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Fintech News ME
a day ago
- Business
- Fintech News ME
InvestHK's Gulf Cooperation Council Fintech Visit Spurs Strategic Partnerships
Invest Hong Kong (InvestHK) reinforced its role as a global business hub through a strategic visit to the Gulf Cooperation Council (GCC) region, forging strong partnerships. The InvestHK GCC fintech delegation built on the momentum from the Chief Executive's earlier visit to the Middle East in May, which saw three Memoranda of Understanding (MOUs) signed by InvestHK. The InvestHK GCC fintech delegation, made up of leaders from top financial and fintech firms founded locally, in Mainland China or overseas with operations in Hong Kong, engaged in high-level meetings. This included meetings with local government organisations, private equity partners and tech incubators across the GCC, facilitated by InvestHK. The Director-General of Investment Promotion at InvestHK, Alpha Lau, said, 'In today's evolving global economy, Hong Kong has showcased its irreplaceable strategic value as a 'super connector'. We recognise opportunities in high-potential markets, such as the GCC region, which are actively diversifying their economies through innovations. By partnering with InvestHK, companies can effectively access these competitive markets with the government's support.' The Global Head of Financial Services, FinTech & Sustainability at InvestHK, King Leung, added, 'Leveraging our in-depth understanding of each participating company, we successfully showcased Hong Kong as an efficient platform for connecting high-quality enterprises, earning broad recognition from local governments, businesses, and investors across the GCC region.' Over the past two years, firms like Evident Group, LianLian Global, OneDegree, and others have joined the delegations, with delegates crediting the HKSAR Government for enabling meaningful results through its support and connections. Evident Group's delegation participation led to a milestone MOU with Zand Bank, the UAE's AI-powered bank. This marked the start of a strategic collaboration, focused on delivering innovative alternative investment solutions for the latter's private wealth clients. By leveraging Evident Group's secure digital market infrastructure, the partnership aims to broaden access to private equity secondaries, private credit, and tokenised infrastructure, highlighting how digitalisation of private markets can strengthen Hong Kong's role as a bridge for global private wealth. Next, LianLian Global sees Hong Kong as a vital hub for expanding its presence in the GCC. Using InvestHK delegations to build key government-to-government relationships, most notably with the Central Bank of the UAE, opened new strategic pathways. Also, at the Dubai FinTech Summit, LianLian Global secured a cooperation agreement with Lulu Money to extend payment services into Mainland China. Thirdly, Lingfeng Capital secured its approved-in-principle from the UAE's Financial Services Regulatory Authority as a licensed fund manager in the UAE. Lingfeng Capital has set up its regional headquarters in Abu Dhabi after identifying growth opportunities during the first delegation visit last year. Building on this momentum, Lingfeng Capital is now establishing a fund in Abu Dhabi to support portfolio companies from Hong Kong, Mainland China, and beyond as they expand into the GCC region. Finally, OneDegree has earned recognition from GCC government officials for its digital asset insurance solutions. Backed by investment from Dubai Insurance and approved by the Central Bank of the UAE through its partnership with Dubai Insurance Co., OneDegree is set to provide digital asset insurance in the UAE. Walaa will be providing reinsurance capital for OneDegree's global digital asset playbook. A key milestone for OneDegree was a private meeting with senior leadership of the Kingdom of Saudi Arabia's Insurance Authority during last year's delegation visit. The 2025 InvestHK GCC fintech delegation was built on groundwork laid by HKSAR officials to deliver concrete business outcomes, reinforcing Hong Kong's role as a globally connected, outward-facing economy. As a 'super connector' and 'super value-adder,' Hong Kong continues to drive two-way economic growth through innovation and strategic partnerships.
Muscat Daily
11-05-2025
- Business
- Muscat Daily
Oman, Hong Kong explore deeper investment ties
Muscat – The Ministry of Commerce, Industry and Investment Promotion (MoCIIP) welcomed a high-level delegation from Hong Kong on Sunday, aiming to strengthen economic cooperation and explore fresh investment opportunities. The visit highlighted the growing interest of Hong Kong in Oman's expanding investment landscape, bringing together representatives from sectors including consulting, venture capital, digital asset management and financial technology. The delegation engaged with several Omani government entities, focusing on collaboration in startup financing, digital asset management, knowledge exchange, and the creation of new investment channels in line with the development goals of both sides. H E Ibtisam bint Ahmed al Farooji, Undersecretary for Investment Promotion at MoCIIP, said the visit reflects the strong economic ties between Oman and Hong Kong. 'Oman is keen to build international partnerships in sectors of mutual interest, in line with the goals of Oman Vision 2040,' she said. 'We aim to attract high-quality, value-added investments that contribute to economic diversification.' King Leung, Head of the Delegation and Global Head of Financial Services, FinTech, and Sustainability at Invest Hong Kong, highlighted the strategic relationship between the two sides. 'There is an increasing interest from Hong Kong investors in Oman's emerging sectors, particularly in digital and technology-driven industries,' he said, noting that Oman's appeal as a regional and international investment hub is strengthened by its strategic location and stable economic environment. As one of the world's leading financial centres, Hong Kong plays a critical role in global capital flows, serving as a bridge between Chinese markets and the international economy.
