoin’s steep pullback has rattled global crypto markets, but in Hong Kong clearer rules on stablecoins are underpinning confidence.

Hong Kong is hoping to position itself as a digital asset hub. Photo: Shutterstock
Fintech

China second to US in global AI finance index, with Hong Kong third as city hub

China rated the strongest country in converting AI capacity into production use, while Hong Kong trailed New York and London as finance hub.

Banking & finance

HKMA unveils 20-point road map to modernise Hong Kong’s trade finance ecosystem

Project CargoX aims to digitalise Hong Kong’s trade finance, expand SME lending and strengthen connectivity with mainland China and Asean.

Banking & finance

Opinion | To harness crypto ingenuity, financial threat must first be neutralised

Future of money must be shaped by competition between private ingenuity and public purpose, not by rent seeking and speculative bubbles.

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Illustration: Craig Stephens
Banking & finance

Exclusive | Old lender, new twist: Shanghai Commercial Bank teams up with HashKey on card

The 75-year-old lender will work with the newly listed digital asset exchange to issue a co-branded Visa card for HashKey traders.

Shanghai Commercial Bank CEO Wallace Lam. Photo: Jonathan Wong
Chinese culture

Video | How a Shanghai start-up is digitalising Chinese tea

Safety, verification and trust behind start-up company Teakan Technology’s goal to make traditional Chinese tea digitally traceable.

IPO

HashKey shares debut flat in Hong Kong amid bitcoin bear market

The firm, one of 11 licensed virtual asset trading platforms in Hong Kong, raised US$206 million in the city’s first crypto-native IPO.

UAE

Coins in sand: how the UAE draws in the global crypto community

At Abu Dhabi Finance Week, insiders give credit to the UAE’s regulatory infrastructure and institutional adoption of digital assets.

Abu Dhabi, the capital of the United Arab Emirates, started regulating cryptocurrencies in 2018. Photo: Shutterstock
Banking & finance

Swift tests blockchain with Ant International and HSBC in cross-border trial

By using the ISO 20022 messaging standard, the partners say they can make tokenised deposits interoperable with legacy systems.

Singapore-based Ant International and HSBC connected Ant’s blockchain infrastructure to Swift’s network, allowing real-time cross-border treasury management. Photo: Shutterstock
Hong Kong

Crypto exchange Gate weighs Hong Kong licence return amid high compliance costs

Hong Kong’s policies pose some difficulties and covering the cost of operating locally is difficult, founder and CEO Lin Han says.

Art

Singaporean buyer of US$69 million Beeple NFT opens art and technology space

Vignesh Sundaresan explains the aim behind Padimai Art & Tech Studio, which opens with a virtual reality work by artist Olafur Eliasson.

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