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WeBank Plans to Establish Local Anti-money Laundering Solutions, Currently in Talks w/ Some Potential Stablecoin Issuers
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Henry Ma, Vice President and Chief Information Officer of WeBank, as well as Director of WeBank Technology Services, said that the Group will develop Web 3 and AI businesses in Hong Kong, with an aim to establish a blockchain system that better complies with local regulations, meanwhile creating local anti-money laundering (AML) and KYT solutions, as well as virtual asset custody-related technologies, to facilitate the compliant participation of Hong Kong financial institutions in the Web3 and tokenization ecosystem, according to Hong Kong Economic Journal. The Group is currently in discussions with several potential stablecoin issuers, but the launch timing of related businesses will depend on the progress of licensing by authorities. AASTOCKS Financial News Website: www.aastocks.com |
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