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Wednesday

23 June 2021

‘All Banks Go Fintech’: Hong Kong Unveils ‘Fintech 2025’ Strategy – Fintech Bitcoin News

‘All Banks Go Fintech’: Hong Kong Unveils ‘Fintech 2025’ Strategy – Fintech Bitcoin News


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The Hong Kong Monetary Authority (HKMA) plans to guide local banks towards full adoption of fintech technologies, a new strategy reveals.

Hong Kong’s monetary policy regulator has presented its new strategy to stimulate the fintech development of China’s special administrative region.

Expanding on the accomplishments of its Smart Banking Era Strategy announced in 2017, the HKMA will continue to “promote the all-round adoption of fintech by Hong Kong banks.” The regulator is going to identify specific fintech areas where the sector is lagging behind and needs support.

The Hong Kong Monetary Authority is planning to establish a credit data sharing platform based on distributed ledger technologies (DLT) and set up a Commercial Data Interchange.

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