Hi fintech friends,

HashKey Group went public yesterday—an important marker for Hong Kong’s regulated digital-asset push. It priced near the top of its range and raised about $206 million; shares opened soft and closed slightly down. The takeaway isn’t momentum but validation: cornerstone institutions, including UBS and Fidelity, backed a compliance-first model while the market stays risk-off near term.

With that, let’s move on to other happenings in China. If I don’t “see” you next week, have a wonderful Christmas.

Financing & Acquisition

• Airwallex will invest $590 million in its UK operations through 2030, boosting headcount by 60% and launching credit cards, recurring billing SaaS, and Spend AI to drive EMEA expansion.
• RedotPay raised $107 million in Series B led by Goodwater Capital, following its September round, to fund acquisitions, licensing, and global hiring for stablecoin payment growth.
• HSBC moved forward on fully privatizing Hang Seng Bank via a scheme of arrangement.

Product & Partnership Launches

• Sunrate launched a Walmart Marketplace seller payout tool, letting international sellers collect directly into Sunrate accounts with FX and risk protection across 130+ currencies.sun
• Standard Chartered rolled out tokenized deposits on Ant International’s Whale platform for real‑time HKD/CNH/USD treasury transfers.
• Bitget opened a private beta for Bitget TradFi, offering USDT‑margined CFDs on forex, gold, commodities, indices, and stocks with up to 500x leverage under Mauritius regulation.
• Tencent Cloud partnered with Thailand’s Bitkub to provide cloud, database, and AI infrastructure for digital asset services, focusing on compliance, risk control, and app stability.
• Circle and LianLian Global signed an MOU to explore stablecoin‑powered cross‑border payments.

Licensing & Regulations

• China's Shopify equivalent SHOPLINE received Singapore’s Major Payment Institution license (MPI).

👍 👎 Have feedback or news to share?

Sign up to TWIF Premium Join us on WhatsApp Join our Slack