Hong Kong – FinDeskAsia

Illustration of a Malaysian banking app QR payment linking to China, Hong Kong, South Korea, the Philippines and Laos

PayNet has switched on outbound DuitNow QR payments through Ant International’s Alipay+, letting Maybank, CIMB and Hong Leong Bank customers scan and pay in China, Hong Kong, South Korea, the Philippines and Laos straight from their Malaysian banking apps, with Bank Islam joining soon.

Illustration of an Indonesian QRIS code linking to Hong Kong and Timor-Leste

Cross-Border & Remittance

October 24, 2026 FinDeskAsia

Indonesia: Bank Indonesia to Trial Cross-Border QRIS With Hong Kong and Timor-Leste

Bank Indonesia will start sandbox trials of cross-border QRIS payments with Hong Kong and Timor-Leste in Q4 2026, adding to six live markets including Malaysia, as QRIS growth cools to 75.80% with 70.6 million users and 49.4 million merchants.

Illustration of a phone wallet holding HSBC RedCoin, a Hong Kong dollar stablecoin, paying a friend and a merchant

E-Wallets

October 23, 2026 FinDeskAsia

Hong Kong: HSBC Rolls Out RedCoin Stablecoin to 3.3 Million PayMe Users

HSBC has begun a phased rollout of RedCoin, a Hong Kong dollar stablecoin, to more than 3.3 million PayMe users. Here is how the licensed, one-for-one backed token works, why it is a first for Hong Kong’s new stablecoin rules, and what to watch next.

Editorial illustration representing digital bridge between Malaysia and Hong Kong

National Infrastructure

October 10, 2026 FinDeskAsia

BNM and HKMA Forge Closer Ties to Boost Cross-Border Payments, Digital Assets, and Local Currency Use

Bank Negara Malaysia (BNM) and the Hong Kong Monetary Authority (HKMA) have signed a comprehensive agreement to enhance financial and payment cooperation. The pact focuses on cross-border stablecoins, digital asset innovation, payment system integration, trade finance, local currency usage, and cybersecurity.