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According to the South China Morning Post, the Nasdaq-listed Solana Company plans to expand its business presence in Hong Kong, increasing its local team from currently fewer than 10 people to up to 30, and establishing Hong Kong as its new headquarters for the Asia-Pacific region.The company's Chairman and CEO Joseph Chee stated that the tokenization business of large financial institutions in Hong Kong is still in its early stages, whereas the U.S. market is developing more rapidly. The company expects to evaluate the progress of the Hong Kong market in about six months, and if there are still no large tokenization service providers at that time, it will consider forming its own team to provide relevant services to local banks.Last month, Solana Company was listed by the Hong Kong SAR government as a key enterprise for introduction, with its business positioning covering digital asset infrastructure and services.

The Deputy Secretary for Financial Services and the Treasury, Chen Haolian, stated at the Legislative Council's Financial Affairs Committee meeting that Hong Kong will further optimize the preferential tax system for funds, single family offices, and associated rights, including expanding the scope of the tax exemption system to cover large-scale single investor funds and include more eligible investments, such as loans and private debt investments, digital assets, precious metals, and more.Once the relevant amendment bill is passed, the measures can be implemented starting from the 2025/26 tax year. Chen Haolian also mentioned that Hong Kong's central clearing and settlement system for gold will officially be launched in the first quarter of next year, providing efficient and reliable clearing services for internationally standardized over-the-counter gold trading.

According to Jinshi Data, Hong Kong tech stocks weakened in the afternoon, with Alibaba (09988.HK) falling nearly 5%, Xiaomi Group (01810.HK) and Tencent Holdings (00700.HK) dropping over 3%, and Kuaishou (01024.HK) and JD.com (09618.HK) also following the decline.

Hong Kong Exchanges and Clearing Limited (HKEX) released its quarterly performance report for the nine months ending September 30, 2026, which disclosed that the variety of exchange-traded products continues to expand. During the quarter, 25 new products were launched, setting a new seasonal high, including the introduction of the first multi-asset actively managed ETF that invests in both gold futures and physical Bitcoin.However, HKEX's overall performance unexpectedly declined, ending the trend of several consecutive quarters of record highs driven by the wave of technology and AI company listings. Net profit fell by 1% year-on-year to HKD 4.9 billion, below analysts' average expectation of HKD 5.03 billion; core business revenue remained basically flat at HKD 7.47 billion. HKEX's CEO, Charles Li, stated that in the face of rising macroeconomic uncertainty and ongoing market volatility, the company will continue to firmly promote the construction of a deeper and more diversified multi-asset ecosystem.

According to Gate quotes, the Hong Kong stock market opened, with the Hang Seng Index down 1.58%, and the Tech Index down 3.11%. The optical communication sector opened lower collectively, with Yangtze Optical Fibre and Cable down 12.59%, and Zhongji Xuchuang down 11.06%.Among AI model stocks, Zhipu fell 8.82%, and MINIMAX-W fell 7.4%.

The Acting Secretary for Financial Services and the Treasury of Hong Kong, Chen Haolian, stated that international virtual asset trading platforms can apply for licenses from the Securities and Futures Commission as long as they meet the relevant statutory requirements and regulatory requirements of the Securities and Futures Commission. The Hong Kong Securities and Futures Commission and the Invest Hong Kong have also been in contact with these international platforms to introduce Hong Kong's regulatory requirements and market opportunities.Chen Haolian also mentioned that the Hong Kong Securities and Futures Commission will submit a bill to the Legislative Council by the end of this year to amend the Anti-Money Laundering and Counter-Terrorist Financing Ordinance.

The trading atmosphere in the Hong Kong stock market continues to heat up, with several concept stocks experiencing strong gains. According to data from the Gate platform's Hong Kong stock market, the top three stocks in terms of increase are: Jumbo Group (01920) up 24.13%, currently at HK$0.36; Yingmei Holdings (02028) up 18.35%, currently at HK$1.87; and Junda Co., Ltd. (02865) up 18.09%, currently at HK$14.10.Gate's stock trading services have covered five major markets: US stocks, Hong Kong stocks, Korean stocks, Japanese stocks, and Taiwanese stocks, supporting over 10,000 US stocks and ETFs, more than 1,500 Hong Kong stocks, over 1,000 Korean stocks, about 300 Japanese stocks, and 19 Taiwanese stocks, totaling coverage of more than 12,800 stocks and ETF assets globally.Gate allows users to participate in global stock trading using USDT in a one-stop manner and offers fractional trading starting from a minimum of 0.01 shares along with corresponding stock dividend rights. The platform also supports cross-brokerage transfer of US and Hong Kong stocks and accommodates corporate actions such as stock splits and consolidations, further optimizing the stock investment service experience.

