Hi fintechs friends,

Please find another week of key fintech moves in China below.

The Coin Related

• HashKey Group, Hong Kong's largest licensed crypto exchange, announced its IPO plan to aise up to HK$1.67 billion ($214.66 million).
• OSL Group launched USDGO, a fully reserved USD stablecoin to be issued by Anchorage Digital to anchor its planned compliant global payment network launching in 2026.
• Binance became the first global crypto exchange to secure the full set of FSRA licenses in Abu Dhabi Global Market, allowing it to operate as a regulated exchange, clearing house and broker-dealer there.
• Bybit formed a strategic partnership with Circle to broaden USDC adoption, committing to deepen USDC liquidity across its spot and derivatives markets and to extend USDC use across products such as Earn, Card, Pay and fiat on/off ramps.
• Ant International, HSBC and Swift completed a proof of concept using tokenised deposits over Swift’s network, linking HSBC’s Tokenised Deposit Service with Ant’s blockchain to demonstrate cross-border, real-time programmable payments.

Financing & Acquisition

• Airwallex raised 330 million USD in a Series G round at an 8 billion USD valuation, and also acquired a majority stake in an licensed Indonesian payment provider PT Skye Sab Indonesia to deepen its Southeast Asia presence.

Product & Partnership Launches

• Aspire expanded its collaboration with Wise to Hong Kong, launching fast, low-cost international payments in over 40 currencies for local businesses.
• SoéPay and KPay both launched Tap to Pay on iPhone in Hong Kong.
• TenPay Global and Mastercard enabled direct digital remittances into China.
• Pakistan fintech NayaPay launched global QR payments via Alipay+, enabling its users to pay at Alipay+ merchants.

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