PRIVATE & INTERNATIONAL BANKING

By Christopher SimpsonThe British Virgin Islands Financial Services Commission (FSC) has recently recognised Asia-based Fusang Exchange Ltd as its first digital securities and asset exchange. The Exchange was recognised by way of an amendment to the British Virgin Islands Regulatory Code (Recognised Exchanges) Notice, 2015, and took effect on January 5, 2022. The recognition paves the way for Asian-based, BVI-registered companies to benefit from the efficiencies of listing their shares digitally via equity tokens.Fusang joins other leading global exchanges such as the London Stock Exchange, the New York Stock Exchange, the Tokyo Stock Exchange, and the Toronto Stock Exchange, which...

PRIVATE & INTERNATIONAL BANKING NEWS 2022

Yogi Berra, the iconic American baseball catcher, famously said: "Make a game plan and stick to it. Unless it's not working."   US Federal Reserve Chair Jerome Powell may have had this quote in mind when he delivered his 'Jackson Hole speech on August 26th, as the world's Central bankers gathered in Wyoming for their first in-person economic symposium for some years. In contrast to his more optimistic and discursive 2021 effort (promoting maximum employment and transitory inflation), Chair Powell was short and direct, taking just 8 minutes and 49 seconds to deliver his speech. The price stability imperative and...

PRIVATE & INTERNATIONAL BANKING NEWS 2022

  Find out how Asia Outbound can introduce you to new intermediaries for your project or services.       By Kelly Le   China’s central bank is exploring a new stance towards Bitcoin and other cryptocurrencies, now calling them investment vehicles – but not currency   China’s central bank officials said that bitcoin and other cryptocurrencies should be regulated as “investment vehicles” or “alternative investments” in the Boao Forum this weekend, as reported by CCTV, a Chinese state-owned TV station.    “We believe Bitcoin and stable coins are crypto-assets that should be regarded as investment vehicles, not currencies,” said Li bo, the Deputy...

PRIVATE & INTERNATIONAL BANKING NEWS 2021

The Eastern Caribbean Central Bank (ECCB) has officially launched its digital currency, also known as DCash, this week. The Federation of St Kitts and Nevis is one of the first Eastern Caribbean nations to embed the pilot currency, a sentiment in line with its digital transformation promised in 2020. DCash, considered legal tender, is a real-time payment option available within the Eastern Caribbean Currency Union (ECCU) and offers a safer, faster, and cheaper method for making payments.   According to the Governor of the ECCB, Timothy Antoine, the initiative's goal is to increase opportunities for inclusion and create financial growth...

PRIVATE & INTERNATIONAL BANKING NEWS 2021