1. Stablecoin Regulation Becomes Law
On August 1, 2025, Hong Kong enacted its Stablecoin Ordinance, mandating strict KYC compliance for all stablecoin issuers. While this upholds anti-money laundering and counter-terrorism efforts, some firms warn it may impact operational efficiency and user privacy.
2. Payment Connect Launches Cross-Border Real-Time Settlement
As of June 22, 2025, Hong Kong’s Faster Payment System (FPS) is connected with China’s IBPS, enabling instant RMB/HKD transfers using mobile phone numbers—a milestone in cross-border payment logistics.
3. Capital Floods Into FinTech
In July 2025, fintech firms in Hong Kong raised over US$1.5 billion in equity funding to fuel growth in stablecoins, blockchain applications, and payment systems—underscoring the market’s vitality.
4. Financial Firms Venture into Digital Assets
On August 8, 2025, Standard Chartered, Animoca Brands, and HKT formed Anchorpoint Financial, aiming to issue HKD-backed stablecoins—a signal of mainstream financial institutions entering the digital asset space.
DogPay: Building Compliant Payment Infrastructure for a Modern Economy
Amidst regulatory clarity and market enthusiasm, DogPay emerges as a practical enabler:
- Provides KYC-compliant stablecoin-to-fiat conversion channels aligned with legal frameworks;
- Integrates Payment Connect and stablecoin pathways to offer multi-currency accounts and card payment tools;
- Offers API-based payment solutions tailored for ads, e-commerce, and subscriptions, ensuring regulatory compliance.
In Hong Kong’s quest to balance innovation and regulation, DogPay empowers businesses with frictionless, compliant payment infrastructure.
