Real-time Update | What Are the Key Highlights of the Hong Kong Fintech Week 2025 Conference?
From November 3 to 7, FinTech Week 2025 was grandly held at the Hong Kong Convention and Exhibition Centre. As Asia's leading financial technology event, Hong Kong FinTech Week celebrated its tenth anniversary. This year, the conference will further strengthen its international influence, creating a larger global stage, focusing on and exploring core areas such as artificial intelligence, Web3, blockchain, digital payments, digital banking, driving financial technology innovation.
Key officials such as Hong Kong Chief Executive Carrie Lam, Financial Secretary Paul Chan, Deputy Governor of the People's Bank of China Le Le, will attend and deliver speeches; industry leaders such as Tencent Vice President Lin Haifeng, Ant Group Chairman Eric Jing, Binance CEO Richard Teng, Meitu Founder Cai Wensheng, will also take the stage as guest speakers. BlockBeats reporters will provide live coverage from the scene, here are the latest developments:
Standard Chartered Bank CEO: All Transactions Will Ultimately Settle on Blockchain
On November 3, Standard Chartered Bank CEO Bill Winters stated at the Hong Kong Fintech Week 2025 that the bank and the Hong Kong SAR leadership both believe that all transactions will ultimately settle on the blockchain, and all currencies will be digitized.
Paul Chan: Stablecoins Reject Investment or Speculation, License Approvals Only for Applicants with Robust Real Use Cases
On November 3, Hong Kong Financial Secretary Paul Chan stated at Hong Kong Fintech Week 2025 that Hong Kong's financial regulators have a dual mission of regulating and promoting market development. While encouraging innovation, it must also ensure the true applicability of digital asset regulation, investor protection, and financial stability. Whether for digital asset exchanges or stablecoins, we adhere to the same activities, the same risks, and the same regulatory principles. In particular, our regulatory approach to stablecoins is clear: stablecoins are not for investment or speculation but to promote cost reduction, cross-border transactions, and real economic activities. This is why under the licensing regime, approval of stablecoin licenses is only for applicants with a sustainable and robust business model and real use cases.
Eric Jing: Future AI Agents Will Face Customers, AI and Blockchain Will Reshape Financial Services
On November 3, Ant Group Chairman Eric Jing stated at Hong Kong Fintech Week 2025 that AI and blockchain will reshape financial services. The financial services industry is a data-rich and language-intensive industry. The service of financial products is, in fact, abstract, complex, and credit-based, heavily reliant on language descriptions for communication and delivery. This phenomenon covers various areas in the finance sector from the backend to customer-facing interfaces. Therefore, I expect that it may be necessary to assign a dedicated account manager to each customer, which will be taken on by an AI agent to answer questions, resolve issues, and provide users with personalized and cost-effective advice. This is actually a multi-agent system, with an agenda system, driven by AI technology, and it is a short-term change that we can expect in the financial sector.
Furthermore, tokenization driven by blockchain technology can convert various assets into on-chain tokens, allowing assets to be transacted across institutions and markets in a very transparent and trustworthy manner. We can expect a new payment landscape, truly achieving real-time global payments, which will benefit global trade and enhance settlement efficiency. This shift will bring about more regulated innovative sectors and increased participation from regulatory agencies, as transactions on the blockchain begin to shift from speculation to value exchange, driving changes in financial services.
Lu Lei: Exploring New Cross-Border Payment Solutions Using Digital Currency, Building a Dual Platform of Blockchain and Digital Assets
On November 3, Lu Lei, Deputy Governor of the People's Bank of China, stated at Hong Kong Fintechweek 2025 that looking ahead, digital currency will be utilized to explore new cross-border payment solutions. The principles of non-loss, compliance, and interoperability have become the fundamental principles of the legal digital currency infrastructure. The People's Bank of China is actively engaging with various parties to explore open, inclusive, and innovative cross-border payment solutions, providing impetus for the high-quality development of the digital economy.
First, to promote multilateral central bank digital currency bridge cooperation to explore a new paradigm for cross-border payments. The People's Bank of China and several monetary authorities like the Hong Kong Monetary Authority are collectively exploring and have established a multilateral cooperation model based on the principle of equal governance under central bank agreements and blockchain architecture. This model connects various economic payment systems and legal digital currency systems to achieve multi-currency instant cross-border payments.