Yahoo
17-02-2025
- Business
- Yahoo
Consensus building: crypto conference arrives in Hong Kong in test for city and CoinDesk
The arrival of one of the biggest Web3 industry events in Hong Kong is testing the city's resolve in becoming a virtual asset hub, while the organisers look to expand their footprint in Asia. Consensus Hong Kong, a three-day cryptocurrency- and blockchain-focused event that kicks off on Tuesday, is leaning heavily into the city's reputation as a traditional financial hub. "Naturally, we know our strength, and that is capital markets," said King Leung, global head of financial services, fintech and sustainability at InvestHK. Do you have questions about the biggest topics and trends from around the world? Get the answers with SCMP Knowledge, our new platform of curated content with explainers, FAQs, analyses and infographics brought to you by our award-winning team. Consensus Hong Kong chairman Michael Lau (left) with InvestHK head of financial services and fintech King Leung at the InvestHK offices in Central on February 13. Photo: Matt Haldane alt=Consensus Hong Kong chairman Michael Lau (left) with InvestHK head of financial services and fintech King Leung at the InvestHK offices in Central on February 13. Photo: Matt Haldane> Michael Lau, chairman of Consensus Hong Kong and head of business development at the cryptocurrency exchange Bullish, echoed that sentiment. "Choosing Hong Kong was a pretty strategic decision, because we know that one of the big themes within the whole space is ... [that] traditional finance has been enabled by this technology," Lau said in a joint interview with Leung at the offices of InvestHK on February 13. Consensus Hong Kong is the first major expansion of one of the premier industry conferences since the organiser CoinDesk, a crypto news outlet whose coverage of FTX account irregularities led to the downfall of the crypto exchange, was acquired by Bullish in November 2023. Hong Kong, meanwhile, has been looking to show its continued commitment to growing the virtual asset sector while also illustrating its capacity to host major industry events. One of the hottest topics in the industry right now is stablecoins, which are pegged to fiat currencies such as the US dollar and therefore have more traditional finance applications than other cryptocurrencies. Hong Kong is readying stablecoin regulations that will be overseen by the city's de facto central bank, the Hong Kong Monetary Authority. "Stablecoins has been one of those places where it was a very great product-market fit when it came out," Lau said. "Because people realised that ... it was a really, really great tool for the ability to do remittances, to do payments in a way that makes it more efficient as well as ... retain more value to the user." CoinDesk's new event comes two months after the newsroom was rocked by controversy over the firing of editors, including its editor-in-chief, allegedly for a story about Tron founder Justin Sun. In the article, reporter Callan Quinn struck a tongue-in-cheek tone about Sun's public eating of a banana that was part of the conceptual artwork Comedian, which the crypto entrepreneur bought for US$6.2 million. Fortune reported in December that Bullish dismissed the editors, raising questions of editorial independence and conflicts of interest. Quinn said she resigned after learning of the firings and blamed Tron for undue influence. Tron is a top sponsor of Consensus Hong Kong. "We have great respect for journalists and the important work media outlets do," Tron said when asked for comment. "Internal matters at CoinDesk are their business, and we cannot speculate or comment on their behalf." Bullish did not respond to a request for comment on the matter. Long before the controversy, however, InvestHK - a government group tasked with bringing business to the city - had been in conversation with CoinDesk during their search for a new Consensus event outside North America, according to Leung. "We have a lot of Web3, crypto natives in Hong Kong who have been attending Consensus for years, so we already have a very strong fan base," Leung said. Amid its push to become a global virtual asset hub, Hong Kong has been dealing with seismic shifts in the crypto industry. The re-election of the now crypto-friendly Donald Trump to the US presidency sent the price of bitcoin to a record high. Lau noted that Consensus Hong Kong is the first major industry event since Trump's inauguration on January 20. While he did not give specific numbers for registered attendees, he said more than 100 countries are represented and the large influx of people reflects how moves in the US have increased interest in this space. "The fact that you have a widening base of different governments showing public support and more regulators providing clarity, all of those things are quite positive," Lau said. "[Sentiment] has certainly shifted because all of a sudden it's accelerating - the excitement around this, the adoption around this." Crypto adoption has long been higher in Asia than in other parts of the world, which some have attributed to factors including a large underbanked population. Citing data from a CoinDesk survey last year, Lau said crypto adoption in Asia is at 22 per cent, nearly three times the global average of 7.8 per cent. Hong Kong, once home to leading crypto companies such as and FTX, lost its edge when it signalled regulatory tightening in 2020. While it has been trying to reverse course through greater regulatory clarity since 2022, there