Hey fintech friends — welcome to another issue focused on the latest China fintech happenings. This week’s update is rich with activity around regulations, digital assets, new partnerships, and China’s strategic moves in the global stablecoin movement.

The Coin Related

• China is considering creating yuan-backed stablecoins to boost the international use of its currency.
• Amina Bank and Hong Kong's Metalpha have teamed up to launch a crypto equity fund for Asian investors, tapping into rising demand for regulated digital asset products.
• Linklogis is partnering with the XRP Ledger to strengthen blockchain rails for its supply chain finance solutions.

Licensing & Regulations

• Hong Kong banks urge HKMA and PBOC to explore channels for faster, fraud-proof account verification.
• Sunrate has secured a China payment license.

Financing & Acquisition

• Ant Group is acquiring a 50.55% stake in Hong Kong’s Bright Smart Securities for $362 million, marking its first securities brokerage license purchase.
• Tian Tu Capital partnered with HashKey Capital to jointly invest in virtual assets and expand asset management offerings.

Product & Partnership Launches

• GCash's tap-to-pay solution is going global in partnership with Alipay and Mastercard, increasing digital wallet reach.
• Standard Chartered and Ant International rolled out an AI-powered treasury and FX solution for cross-border businesses. Together with Swift, they also launched direct Bank-to-Wallet Payments tests.
• Pipe partnered with Airwallex to enable same-day payouts and fast global expansion for small businesses.
• StashAway introduced private market investment access for Hong Kong users, expanding retail wealthtech options.
• Indonesia and China have begun trials for cross-border QRIS payments, aiming to launch the service by the end of 2025.