سعر Manchester City Fan TokenCITY

HSBC Holdings has launched Hong Kong’s first blockchain-based settlement service. It has launched a tokenized deposit program that converts traditional bank deposits into digital tokens on a blockchain platform. The initiative marks a step forward for fintech development in the city. Around-the-clock transfers between HSBC Hong Kong wallets and real-time payments in US dollars and Hong Kong are made possible by the tokenized deposit infrastructure for corporate clients. According to Lewis Sun, HSBC’s global head of domestic and emerging payments, the service has the potential to reduce costs and processing times compared to traditional banking systems. “Tokenized deposits, when supported by regulated financial institutions, can offer a safe and fully compliant approach to improving payments and cash management for companies,” Sun stated . He added that Hong Kong’s position as an international financial center committed to digital money innovation makes this service a new benchmark for efficiency in corporate digital money solutions. Related: Hong Kong’s Stablecoin Bill Passed to Strengthen Virtual Asset Regulations Ant International, an affiliate of Alibaba Group Holding, became the first client to complete an instant fund transfer using the deposit tokenization technology. The successful transaction followed a pilot test between HSBC and Ant International on Ant’s blockchain-based Whale platform. Following the pilot program, HSBC adapted learnings from the joint innovation to develop its tokenized deposit service, according to Ant International’s separate announcement. Kelvin Li, Ant International’s general manager of platform technology, noted that tokenization serves as a link between blockchain technology and conventional banking. “Through industry public-private collaborations and by working with leading partners, we aim to unlock more transparent, accessible, and efficient treasury management solutions for businesses worldwide,” Li explained. HSBC’s tokenized deposit service operates as the first live initiative supported by the Hong Kong Monetary Authority’s (HKMA) Supervisory Incubator for Distributed Ledger Technology. The bank joined several financial institutions in completing proof-of-concept use cases under the HKMA’s program designed to foster tokenization market development.In August 2024, the HKMA unveiled a central bank digital currency testing regime. This permitted HSBC and five other participants to experiment with tokenized money for digital asset transactions. This initiative brought Hong Kong closer to implementing interbank settlements through blockchain technology. The regulatory framework provides a foundation for financial institutions to explore blockchain applications and also maintain compliance and security standards needed for traditional banking operations. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

Hong Kong passes stablecoin bill, paving way for licensed issuers by year-end Hong Kong legislator @Johnny_nkc shared on X that the city’s Legislative Council has approved the Stablecoin Bill in its third reading. The new legislation sets the stage for a licensing regime,

New York City Mayor Eric Adams has announced the formation of a #digitalassets advisory council, composed of industry experts 🏛 📌 The council will offer strategic input on integrating #fintech and digital assets across public services and business infrastructure 💻

SEC sues Unicoin and its executives for securities fraud, involving more than $100 million On May 20, 2025, the U.S. Securities and Exchange Commission (SEC) announced that it had filed a lawsuit against New York City-based Unicoin, Inc. and three of its executives, alleging that they made false and misleading statements in the issuance of certificates claiming to obtain the crypto asset Unicoin tokens and the issuance of Unicoin common stock. The executives involved include CEO and Chairman of the Board Alex Konanykhin, former President and former Chairman of the Board and current Director Silvina Moschini, and former Chief Investment Officer Alex Dominguez. The SEC accused Unicoin and its executives of misrepresenting to more than 5,000 investors through extensive publicity (including advertisements at airports, New York taxis, and on television) that its tokens would be backed by billions of dollars in real estate and pre-IPO company equity, but the actual asset value was far less than this. In addition, the SEC alleged that Unicoin falsely reported that it had sold more than $3 billion in certificates, with actual financing amounts of no more than $110 million, and falsely advertised that its certificates and tokens were registered with the U.S. Securities and Exchange Commission. The SEC has filed a lawsuit in the U.S. District Court for the Southern District of New York, seeking permanent injunctions, disgorgement of ill-gotten gains, civil penalties, and employment bans on the executives involved. Unicoin’s general counsel, Richard Devlin, was also charged with negligently making similar false statements and has agreed to pay a $37,500 civil penalty.

New York City Mayor Establishes Digital Assets Advisory Council to Explore Putting Birth and Death Records on the Blockchain