Hey fintech community,

It’s been a busy week for China’s fintech scene, with new alliances, regulatory updates, and product rollouts shaking up payments, digital assets, and cross-border finance. Here’s a quick scan of the headlines and shifts you might’ve missed.

Coin Related

• Hong Kong is making stablecoins more attractive to banks by proposing lighter capital requirements for licensed holdings. HKMA also clarified that only “permitted offerors” can operate OTC trades locally for now and is closely monitoring compliance as the new rules roll out.
• HSBC and ICBC plan to apply for Hong Kong stablecoin licenses as new regulations kick in; only a handful of issuers expected in first round.
• Singapore’s MetaComp and Hong Kong’s OSL team up to boost cross-border payments, tokenised assets, and stablecoin rails between the two hubs.
• Binance and Franklin Templeton partner to develop digital asset products, blending tokenization with global trading infrastructure.
• HashKey plans to launch Asia’s largest digital asset treasury fund, targeting $500M+ to bridge institutional capital and blockchain assets.

Product & Partnership Launches

• Webull debuts in the Netherlands, giving EU retail investors access to US and European stocks, ETFs, and options via a modern trading app.
• Ant International’s Bettr rolls out AI-powered loans for global e-commerce sellers, using real-time data for instant credit and fraud checks.
• HIVEX enables WeChat Pay users to pay at millions of PayPay merchants in Japan, simplifying travel payments for Chinese tourists.
• XTransfer and CZBank partner to expand cross-border financial services for Chinese SMEs, focusing on settlement and risk controls.

Licensing & Regulations

• Nasdaq sets stricter listing and delisting rules for Chinese firms, including higher public float and minimum capital raised.

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