Hong Kong FinTech Week 2024

The Hong Kong Monetary Authority (HKMA) co-hosted Hong Kong FinTech Week 2024, attracting global participants to discuss financial innovation. Chief Executive Eddie Yue emphasized the importance of digital transformation, announcing several initiatives under Project Ensemble to advance asset tokenization and cross-border payments, including collaborations with Brazil and Thailand. The HKMA launched the Ensemble Sandbox for tokenization use cases and introduced a Digital Bond Grant Scheme to encourage digital bond issuance. Other initiatives include a cross-border payment system with China and the Commercial Data Interchange to enhance SME lending. The HKMA also debuted Fintech Connect to link financial institutions with fintech providers, aiming to foster collaboration and innovation in the fintech ecosystem.

Resources: https://www.hkma.gov.hk/eng/news-and-media/press-releases/2024/10/20241028-5/