Hello fintech enthusiasts,

Ning again! Let's dive into the latest news from the world of Chinese fintech and the Chinese economy. I promise it's a real short one 😃

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Licensing & Regulations

• Hex Trust, a HK digital asset custodian, has obtained a Major Payment Institution (MPI) license from the Monetary Authority of Singapore, allowing it to provide digital payment token services.
• The United States is likely to ban the Chinese AI app DeepSeek on government devices, following concerns about data security and potential espionage.

Financing, Investment & Acquisition

• Abu Dhabi's MG Squared Investments (MGX) is set to invest $2 billion in the cryptocurrency exchange Binance, signaling a significant boost for the platform amidst regulatory challenges.
• The Stock Exchange of Hong Kong (HKEX) has added Thailand's bourse to its list of recognized stock exchanges, paving the way for Thai companies to seek secondary listings in Hong Kong.

Product & Partnership Launches

• Airwallex has launched an embedded finance solution, allowing businesses to offer financial services directly within their platforms, enhancing user experience and monetization opportunities.
• UnionPay International and Al Etihad Payments have partnered to launch co-badge cards in the UAE, combining UnionPay's global network with local payment schemes.
• UnionPay International has partnered with Thailand's National ITMX Co., Ltd (NITMX) to integrate UnionPay's payment system with Thailand's PromptPay, enhancing digital payment experiences for travelers between China and Thailand.

Other Read

• The future of banking in Asia: Key trends and insights