Shanghai Commercial Bank has announced a partnership with HashKey Exchange, Hong Kong’s largest licensed digital asset exchange, to jointly explore new avenues for integrating traditional finance with digital assets.
This collaboration marks a significant step forward in advancing Hong Kong’s fintech infrastructure, accelerating the city’s shift from conceptual digital finance innovations to large-scale implementation.
The partnership will establish a collaboration model between banks and virtual asset institutions under a robust regulatory framework, underscoring Hong Kong’s position as a mature and open international financial hub.
It also provides a replicable model for the broader industry.
In the initial phase of the collaboration, the two parties will join forces to launch one of Asia’s first co-branded bank and licensed digital asset exchange Visa credit cards. The card will feature a dual rewards program integrating digital asset services into everyday consumer spending.
Looking ahead, Shanghai Commercial Bank and HashKey Exchange will further deepen their cooperation, underpinned by a strong commitment to regulatory compliance.
The two parties will also explore opportunities in market infrastructure, product innovation, and risk management to support the sustainable development of Hong Kong’s digital finance ecosystem.
Wallace LAM Wing-ted, Chief Executive of Shanghai Commercial Bank, said, “We are excited to announce our collaboration with HashKey Exchange for the upcoming launch of this pioneering co-branded card.
“As the first of its kind in Asia, it perfectly demonstrates how traditional finance and digital assets can reinforce each other, growing together and achieving maximum synergy. Shanghai Commercial Bank has always been committed to driving financial innovation, and this card stands as a testament to that commitment – offering customers the best of both the ‘physical’ and ‘digital’ worlds, enabling them to earn dual rewards.”
“The first phase of digitalisation was about tokenising assets, while the next will be about tokenising rules,” said Dr XIAO Feng, the Executive Director, Chairman and CEO of HashKey Group. “HashKey Exchange aims to serve as the bridge for that transformation, creating a trusted ecosystem where regulation, trust, and innovation can coexist. This partnership with Shanghai Commercial Bank is a key milestone toward deeper integration between traditional banking and the digital asset ecosystem.”
Paulina Leong, General Manager of Visa Hong Kong and Macau, said, “Through our collaboration with Shanghai Commercial Bank and HashKey Exchange, we are helping to introduce a solution that bridges Web3 assets to our global network of over 150 million Visa-accepting merchant locations.
“This initiative aligns closely with our vision for the future of payments and highlights the power of collaboration in building a more inclusive financial ecosystem.”