DCS Group's card and payment infrastructure platform DCS DeCard has become a Mastercard issuing institution in Hong Kong. At the same time, DCS DeCard launched the corporate card and expense management solution DeCard Business Account to help companies manage and control their expenditures.The DeCard Business Account supports medium and large enterprises in issuing Mastercard corporate cards through a single platform and centrally managing business expenses. The solution covers employee and operational expenses, assisting companies in managing costs, bills, invoices, and statements, applicable to scenarios such as business travel, employee expenses, advertising, media procurement, and corporate procurement. Initially, corporate cards will be offered in US dollars and funded in US dollars. DCS DeCard plans to gradually expand the DeCard Business Account to other markets and introduce new features, including fund account management.

The Hong Kong Special Administrative Region Government welcomes the Legislative Council's passage of the "2026 Taxation (Amendment) Bill" to implement the OECD's Crypto Asset Reporting Framework (CARF) in Hong Kong, as well as the revised Common Reporting Standard (CRS). The Hong Kong government stated that CARF will be implemented in Hong Kong next year, and relevant service providers must collect specified information according to the framework. The tax authority will automatically exchange tax information on crypto asset transactions with partner jurisdictions starting in 2028. The revised CRS will also take effect in 2028, with the tax authority automatically exchanging financial account information according to the new standards starting in 2029.The Financial Secretary of Hong Kong, Paul Chan, stated that implementing the latest international automatic exchange of information standards will help consolidate Hong Kong's reputation as an international financial and business center and enhance the confidence of crypto asset service providers, financial institutions, and digital asset users in operating and investing in Hong Kong for the long term. Hong Kong will conduct information exchanges on the basis of reciprocity, data confidentiality, and security. The tax authority will issue guidelines and establish a dedicated team to provide technical support and answer questions for the industry.

According to the Hong Kong News Bulletin, the main forum of Hong Kong FinTech Week x StartmeupHK 2026 concluded on November 3 at the Hong Kong Convention and Exhibition Centre. The Deputy Secretary for Financial Services and the Treasury, Chan Ho Lam, stated: "Certainty plays a key role in innovative development. Under the direction of the 'Hong Kong Digital Asset Development Policy Declaration 2', we will establish a licensing system for virtual asset trading, custody, advisory, and management services, and submit a draft amendment to the Legislative Council in 2026 to clarify the compliance path for the market."In addition, during the panel discussion, the Chief Executive Officer of the Securities and Futures Commission, Ashley Alder, elaborated on the SFC's strategic vision, pointing out that artificial intelligence and tokenization will empower the development of Hong Kong's financial market, but it is essential to protect investors and maintain market integrity at the same time. Ashley Alder also noted that in the face of increasingly severe threats related to artificial intelligence, the industry must enhance cyber resilience. Regarding tokenization, she believes that achieving true scale effects hinges on integrating it into market operations, bringing substantial benefits through improved efficiency, accessibility, liquidity, and settlement speed. The Chief Executive of the Hong Kong Monetary Authority, Eddie Yue, stated that Hong Kong has the advantage to seize new growth opportunities brought by financial technology. With the good progress made under "FinTech 2030," banks and fintech companies will be able to utilize data, artificial intelligence, tokenization, and other emerging technologies more effectively.

The cryptocurrency trading platform Crypto.com has confirmed that it will cease consumer app services in Hong Kong starting February 1, 2027, while continuing to apply for regulatory licenses for its institutional trading platform. The company informed Bloomberg that affected users have been notified and will receive guidance on closing their accounts and withdrawing funds.According to Hong Kong media HK01, Crypto.com mentioned changes in the regulatory environment in an email sent to Hong Kong users. The consumer app is operated by Foris DAX MT Limited, while another entity, Foris DAX HK Limited, is applying for a Virtual Asset Trading Platform (VATP) license in Hong Kong. According to the public register of the Hong Kong Securities and Futures Commission, this Hong Kong entity submitted its VATP license application on February 9, 2024, and is still in a "deemed licensed" transitional status, having not yet obtained full regulatory approval.Crypto.com told Bloomberg that it will continue to advance the licensing application for the institutional-level Crypto.com Exchange platform. This adjustment means that its retail and institutional businesses in Hong Kong will proceed in phases, with consumer services exiting first.

The Executive Director of the Investment Products Division of the Hong Kong Securities and Futures Commission, Wu Jiali, delivered a speech titled "Tokenization: Expanding the Tokenized Landscape of Hong Kong's Capital Market" at Hong Kong FinTech Week, in which she pointed out the upcoming launch of the "Innovation Pathway." This initiative aims to combine tokenized funds with digital currencies to enhance liquidity and financial management efficiency.Wu Jiali revealed that the first batch of tokenized money market funds will be traded in the secondary market on licensed trading platforms, and a tokenized gold ETF may become the next pilot project. Currently, Hong Kong has 17 approved tokenized retail products, covering money market funds, gold products, and ETFs, with a total asset management scale of 1.3 billion USD. In the medium to long term, the Hong Kong Securities and Futures Commission will also promote tokenized assets as collateral, expand the on-chain presence of assets such as stocks and bonds, and explore the application of smart contracts in automating investment decisions and trading processes.

