Compliance
Compliance Corner: Hong Kong Monetary Authority
The latest compliance news: regulatory developments, punishments, guidance, permissions, new product and service offerings.
Hong Kong Monetary Authority
The Hong
Kong Monetary Authority has announced several initiatives for
the jurisdiction’s fintech sector.
Here are some of the HKMA’s announcements:
FPS x PromptPay QR Payment: The HKMA is working with the Bank of Thailand to link Hong Kong’s Faster Payment System (FPS) and Thailand’s PromptPay, in a new service called “FPS x PromptPay QR Payment,” scheduled for launch on 4 December. Users will be able to scan and pay at over eight million PromptPay merchants in Thailand using their mobile phones.
Tokenization in the bond market: After Hong Kong issued a tokenizd government green bond earlier this year, the HKMA is in talks with market participants to explore further use cases for distributed ledger technology (DLT) in capital markets, including a second tokenized government green bond.
