Search results for ICBC
Crypto
Chinese AI chip stocks trade first on crypto exchanges as overseas funds seek access
Overseas investors are effectively investing early in Chinese AI semiconductor companies through perpetual futures on cryptocurrency exchanges, an analysis said. With direct access to mainland Chinese equities limited, investors are betting on pre-listing prices via crypto derivatives. Trading has surged ahead of ChangXin Memory Technologies\' planned STAR Market listing. The products allow round-the-clock trading without owning shares and are seen as a way to bypass China’s foreign investment restrictions and perform price discovery before IPO pricing.
Crypto
Hong Kong to issue first stablecoin issuer licences in March
Hong Kong’s monetary authority will issue its first stablecoin issuer licences in March, Cointelegraph reported, citing Reuters. HKMA Chief Executive Eddie Yue said reviews of licence applications were nearly complete and that only a very small number would receive initial approval. Authorities are evaluating applicants based on use cases, risk management, AML controls and the quality of reserve assets. Issuers must also comply with Hong Kong rules on cross-border activities.
Finance
Shinhan Financial chairman Jin Ok-dong discusses global competitiveness with ICBC
Shinhan Financial Group said Chairman Jin Ok-dong met Industrial and Commercial Bank of China (ICBC) Chairman Liao Lin on Jan. 5 to discuss strengthening cooperation as volatility in global financial markets rises. The two exchanged views on funding collaboration, including expanding private currency swaps to meet foreign-currency liquidity needs more steadily. They also discussed joint cooperation in overseas investment and corporate finance using their global networks.