Kieran Mudryy

Hong Kong’s Stablecoins Ordinance comes into effect today (1 August) and marks the implementation of the regulatory regime, introducing a robust regulatory framework for stablecoin issuers. We believe it is better for regulated stablecoin business, which is still in its infancy, to start with stricter regulations to ensure sound operation. With practical experience gained, we will be in a position to be flexible in certain areas. This will be a more suitable approach than dealing with the consequences left by lax regulations. ⚠ Important notice: Please be aware that, as of today, no licence has been issued by the HKMA. We urge the public to stay vigilant to any persons who claim to be regulated or licensed stablecoin issuers in Hong Kong. Follow our social media channels and visit the HKMA website for more details and the latest development on the licensing regime. #HKMAInnovates #StablecoinRegulation #ResponsibleInnovation #DigitalAssetEcosystem #FinancialStability #AntiScam

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ELIVAAS has raised $10M in Series B funding led by Vertex Ventures SE Asia & India, with participation from Peak XV Partners’ Surge and 3one4 Capital. The funds will fuel expansion into Southeast Asia and enhance their tech stack with AI. Founded in 2023 by Ritwik Khare and Karan Miglani, ELIVAAS offers luxury hospitality services via its platform, also accessible on MakeMyTrip and Airbnb. Competing with Ama Stays and SaffronStays, ELIVAAS aims to leverage the growing Indian hospitality market, projected to reach $541.7 Bn by 2030. #ELIVAAS #Funding #Hospitality #AI #SoutheastAsia #DeccanFounders

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Burgeon Law represented Enlite Research, an infra automation startup in their series A funding round, raising, $5.3 million. This funding round was led by Avaana Capital, with participation from Claypond Capital. The funds will be utilized to expand into the Middle East and Southeast Asia markets, while deepening its presence in India. Abhisshek Singlla (Partner), along with Anubhav Pandey (Senior Associate) and Rose J. (Associate) worked on this transaction. #DealUpdate #DealAdvisory #SeriesAFunding #Startup

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Nomura is planning to grow its presence in Japan’s fast-growing digital asset market. Its subsidiary, Laser Digital, is seeking regulatory approval to offer crypto trading services to institutional clients. CEO Jez Mohideen confirmed that Laser is in talks with the Financial Services Agency, Japan (JFSA, 金融庁), showing Nomura’s confidence in the country’s growing crypto ecosystem. Laser, set up in 2022, provides services from asset management to venture capital. It already holds a full crypto license in Dubai. Expanding into Japan would allow Laser to offer broker-dealer services to traditional financial institutions and local crypto companies, including digital asset exchanges. This positions Nomura to attract sophisticated investors as crypto becomes more integrated into mainstream finance. Other Japanese firms are also embracing crypto; for example, Daiwa Securities Capital Markets recently allowed clients to use Bitcoin and Ether as collateral to borrow yen, showing growing acceptance in traditional finance. 👉 Subscribe to our weekly LinkedIn newsletter, the "Japan FinTech Observer", here: https://lnkd.in/gNjUuSxG Read more: https://lnkd.in/g7r6T7zr

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With the emergence of Web3 technologies, digital assets are poised to play a pivotal role in the evolution of our financial system. Our Head of Fintech Development Department Mourice Pang and Head of Fintech R&D Section Dr. Wylie Chan explored this trend in an article "Web3 Wallet+: Redefining Usability, Security, and Innovation in Digital Finance". First published in Banking Today, the official journal of the The Hong Kong Institute of Bankers, the article delved into how Web3 Wallet+ simplifies digital asset management, lowers barriers for mass adoption, and integrates quantum-resistant security measures to address challenges in digital finance. Web3 Wallet+ represents one of the key initiatives of BEA’s R&D efforts, alongside our other innovative projects. As the advancement of technology continues to shape the future of the industry, we remain dedicated to building all-rounded digital capabilities and enhancing banking experience for our customers.   #BEA #BEASTbyBEA #HKIB #Fintech #Web3

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