Hi Fintech friends,

Please find below a brief update on last week’s China fintech news.

Licensing & Regulations

• AMINA Bank upgraded its SFC license to offer regulated crypto trading and custody, becoming the first international bank with compliant crypto services for professional investors.
• Hong Kong piloted tokenized deposit and digital asset transactions, advancing integration of traditional banking with blockchain technology.

Product & Partnership Launches

• XTransfer partnered with Siam Commercial Bank (SCB Bank) and Kasikornbank (KBank) from Thailand to build more transparent, secure and cost effective FX services.
• Banking Circle signed up to support JD Fintech by providing payment infrastructure that enhances cross-border payment speed, transparency, and multi-currency settlement across Asia.
• UBS collaborated with Ant International on blockchain payment solutions for secure, transparent institutional transactions.
• Ant International also worked with TNG Digital and Pakistan’s payment app Easypaisa to roll out generative AI in financial services, elevating client engagement and operational efficiency.
• Western Union expanded partnership with Tenpay to accelerate cross-border remittances between global and Chinese markets.
• Industrial and Commercial Bank of China (ICBC) launched Türkiye’s first RMB clearing bank in Istanbul to simplify RMB transactions, cut costs, and boost bilateral trade. The bank also introduced Türkiye’s first UnionPay multi-currency debit and dual-currency credit cards, strengthening financial links between China and Türkiye.
• LianLian DigiTech set up its overseas headquarter in Hong Kong, focusing on blockchain and AI to improve cross-border payments and support Chinese businesses’ global expansion.

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