The Hong Kong Monetary Authority (HKMA) and the Hong Kong Association of Banks (HKAB) announced on 30 December that all retail banks, including digital banks, willThe Hong Kong Monetary Authority (HKMA) and the Hong Kong Association of Banks (HKAB) announced on 30 December that all retail banks, including digital banks, will

HK Banks Launch Money Safe Service to Protect Deposits

The Hong Kong Monetary Authority (HKMA) and the Hong Kong Association of Banks (HKAB) announced on 30 December that all retail banks, including digital banks, will have fully launched the Money Safe service for individual customers.

Banks will also undertake a series of publicity efforts to raise awareness of the service.

Money Safe lets customers protect a portion of their deposits.

Banks require a face-to-face anti-scam verification before allowing withdrawals or transfers from these protected deposits, giving customers a chance to assess potential fraud.

The service targets customers who do not need immediate access to these funds.

Arthur Yuen, Deputy Chief Executive of the HKMA, said,

Arthur YuenArthur Yuen

Rose Kay, Acting Chairperson of HKAB, added,

Rose KayRose Kay

The HKMA plans to promote Money Safe through advertisements and other campaigns to help the public understand the service and consider its use as part of broader anti-scam measures.

Featured image credit: Edited by Fintech News Hong Kong, based on image by Rose Kay via LinkedIn

The post HK Banks Launch Money Safe Service to Protect Deposits appeared first on Fintech Hong Kong.

Market Opportunity
Safe Token Logo
Safe Token Price(SAFE)
$0.1727
$0.1727$0.1727
+15.67%
USD
Safe Token (SAFE) Live Price Chart
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

You May Also Like

American Bitcoin’s $5B Nasdaq Debut Puts Trump-Backed Miner in Crypto Spotlight

American Bitcoin’s $5B Nasdaq Debut Puts Trump-Backed Miner in Crypto Spotlight

The post American Bitcoin’s $5B Nasdaq Debut Puts Trump-Backed Miner in Crypto Spotlight appeared on BitcoinEthereumNews.com. Key Takeaways: American Bitcoin (ABTC) surged nearly 85% on its Nasdaq debut, briefly reaching a $5B valuation. The Trump family, alongside Hut 8 Mining, controls 98% of the newly merged crypto-mining entity. Eric Trump called Bitcoin “modern-day gold,” predicting it could reach $1 million per coin. American Bitcoin, a fast-rising crypto mining firm with strong political and institutional backing, has officially entered Wall Street. After merging with Gryphon Digital Mining, the company made its Nasdaq debut under the ticker ABTC, instantly drawing global attention to both its stock performance and its bold vision for Bitcoin’s future. Read More: Trump-Backed Crypto Firm Eyes Asia for Bold Bitcoin Expansion Nasdaq Debut: An Explosive First Day ABTC’s first day of trading proved as dramatic as expected. Shares surged almost 85% at the open, touching a peak of $14 before settling at lower levels by the close. That initial spike valued the company around $5 billion, positioning it as one of 2025’s most-watched listings. At the last session, ABTC has been trading at $7.28 per share, which is a small positive 2.97% per day. Although the price has decelerated since opening highs, analysts note that the company has been off to a strong start and early investor activity is a hard-to-find feat in a newly-launched crypto mining business. According to market watchers, the listing comes at a time of new momentum in the digital asset markets. With Bitcoin trading above $110,000 this quarter, American Bitcoin’s entry comes at a time when both institutional investors and retail traders are showing heightened interest in exposure to Bitcoin-linked equities. Ownership Structure: Trump Family and Hut 8 at the Helm Its management and ownership set up has increased the visibility of the company. The Trump family and the Canadian mining giant Hut 8 Mining jointly own 98 percent…
Share
BitcoinEthereumNews2025/09/18 01:33
ADA Price Prediction: Here’s The Best Place To Make 50x Gains

ADA Price Prediction: Here’s The Best Place To Make 50x Gains

But while Cardano holds steady, Remittix is turning into the breakout story of 2025. Having raised over $25.9 million from […] The post ADA Price Prediction: Here’s The Best Place To Make 50x Gains appeared first on Coindoo.
Share
Coindoo2025/09/18 01:53
Tom Lee’s Bitmine staket opnieuw grote hoeveelheden ETH

Tom Lee’s Bitmine staket opnieuw grote hoeveelheden ETH

Tom Lee, voorzitter van BitMine Immersion Technologies en mede-oprichter van Fundstrat, blijft een van de meest opvallende institutionele spelers in de cryptowereld
Share
Coinstats2026/01/13 21:01