is greater competition now from other regional players, especially Singapore. However, Lau and Leung say that Hong Kong has no competition when it comes to liquidity and capital markets, pointing to the much larger market for initial public offerings. "Anything related to innovation, related to capital markets, then Hong Kong has to be the natural choice," Leung said. Lau himself has a strong connection to Hong Kong. He has been based in the city for 16 years, even as New York-based Bullish established its regional headquarters in Singapore. But while Lau said he is happy to see Consensus come to his home city, he insisted the real reason behind the location choice was all business. "There are very few places in the world where you could do something like this," he said. "Where you have the vision of what we want to bring, the environment that supports it, as well as the infrastructure to be able to execute it." This article originally appeared in the South China Morning Post (SCMP), the most authoritative voice reporting on China and Asia for more than a century. For more SCMP stories, please explore the SCMP app or visit the SCMP's Facebook and Twitter pages. Copyright © 2025 South China Morning Post Publishers Ltd. All rights reserved. Copyright (c) 2025. South China Morning Post Publishers Ltd. All rights reserved. Sign in to access your portfolio
South China Morning Post
16-02-2025
- Business
- South China Morning Post
Consensus building: Crypto conference arrives in Hong Kong in test for city and CoinDesk
The arrival of one of the biggest Web3 industry events in Hong Kong is testing the city's resolve in becoming a virtual asset hub, while the organisers look to expand their footprint in Asia. Advertisement Consensus Hong Kong, a three-day cryptocurrency- and blockchain-focused event that kicks off on Tuesday, is leaning heavily into the city's reputation as a traditional financial hub. 'Naturally, we know our strength, and that is capital markets,' said King Leung, global head of financial services, fintech and sustainability at InvestHK. Consensus Hong Kong chairman Michael Lau (left) with InvestHK head of financial services and fintech King Leung at the InvestHK offices in Central on February 13. Photo: Matt Haldane Michael Lau, chairman of Consensus Hong Kong and head of business development at the cryptocurrency exchange Bullish, echoed that sentiment. 'Choosing Hong Kong was a pretty strategic decision, because we know that one of the big themes within the whole space is … [that] traditional finance has been enabled by this technology,' Lau said in a joint interview with Leung at the offices of InvestHK on February 13. Consensus Hong Kong is the first major expansion of one of the premier industry conferences since the organiser CoinDesk, a crypto news outlet whose coverage of FTX account irregularities led to the downfall of the crypto exchange, was acquired by Bullish in November 2023. Advertisement Hong Kong, meanwhile, has been looking to show its continued commitment to growing the virtual asset sector while also illustrating its capacity to host major industry events. One of the hottest topics in the industry right now is stablecoins, which are pegged to fiat currencies such as the US dollar and therefore have more traditional finance applications than other cryptocurrencies. Hong Kong is readying stablecoin regulations that will be overseen by the city's de facto central bank, the Hong Kong Monetary Authority.
South China Morning Post
16-02-2025
- Business
- South China Morning Post
Consensus building: Crypto conference arrives in Hong Kong amid Web3 changes
The arrival of one of the biggest Web3 industry events in Hong Kong is testing the city's resolve in becoming a virtual asset hub, while the organisers look to expand their footprint in Asia. Consensus Hong Kong, a three-day cryptocurrency- and blockchain-focused event that kicks off on Tuesday, is leaning heavily into the city's reputation as a traditional financial hub. 'Naturally, we know our strength, and that is capital markets,' said King Leung, global head of financial services, fintech and sustainability at InvestHK. Consensus Hong Kong chairman Michael Lau (left) with InvestHK head of financial services and fintech King Leung at the InvestHK offices in Central on February 13. Photo: Matt Haldane Michael Lau, chairman of Consensus Hong Kong and head of business development at the cryptocurrency exchange Bullish, echoed that sentiment. 'Choosing Hong Kong was a pretty strategic decision, because we know that one of the big themes within the whole space is … [that] traditional finance has been enabled by this technology,' Lau said in a joint interview with Leung at the offices of InvestHK on February 13. Consensus Hong Kong is the first major expansion of one of the premier industry conferences since the organiser CoinDesk, a crypto news outlet whose coverage of FTX account irregularities led to the downfall of the crypto exchange, was acquired by Bullish in November 2023. Hong Kong, meanwhile, has been looking to show its continued commitment to growing the virtual asset sector while also illustrating its capacity to host major industry events. One of the hottest topics in the industry right now is stablecoins, which are pegged to fiat currencies such as the US dollar and therefore have more traditional finance applications than other cryptocurrencies. Hong Kong is readying stablecoin regulations that will be overseen by the city's de facto central bank, the Hong Kong Monetary Authority.
