FinTech news in hong kong category

As a 1:1 fully collateralized stablecoin backed by offshore Chinese yuan, CNHC needs approval from the Hong Kong Monetary Authority and is obliged to submit audit reports at the local government’s request, the company told journalist. Circle Ventures, the venture arm of the USDC issuer Circle, has invested in an offshore Chinese yuan-backed stablecoin project, CNHC.

In light of the downfall of centralized crypto services like FTX, Gemini and Babel itself, Yang is touting Hope, which blends centralized finance (CeFi), decentralized finance (DeFi) and traditional finance (TradFi), to deliver the kind of transparency and security that come with DeFi but provide the easy access offered by CeFi.

The regulatory requirements are open for consultation through March 31 and the new licensing regime will take effect on June 1.

In addition, the latest funding will enable SleekFlow to enhance its product development with fintech and data analytics functions, one-click checkouts via social media platforms, and easy in-chat payment integrations for online to offline (O2O) and e-commerce brands’ seamless workflow.