Second, relying on the digital RMB cross-border payment platform to provide solutions for central bank digital currency cross-border payment cooperation. The People's Bank of China offers a bilateral cooperation model based on the digital RMB cross-border payment platform, flexibly supporting cross-border interconnection with various monetary authority systems to enjoy an intelligent cross-border consumer trade and investment and financing digital experience.
Third, building a dual platform of blockchain and digital assets to activate a new engine for the Internet of Value. The People's Bank of China has launched the Digital RMB Blockchain Service Platform and Digital Asset Platform. Through the interconnection of these two platforms, under the premise of homogeneous regulatory risk control, it explores asset digitization innovations conducive to enhancing regulatory efficiency and transparency, improving value circulation efficiency, and promoting the efficient circulation and optimized allocation of economic factors to empower the Internet of Value.
John Lee: Hong Kong Encourages More Investors to Enter the FinTech Field, Accelerating Innovation and Technological Transformation
On November 3, John Lee, Chief Executive of Hong Kong, stated in the opening speech at Hong Kong Fintechweek 2025 that Hong Kong currently has over 1200 FinTech companies, a 10% increase from last year, with the total revenue of the Hong Kong FinTech industry expected to exceed $600 billion by 2032, with an annual growth rate exceeding 28%. The fundraising scale of IPOs in Hong Kong in the first nine months of this year has exceeded $23 billion. The Hong Kong Capital Investment Entrant Scheme will be relaxed to encourage more investors to enter the FinTech field, and Hong Kong is also exploring tokenization in conventional finance, while applying regulatory sandboxes to promote innovation and prudent risk management. Hong Kong is also accelerating innovation and technological transformation, focusing on key areas such as artificial intelligence, life and health sciences, and new energy, with the goal of assisting emerging industries in achieving scaled development and prosperity.
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Bloomberg: As Bitcoin Weakens, Stablecoins and RWA Continue to Drive Expansion in Crypto Businesses
In June, Bloomberg reported that despite Bitcoin falling below $60,000 last week, wiping out about $235 billion in market value within seven days, and dropping close to 50% from last year’s peak, some core businesses in the crypto industry are still expanding, mainly in stablecoins, real-world asset tokenization (RWA), payments, and infrastructure. The report also noted that overall altcoin activity has contracted significantly: altcoin market capitalization has fallen from a peak of about $431 billion in November 2021 to around $170 billion, and among the tens of millions of tokens issued in recent years, fewer than 1,700 still maintain meaningful trading activity.
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Binance Research: RWA Market Expected to Expand Nearly 6x from Early 2025, with Public Equities and Onchain Payments Heating Up Together
In June, Binance Research said in its monthly market report that the real-world asset (RWA) market is expected to grow by about 589% from the beginning of 2025. Bond- and money market fund-related RWA expanded by about $6.5 billion, up 83% year over year, while publicly traded equity RWAs grew by about 422%. The report also noted that monthly crypto debit card transaction volume exceeded $747 million in May, up 48.6% year to date.
Japan to Assess a Framework for Yen Stablecoins and Crypto ETFs as Asia’s Compliant Payments Narrative Heats Up
Recently, according to the original report, Japan is considering the launch of yen stablecoins and cryptocurrency ETFs. Public information remains limited at this stage, and there is still no complete policy text, regulatory draft, or clear implementation timeline, so this is better characterized as a “policy discussion” rather than formal implementation. The original wording also noted that advancing stablecoin regulation in Asia is driving XRP usage and supporting growth in the XRPL ecosystem. However, based on currently available public information, there is not enough evidence to directly establish a clear causal relationship between this round of discussion in Japan and XRP or XRPL.
ZachXBT: Humanity private key leak and abnormal surge in H token should be viewed separately
On June 9, according to related disclosures, on-chain investigator ZachXBT posted an update on Humanity’s roughly $31 million security incident, saying that after further analyzing fund flows, he currently tends to believe the project team was not involved in an “inside job” or a self-staged attack. According to him, the official explanation about the private key leak was broadly accurate, but before the token unlock, the price of H had been artificially pushed higher, and the hacker later took advantage of that market environment; therefore, the private key leak and the earlier abnormal price pumping should be regarded as two separate and independent events. This reframing has shifted the market’s understanding of the nature of the incident. Earlier discussion around Humanity had focused on whether the team directly participated in the attack or used the security incident to cover up internal operations. ZachXBT’s latest remarks shift the focus from “whether it was self-theft” to “whether there were pre-unlock market structure issues.” He also questioned whether the team may have.
