Asia Market Daily: Hong Kong Pushes AI Adoption as Corporate Crypto Accounts Surge in Korea (2026/8/23)

Hong Kong's Financial Secretary Paul Chan said the AI boom is injecting strong momentum into the city's economy and financial markets. In his blog, Chan revealed that AI-related IPOs raised nearly HK$100 billion (US$12.8 billion) between December and May, accounting for about 55% of total IPO funds. The Hang Seng Index Company has recently added several AI firms to its indices. The government is promoting AI adoption across all sectors, including finance, trade, and public services.

South Korea's Financial Supervisory Service reported that the country's five major crypto exchanges—Upbit, Bithumb, Coinone, Digital Asset Exchange, and Gopax—held 6,590 corporate accounts as of end-July. Bithumb led with 3,280 accounts, followed by Upbit operator Dunamu with 2,086 . Together, the two giants accounted for 81.4% of all corporate accounts. The surge reflects growing institutional participation in Korea's crypto market.

The Sandbox disclosed a vulnerability in its SAND cross-chain bridge on Base and BNB Smart Chain, which allowed an attacker to mint unbacked SAND tokens. PeckShield estimated approximately 14.9 billion SAND were abnormally minted, though The Sandbox said the impact was limited to less than 0.01% of total supply. Bithumb and Upbit temporarily suspended SAND deposits and withdrawals. The company stated it has fully contained the risk, and Ethereum and Polygon-based SAND remain unaffected.

Bank of China Hong Kong and Ant International announced a strategic partnership to support Alipay+ in Southeast Asia, providing account and settlement banking services. The collaboration will extend to real-time corporate liquidity management, SME cross-border funding, and fintech areas including blockchain, tokenization, and AI . The move deepens ties between traditional banking and digital payment ecosystems in Asia.

Cambodian anti-drug police, in cooperation with the US Drug Enforcement Administration, dismantled a cryptocurrency money laundering network used by Mexico's Sinaloa cartel. Authorities seized approximately $7 million in crypto assets, arrested multiple suspects, and confiscated drug labs and storage facilities. The operation highlights growing cross-border collaboration against crypto-enabled crime in Southeast Asia.

Alibaba announced a new share placement targeting non-US investors, aiming to raise HK$80 billion (US$10.2 billion). It marks the company's first such placement since its 2019 Hong Kong listing. Proceeds will be fully invested in full-stack AI capabilities and infrastructure . The move reflects Alibaba's aggressive expansion in the AI race amid intensifying competition in China and globally.

Keeta Network CEO Ty sent an open letter to the attacker behind a recent exploit on the payment blockchain, stating that investigations have gathered substantial evidence including IP addresses, VPN/VPS details, and email addresses. He demanded the return of all stolen funds within 72 hours , accepting repayment in KTA, ETH, or USDC . If full restitution is made, Keeta will offer a reward and not pursue legal action. Failure to comply will result in full legal recourse.

South Korea's Financial Supervisory Service introduced a real-time AI system designed to identify crypto price manipulation by referencing a historical database of market abuse strategies. The platform aims to flag short-term manipulation schemes across exchanges. The FSS plans to expand the system to track cross-exchange fund flows and on-chain blockchain activity, strengthening regulatory oversight.

Following a steep market downturn, South Korean retail investors are shifting from equities to complex structured products with annual coupons as high as 40% to 50% . Equity-linked securities (ELS) sales hit a three-year high in July, with products tied to Samsung Electronics and SK Hynix leading. Regulators are moving to curb demand for leveraged ETFs on single stocks, which they blame for amplifying a 22% monthly drop in the KOSPI.

Korean investors have poured 1.16 trillion won (US$850 million) into SK Hynix's Nasdaq-listed ADRs after the company announced a historic share buyback and cancellation plan. The ADR traded at a premium of over 40% to the Seoul shares due to conversion restrictions that hinder arbitrage. Analysts note the price gap may persist for an extended period.

本文为PANews入驻专栏作者的观点，不代表PANews立场，不承担法律责任。

文章及观点也不构成投资意见

图片来源：Asia Market Daily如有侵权，请联系作者删除。

Asia Market Daily

Asia Market Daily

Asia Market Daily

Asia Market Daily

Asia Market Daily

Asia Market Daily