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Compliance Corner: Hong Kong Monetary Authority

Editorial Staff

6 November 2023

Hong Kong Monetary Authority
The 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.