According to Odaily, KPMG released its 'Fintech Trends' report yesterday, revealing that the Asia-Pacific region recorded 438 fintech transactions in the first half of 2024, with a total fundraising amount of $3.8 billion. China contributed $624 million to this total, accounting for 16% of the region's fintech fundraising. Consumer finance and lending companies dominated over half of the transaction volume in the first quarter.
The Asia-Pacific region is increasingly focusing on the development and launch of virtual currencies and real-world asset tokens. Major financial hubs such as Hong Kong, Singapore, and Japan are striving to balance innovation with regulation, aiming to protect investor rights while continuing to explore and approve activities that integrate traditional finance with decentralized finance. The Hong Kong government is actively developing cryptocurrency regulations to support crypto trading and other related activities.
In the first half of 2024, the Hong Kong Monetary Authority (HKMA) launched the second phase of the e-HKD pilot program. Through various initiatives, Hong Kong aims to attract cryptocurrency enterprises and enhance its financial ecosystem, driving the city towards becoming an international virtual asset center.