Standard Chartered Bank announced the launch of a tokenized deposit scheme in Hong Kong, making it the first market within the group to offer this scheme to corporate clients. The scheme is based on Standard Chartered's own blockchain infrastructure and relies on the Hong Kong Monetary Authority's Ensemble TX, allowing corporate treasury, banking, investment platforms, and digital asset businesses to use commercial bank deposits in digital treasury and investment processes, including internal liquidity management within the group.According to Standard Chartered's announcement, tokenized deposits can be transferred in real-time between participating banks, with interbank settlements in central bank currency, including wholesale central bank digital currency, and supporting 24/7 operations. Huaxia Fund, Finloop, and PantherTrade have completed real-time tokenized deposit transactions and tokenized money market fund settlements.

The Hong Kong Monetary Authority announced the launch of the SAGE project to promote the responsible development and application of agentic finance in Hong Kong and established an expert group on agentic finance. SAGE stands for Securing Agentic Finance with Governance and Enablement, which means combining governance and enablement to build secure and reliable agentic finance. The members of the expert group come from financial institutions, technology service providers, professional service organizations, and academia.The Monetary Authority stated that the SAGE project focuses on four areas: first, market development and application scenario exploration, including business-to-consumer (B2C) agentic shopping and daily payments, business-to-business (B2B) procurement and treasury management, as well as machine-to-machine (M2M) pay-per-use digital service fees; second, exploring methods for verifying artificial intelligence agent identities and authorization permissions, including "Know Your Agent (KYA)" and identity verification mechanisms; third, promoting discussions on interoperability standards and protocols; fourth, exchanging views on legal regulatory issues such as governance arrangements, legal responsibilities, and consumer protection.The Monetary Authority's Chief Executive, Eddie Yue, stated that agentic finance has the potential to reshape the way financial services are provided and used. The Monetary Authority hopes to consolidate Hong Kong's position in the next generation of financial technology while promoting innovation through relevant measures and communication with industry experts, ensuring that agentic finance aligns with user interests and maintains the stability of the financial system.

The Sun Wukong ecosystem will hold a deep roundtable discussion themed "As Web3 Enters the Revenue-Driven Era: Is the Value Logic of DeFi Changing from the JST Buyback Mechanism Upgrade to Continuous SUN Destruction?" on November 3rd at 8 PM at X Space.This event will focus on recent key developments such as the JUST upgrade of the JST buyback and destruction mechanism and the latest centralized destruction of SUN, exploring how the market's attention to token value is shifting from supply and demand relationships to the connections between real business performance, revenue sources, and token economic mechanisms. Invited industry KOLs will jointly analyze the insights these developments provide for establishing a sustainable token economic model, exploring the value logic of DeFi under a revenue-driven model, and how real business and token economics jointly influence the long-term development of the ecosystem.

The Hong Kong Stock Exchange will extend the after-hours trading session for derivatives. Starting from March 2027, the closing time for the after-hours trading session for derivatives on the Hong Kong Stock Exchange will be extended from the current 3:00 AM to 4:15 AM.The Hong Kong Stock Exchange will consider whether to further extend the closing time to 5:15 AM in November 2027 based on the market development after the extension of the after-hours trading session. Under the new arrangement, market participants can flexibly manage risks in response to external market conditions outside of Hong Kong's daytime trading hours.

According to the South China Morning Post, HSBC Group CEO Georges Elhedery stated at the Hong Kong FinTech Week that since the official launch of its Hong Kong dollar stablecoin RedCoin over a week ago, it has attracted 50,000 users, with a long-term goal of millions of users. RedCoin was launched in October to over 3.3 million users of the PayMe app and will gradually be opened to HSBC and Hang Seng Bank customers in the future.Currently, RedCoin supports merchant payments and wallet top-ups. HSBC also plans to provide related services through HSBC HK Mobile Banking and support customers in purchasing tokenized money market funds and other asset products. In addition, HSBC announced that it will establish a global AI and emerging technology research institute in the northern metropolitan area of Hong Kong, expected to be operational by early 2027.

According to an announcement from the Hong Kong fintech company Round Coin Technology, as part of its collaboration with HashKey On-Chain institutional finance, the US dollar stablecoin RDUSD will be deployed on HSK Chain. Both parties will explore the applications of the stablecoin in cross-border payments, global fund management, and the tokenization of real-world assets.According to the cooperation and product plan, RDUSD will be issued by Anchorage Digital Bank, designed to be pegged to the US dollar at a 1:1 ratio, and will undergo third-party audits. The announcement stated that this stablecoin is not licensed by the Hong Kong Monetary Authority and is only available to professional investors in Hong Kong.