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Humanity Discloses H Token Dual-Chain Attack Details, With Losses on Ethereum and BSC Exceeding $36 Million
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Foreign selling in the South Korean stock market accelerates, with cumulative net sales reportedly reaching $75 billion this year
On June 9, The Kobeissi Letter, citing Goldman Sachs data, reported that global investors are selling South Korean stocks at an unusually rapid pace. In the latest trading session, foreign investors sold about $801 million worth of Kospi constituent stocks again; total foreign outflows last week reached about $10 billion, and the market has been in net foreign selling on nearly every trading day over the past month. According to the data cited in the report, foreign investors have sold about $75 billion worth of South Korean stocks so far this year. Meanwhile, South Korean retail and institutional investors together recorded roughly $69 billion in net buying over the same period, suggesting that the market’s main buying support has come from domestic capital rather than returning overseas funds. The information currently disclosed still mainly comes from The Kobeissi Letter’s retelling and Goldman Sachs data summaries, while public details on the statistical period and the specific definition of “selling” remain relatively limited.
Fortune Warns of Strategy’s Financing Structure Risks as Bitcoin Premium Narrows
Fortune warned that Strategy’s Bitcoin treasury model faces growing financing risks as MSTR’s net asset premium narrows and preferred stock dividend pressure increases.
Bloomberg: As Bitcoin Weakens, Stablecoins and RWA Continue to Drive Expansion in Crypto Businesses
In June, Bloomberg reported that despite Bitcoin falling below $60,000 last week, wiping out about $235 billion in market value within seven days, and dropping close to 50% from last year’s peak, some core businesses in the crypto industry are still expanding, mainly in stablecoins, real-world asset tokenization (RWA), payments, and infrastructure. The report also noted that overall altcoin activity has contracted significantly: altcoin market capitalization has fallen from a peak of about $431 billion in November 2021 to around $170 billion, and among the tens of millions of tokens issued in recent years, fewer than 1,700 still maintain meaningful trading activity.
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Binance Research: RWA Market Expected to Expand Nearly 6x from Early 2025, with Public Equities and Onchain Payments Heating Up Together
In June, Binance Research said in its monthly market report that the real-world asset (RWA) market is expected to grow by about 589% from the beginning of 2025. Bond- and money market fund-related RWA expanded by about $6.5 billion, up 83% year over year, while publicly traded equity RWAs grew by about 422%. The report also noted that monthly crypto debit card transaction volume exceeded $747 million in May, up 48.6% year to date.
Japan to Assess a Framework for Yen Stablecoins and Crypto ETFs as Asia’s Compliant Payments Narrative Heats Up
Recently, according to the original report, Japan is considering the launch of yen stablecoins and cryptocurrency ETFs. Public information remains limited at this stage, and there is still no complete policy text, regulatory draft, or clear implementation timeline, so this is better characterized as a “policy discussion” rather than formal implementation. The original wording also noted that advancing stablecoin regulation in Asia is driving XRP usage and supporting growth in the XRPL ecosystem. However, based on currently available public information, there is not enough evidence to directly establish a clear causal relationship between this round of discussion in Japan and XRP or XRPL.
ZachXBT: Humanity private key leak and abnormal surge in H token should be viewed separately
On June 9, according to related disclosures, on-chain investigator ZachXBT posted an update on Humanity’s roughly $31 million security incident, saying that after further analyzing fund flows, he currently tends to believe the project team was not involved in an “inside job” or a self-staged attack. According to him, the official explanation about the private key leak was broadly accurate, but before the token unlock, the price of H had been artificially pushed higher, and the hacker later took advantage of that market environment; therefore, the private key leak and the earlier abnormal price pumping should be regarded as two separate and independent events. This reframing has shifted the market’s understanding of the nature of the incident. Earlier discussion around Humanity had focused on whether the team directly participated in the attack or used the security incident to cover up internal operations. ZachXBT’s latest remarks shift the focus from “whether it was self-theft” to “whether there were pre-unlock market structure issues.” He also questioned whether the team may have.
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